The Confederate States of America issued its first currency in 1861. Most of the notes were hand signed and numbered. The note sheets were typically hand cut, so individual notes often have uneven borders. The North printed counterfeit Confederate notes during the Civil War, exacerbating an already ramped counterfeit problem in the South. This caused massive inflation and near the end of the war, Confederate currency became worthless. However a few extremely rare notes in good condition are quite valuable to collectors.
Most of the Confederate currency has the phrase, “TWO YEARS AFTER THE RATIFICATION OF A TREATY OF PEACE BETWEEN THE CONFEDERATE STATES AND THE UNITED STATES OF AMERICA… CONFEDERATE STATES OF AMERICA WILL PAY (amount of the bill) TO BEARER.” Confederate currency was not backed by gold or silver, similar to the currency issued during the Revolutionary War.