5 Dollar - City of Lincoln Park Scrip Wayne County, Michigan
© Mattsman60
Features
| Location |
United States
 |
|---|---|
| Type | Ration coupons |
| Year | 1934 |
| Value | 5 Dollars (5 USD) |
| Currency | Dollar (1785-date) |
| Composition | Paper |
| Size | 160 × 71 mm |
| Shape | Rectangular |
| Number | N# 410370 |
| References | Mitchell# MI 531-5 Ralph A. Mitchell, Neil Shafer; 1984. Standard Catalog of Depression Scrip of the United States: The 1930s Including Canada and Mexico. Krause Publications, Iola, Wisconsin, United States. |
Obverse
Dated 15 June 1934, and ensured the bearer $5. The note could be used to pay city taxes or other charges due to the city according to the inscription on it.
Script: Latin
Lettering:
Date Issued
June 15, 1934
CITY OF LINCOLN PARK SERIES
WAYNE COUNTY, MICHIGAN
FOR VALUE RECEIVED WILL PAY TO BEARER THE SUM OF FIVE DOLLAR
On or before the fifteenth day of November, 1934 with interest on full elapsed months at the rate of (5%) per cent per annum at the office of the treasurer of the city of Lincoln Park in payment, in lieu of money, of delinquent and 1934-35 general City taxes. City ordinance NO. 53 provides that this note shall not be discounted. This note is one of a series totaling $28,000.00 and is issued under authority of act NO. 26 of the public acts act of 1931 of the state of Michigan, as amended by act NO. 46 of the public acts pf 1933 and is authorized by counsil resolution of said city on May 28, 1934. Sufficient collections of 1934-35 city taxes will be set aside in a sinking fund to pay this note when due. This note is callable for payment at the option of the City on ten days notice published in the official newspaper. Interest will cease on date specified for payment in said notice. CITY OF LINCOLN PARK
CITY CLERK_____________________ MAYOR________________________
Reverse
A Large Square central Green Floral Motif
Comments
Scrip notes have often been used as a substitute for legal tender and were widespread during the depression. The note could be used to pay city taxes or other charges due to the city according to the inscription on it. The “bank holiday” of March 1933 was a plan to shut all banks down in order to allow the financial panic of the times to subside. It allowed the Federal government to ensure there was enough currency available for those banks that were in good financial condition (which were quickly reopened), and to reorganize those banks that were not.
The bank holiday resulted in a mass issue of merchant and municipal scrip, especially in smaller towns and rural areas where banks were closed for a longer period. The volume and types of “Depression era” scrip distinguishes this period from any other era in American numismatic history. The materials used for the scrip was unusual and reminiscent of the 1920s and ’30s notgeld of Germany and Austria — paper, metal, fish skin, clam shells, cardboard, plywood and even rubber. As time went on the variety of materials and number of scrip issues grew as businesses realized that they could make money by selling their notes.
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| Date | VG | F | VF | XF | AU | UNC | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Undetermined | |||||||||||||||
| 1934-Jun-15 | |||||||||||||||
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Numista Rarity index: 95
This index is based on the data of Numista members collections. It ranges from 0 to 100, 0 meaning a very common coin or banknote and 100 meaning a rare coin or banknote among Numista members.
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