The Missing Confederate Gold That Disappeared Without a Trace

The Civil War brought a heavy toll, prompting wealthy people to support the Confederate States of America in their pursuits. A large amount of this gold, often referred to as "treasure" by historians, vanished after the Civil War. For more than 150 years, its location has remained a mystery, with no clear answers about what happened to it.

Richmond, Virginia was the Confederate capital

The Confederate States of America came about before Abraham Lincoln assumed office in March 1861, driven by their opposition to the abolition of slavery. Vice President Alexander Stephens articulated their ideology , asserting, "Upon the great truth that the negro is not equal to the White man; that slavery, subordination to the superior race, is his natural and normal condition."

Initially headquartered in Montgomery, Alabama, the Confederate capital soon relocated to Richmond, Virginia. Jefferson Davis , a Congressman from Mississippi and the former Secretary of War, was appointed as its president.

Recognizing the substantial cost of war, Confederate leaders began soliciting donations. Women contributed jewelry, while hundreds of containers brimming with gold and silver arrived. Additionally, almost half a million dollars in reserve gold was collected from a bank in Richmond.

Jefferson Davis leaves Richmond with the gold

On April 2, 1865, General Robert E. Lee sent a telegram to President Davis, advising him and other Confederate leaders to evacuate Richmond to evade capture by Union forces. That evening, two trains departed from the capital. One train carried Davis, key government officials, and crucial documents, while the other transported roughly $1 million in cash, gold reserves, and jewelry.

The precise amount of money and gold that left Richmond with Davis is unclear. Nevertheless, substantial expenses were incurred during the journey: $108,000 was paid to the troops guarding them near the Savannah River, and $40,000 was spent on supplies in Georgia. The $450,000 in gold reserves, which did not belong to the Confederacy, remained untouched.

Jefferson Davis is arrested, but where's the gold?

For much of April 1865, Davis was on the run. After Abraham Lincoln was assassinated on April 14, Davis expressed regret, feeling that Lincoln would have been more lenient towards the South compared to Andrew Johnson.

On May 4, 1865, with the decision to disband the Confederate government, Davis entrusted $86,000 to two Confederate navy officers, instructing them to smuggle the money to England. However, this plan failed, and the funds were believed to have been stolen. Davis then placed the reserve gold in a vault in Washington, Georgia, before continuing his journey.

Davis was apprehended on May 10 by members of the 4th Michigan Cavalry. When captured, he was seen wearing his wife’s shawl. Initially, it was reported that he had disguised himself as a woman to evade capture, but it was later clarified that he wore the shawl due to his extreme sensitivity to the cold.

Most notably, Davis had only a few dollars on him at the time of his capture, raising a persistent question: what happened to all the money and gold?

Theories abound over what happened to the money

What happened to the Confederate money? Some believe it was stolen by the Union soldiers who arrested Davis, while others speculate it was hidden long before his arrest, with the aim of keeping it out of the North's hands. The gold from the Richmond bank was accounted for, but was later stolen by around 20 armed men in Danburg, Georgia.

Of what was taken, only $140,000 was recovered.

As for the rest of the money, little is known, and tales of money found in areas connected to the American Civil War have been told for more than 150 years.

Civil War historian William Rawlings explained , "People like to believe there’s something out there. They left Richmond with a bunch of money, and when [Davis’ group] was captured six weeks later, they didn’t have it. The question is, what happened? And people’s imaginations take over from there."

Confederate gold is referenced in a number of books and movies

The legend of the Confederate gold is referenced in many films. In the Civil War-era movie, Gone With the Wind (1939), Rhett Butler, played by Clark Gable , is rumored to have stolen the treasure. The lost gold also played a key role in the legendary 1966 Western film, The Good, the Bad and the Ugly . In the movie, the characters are hunting for $200,000 worth of gold that is rumored to be hidden in a cemetery.

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The Confederate gold, again, showed up in the 1994 sci-fi movie, Timecop . In the film, a thief goes back in time to hijack the money using advanced technology. Another sci-fi production, 2012's Alcatraz television show, also featured the gold, with its characters realizing the treasure was buried beneath the prison back in 1960.