Spectacular Spring Coin Consignments 3 of 6: Day 1
By Key Date Coins
Contact auction house
Apr 4, 2022
148 Route 73 Suite 3-184 Voorhees, NJ 08043 USA, United States
Terms of sale
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1500+ Lots of premium Numismatics from around the Country including; Morgans, Peace $'s, Rare Type coinage, Rare Gold, Lg cents, ½ cents, Indians, Bust coinage, Barber coinage, Buffalo's, Currency, VAM's, Varieties, Errors, NGC/PCGS/SEGS Slabs, Original rolls of Morgans, Peace $'s, Buffalo's, and pennies plus much, much more.....
The auction has ended
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LOT 16:
Rex Liquors, Inc. 5c Company Scrip Company Scrip Grades ng
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Sold for: $5
Start price:
$
20
Estimated price :
$25 - $100
Buyer's Premium: 20%
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Rex Liquors, Inc. 5c Company Scrip Company Scrip Grades ng
Rex Liquors, Inc. 5c Company Scrip Grades ng. In the United States, mining and logging camps were typically created, owned and operated by a single company. These locations, some quite remote, were often cash poor; even in ones that were not, workers paid in scrip had little choice but to purchase goods at a company store, as exchange into currency, if even available, would exhaust some of the value via the exchange fee. With this economic monopoly, the employer could place large markups on goods, making workers dependent on the company, thus enforcing employee "loyalty". While scrip was not exclusive to the coal industry, an estimated 75 percent of all scrip used was by coal companies in Kentucky, Virginia, and West Virginia. Because of this, many derived nicknames for the type of currency originated in the Appalachian mining communities, such as "Flickers, " "Clackers, " and "Dugaloos."Tokens were made out of a variety of metals, including brass, copper, zinc, and nickel. There were additionally "compressed fibre" coins produced during World War II in an effort to conserve metals for wartime production.
