1 Cent - Vons Market Los Angeles, California

Vons Market issued small-denomination paper scrip — including this 1-cent piece — as a practical workaround for the chronic coin shortage that periodically plagued American retail in the mid-twentieth century. Grocery chains in California were among the most active private scrip issuers, redeeming the notes in-store rather than making change in coin.

Acceptance was entirely at the issuer's discretion, with no regulatory backing. That informality is precisely why so few examples survive in any condition.