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Credit Coins

Identifier: Tobacco Farm Life Museum
The credit coins pictured here are form P.L. Woodard & Company located in Wilson, North Carolina. Many stores during the early 1900s operated on a credit system in which they both bought and sold products to and from farmers. This system became very complex. Credit coins were used to replace paper credit vouchers. During the Great Depression many stores made their own coins to use as credit vouchers. These coins could be traded in at the issuing store for goods or traded with other farmers. The coins were not considered counterfeit since they could only be used at the issuing store. These coins were used much like today’s store credit would be used. more...
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