Tokem

[CZKidd]

Found this this am at a local park, using my new XP DEUS. Was practicing on deep targets. Park is super trashy.

Anyone have history on it? How were they used? Did not have these where I grew up.

 

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[Centsless Detecting]

Nice token. I have yet to find one I think.

Hers is a link. Made in 1936

https://en.numista.com/catalogue/pieces22215.html

 

[Red-Coat]

When general sales taxes were introduced in the US from 1930 onwards (starting with Kentucky and Mississippi) there was no easy way for a retailer to levy the tax on small purchases. For example, you might buy something with a retail price of 10 cents on which the sales tax would be a fraction of a cent and had no way to pay it. The retailer would nevertheless still be liable to pay the tax to the government based on the total of his sales. If he sold a lot of small items, he effectively lost money on each of those small sales and it could soon mount up.

These tokens were the solution. They came in various values and yours is valued at “1 mill” (a thousandth of a dollar, or a tenth of a cent). So if, for example, you made a 10 cent purchase liable for sales tax in fractions of a cent, the retailer would ‘overcharge’ you at 11 cents and then refund the ‘overpayment’ in fractional cents with these tokens. He then wasn’t losing out on what he had to pay the government.

Not every state had (or needed) these tokens. About a dozen states issued them. I think for Oklahoma they were issued from 1936-1941 and were formally ‘demonetarised’ in 1961. In most states they were discontinued during WWII as a result of the additional complications of ration tokens and stamps.

 

[Tuberale]

Glad you found your sales tax tokem (even if I don't know what that is).

 

[etex]

Their like pull tabs in Louisiana

 

[CZKidd]

Thanks for that bit of info. What a PITA for the retailers of the day.

 

[ToddsPoint]

When general sales taxes were introduced in the US from 1930 onwards (starting with Kentucky and Mississippi) there was no easy way for a retailer to levy the tax on small purchases. For example, you might buy something with a retail price of 10 cents on which the sales tax would be a fraction of a cent and had no way to pay it. The retailer would nevertheless still be liable to pay the tax to the government based on the total of his sales. If he sold a lot of small items, he effectively lost money on each of those small sales and it could soon mount up.

These tokens were the solution. They came in various values and yours is valued at “1 mill” (a thousandth of a dollar, or a tenth of a cent). So if, for example, you made a 10 cent purchase liable for sales tax in fractions of a cent, the retailer would ‘overcharge’ you at 11 cents and then refund the ‘overpayment’ in fractional cents with these tokens. He then wasn’t losing out on what he had to pay the government.

Not every state had (or needed) these tokens. About a dozen states issued them. I think for Oklahoma they were issued from 1936-1941 and were formally ‘demonetarised’ in 1961. In most states they were discontinued during WWII as a result of the additional complications of ration tokens and stamps.

Thanks for that info Red-Coat. I can see that you're already an asset to this forum. Regards, Gary

 

[Digger RJ]

Nice!!! Congrats!!!

 

[Trezurehunter]

Nice find. I like finding those tokens. I have 8 of them from Oklahoma. Red Coat gave an excellent description of what they are.

 

[Professor of Engineering]

Nice find in the trash, congrats!

 

[Bible]

Grrrr I hate me those troll tokens

 

[A2coins]

I love tokens more than silver zi only have 2 and thier the same token lol. Good piece of history in those

 

[CZKidd]

DEUS cuts through it really nice. Can hear the good stuff in between