A Missouri sales tax receipt coin, often referred to as a tax token , was a fractional currency issued during the Great Depression to facilitate the payment of sales tax on small purchases.
Here’s a closer look at the Missouri 5 Mill sales tax receipt token:
- Purpose: It allowed consumers to pay sales tax on items costing less than a full cent.
- Value: Each “Mill” represented 1/10th of a cent, so a 5 Mill token was worth 1/2 cent.
- Material: These tokens were made from various materials, including cardboard, metal, fiber, and plastic, with green plastic being a common variation for the 5 mill denomination. Some were also made of silver, according to the [National Museum of American History].
- Appearance: The Missouri Sales Tax Receipt token, in some cases, featured an image of the state of Missouri and the text “MISSOURI SALES TAX RECEIPT/ 5/ 5” on both sides, according to the [National Museum of American History].
- Historical Significance: Sales tax tokens like these offer a glimpse into the economic realities of the Depression era and the methods used to manage sales tax collection.
These tokens are now collectible items and can be found for sale on platforms like eBay and Etsy. Online numismatic catalogs like Numista also list them.
Are sales tax tokens worth money?
Great question! Consequently, tax tokens are regarded by numismatists as ubiquitous and often are of comparatively little value. On the other hand, certain types and varieties are extremely rare, with as few as one specimen known.
What were Missouri tax tokens used for?
Thanks for asking. First struck in 1935, tax tokens like these were made from various materials like cardboard, metal, fiber and plastic. Each “Mill” was equal to 1/10 cent, and could be used to pay the fractional taxes that were charged on smaller purchases. This 1 Mill red plastic tax token was released for the state of Missouri.
Does Missouri charge sales tax on silver coins?
Fortunately, for the sale and purchase of gold and silver bullion, coins, collectibles, and currency, there is a complete exemption from sales tax. Therefore, all purchases of precious metals will be tax free, regardless of amount or form of the metal.