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25 Cents - Schwegmann Bros. Giant Super Markets
| Issuer | Schwegmann Bros. Giant Super Markets |
|---|---|
| Year | 1969 |
| Type | Vouchers |
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| Obverse description | Green-tinted voucher on plain paper with a fine horizontal-line underprint and an ornate guilloche border running the full perimeter. The issuer's name in Gothic blackletter type heads the centre, above bold sans-serif lettering stating the denomination and U.S. Food Stamp Program purpose. A manuscript signature of John Schwegmann appears at lower centre above the caption INDIVIDUALLY AND AS AGENT AND ATTORNEY-IN-FACT, with a red serial number printed vertically at left. |
|---|---|
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| Reverse lettering | 25¢ 25¢ |
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| Comments |
Schwegmann Bros. Giant Super Markets issued scrip denominated in U.S. cents during a period when the United States was experiencing a genuine coin shortage severe enough that private businesses, transit systems, and municipalities resorted to producing their own small-change substitutes. The New Orleans chain — a local institution at the time, known for its cavernous warehouse-style stores — printed and circulated this scrip locally, redeemable against purchases. It was legal under the specific exemptions that distinguished retailer-issued exchange media from federally prohibited currency substitutes.
The coin shortage of the late 1960s traced directly to rising silver prices and hoarding that followed the Coinage Act of 1965, which removed silver from dimes and quarters. Schwegmann's scrip is a physical record of that disruption hitting the checkout lane.