1864 J. C. Tucker Brookline NH 3 Cents Merchant Scrip - Civil War Era Note - Brookline New Hampshire Three Cent Obsolete Merchant Note
1864 J. C. Tucker Brookline NH 3 Cents Merchant Scrip - Civil War Era Note - Brookline New Hampshire Three Cent Obsolete Merchant Note
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This listing is for the photographed 1864 J. C. Tucker 3 Cents Obsolete Merchant Scrip Note. This note was issued by the merchant Joseph C. Tucker from Brookline, New Hampshire on July 4th, 1864. A portrait of John C. Tucker is printed at the center of this note. The scrip was backed by the cashier of the Townsend Bank, Walter Fessenden. Very Fine (VF) grade/condition, some visible folds and other signs of circulation. Interesting and rarer obsolete note in excellent condition! LaFond gives this note an R3 rarity. Must have for any collection!
This scrip note would be used similar to a modern-day coupon, giving the customer a discount of the determined amount off of their purchase of more than 1 dollar at the merchant's store. Scrip notes were popularly used during the Civil War and the aftermath of the economic panic of 1857 in an attempt to boost sales for local businesses.
Joseph C. Tucker began his merchant career opening a country store with fellow local Brookline merchant Henry Stiles in 1846 under the name Tucker & Stiles. They offered various groceries and imported foreign goods from the West Indies. By 1859 the company was estimated to be worth $20,000. Later that year in November 1859, the business made a poor investment in a Boston coal oil venture, leaving them $5000 in debt. Tucker and Stiles sought the help of Walter Fessenden, cashier of the Townsend Bank, to get a loan to pay off their debt. The business continued after the scandal, but they never returned to their former success, ultimately closing the business in 1864. After the business closed, Joseph C. Tucker opened his own store later that same year. The store itself did not last long, as Tucker moved to Boston in 1865 to open a new store in the city.
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1864 J. C. Tucker Brookline NH 3 Cents Merchant Scrip - Civil War Era Note - Brookline New Hampshire Three Cent Obsolete Merchant Note
