FREE: ARIZONA STATE SALES TAX TOKEN - UNCIRCULATED
A member of Listia gave this away for free!
Do you want FREE stuff like this?
Listia is 100% Free to use
Over 100,000 items are FREE on Listia
Declutter your home & save money
"Listia is like EBay, except everything is free"- Los Angeles Times
"An Awesome Way To Give And Get Free Stuff"- Michael Arrington, TechCrunch
This Stuff is Free Too:
FREE
FREE
FREE
FREE
FREE
Description
The listing, ARIZONA STATE SALES TAX TOKEN - UNCIRCULATED has ended.
ARIZONA STATE SALES TAX TOKEN - UNCIRCULATED - SHIPPED IN CARDBOARD HOLDER
Merchants had to pay sales tax to the state on the total amount of sales made by the merchant during each day's sales. You can imagine that if the sales tax rate is 3% and a child buys a 10c piece of candy there is no way to collect the three-tenths of one cent. If you rounded down that meant that the merchant could not collect anything for the tax. If you rounded up the state was gaining 7 tenths of a cent on every 10 cent sale. You can see that if the merchant sold 100 pieces of candy he was loosing 30 cents a day in tax revenues to the state, so the token was born. This allowed the merchant to take 11 cents for the first piece of candy and give change back in mills. The next time you wanted to buy a 10c candy you could present the merchant with the 10c and a token and complete the transaction. This allowed the merchant to collect the sales tax on each transaction.
This variety is listed as being struck in 1945-1946 at a mintage of 550,000, and these tokens were made by the Osborne Register Company. They also note that Gordon Jones of Phoenix, Arizona bought a hoard of 200,000 AZ tokens when the state discontinued use of them, so additional varieties may be waiting to be discovered.