Volume 6 , Issue 11

Mill Tokens...

"The mill tokens were used because of the sales tax. It was not calculated to the nearest penny as it is today. In those days an item might cost 50 cents with 5 mills tax (I don't what the actual rate was in those days.) If you gave the clerk a 50 cent piece and a penny, they would give you a 5 mill token back. The mill token's name derive from the fact that they were worth one-thousandths of a dollar and the latin for one-thousandth was millensimus (as good as my latin is.) The same reason applies to a penny, known as a cent from the latin centesimus. Anyway, even in the forties, they weren't considered worth much, something like pennies are nowadays, sometimes not worth bending over to pick one up from the ground. Just something to pay tax with and fill up your pocket. As a kid, my parents often gave them to me, wish I'd kept them, especially the metal ones." -- Gary   |  View or Add Comments (0 Comments)   |   Receive updates ( subscribers)  |   Unsubscribe

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