1862 $100 Confederate States of America BankNote T-40 PMG EF40

Product Description

A $100 Confederate States of America (CSA) banknote dated October 2, 1862 with Serial No. 56,602 graded Extremely Fine 40 by PMG. This note displays an off white paper color, light minor corner folds, and three 'Interest Paid' stamps on the reverse dated 1863 (Black), 1864 (Red) & 1865 (Blue) all of which are marked Augusta (Georgia). An annotation is mentioned on the back as being 'Previously Mounted'. Please view our photos for additional information and ask any questions prior to purchase.

Confederate Treasury or banknotes were forms of currency issued by the Confederate States of America (CSA) from 1861 - 1864 as a type of fiat money. Backed by no more than the promise to pay the bearer on demand the full face value of the note after a treaty was signed between the CSA and United States of America (USA), their inception was largely due to the public hoarding coinage with precious metals, making small denomination coinage very scarce. Over the course of the Civil War (1861 - 1865), many patterns were printed and counterfeiting was an ongoing problem. By the end of the Civil War, all issued notes by the CSA were deemed obsolete and many lost out on their future investments.