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While the Coinage Act made Civil War tokens impractical, the issue of their legality was decided on June 8, 1864, when Congress enacted 18 U.S.C. § 486, which made the minting and usage of non-government issued coins punishable by a fine of up to $2,000, (~$31,717 in 2023) a prison term of up to five years, or both.
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
The continuing opposition of the GAR to the coins dampened sales in the North, [53] and there was considerable criticism of the coin issue in newspapers. [54] Counterstamped Stone Mountain Memorial half dollar. One means of fundraising that Harvest Campaign administrators decided on was to counterstamp some of the coins for sale at premium ...
In addition to hoarding wealth, privileged classes began collecting coins for their artistic or historical value centuries ago. Coin collecting and the study of currency, or numismatics, have been...
In 1925, a commemorative 50-cent coin was released that showed Robert E. Lee and Stonewall Jackson. Money raised from the sale of the coins was combined with money raised by the United Daughters of the Confederacy and the Stone Mountain Confederate Memorial Association in order to fund the carving of a Confederate monument at Stone Mountain. [6]
There were three general types of money in the colonies of British America: the specie (coins), printed paper money and trade-based commodity money. [2] Commodity money was used when cash (coins and paper money) were scarce. Commodities such as tobacco, beaver skins, and wampum, served as money at various times in many locations. [3]