Seeking token knowledge

golddustin

I've been handed a bagful of coins (the usual - Morgans, Peace dollars, wheaties, Indian cents, some Frankies) which also has a few interesting tokens included. I will attempt to post pics...I know that somebody here can produce a relevant link to token collectors/values. Well, here goes... Thanks for the info I get!

Donovan

They look like common transit tokens probably worth about 25 cents each. You may want to check out TAMS (Token And Medal Society) for specific info.

Conder101

The pictures are really too small to tell anything for sure but the first three are definitely transportation tokens, the fourth might be but it may also be a sales tax token (it looks familiar) the fifth one looks like it might be coal scrip.

PutTogether

How did sales tax tokens work?

Gemini

The American Vecturist Association an organization that specialize in collecting tranportation tokens.
You can do a search under "vecturist" to locate a dealer member or get in touch with the asssociation.

cladking

Looks like a common tax token and four common transit tokens. There are lots
of rare varieties of the Pittsburg token though. Check out the AVA and if you have
an interest in die varieties transit tokens listed in Atwood-Coffee Vol III are a para-
dise. Of course there are always Lincolns too.

Conder101

<< <i>How did sales tax tokens work? >>


During the depression some of the states began using a sales tax in order to raise revenue. In most of these states the rate was a one percent tax. But since at the time many purchase were for less than a dollar the tax was appliedfor amounts down to ten cents. The problem was that the tax on a ten cent purchase was 1/10 cent. Well since there aren't an 1/10 cent coins to pay the tax with, the states produced tokens with a one mil denomination.

Merchants would buy a supply of these tokens from the state to use in making change for the tax payments. On a purchase of 10 cents the buyer could give 11 cents and receive 9 one mil tokens in change. Or if the customer had tokens from a previous purchase he would just pay a dime plus a single token.

The first tme a merchant had to send in the tax to the state he would total his sales, determine the tax owed, subtract out the amount prepaid for the initial token, and send in the balance. After that the tokens were simply a bookkeeping convienence and the merchant would send in 1% of his sales unless he had found himself short on tokens and had purchased more.

The Federal government frowned on the use of the tokens though, seeing them as an infringement on their right to issue coin. Eventually between rising tax rates and pressure from the Federals the states discontinued the use of the tokens and simply started rounding off the tax and not applying it to such small sales. The last state to use tax tokens discontinued them around 1960, almost thirty years after they began.

golddustin

You all are the greatest, as usual.......I thought the scans would show up larger, but you're all correct, they are transit tokens - 3 from Pittsburgh and 1 from Honolulu. The bright silver token is indeed a Louisianna tax token. I will look up the sources you've provided. Sounds like some interesting stuff. Thanks, as always! Chuck

PutTogether

thanks for answering that condor, thats always bugged me.