Coin of the Day 9-12-18
We've covered the older coins in the lot that I was given by a friend. Now we're on to the tokens. Some of these are things that haven't been in use for decades.
This one is a 1 Mill Sales Tax Receipt from Missouri. It's a bit worn, but you can still see that it's from Missouri and that it was for 1 Mill.
These tokens were used to pay sales tax on items that didn't cost much. States like Missouri decided to start charging sales tax of 1-3%, but for a $0.10 item, that was only 1/10 of a penny. Therefore, the states made sales tax receipts (or tokens), so that when you bought a $0.10 item, the retailer would charge $0.11 and give you 9 Mill tokens back. You could then use those to pay sales tax on future purchases.
The other side is the same, just worn in a different way.
According to Numistathese tokens were made of Zinc and were "minted" from 1937 - 1942.
There were two different designs, one with a checkered map, and one (shown here) with a flat map. A total of around 150 million of them were made, so they are still fairly common.
I checked eBay's "sold listings" and found that a token in better condition than mine sold for $1 with $1 shipping, so it's possible I could get around $0.50 - $1.00 for mine. Seeing as they don't make or use tokens for values smaller than a penny anymore, this is another piece of history, and something that I'll hang onto.
Do you remember using these tokens?
Has it gotten you thinking about finding a token from your home state?
Again, such cool history!! So do you just go online and figure this stuff out?
The history aspect has been one of the coolest things about this adventure. I get to learn about things that I wasn't aware of previous to getting the coins/tokens.
Yeah, I tend to google words or phrases on the coins and see what comes up. Numista has been a reliable site, so if there's a result from them, I normally use that one. It also means the information available is more consistent than if I were jumping around from site to site.
The one coin I had from Taiwan that didn't have any letters I recognized was harder to figure out, but I was able to find the exact coin. It's fun doing the little treasure hunts!
no! he knows everything. the internet goes to him to learn stuff.
I had heard about these tokens but I had never seen one. Now I have and I thank you for this.
I'm glad I could show you a bit of history. :)
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I'd rather not see your comments on my blog.
I'm glad you liked the pictures. I'm working on my photography and I think I've been getting a better angle on the coins and tokens than I have been in the past. I like to think that it's the coins that are the stars of my posts though. Thanks for your comment!
I think I have heard of these before, but cannot remember if I have seen one. This is a really cool piece of history to have in the collection!
Thanks! I'm glad you liked it. I will have a few more different ones to show, so keep an eye out for those.
I really should do more research first because the tokens are more difficult to get information on than the coins. So far so good though! :)
Huh, I had no idea that these tokens existed! I guess it was needed in the days before electronic accounting of the sales tax, but it seems incredibly unwieldy! Interesting to learn about though..
Yeah, due to inflation, we don't normally have tax get added that is in increments of 1/10th of a cent. Well, we do, but it's increasing the cost by rounding up from $1.096 to $1.10. Most people don't worry about the 4/10 of a cent and therefore don't say anything. It would be more work than it was worth to have a tax token to take care of that. I guess Uncle Sam gets a surplus. Grrr.
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No, its totally new for me just like most of your coin updates but its again something new to learn from here :)
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howdy there Blondie! never heard of these strange things, what year was that?