In the United States, a wooden nickel is a wooden token coin, usually issued by a merchant or bank as a promotion, sometimes redeemable for a specific item such as a drink. Scrip and tokens have often been issued locally in times of severe economic distress such as financial crises and the Civil War. During the

Great Depression The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagio ...

, after the failure of the Citizens Bank of Tenino in Tenino, Washington, the local Chamber of Commerce teamed up with the local newspaper to issue scrip equivalent to 25% of people's bank deposits that could be spent at local merchants.

Blaine, Washington Blaine is a city in Whatcom County, Washington, United States. The city's northern boundary is the Canada–U.S. border; the Peace Arch international monument straddles the border of both countries. The population was 5,884 at the 2020 census. ...

, soon did the same with both flat scrip and, in response to requests generated by news and word of mouth, coins that included a 5-cent piece.

The Chicago World's Fair The World's Columbian Exposition (also known as the Chicago World's Fair) was a world's fair held in Chicago in 1893 to celebrate the 400th anniversary of Christopher Columbus's arrival in the New World in 1492. The centerpiece of the Fair, hel ...

in 1933 issued wooden nickels as souvenirs, and the tradition of wooden nickels as tokens and souvenirs continues to the present day. In a 21st century twist to Tenino, Washington’s Depression-era use of paper and wooden scrip to aid its citizens, that community is once again issuing wooden scrip to help its citizens and local merchants via its COVID-19 Grant Recovery programme.Now Accepting COVID-19 Recovery Grant Applications!!
City of Tenino Washington, n.d. ''(Retrieved 2020-03-01.)'' Upon successful grant application, the grantee can spend the wooden scrip at participating shops in the town. Alternatively, the recipient can use the scrip, or equivalent credit, towards their municipal utility bills. An American

adage An adage (; Latin: adagium) is a memorable and usually philosophical aphorism that communicates an important truth derived from experience, custom, or both, and that many people consider true and credible because of its longeval tradition, i.e. ...

, "Don't take any wooden nickels", is considered a lighthearted reminder to be cautious in one's dealings. This adage precedes the use of wooden nickels as a replacement currency, suggesting that its origins lie not in the genuine monetary value of nickels, but rather in their purely commemorative nature.

References

Exonumia Great Depression in the United States Token coins {{coin-stub

See also

References