Authentic CSA but with Bogus Back and IP Stamps?

PwrHsePro

This appears to be an actual T-40... so why does it have a Bogus Back... and why would they stamp it after the back was applied?

sellitstore

The Bogus backs weren't done by the CSA government but shortly after the War to create varieties for collectors. They were privately printed on leftover worthless notes to create collectible varieties.

The many varieties of currency produced since the start of the Civil War gave birth to our first currency collectors. CSA notes and fractional currency were the first issues widely saved.

CSA notes were plentiful, both in the North and South, and had no value as money. So people started saving them by denomination and design, and putting together type sets. Fractionals were in wide circulation for about 15 years during the 1860s and 1870s. They were interesting, accessible and available for a modest face value. So people started collecting them and collectors could even buy proof examples directly from the government.

PwrHsePro

Thank you for the info... I would imagine that both sides... USA and CSA entrepreneurs did this type of thing. Would it be safe to say that in the case of the note that I have, that the "printer" added the stamps to give his product a more individualized look?

Staircoins

Thanks for sharing your note. I took the liberty of calling this post to the attention of the CSA Trainmen, a group of folks who have expert knowledge and decades of experience in dealing with CSA notes, and T39, T40, and T41 in particular.

@sellitstore is correct in that the bogus back was added after the war. As one prominent expert has pointed out, these bogus backs use decorative devices which were commonly used by newspapers after the Civil War.

With regard to the interest paid stamps and whether they are on top of, or underneath, the green ink of the bogus back, members of the Trainmen have closely examined many of these notes over the years. In every case, with sufficient magnification (at least 30x, and sometimes much more), it becomes apparent that the green ink was applied on top of the black IP stamps.

Looks can indeed be deceiving, but the stamps are in fact underneath.

Thanks again for posting.

golden

That is something that I never knew.

Staircoins

I should add that these stamps are not ‘cancellations.’

These notes bore interest at $0.02 per day, or 7.30% per annum. Shortly after year end, the holder would present the note at a CSA Depository (or Treasury agent) to redeem their interest payment, which was calculated from the date of issue to the most recent Jan 1. The note was then stamped, with “Interest Paid to [date]” applied on the back (sometimes handwritten), to indicate the payout.

This note shows evidence of two interest payments, the first through Jan 1 1864, and the last through Jan 1 1865. Of course, the war ended in April, 1865 and the note became worthless.

sellitstore

Since the "Trainmen" have been invoked, I should explain that they care about endorsements, not interest paid stamps. The interest paid stamps and ink notations can be found on many, if not most of the T39-T41 $100 notes. They are interesting but not at all unusual.

Since interest was paid from the day of issue of the note and this date varied as currency was issued at different times and places, an endorsement on the day of issue was required, to properly compute interest. Hundreds of officers (and others) issued CSA notes and often left their signature, date and/or rank endorsed on back. The Trainmen collect different issuers of the T39-T41 types, two of which depict a train.

johnny9434

@golden said:
That is something that I never knew.

same here. hope it keeps coming to

Staircoins

@sellitstore said:
Since the "Trainmen" have been invoked, I should explain that they care about endorsements, not interest paid stamps. The interest paid stamps and ink notations can be found on many, if not most of the T39-T41 $100 notes. They are interesting but not at all unusual.

Oh, we care about IP stamps, too ;-) . But yes, endorsements are high on the list.

Here's a Trainmen page on IP Stamps that's available for public use, if it's of interest... http://csatrainmen.com/NEW/InterestPaid_Display.html

PwrHsePro

I assume that the Lower IP is 1865? The right upper of the 5 looks higher than in pics... but it must be because 8 don't find the 1866 listed...

The top IP looks like it says January 1864... but the font looks different and can't read the location... any way of determining where?

Staircoins

Both are Charleston - 1864 and 1865.

There are no 1866, as the war ended in April, 1865.