By the end of the Civil War in 1865, the federal government had taken over the role of issuing paper money. Private money disappeared and the United States achieved universal money standardization, all controlled by the federal government. The opportunities for the states to produce money with any local identity were few.
Ten-dollar note, 1894
Issuer: Commercial National Bank of Charlotte, Charlotte, North Carolina
Printer: Bureau of Engraving & Printing, U. S. Treasury Department
The federal National Bank system, formed during the Civil War, replaced privately-issued bank notes. Notes were still issued by local banks, and the bank’s name appeared on the note. But unlike the private system, national banks issued notes sharing a common design for each denomination. In addition, member banks were required to deposit substantial funds with the feds as backing for the paper money before they could issue notes. The National Bank system lasted until the 1930s.
North Carolina Collection Numismatic Fund
One-dollar PLENTY, 2009
Issuer: Piedmont Local EcoNomy Tender
Printer: Barefoot Press, Raleigh, North Carolina
The PLENTY is an example of a modern local currency. Communities create local currencies to encourage local spending: As money circulates among community merchants and their customers, wealth stays in the area. The PLENTY movement began in Carrboro in 2002, but faded as its founders left the area. It was later picked up by a Pittsboro-based group. The front of the one-dollar note shows a rural scene with perhaps no local symbolism. The back, however, shows the Carrboro Mill, and a Great Blue Heron, a bird whose territory includes this area.
Gift of Paul Horner
Federal coins with a local interest
The United States Mint produces some circulating coins in commemorative series. These coins add interest to our coinage, honor individuals, encourage coin collecting, and raise funds for the Mint.
The 50 State Quarters Program began in 1999 and concluded in 2008. One quarter design was produced for each state. North Carolina's 2001 quarter depicts the Wright Flyer on its maiden voyage in 1903.
The America the Beautiful Quarters Program issued quarters from 2010 through 2021 featuring national parks, sites, landscapes, and monuments. North Carolina was included in 2015 with the Blue Ridge Parkway quarter.
Starting in 2019, the American Innovation $1 Coin Program began issuing dollar coins, one for each state, commemorating a notable innovation for the state. North Carolina's dollar, issued in 2021, features the University of North Carolina, the first public university to open its doors. Unlike the quarters, these dollar coins are not for general cuirculation. They are sold by the mint for a premium over face value.
The American Women Quarters Program, begun in 2022, features North Carolina writer and activist Maya Angelou on a 2022 quarter.