1 Cent - Central Markets Schenectady, New York

USDA-issued food coupons in fractional cent denominations were a practical necessity created by an arithmetic problem: the commodity price support programs of the 1930s through 1960s operated in quantities that didn't divide evenly into whole-cent values, leaving retailers unable to make change without a sub-denomination instrument. The Central Markets series, issued for specific authorized retailers rather than at the national level, represents the localized administration that characterized the program's early years before consolidation under more uniform federal coupon books.

The near-square format is unusual enough to complicate storage and cataloging — most coupon issues ran rectangular.