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How Were Trade Tokens Used?

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MeadowviewCollector's Avatar
United States
4409 Posts
 Posted 04/13/2016  2:03 pm Show Profile   Bookmark this topic Add MeadowviewCollector to your friends list Get a Link to this Message Number of Subscribers
I am having trouble understanding how these were used back in the 1800s to 1900s.

Example: Store ABC is a general merchandise establishment. I go in there and make a purchase the total is $3.50. I hand the clerk a $5 bill.

Would I have received a $1 token and a 50 cent token back as change instead of say a silver dollar and a half dollar? Or would it have been a mix of both?

I'm guessing that if one opted for the tokens when redeeming them you only got back change in the form of tokens.

Can someone help school me on how these were likely used? Thanks. -MV
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Harmonica's Avatar
Canada
1118 Posts
 Posted 04/13/2016  2:08 pm  Show Profile   Bookmark this reply Add Harmonica to your friends list Get a Link to this Reply
What I heard (read: pure conjecture I can not back up) businesses would use them as a cash back program to encourage shopping at their location.

You would get your $1.50 and a 5 cent off bread loaf token.

In Canada we have Canadian Tire "Money" at that is how it works.

Thank you for asking the question as I have wondered this too. I am tracking down some local lumber tokens.
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MeadowviewCollector's Avatar
United States
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 Posted 04/13/2016  2:59 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
That makes sense Harmonica. A store had to draw customers in and give them a reason to choose shopping there versus going to a competitor.

I find myself looking for local items on ebay..sometimes I find some, other times searches don't yield results. I was happy to score a group of 5 tokens, one from each denomination, for a store located in the next county. These are from 1916 or earlier as the business changed ownership and received a new name in 1917.

-MV
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bpoc1's Avatar
United States
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 Posted 04/13/2016  4:52 pm  Show Profile   Bookmark this reply Add bpoc1 to your friends list Get a Link to this Reply
This is interesting.
Back then I would think you would get the correct amount in exchange and a token to redeem for future use.
Lets look at the time frame as the OP posted.






Edited by bpoc1
04/13/2016 5:12 pm
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BStrauss3's Avatar
United States
4591 Posts
 Posted 04/13/2016  8:18 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Depends on the year... during the 'hard times' and the war, ordinary coins disappeared from the market. You took your change in tokens or had to have exact barter (and it would more have been a few cents than $5).

At other times? Interesting question....
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moxking's Avatar
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 Posted 04/13/2016  8:31 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Some locations had banks, but those banks sometimes purchased what was available which might not include all denominations. They might get a ton of dimes, but only a handful of quarters.

Merchant tokens were used in the 1830's and 1860's because there was virtually no circulating coinage. Later, tokens were used more for promotional purposes. A tobacco store often used tokens valued at 6 1/4 cents - the cost of a cigar, or 3 such tokens would make change for a quarter.

12 states issued tokens, too. Guess why?
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ExoGuy's Avatar
United States
4416 Posts
 Posted 04/13/2016  10:25 pm  Show Profile   Bookmark this reply Add ExoGuy to your friends list Get a Link to this Reply

Quote:
12 states issued tokens, too. Guess why?


Are you referring to depression era tax tokens?

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Pertinax's Avatar
United Kingdom
2133 Posts
 Posted 04/26/2016  5:16 pm  Show Profile   Bookmark this reply Add Pertinax to your friends list Get a Link to this Reply
I can't say what happened in North America in the 1800s to 1900s but in Britain, trade token circulation was usually limited to one town or one owner's or company's factories.

Generally the factories were situated where there was no competition from other shops or working hours were structured so that non-owned shops would be closed by the time workers left.

Change was always given as tokens which could only be spent in the company's shops (other shops could not redeem them so would not accept them). Prices in the company's shops were higher than in other shops which gave the company extra profits.
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Parklane64's Avatar
United States
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 Posted 04/26/2016  6:32 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply
Many times the merchant would hand them out at the close of the sale to bring customers back. Or as their value in a transaction.

A couple of two centers for your cents, and another for the sale. Remember a cent would buy a candy bar. A nickel or free beer token would work as an attractive offer.
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