The Diamond Coal Mining Co. "Scrip"

[ringking76]

I found this today in lake city,Tn formerly known as Coal Creek,Tn
It used to be a big coal town in the 1800's-1940's can anyone put an approximate date to this Scrip.

 

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[Mud Hut]

My guess would be the early 1940's

 

[cw0909]

here is a "Diamond Coal Mining Co." in evansville in., history info and imgs
sorry no img of tokens associated with this mining co.
imgs
Historic Evansville - Tag: diamondcoal
some history
Historic Evansville - Diamond Coal Mining Co

 

[nhbenz]

The link below indicates this as the style made from 1934-41 (toward bottom of page): The Elusive Story of Packard, Kentucky | NovaNumismatics.com

 

[Tony in SC]

In the South these scrip tokens were called "loonies". The cotton mills started paying their employees with them in the early 1900's. The only place they could be spent was the company store. It was a way of trapping the mill worker making the mill more money. I have hear that some mines and other industries did the same thing. Tony

 

[ringking76]

The coal creek war took place in this area in the 1890's between the free miners and the army do to the prisons leasing convicts to the mines.
I didn't think this piece was from the 1800 do to the "not issued for wages"on the bottom.I believe they passed a law in the teens or twenties.
Thanks for everyone's help HH

 

[Tony in SC]

I think the tokens for wages ended in the early 20's, although they were still issued to spend at the company store. At that time the mills down here started paying off in silver dollars. Tony I would say your token is probably late 20's/1940. Tony

 

[Donnie B from VA]

I have collected tokens and coal company scrip for about 20 years. Unfortunately, I don't have my books with me to give you a more definitive date but it is definitely in the early 1900's (probably 1910's to 1930's). The one you found is likely not too rare, but not common either. There are some very rare ones in the area you are hunting from coal companies that existed in the late 1800's. I love finding scrip and tokens. Nice find!

 

[clovis97]

Donnie,

After reading your post, I went to ebay and looked at coal script tokens.

Why do so many of them have a letter or shape punched out of the coin?

 

[Mud Hut]

Donnie,

After reading your post, I went to ebay and looked at coal script tokens.

Why do so many of them have a letter or shape punched out of the coin?

That shows they have been cancelled..once used, they couldn't be used again (at least that is my understanding)

 

[ringking76]

That shows they have been cancelled..once used, they couldn't be used again (at least that is my understanding)

That's a good piece of info to have,thanks mudhut.

 

[clovis97]

That shows they have been cancelled..once used, they couldn't be used again (at least that is my understanding)

I would assume that the cancellation punch was used after the coins were decommissioned from circulation, right?

These were not a one-use coin, were they?

 

[idahotokens]

The punches through coal scrip were not an indication of them being cancelled. They were both an anti-counterfeiting measure, and a quick method for the storekeeper to tell whether a customer was trying to pass some other company's tokens. The records from several of the companies that made tokens are in existence and they show the cutout that was made for each order.
John in the Great 208

 

[intimer]

you know they have voted to change the name of lake city, once coal creek, to rocky top. they want to build some kind of park (maybe amusement type with rides and such) to attract tourists I imagine.

the scrip you found is from caryville, tn, hence the c cut out. the company had locations at petros (sort of a dash with a hump on it) and devonia (qtr moon shape) with the different cutouts.
it is listed in the edkins coal scrip book

 

[ringking76]

you know they have voted to change the name of lake city, once coal creek, to rocky top. they want to build some kind of park (maybe amusement type with rides and such) to attract tourists I imagine.

the scrip you found is from caryville, tn, hence the c cut out. the company had locations at petros (sort of a dash with a hump on it) and devonia (qtr moon shape) with the different cutouts.
it is listed in the edkins coal scrip book

i believe they're (rock top) wanting to compete with dollywood.
Thank you for the additional info

 

[digging wv]

Coal companies in the area issued and used scrip up into the 1960's. Yours could be fairly modern. I would look for some local oldtimers for any info. I'm 58 and have used scrip in the Carbon Fuel Company store myself. I goggled these pics. Other family members have what was saved by my father.