Coins - United States

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Coins from the United States

NewMexicoTaxToken.jpg NewMexicoTaxTokenReverse.jpg
A "Tax Token" minted by the New Mexico Bureau of Revenue in 1935. On it is written "Emergency School Tax on Purchase of Five Cents". This token was actually good for "ONE MILL" or 1/1,000 of a dollar or 1/10 of a cent. These tax tokens began in the US in 1933 and New Mexico started in 1935 (same year as this token) when a sales tax was implemented in the state. In order for a merchant to collect tax on a 10 cent item or penny candy, for instance, he had to use these tax tokens (worth fractions of a cent) in order to properly make change. People quickly became tired of using these cumbersome and worthless little things, and they were eventually discontinued. Missouri was the last state to discontinue their tokens, in 1961.

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