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Information about Company Scrip

Numismatics
Terminology
Currency
Circulating currencies
Community currencies
Company scrip, LETS,
Time dollars
Fictional currencies
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Production
Exonumia
Notaphily
Scripophily
Company scrip is currency issued in certain industries to pay workers. Such scrip can only be exchanged by wage-earners in company stores owned by their employers and often charging inflated prices. In the UK, such systems have been formally outlawed under Truck Acts.

Enlarge picture
Scrip minted by Olga Coal Company, Coalwood, WV
In the United States, mining and logging camps were typically created, owned and operated by a single company. These remote locations were cash poor and workers had very little choice but to purchase goods at a company store. With this economic monopoly, the employer could place enormous markups on goods, making workers completely dependent on the company, thus enforcing employee "loyalty".

See also



Numismatics (Lat. numisma, nomisma, a coin; from the Greek, derived from voµi eiv, to use according to law), is the scientific study of currency and its history in all its varied forms.
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Numismatics (ancient Greek: νομισματική) is the scientific study of money and its history in all its varied forms.
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currency is a unit of exchange, facilitating the transfer of goods and/or services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency is the dominant medium of exchange.
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COIN can refer to:
  • Collaborative Innovation Networks
  • Counterinsurgency
  • Coin


This article is about monetary coins.

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banknote (often known as a bill or simply note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and under many jurisdictions is used as legal tender.
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<onlyinclude> This list of circulating currencies contains the 194 current official or de facto currencies of the 192 United Nations member states, one UN observer state, three partially recognized sovereign states, six unrecognized countries, and 32 dependencies.
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In economics, a local currency, in its common usage, is a currency not backed by a national government (and not necessarily legal tender), and intended to trade only in a small area. These currencies are also referred to as community currency.
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Local Exchange Trading Systems (LETS) also known as LETSystems are local, non-profit exchange networks in which goods and services can be traded without the need for printed currency.
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time-based currency is an alternative currency where the unit of exchange is the hour.

Time-based currencies value everyone’s contributions equally. One hour equals one service credit.
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Fictional currency is currency in works of fiction. It is often invented, bearing little or no resemblance to any modern or historic currency. This is a necessary plot device, in order to increment the completeness of the environment, and at the same time dissociate it from any
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"Mints" redirects here. For other uses, see Mint (disambiguation).

A mint is a place or facility which manufactures coins for currency.

On the whole, the history of mints correlates very closely with the history of coins.
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Coining is a form of precision stamping. It differs from simple stamping in that enough pressure is used to cause plastic flow of the surface of the material. A beneficial feature is that in some materials, such as phosphor bronze, the plastic flow breaks up the surface
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In numismatics, the term milled coinage (also known as machine-struck coinage) is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies (hammered coinage) or casting coins from dies.
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Hammered coinage describes the commonest form of coins produced since the invention of coins in the first millennium BC until the early modern period of ca. the 15th-17th centuries.
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Exonumia is the study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration. This includes elongated coins, encased coins, souvenir medallions, tags, badges, counterstamped coins, wooden nickels
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A credit card is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user's account after every transaction.
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A medal is a small metal object, usually engraved with insignia, that is awarded to a person for athletic, military, scientific, academic or some other kind of achievement. There also exist devotional medals, worn to indicate religious faith.
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token coins or tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used in place of coins and either have a denomination shown or implied by size, color or shape.
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Notaphily is the study of paper money or banknotes. A notaphilist is a collector of banknotes, paper money, paper currency or plastic notes.

History

It is believed that people have been collecting paper money for as long as it has been in use.
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banknote (often known as a bill or simply note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and under many jurisdictions is used as legal tender.
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Scripophily is the study and collection of stocks and bonds. A specialized field of numismatics, scripophily is an interesting area of collecting due to both the inherent beauty of some historical documents as well as the interesting historical context of each document.
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In financial markets, the stock capital of a corporation or a joint-stock company is the capital raised through the issuance, sale and distribution of shares. A person or organization that holds at least a partial share of stock is called a shareholder.
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bond is a debt security, in which the authorized issuer owes the holders a debt and is obliged to repay the principal and interest (the coupon) at a later date, termed maturity.
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currency is a unit of exchange, facilitating the transfer of goods and/or services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency is the dominant medium of exchange.
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labour (or labor) is a measure of the work done by human beings. It is conventionally contrasted with such other factors of production as land and capital. There are theories which have created a concept called human capital (referring to the skills that workers possess, not
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Scrip is any substitute for currency which is not legal tender, and is often a form of credit. Scrips were created as company payment of employees and also as a means of payment in times where regular money is unavailable, such as remote coal towns or occupied countries in war time.
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WAGE can refer to:
  • Wide Area GPS Enhancement
  • WAGE (AM), an AM radio station located in Leesburg, Virginia
A wage is a compensation which workers receive in exchange for their labor.
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The term truck system refers to a form of unfree labour in which workers are paid in goods and/or services, instead of money. It should be noted that truck systems, per se, are distinguished from truck wages
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Motto
"Dieu et mon droit" [2]   (French)
"God and my right"
Anthem
"God Save the Queen" [3]
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Truck Acts is the name given to legislation that outlaws truck systems, which are also known as "company store" systems, or debt bondage. Such laws were first introduced in Britain in the 18th century but have also been implemented in other countries.
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