Round Cardboard Scrip
These were paper tokens issued by merchants, much for the same purpose as traditional paper scrip.
Panic of 1893 Scrip
There were several financial panics in the history of the U.S. The Panic of 1893 was an especially severe panic that resulted in economic contraction. Some larger companies issued scrip to accommodate the temporary shortage of currency.
Advertising Note
Advertising notes are a branch of obsolete notes. They were essentially coupons offering a discount on a purchase of some goods, and resembled contemporary bank notes. Because they look like money, they were often saved.
Endorsed Notes
Endorsed notes were a means by bankers to achieve a circulation by avoiding local laws prohibiting the issue of bank notes. Minnesota was one state where the issue of notes was prohibited before statehood. Yet there were several bankers in the St. Paul area who wanted to increase the local money supply. They purchased the notes of defunct of non-existent banks for about the cost of printing them. The local bankers added their endorsement -- often a pen notation on the face or back -- and issued the notes as money.
Depression Scrip
Depression Scrip is a branch of obsolete notes entailing the issue of emergency scrip during the Great Depression. It includes barter scrip -- payable for labor -- and stamp scrip, issued by local municipalities and paid off through a tax on the notes as they circulated.
Cut-out Cancellation
A cut-out cancellation was a way to indicate a note was redeemed, by cutting out the signatures on the note.
Punch Cancellation
When notes were redeemed -- turned in for gold or silver coins -- they were typically destroyed, so they could be not redeemed again. Sometimes notes were spared destruction by instead cancelling them. Small hole punches through the signatures were one means of cancellation.
