WEEK # 468 IT'S NUMISMAQUEST TIME!!! HAPPY FRIDAY!

[LISA B]

QUESTION:

 

Several states issued tokens during the 1930s-50s. Why were these needed?

 

Our first place winner will receive a copy of a Guide Book of MODERN UNITED STATES PROOF COIN SETS, 2nd Edition.

 

There will also be a runner up prize given to a randomly selected player with the correct answer.

 

REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details.

 

[ritter]

to use the transit system?

[mtnstyne]

Fractional cent tokens.

 

These tokens were issued by various states during the Great Depression of the 1930's.

They were issued to make change for fractions of a cent for customers to pay the new

state sales taxes.

 

[Ducksoup]

I would say for a variety of reasons, souvenirs, advertisement, campaign promotions, historical event memerobilia.

[bsshog40]

Used for small item sales taxes?

[Morgan Mark-migration]

They were meant to assist in the collection of consumer's sales taxes when the amount due was only a fraction of a cent. During the Great Depression people did not like the idea of paying a whole penny tax on a small purchase, say, 25 cents. The tokens served as a useful device to make the new tax laws more palatable to the buying public.

[rrantique]

Tax tokens for paying sales tax.

[jamorse99-migration]

 

I think state tax tokens. Issued because sometimes the tax was only a fraction of a penny and to pay a full penny wouldn't be fair especially during a depression when money was tight.

[Joe Swindell-migration]

For taxes!

[walt666-migration]

The tokens were used to collect sales tax of less than 1c.

Walt

[HiHoAudio]

Sales tax.

[mhardin2413]

shortages of coins circulating and being minted during the depression and into wwii (certain metals were needed for the war effort.)

[Oldtrader3]

For Turnpike, tunnel and bridge tolls.

[BigBob]

They were needed due to sales tax.

Merchants had to pay sales tax to state for each days sales. If merchant sold .10 piece of candy and sales tax was 3%, merchant would charge .11 and give change back in form of token. Next time you purchased .10 pc of candy, you could give the merchant .10 plus token(s) equivilant to amt of sales tax.

[mrkim-migration]

because they ran out of materials to make a coin?

[e1cnr]

tax tokens

[MercuryMan]

Andrew Jackson and his policy's to break the banks made a shortage of specie and thusly hard time tokens were made to fill the need.

[LISA B]

Question:

 

Several states issued tokens during the 1930s-50s. Why were these needed?

 

Answer: Sales taxes were sometimes less than one cent, and the tokens were valued in mils (one-tenth cent).

 

Our first place winner, Mtsntyne will receive a copy of a Guide Book of MODERN UNITED STATES PROOF COIN SETS, 2nd Edition.

 

Our second place winner, walt666 has won a display box.

 

Thank you for playing and please stop by this Friday for the PMG Numisma-Quest question!