Confederate dollar
| Confederate States dollar | |
|---|---|
  $50 depicting Jefferson Davis |
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| Denominations | |
| Subunit | |
| 1/100 | cent |
| Symbol | $ or C$ |
| cent | ¢ |
| Banknotes | 50¢, $1, $2, $5, $10, $20, $50, $100, $500, $1000 |
| Coins | Confederate Half Dollar |
| Demographics | |
| User(s) |
 Confederate States of America
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This infobox shows the latest status before this currency was rendered obsolete.
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The Confederate States of America dollar was first issued just before the outbreak of the American Civil War by the newly formed Confederacy. It was not backed by hard assets, but simply by a promise to pay the bearer after the war, on the prospect of Southern victory and independence.
As the war began to tilt against the Confederates, confidence in the currency diminished, and inflation followed. By the end of 1863, the Confederate dollar (or "Greyback", to distinguish it from the then-new "Greenback" paper US dollar, which was likewise put into circulation during the war) was quoted at just six cents in gold, and fell further still.
The Greyback is now a prized collector's item, in its many versions, including those issued by individual states and local banks. The various engravings of leading Confederates, gods and goddesses and scenes of slave-life, on these hastily printed banknotes, sometimes cut with scissors and signed by clerks, continue to stimulate debate among antique dealers, with even some of the counterfeit notes commanding high prices.
The Confederate dollar, often called a "Greyback", was first issued into circulation in April 1861, when the Confederacy was only two months old, and on the eve of the outbreak of the Civil War.
At first, Confederate currency was accepted throughout the South as a medium of exchange with high purchasing power. As the war progressed, however, confidence in the ultimate success waned, the amount of paper money increased, and their dates of redemption were extended further into the future. Most Confederate currency carried the phrase across the top of the bill: "SIX MONTHS AFTER THE RATIFICATION OF A TREATY OF PEACE BETWEEN THE CONFEDERATE STATES AND THE UNITED STATES" then across the middle, the "CONFEDERATE STATES OF AMERICA WILL PAY [amount of bill] TO BEARER" (or "...WILL PAY TO BEARER [amount of bill]" or "...WILL PAY TO BEARER ON DEMAND [amount of bill]").
As the war progressed, the currency underwent the depreciation and soaring prices characteristic of inflation. For example, by the end of the war, a cake of soap could sell for as much as $50 and an ordinary suit of clothes was $2,700.
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