Confederate Money Sold at Auction

Apr. 12, 1965 - That Confederate money up in the attic may be worth something after all. Confederate bonds with a face value of $30,000 sold at auction in London today for $224.

The sale, at Sotheby’s auction rooms, represented a profit of almost 100% for Michael Hammerson, a 21-year-old student who is a Civil War buff. Hammerson bought the bonds from a junk dealer for $117.60.

The buyer was M.W. Hall, who did not identify himself further to the London auction house. His bid established a going price for Confederate bonds of somewhat less than 1% of face value — or about what defaulted Czarist Russia bonds are selling for now in London.

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