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Valued Member
United States
386 Posts
Posted 02/25/2015   6:38 pm  Show Profile Bookmark this topic Add GregAlex to your friends list  Get a Link to this Message
I picked this one up recently for less than $10, entirely for its amount -- half a million dollars in 1882! I believe a conservative present day value conversion would be roughly $16 million. And yet, still just a typical 2˘ revenue.

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Valued Member
United States
153 Posts
Posted 02/25/2015   7:53 pm  Show Profile Bookmark this reply Add MeadowviewCollector to your friends list  Get a Link to this Reply
nice acquisition

Even $5 was a huge sum in 1882.


-MV
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Bedrock Of The Community
United States
12125 Posts
Posted 02/25/2015   8:10 pm  Show Profile Bookmark this reply Add wt1 to your friends list  Get a Link to this Reply
This explains the check:

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Pillar Of The Community
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United States
835 Posts
Posted 02/26/2015   3:50 pm  Show Profile Bookmark this reply Add Trainwreck to your friends list  Get a Link to this Reply
An amazing historical connection.
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Pillar Of The Community
United States
1445 Posts
Posted 02/26/2015   6:25 pm  Show Profile Bookmark this reply Add Mike33 to your friends list  Get a Link to this Reply
That is awesome - to know what the check was for makes it even more awesome - great pickup!
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Pillar Of The Community
United States
3333 Posts
Posted 03/27/2015   07:56 am  Show Profile Bookmark this reply Add revcollector to your friends list  Get a Link to this Reply
The tax was 2 cents regardless of the amount of the check. Also the tax on receipts and promissory notes that were "on demand" or "at sight" were also 2 cents, although other types of promissory notes had higher taxes. These pennies added up, the financial paper taxes brought in the highest amount of revenue of any of the Schedule B taxes from 1862-1883. Matches brought in the second highest amount, at one cent per hundred since everyone needed them every day.
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New Member
Malta
1 Posts
Posted 12/18/2015   3:34 pm  Show Profile Bookmark this reply Add pizzifini to your friends list  Get a Link to this Reply
wt1 thanks for the explanation... it gives the check context and turns it from a curiosity to history
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United States Postal Service, Now on eBay!United States Postal Service, Now on eBay!
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