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Image of one dollar "Greenback", first issued in 1862
Greenbacks were emergency paper currency issued by the United States during the American Civil War that were printed in green on the back.[1] They were in two forms: Demand Notes, issued in 1861–1862,[1] and United States Notes, issued in 1862–1865.[2] A form of fiat money, the notes were legal tender for most purposes and carried varying promises of eventual payment in coin but were not backed by existing gold or silver reserves.[3]
- ^ a b Spencer C. Tucker (2013). American Civil War: The Definitive Encyclopedia and Document Collection [6 volumes]: The Definitive Encyclopedia and Document Collection. ABC-CLIO. p. 809. ISBN 9781851096824.
- ^ Richard H. Timberlake (1993). Monetary Policy in the United States: An Intellectual and Institutional History. University of Chicago Press. p. 130. ISBN 9780226803845.
- ^ Brands 2011, p. 1.