12 1/2 Cents Huntingdon, Cambria and Indiana Turnpike Road Company

Turnpike companies issuing their own fractional scrip was common practice in early nineteenth-century Pennsylvania, where small coin was chronically scarce and tolls needed to be made. This note predates the formal chartering disputes that plagued several Pennsylvania turnpike companies in the 1820s, and Murray, Draper, Fairman & Co. — one of the most accomplished security engravers operating in Philadelphia at the time — handled the printing, the same firm that later contributed to early United States banknote work before its principals reorganized into successor houses.

The 12½-cent denomination reflects the Spanish real, still the practical unit of everyday change in Pennsylvania in 1816.