Collecting Confederate Currency

[Bur Oak]

As there are several threads concerning currency and counterfeits, and several collectors and interested people on this forum, I thought I would start a thread where examples of Confederate currency can be posted, questions could be asked and answered, information and advice given, and misinformation corrected.

I'll start by posting an image of one of my recent acquisitions.

This 1861 note is, I think, one of the nicer early notes. It's not terribly rare, but it can be tough to find an example with strong eye appeal. Fricke has this to say about the type:

"This type is rare in Uncirculated. There are more in XF to AU, and some of these are nicer and worth more than strict Uncirculated notes that are not as well cut. It is not easily found in XF or even nice VF."

This matches my experience as well. Many, in fact a seemingly inordinate number of lower grade notes that I have seen are found stained, foxed, or with other issues, and poorly cut notes are common. This note has exceptional eye appeal for the type. In fact, it is possibly the nicest note I've found in 20 years of collecting without spending a small fortune for a higher grade that doesn't look any better. I was the only bidder on the eBay auction where this was sold. The starting bid was a little high for the nominal grade, but I challenge anyone to find an example this nice even for twice the price.

 

[JOHN42768]

Very nice copy

 

[Bur Oak]

Not long ago, there was a nice T9 note on eBay that looked like a one-off printing error. The last three letters of the word "Bearer" were missing, and there were one or two other oddities. I considered buying it, but I don't collect printing errors, and didn't see the necessity of adding yet another T9 to my collection. That note apparently sold. Then, more recently, a similar note with the same characteristics appeared.

I looked through the auction archives on the Heritage website, and found that, out of 313 sales, there were at least seven other notes with the same "error." I bought the second note on eBay, and contacted Fricke. He agreed that this constituted a previously unknown variety. With the number of examples that Heritage sold, it's likely not terribly rare, but may merit a slight premium. It's odd that it hadn't been discovered before, but it may have been noticed and dismissed (as I initially did) as a one-off printing mishap.

 

[Bur Oak]

For those unfamiliar with Confederate currency, it is generally collected by the type numbers published by Grover Criswell. He listed 72 different types, hence you will see notes described with the letter "T" followed by a number from 1 to 72. These types represent different denominations, designs, and dates, as well as the addition of an overprint in several cases, and in one case, an alteration (but not a replacement) of the central vignette. Some of these distinctions are considered by some as varieties rather than distinct types, but the Criswell system has gained widespread acceptance.

Two of the types, formerly known as the "enigmatical issues" likely had nothing to do with the Confederate government, and are usually omitted from a collector's type set. These are fairly rare and expensive. Six genuine types, often referred to as the "big six," are also quite rare, and to most people, prohibitively expensive. This reduces most collections to 64 notes.

Early in the War, several different printers were contracted to produce the notes, and each would come up with their own designs. Counterfeiting led the government to later establish uniform designs, with plates being provided to each of the printers still active. Consequently, most of the different types date from 1861. These can be quite interesting, and fun to collect.

Here is one of my favorites. It's known as T23.

 

[Pollaco]

I just now found this thread.Interesting!

 

[Pollaco]

Last year I thought I had something, a little more collectible. It's a $10.00 note with an extra stamping on it. From what I understand money was scarce in the TransMississippi Department and.Gen.
Kirby Smith had old money that was soon to be devalued reissued as new currency. I though the "extra" stamp would have made the note a little more collectible.But according to one of the experts on this forum said

the note is quite common and not worth all that much. Oh well its still special to me.That's how Confederate Money grows on a person, They are not works of art but they aren't just pieces of paper either.They are all pieces of history.

 

[Bur Oak]

Last year I thought I had something, a little more collectible. It's a $10.00 note with an extra stamping on it. From what I understand money was scarce in the TransMississippi Department and.Gen.
Kirby Smith had old money that was soon to be devalued reissued as new currency. I though the "extra" stamp would have made the note a little more collectible.But according to one of the experts on this forum saidthe note is quite common and not worth all that much. Oh well its still special to me.That's how Confederate Money grows on a person, They are not works of art but they aren't just pieces of paper either.They are all pieces of history.

The T52 is a common note. The T52 with a Trans-Mississippi stamp is not, assuming the stamp is original. Fricke lists a range of values, depending on who the printer was, condition, and presence or absence of cancellations. Can you post an image of the entire note, front and back?

