$500 US Confederate Currency

$500 US Confederate Currency: A Collectible Piece of History

Members of the Confederacy issued Confederate currency during the American Civil War. Since there were so many currency-issuing bodies, Confederate currency is an exciting and challenging type of money to collect. The higher value denominations, such as the Confederate $500 bill, tend to be more collectible.

Understanding the different types of Confederate currency

Confederate currency was issued by the Confederate States of America as well as by individual states and local governments during the American Civil War. The bills were generally hand-signed. The local and state-issued currency was often hand-cut with scissors, rather than mechanically cut. Usually, print runs of Confederate money had 500, 100, 50, 20, 10, 5, 2, 1, and 50 cent bills printed. Some bills had higher values, such as $1000, but this was rare.

Confederate Currency refers to both types, while the Confederate States of America (CSA) currency refers to those notes issued by the treasury of the CSA. The Confederate States of America issued 72 different bills over seven series of print runs from 1861-1864.

Since there were so many different types of Confederate currency in circulation in the 1860s, counterfeiting was widespread. Very few people knew what every $500 Confederate bill looked like, so it was easy to get away with passing off faked bills. Interestingly, these counterfeits are now very collectible, and in some cases, are more valuable than authentic money.

How is paper money graded?

All money that has been in circulation is used. Used Confederate currency can still be valuable, but the amount of wear must be assessed. The amount of damage has a strong impact on the price of the bill. Especially for items like the Confederate States of America $500 bill, it is likely to have suffered damage in the last 100 years.

Paper money is graded on a 70-point scale. A score of 70 corresponds to the highest quality, and the bill will look almost new. Folds, tears, and dirt all lower the grade of the currency. In addition to a numerical score, a descriptive scoring system is also in use. Ratings range from Gem to Poor.

There are a few companies that grade and certify paper money. They generally also place the currency in a plastic display to keep it from acquiring more damage. The primary certification companies are PMG, PCGS, and Legacy Currency Graders. Since these companies handle high volumes of bills, they have professional graders. Grades from the major certifiers tend to be very consistent. Many bills are not certified, but may still be graded.

Repairs to bills are common. Repairs should be noted in the description. Repairs will have an impact on the $500 Confederate money value.

Why is the 1864 Confederate $500 bill more valuable?

The 1864 Confederate States of America $500 bill features General Stonewall Jackson. It was issued shortly after his death at the Battle of Chancellorsville. Gen. Jackson was considered a legendary general. This note served as a memorial to him. As a consequence, the Jackson Confederate States of America $500 bill value is higher than that of other issues. This note was also from the seventh and last series of notes issued by the Confederate States of America. While this bill is more collectible, you can still find reasonably priced 1864 Confederate States of America $500 bills on eBay.

Content provided for informational purposes only and does not constitute investment advice.