Emory Manufacturing Note

[TennesseeZ4]

On another site that I frequent this note was posted today. Does anyone have knowledge of why, or how, these types of Confederate notes were used? How common would that have been? Note if from a company in Morgan County Tennessee. TIA.

 

[Sheltowee]

Difficult to understand. Is it saying they will pay 50 cents if you buy 5 bucks worth of goods?

Are they giving you 50 cents if you show them you have 5 dollars in Confederate money?

I'm lost…..

 

[Bur Oak]

Difficult to understand. Is it saying they will pay 50 cents if you buy 5 bucks worth of goods?

Are they giving you 50 cents if you show them you have 5 dollars in Confederate money?

I'm lost…..

You would have to have $5 or more in THEIR notes in order to redeem them for Confederate currency. (Otherwise, they were effectively worthless.)

This was a fairly common practice at the time with businesses and even municipalities issuing similar scrip. Change in the form of coinage was a bit scarce. I have to wonder how much extra money they made when it was probably unusual for too many folks to collect enough to ever redeem them.

 

[Pollaco]

Where was this 50 cents supposed to come from? Coinage was nearly non existent and the first Confederate 50 cent note was yet to be printed.

 

[Bur Oak]

Where was this 50 cents supposed to come from? Coinage was nearly non existent and the first Confederate 50 cent note was yet to be printed.

The 50¢ wasn't supposed to come from anywhere. You had to collect ten of these, or if different denominations were issued, enough that the cumulative face value reached $5, in order to exchange them for five dollars in Confederate Treasury notes. If you didn't have five dollars worth, you had nothing.

 

[Pollaco]

The 50¢ wasn't supposed to come from anywhere. You had to collect ten of these, or if different denominations were issued, enough that the cumulative face value reached $5, in order to exchange them for five dollars in Confederate Treasury notes. If you didn't have five dollars worth, you had nothing.

Got it. Nine would do you no good, it was Ten or nothing.

 

[Bur Oak]

On another site that I frequent this note was posted today. Does anyone have knowledge of why, or how, these types of Confederate notes were used? How common would that have been? Note if from a company in Morgan County Tennessee. TIA.

I don't have any references that might have info on the rarity of any individual type, but as I mentioned in post #3, this was a fairly common practice as a way of dealing with the shortage of coinage for change.

They were not exactly popular, and were often derisively referred to as "shinplasters."

 

[TennesseeZ4]

Thank you all! Great information.