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Civil War tokens are token coins that were privately minted and distributed in the United States between 1861 and 1864. They were used mainly in the Northeast and Midwest . The widespread use of the tokens was a result of the scarcity of government-issued cents during the Civil War .
Interest bearing notes refers to a grouping of Civil War era paper money-related emissions of the US Treasury. The grouping includes the one- and two-year notes authorized by the Act of March 3, 1863, which bore interest at five percent per annum, were a legal tender at face value, and were issued in denominations of $10, $20, $50, $100, $500 ...
By the war's end, a cake of soap could sell for as much as $50, and an ordinary suit of clothes was $2,700. [7] Near the end of the war, the currency became practically worthless as a medium of exchange. This was because, for the most part, Confederate currency was bills of credit, as in
A Guide Book of United States Coins (the Red Book) is the longest running price guide for U.S. coins. Across all formats, 24 million copies have been sold. [2] The first edition, dated 1947, went on sale in November 1946. Except for a one-year hiatus in 1950, publication has continued to the present.
The widespread use of the tokens was a result of the scarcity of government-issued cents during the Civil War. Civil War tokens became illegal after the United States Congress passed a law on April 22, 1864 prohibiting the issue of any one or two-cent coins, tokens or devices for use as currency. On June 8, 1864 an additional law was passed ...
By spring of 1863, the greenback declined further, to 152 against 100 dollars in gold. However, after the Union victory at Gettysburg , the greenback recovered to 131 dollars to 100 in gold. In 1864, it declined again, as Grant was making little progress against Lee, who held strong in Richmond throughout most of the war.
Fractional currency, also referred to as shinplasters, was introduced by the United States federal government following the outbreak of the Civil War. These low- denomination banknotes of the United States dollar were in use between August 21, 1862, and February 15, 1876, and issued in denominations of 3, 5, 10, 15, 25, and 50 cents across five ...
[4] [5] These pieces readily circulated, and although the design did not strike well and was replaced by the Indian Head cent in 1859, the coins were commonly used until all federal coinage vanished from circulation in much of the United States in 1861 and 1862, during the economic turmoil of the American Civil War. This happened because many ...