1862 Concord NH George Hutchins & Co. 5 Cents Scrip - Union Bank Scrip - Rare Civil War Era New Hampshire Obsolete Five Cent Store Note

This listing is for the photographed 1862 Concord NH George Hutchins & Co. 5 Cents Obsolete Merchant Scrip Note. This note was issued on November 1st, 1862, for the store of George Hutchins in Concord, New Hampshire. The businesses stamp is printed on the center of the reverse side of the note. Issued and signed, adding to the notes value. These scrip notes were financially backed by the Union Bank, as identified by their name on the obverse. Very Fine (VF) grade/condition, some visible folds and other signs of circulation. Rarity level 6 (R6) according to LaFond's catalogue on New Hampshire Merchant Scrip. Great rarer find with an incredibly interesting history!

In the United States during the 1860s, the issuance of merchant scrip became widespread as a practical response to severe coin shortages caused by the Civil War. As gold and silver coins disappeared from circulation local merchants and businesses began printing their own small denomination notes to facilitate everyday transactions. This “scrip” functioned as a substitute for official currency, acting much like modern-day store credit, allowing customers to buy goods or make change when federal money was scarce. Though unofficial and often limited in where it could be spent, merchant scrip helped keep local economies functioning until a stable supply of national currency returned later in the decade.

George Hutchins was a native of Concord, New Hampshire. He joined his brother, Charles Hutchins at his grocery business in 1815. Hutchins opened his own store in 1822 where he sold groceries, flour, and various West Indies goods (spices, tea, salt, sugar, molasses, rum, etc.). His new store was on Main St, just north of the popular Phenix Hotel. By 1856 his store moved to Depot Square. George Hutchins retired in 1866 and turned the business over to his two sons, George and Abel.

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1862 Concord NH George Hutchins & Co. 5 Cents Scrip - Union Bank Scrip - Rare Civil War Era New Hampshire Obsolete Five Cent Store Note