What was this used for? (solved)

[chukers]

This is interesting... anyone got any ideas?

Chukers

 

[fisher2]

Re: What was this used for?

its just what it says lol its a tax token for the elderly to pay tax without having to pick out exact change

 

[Bigcypresshunter]

Re: What was this used for?

Yep a 1 mil tax coin. A more accurate way of paying taxes. I think to save the elderly money. It was worth 1/10 of a cent in 1935. 5 mils was worth 1/2 cent.


http://www.tulsaworld.com/webextra/...nnial_storypage.asp?ID=070510_1_A4_spanc72682

Although many people won't pick up a penny today, America was in the middle of the Depression in 1935 and a penny was important. But it was impossible to charge the correct tax on a sale if fractions of cents were involved. Rounding up meant the purchaser had to pay more and rounding down meant the merchant was cheated.

The mills made it possible for merchants to collect the proper amounts more accurately.

 

[chukers]

Re: What was this used for?

I have been educated... thanks guys!

Chukers