In the late 1800’s to the mid-1900’s many American coal mining companies had their own coins, or scrip made by different coin manufacturers. These coins were used by the owners of the coal mining companies to pay or create loans for the men who worked for them. These coins could only be used at the mining company’s store and to pay for services, utilities, and housing offered through the mining company. Since these coins are rare pieces of a past era in American history there are many people who have coin collections which consist only of mining company coins.
A Unique Solution to a Unique Problem
Coin collections of mining coins are collections made up of a very unique form of currency. Mining coins were first developed to solve the problem of not being able to keep much currency on hand at a mining site. This was a problem many mining companies faced since they were located in remote areas where there were no banks to be found. In the late 1800’s transpiration was not as advanced as it would be later and this made getting to and from a bank to get currency difficult. By paying mining employees in scrip these problems were then eliminated.
The Important History Scrip Represents
One of the interesting facts about mining company scrip is what makes coin collections which consist of them so unique. This is because the mining company’s took advantage of paying their employees in scrip by building stores near the mines where the mining employees and their families could shop. The companies scrip was the only currency accepted at these stores. The mining companies would often inflate the prices for the items sold at these stores because those who worked at the mines had no other way of getting the supplies they needed. By the time a miner paid for his rent for the housing provided by the mining company, their supplies at the mining store, and for other fees imposed by the company many miners were often in debt to the company at the end of the month.
Mining company coin collections are very rare because these coins are no longer made anywhere in the United States. This is because in the 1950’s laws were passed which made it illegal to pay a mining company’s employees in anything but U.S. currency. Mining company coin collections serve as an important reminder as to why we have labor laws in place to protect workers across the nation.
The Many Names for Mining Coins
Coins made and used by the mining companies had several names. Most of there were and still are referred to as scrip, which was the name given to the bulk of coins used in West Virginia and Kentucky. In other regions people gave the coins different names. Some of the names used to refer to the coins were stickers, dungaloos, p’lolly, flickers, and bingles. These are amusing abounding names given to an item which was designed to kept employees forever in debt to their employer. These names are still used by many to classify the coins in their mining coin collections.
Photo Credits: wcgaskins59
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