This is an interest coupon for a Confederate $1000 bond. When the war began in 1861 the south faced tremendous financial difficulties. Beginning in 1861, and continuing through the wars end, the Confederate government issued a series of bonds. These bonds were directly tied to the value of the South's major export product, cotton. In 1860 the south produced more than four million bails of cotton, with about three fourths of these bails being exported to Europe. One half of these exports were sent to England. When the war broke out the south looked to England for weapons and supplies and these bonds financed those purchases. From 1861 to 1864 Richmond authorized 13 different bond issues. These were subdivided into several types of bonds, resulting in more than 150 different Confederate bonds being created. Each bond had interest coupons attached to them. The coupons were redeemable at set times, typically six month intervals. At the end of the bond's term the bearer would be paid the full face value of the bond. The bonds were redeemed at the CSA Treasury or one of it's branches. Each bond had either two signatures and a set of initials or one signature and two sets of initials. These represented the Confederate officials who recorded and authorized the issuance of the bonds. Each bond had a serial number that was also printed on the coupons. This is a $30 dollar interest coupon for Bond # 1675, a $1000 bond. The coupon measures 1 3/4" wide and 1" high. The coupon reads, C.S. COTTON COUPON LOAN of APRIL 30, 1863. The Confederate States of America will pay to the bearer at New Orleans, Mobile, Savannah, Charleston, Wilmington, Richmond or Norfolk, SIXTY DOLLARS for One years Interest due June 1st, 1867 on Bind No 4878 for $1000, to be paid at the pleasure of the Government in Specie orCotton of the quality of New Orleans Middling, valued at six pence Sterling per pound. For the Register of the Treasury. and signed R McRae. Confederate bonds are not all that rare, but how often do you see a loose coupon for one? If you collect Confederate currency, especially bonds, this little jewel needs to be in your collection.

Item # AA2494