Echoes of the Civil War: Value and Legacy of Civil War Coins

Coins might carry the memories of the bygone days, and these are not always pleasant and sweet. Take the times of the Civil War in the US. This was indeed a transformative period when a nation divided and its people faced unprecedented challenges. 

Amidst the chaos, there appeared numismatic artifacts that were silent to witness history but intricately reflected the economic crisis, shock, faith, and resilience of a country at war. This is why those instances that had survived the conflicts and the people involved may be important for us to investigate these days. So, which units of currency are particularly interesting to obtain? Let us identify these coins and see.  

Briefly About the Historical Context

The American Civil War (1861-1865) was a turning point that divided the nation on the basis of the slavery problems, state rights, and federal authority. The war, which put the Union (North) against the Confederacy (South), was triggered by the election of Abraham Lincoln and the secession of eleven Southern states to form the Confederacy. While the Confederacy wanted independence, the Union (Northern states) fought to keep the United States as a single entity.

After the Union won the war in 1865, slavery was finally declared illegal by the 13th Amendment, and Reconstruction began. Nevertheless, this left behind persistent political, social, and economic challenges that significantly affected the development of the country from then on. But what about numismatics? Why do we discuss the history of the USA?

Coin Mintage During the Civil War

The Civil War had a profound impact on all facets of life, the national currency not to mention. During this time, both sides of the conflict contributed resources like copper, silver, and gold to the war effort, which made metal shortages an urgent problem. Besides, small denominations like cents and nickels vanished from circulation. As a response to this problem, coins were replaced with alternatives, e.g., paper money, tokens, and even postage stamps.  

In the South, the Confederate States established their own mints with the most outstanding site in New Orleans, though they suffered from limited resources and infrastructure. During their brief existence, the Confederate States made an attempt to establish their own currency with the most notable example of the Confederate half dollar. However, their life was relatively short, which is why these are among the rarest relics from the Civil War era with a few instances ever known. 

Read these famous numismatic books to get more information about coins and their collecting.

Notable Civil War Era Coins

The history of the American coinage can be quite intriguing and captivating, as it hides instances born under exceptional circumstances. The coins from the Civil War are as diverse as the country in conflict could be, and exploring such instances 

1861 Confederate Half Dollar

Possible Value: $500,000–$1,000,000

This Confederate Civil War coin can be considered one of the rarest and most sought-after artifacts of that time. Keep in mind that there were produced only four authentic iterations in New Orleans during Confederate control.  As such, it features the Seated Liberty design on the obverse and a Confederate shield surrounded by agricultural products on the reverse side. Owning such an item means conquering history!

1861-O Seated Liberty Half Dollar

Possible Value: $150–$50,000

One may wonder if this coin is the same as its Confederate variation. In fact, these are two different units of currency, with the latter minted in much larger quantities under three authorities, i.e., the US government before Louisiana seceded, the State of Louisiana after secession, and the Confederacy after taking control of the mint.

Although these valuable Civil War coins feature the same Seated Liberty design, they refer to the instances of regular, standard circulation, and these are not as rare and valuable as the previous item mentioned. Nevertheless, it is still honorable to incorporate them into the collection. 

Civil War Tokens

Possible Value: $20–$1,000+

Since the official production of coins was suspended (or, at least, minimized), some launched tokens, yet privately to employ them as symbols of their businesses, i.e., for the marketing goals, as well as substitutes (instead of cents).  Probably, the most popular option refers to the Lindenmueller tokens, which were issued by New York businessman Gustavus Lindenmueller. 

What is interesting yet obvious, tokens varied in design. While some featured Lady Liberty, eagles, or shields, others included patriotic words like "Union Forever" or "The Flag of Our Union", along with the names of those who issued these tokens.

1864 Two-Cent Piece

Possible Value: $20–$500+

Minted in response to coin shortages, this rare coin from the Civil War time represented the United States' resilience during times of conflict. It was the first coin to include the famous slogan "In God We Trust" over a huge shield flanked by olive branches on the obverse. The reverse, on its part, demonstrated the denomination "2 CENTS" surrounded by a plain wreath. 

Gold Coins

Possible Value: $2,000–$10,000+

The Civil War gold coins were not really popular during that period. However, there were present $1, $2.50, $5, $10, and $20 denominations with designs similar to the Liberty Head or Coronet Head. Here is an outstanding example. Due to its size and substantial gold content, the $20 Double Eagle represented prosperity and sound financial standing (which was not possible for the major part of the nation). Anyway, these coins were scarcely circulated during the war.

Indian Head Cents

Possible Value: $10–$1,000+

Last but not least, Indian Head cents were useful and historically noteworthy, for they were one of the few coins still in use during the conflict. Thanks to the metal shortages, the composition was altered from a copper-nickel alloy to bronze in 1864.  As for the appearance, the obverse side demonstrates Lady Liberty with a Native American headdress, the date, and the words "UNITED STATES OF AMERICA". The reverse is known for a shield and an oak wreath.

Comprising a Civil War Coin Collection

Collecting Civil War coins could be the business of life, but it can be complicated to start. What should I do? Which steps to follow? For your peace of mind, we have prepared a list of tasks to do in order to comprise a fine collection in the end. Good luck!

1. Start with Research

Learn more about the period and its numismatic representatives before purchasing any. Thus, you will be able to make more informed purchases if you are aware of their designs, variances, and historical significance.  

2. Define Your Collection Goals 

Choose between more accessible coins like Indian Head Cents or Civil War Tokens or rarer ones like Confederate ones. Particular metals, denominations, or coins produced by different authorities (such as the United States, Louisiana, or the Confederacy) are of different levels of interest, and, hence, can grant different emotions and values. 

3. Use Modern Tools to Identify Coins

For collectors, technology may transform anything. With the help of coin collecting tools like Coin ID Scanner, one may quickly scan and identify coins with just one snap. The app provides complete information regarding the type, year of minting, and estimated value of a coin. Besides, it can spot minor differences, errors, and deviations, or distinguish between authentic and fake Civil War Tokens, too.  

4. Purchase Coins from Trusted Sources 

Make sure you purchase coins from authorized coin marketplaces, auction houses, or trustworthy dealers only.  Do not forget to look for coins that have been evaluated and verified by grading organizations like NGC (Numismatic Guaranty Company) or PCGS (Professional Coin Grading Service). 

5. Handle Coins Properly 

So as to prevent any type of damage, always hold coins by their edges and keep them in albums or protective holders. Invest in a secure storage solution since environmental elements like sunlight and humidity can erode coins over time.  

Coins from the Civil War period are truly amazing pieces that delight and overwhelm. Make sure you know the basics and create a collection of your dreams!

Sources: 

1. https://www.pcgs.com/ 

2. https://en.wikipedia.org/wiki/Civil_War_token 

3. https://www.pcscoins.com/all-categories/coins-by-theme/civil-war/civil-war-era-u.s.-coins-collection-CWO.html