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1 Cent - Schwegmann Bros. Giant Super Markets
| Issuer | Schwegmann Bros. Giant Super Markets |
|---|---|
| Year | 1969 |
| Type | Log in to see details |
| Value | 1 Cent 0.01 USD = EUR 0.0085 |
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| Obverse description | Orange letterpress voucher with denomination "1¢" at upper left and right corners. Central text reads "Schwegmann Bros. Giant Super Markets" above "US FOOD STAMP PROGRAM REFUND — ONE CENT", with redemption conditions and date of issue May 1, 1974 printed below. |
|---|---|
| Obverse lettering | NOT REFUNDABLE IN CASH 1¢ Schwegmann Bros. 1¢ GIANT SUPER MARKETS in the greater New Orleans Area, Louisiana US FOOD STAMP PROGRAM REFUND ------ONE CENT------- Redeemable at any Schwegmann Bros. Supermarket on the purchase of food items only. Date of Issue MAY 1,1974 1¢ 1¢ |
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| Comments |
Schwegmann Brothers ran one of the most aggressively idiosyncratic retail operations in mid-century America, and their private scrip program was entirely in character. When Louisiana's blue laws and banking customs created change-making headaches — particularly around sales tax calculations — John Schwegmann simply printed his own fractional currency, redeemable in-store. It was legally permissible as a merchant coupon instrument rather than a true monetary obligation.
The guilloche printing kept casual counterfeiting uneconomical relative to the face value, which was the practical minimum required for the scheme to function. These circulated heavily within the New Orleans metro customer base and most were spent, not saved.