The period of the American Civil War was one of the most dramatic and tumultuous in United States history and witnessed the first major land battles on American territory since the War of 1812 against Britain. It was also the only time when there were two fully functional sovereign governments within the current boundaries of the United States, both of which were capable of issuing their own coinage and paper currency.
The period would be even more interesting to coin collectors if the Confederate states had ever issued their own half dollar coins in any viable quantity. A few such coins were struck, but for the most part, for some reason, the Confederate mints continued to strike ordinary "Union" half dollars, a frustrating situation for numismatic enthusiasts. The very few examples of actual Confederate half dollars which exist - featuring wreaths of sugar cane and cotton, as well as a shield with seven stars representing the rebellious States - are all in museums or collections, from which they are unlikely to ever emerge.
Confederate pennies also exist, and, again, were struck in very tiny quantities - which is strange, considering that the Confederacy had both the resources and technology to mint their own coinage in quantity, had they wished. These extremely rare coins were rediscovered in 1874 by several coin experts who proceeded to issue a "restrike" of the pennies, until their efforts were interrupted by the shattering of the die that they were using.
For once in the history of numismatics, the men carrying out the restriking process were apparently scrupulous and honest. They struck the coins in a different metal from the original alloy used, thus simultaneously marking their own coins as restrikes and preserving the value, both monetary and historical, of the originals.
The original coins were struck in copper-nickel alloy, while the restrikes were apparently made out of copper. The originals now sell for several hundred thousand dollars apiece, and all have been thoroughly accounted for, their locations known and tracked by numismatic associations and collectors alike; but the restrikes are priced more affordably - though, as usual, the collector must beware of more recent counterfeits.
The Confederate pennies of 1861 and 1862, and their late 19th century restrikes, represent a very close equivalent to today's "vaporware" - software which is described, even possibly partly developed, but never issued. They are extremely rare coins which owe their rarity to a curious decision on the part of a sovereign government to mint the coins of another government in place of their own, and which therefore add a bit of intrigue and mystery to any collection that features them.
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