Civil War 1861 $4 Confederate States of America Bond Coupon – 8% War Loan of Aug. 19, 1861 – Low Bond #344 – Choice About Uncirculated (AU 55–58)

Technical Breakdown & Attribution

• Type: Confederate States of America Loan Interest Bond Coupon

• Denomination: $4.00 / FOUR DOLLARS (Rare early-war coupon denomination)

• Interest Terms: Payable for six months' interest at 8% Per Annum on a $100 Confederate Bond ($4 semi-annually = $8 per year / 8%)

• Due Date: July 1, 1866 ("Due July 1. 1866.")

• Authorizing Act: Act of August 19, 1861 ("C. S. LOAN OF AUG.T 19. 1861.")

• Bond Number Attribution: Hand-inscribed in dark ink: Bond No. 344 for $100 (Extremely low three-digit bond number)

  • Inventory Tail (Bond Number): 0344 or 344

• Issuing Authority: The Confederate States of America

• Signature: Penned by hand in brown ink: J. Newman (or W. Newman) on the line marked For the Register of the Treasury

• Typography & Style: Typeset calligraphic issue; arched ribbon reading "THE CONFEDERATE STATES OF AMERICA / Will pay to Bearer" with bold slab-serif "FOUR DOLLARS".

• Reverse Face: Blank unprinted back showing clear ink bleed-through from the manuscript bond numbering and clerk signature.

Historical Significance: The 1861 8% $100 Million "Hundred-Million Loan"

1. The First Major Confederate War Loan: Passed just four months after Fort Sumter, the Act of August 19, 1861 authorized the Confederate government to raise $100,000,000 through the issuance of 8% twenty-year bonds to fund military mobilization and arms procurement from Europe.

2. 8% vs. 6% Interest Shift: Early in the conflict, the Confederacy offered an attractive 8% annual return to entice domestic capital. By early 1864, mounting financial strain forced newly authorized loans down to a 6% interest rate (seen on your 1864 coupons).

3. Genuine Manuscript Authorization: Unlike later 1864 bond coupons that utilized printed facsimile signatures to speed production, early 1861 coupons were individually hand-signed by Treasury clerks acting on behalf of the Register of the Treasury.

4. Low Bond Number #344: Sourced from bond sheet number 344, placing this in the earliest tier of $100 bonds registered in Richmond during the autumn of 1861.

Condition & Visual Grade Assessment

• Assigned Technical Grade: Choice About Uncirculated (AU 55 – AU 58)

• Preservation Highlights & Attributes:

  • Margins & Framing: Neatly cut from the original bond sheet with full, intact outer black framing borderlines visible on all four sides.

  • Paper Fabric & Body: Crisp, firm, clean off-white parchment paper retaining excellent original stiffness and body.

  • Inks & Clarity: Deep, solid black typographic impression across the header ribbon and denomination.

  • Manuscript Details: Both the low hand-penned bond number 344 and the Treasury clerk's counter-signature remain strong, dark, and perfectly legible.

  • Purity: Completely free of pinholes, tape, spindle tears, folds, or repairs. Shows only minute, natural paper flecks from original 1861 mill manufacture.