Confederate Non-Taxable Certificate. Treasury Bond Issued by the Treasury of the Confederate States. Richmond, 1864.

At the onset of the American Civil War, the Confederate states quickly began issuing their own currency and establishing their own treasury. Their treasury was not backed by material assets–just the promise of future value upon the successful victory of the Confederate armies and the defeat of the Union. This currency system was deeply flawed, of course, resulting in rampant inflation, forgeries, and a massive amount of debt. When the Confederacy was defeated, their treasury and all its debt immediately became unpayable, making many Southerners destitute after investing their fortunes in a literally and morally bankrupt cause. Today Confederate currency notes and bonds are quite collectible. This example–a $100 non-taxable certificate–was meant to be paid back to the Confederate investor two years after victory in the Civil War. It was issued in September of 1864, just months before Lee’s surrender at Appomattox, leaving its buyer at a significant loss. It is subsequently a great example of the compounding negative consequences of the South’s war to maintain slavery.

This certificate is in very good condition. WIth only creases and closed tears. Perforation lines to two edges. Assignee form on back side blank. Assignee change stamp present.

A scarce Confederate Treasury bond.