 

[Pollaco]

The #53 on the back was Slabaugh's number . I was originally going by his index number and not Criswell's

s

 

[Pollaco]

 

[Bur Oak]

In the 2014 Field Guide, Fricke lists the T52 printed by B. Duncan with the straight line stamp at $700 in VG (+/-) and $1500 in VF (+/-). If cut cancelled, reduce to about 70% of those figures. I can't quite grade your note from the images, but I'm guessing it's somewhere between the grades listed.

Unfortunately, these stamps can be, and sometimes are faked. I haven't seen enough to know how to spot a fake. As dark and prominent as it is, I'd remain skeptical until someone more experienced with Trans-Mississippi stamps than I am had the chance to examine it. Obviously, if real, the stamp adds quite a bit to the value.

As an aside, I noticed some yellowing to the holder your note is in. If that's a PVC holder, it could damage your note as the plastic degrades with age. I'd recommend buying some thin "mylar" holders for long term storage. I prefer the type with the open sides and the fold over flap. Those are more inert, and the type with the flap are easier to place a note into without risking damage. They are also available just open at the top, if you prefer.

 

[Pollaco]

Thanks on the PVC/Mylar folder tip. Does Hobby Lobby carry the Mylars?

 

[Bur Oak]

Thanks on the PVC/Mylar folder tip. Does Hobby Lobby carry the Mylars?

I don't know. I had always gotten them from a dealer, and when he retired, I found them on eBay. They can probably be found elsewhere online. Make sure you check the size.

 

[Pollaco]

I'm gonna have to do a little research I wasn't aware of B.Duncan having anything to do with this note.0ops, I stand corrected, I just now see where the note was indeed printed by B.Duncan.

 

[Bur Oak]

I'm gonna have to do a little research I wasn't aware of B.Duncan having anything to do with this note.0ops, I stand corrected, I just now see where the note was indeed printed by B.Duncan.

With the standardization of designs, plates were evidently provided to several printers. You've no doubt noticed on your note that it says "Engraved by Keatinge & Ball." Elsewhere on the note, it has the printer, which you found. Others who printed T52 notes were J. T. Paterson & Co., and Evans & Cogswell.

 

[Pollaco]

With the standardization of designs, plates were evidently provided to several printers. You've no doubt noticed on your note that it says "Engraved by Keatinge & Ball." Elsewhere on the note, it has the printer, which you found. Others who printed T52 notes were J. T. Paterson & Co., and Evans & Cogswell.

I noticed the "Keatinge +Ball thing" and assumed they were the originators of this note. That's one of the positive things about Confederate Money, you're always apt to learn something new.I just did!

 

[Bur Oak]

There has certainly been enough to keep me interested for more than twenty years. I always enjoy looking at notes. Over time I've learned not only the basics (with the books always at hand to refresh my memory and fill in the gaps), but also what can usually be expected in a given type, for example, which notes are hard to find in higher grades, which are notorious for usually being badly cut, which have above average printing or color, and which to be cautious about the existence of dangerous counterfeits. This makes it possible to recognize genuine notes with above average eye appeal. Often it makes it possible to recognize a real bargain on an exceptional note. Particularly nice notes are not only a pleasure to own, but are always easier to sell and more likely to fetch a good price. This helps when upgrading, and whenever one decides to liquidate one's collection.

Then, there are the occasional rare, or at least less common varieties, some of which can be interesting. I'm awaiting delivery of my most recent purchase, a T39. Very common as a type, but this variety is missing the clouds in the background of the central vignette. This PF-13 State III, Fricke lists as rarity 9 (51 to 100 estimated to exist). In this condition (AU), it's a nice find.

 

[KianGaf]

When I was young I would collect coins. I never got into paper money. Was there ever confederate coins issued ?

 

[Pollaco]

No coins were ever issued to the general public. There were several attempts at producing one (or two) but they never made it past "the development stage". A fair amount of half dollars were procured when the New Orleans mint was seized. There was some research into shaving off the side of the coin that had the "United States of America" stamped on it and the "Confederate States" restamped on the face.But none were ever issued and they were given to high officials. Jefferson Davis is said to have had one. I forget if it was this coin or the dime that was stolen from him when he was arrested by Yankee soldiers. More than likely this "souvenir" is somewhere up North. What a piece of history!

 

[Pollaco]

The opening paragraph of this thread pretty much explains the purpose of this particular thread and I strongly urge both beginners or experts to contact the OP. I feel it's sort of an "ask the experts" thing.

 

[Pollaco]

Another question comes to mind. What does the letter "T" stand for in Criswell's indexing? Type, maybe?