The best source on Confederate currency that I've found on the internet (and it's not very in-depth) is DocSouth, a project of the University of North Carolina.
DocSouth: Confederate Currency
Here is a Confederate $5, from the first issue. (My apologies for the size, but I wanted it to be clear.) While the note at the bottom does say "Pay to the bearer," note the detail at the very top:
"Six months after the ratification of a treaty of peace between the Confederate States and the United States..."
In other words, Six months beyond the successful close of the war, Pay to the bearer. This is entirely different than what you propose.
Regardless of wording we can both agree that the money was worthless, right?
As LS has pointed out, yes the currency was fairly deficient in specie value - i.e., too many notes were printed, and not enough gold was in the reserves to back it. But, as a form of currency, I would be willing to say that it's as well-backed as the current U.S. Dollar. (In other words, the true value of "money" is in the acceptability of that denomination to the market. How much do people think it's worth?)
Hope this helps,
~dt~