1 Cent - Arapahoe Stores, Inc. #2 Pueblo, Colorado

Arapahoe Stores, Inc. was a cooperative grocery chain operating in Colorado, and scrip of this type was issued as a fractional trade token — a mechanism for returning change in denominations below the practical floor of metallic coinage without actually parting with cash. The "#2" designation indicates a specific branch location, meaning this cent was only redeemable at one store, which sharply limited its misuse and kept it functionally local.

Colorado cooperative scrip of this period rarely survives because it was designed to be spent back, not saved.