FREE: six tax tokens

*OLD LOUISIANA LUXURY TAX TOKENS*

These are old Louisiana 1 mill luxury tax tokens. They have the same
thing on both sides. They are made of aluminum and 7/8" in
diameter.Sales tax tokens were made in great quantities starting in 1935
in order to give change for sales taxes. Sales tax resulted in the final
price of items having fractions of a cent. For example, purchase of a
$1.25 item, taxed at 3%, would cost $1.2875, or $1.28 and 3/4c. What to
do? Rounding up to $1.29 would result in a "unfair" profit to the seller
of 1/4c, but rounding down would be unfair to the seller by reducing the
profit by 3/4c. The solution was to provide tokens denominated in
fractions of a cent, or "mills" (1 mill = 1/1000 of a dollar, or 1/10 of
a cent). So in the above example, the customer would pay $1.29 and
receive 2.5 mills in tax tokens as change. If the next purchase came to
$3.4325, the customer could pay $3.43 plus the 2.5 mills in tax tokens.
As you can imagine, people did not like having to carry a second set of
coins, and to further complicate matters, different states issued
different tax tokens. The use of tax tokens declined and was finally
discontinued in 1961, and people basically decided not to worry about
fractions of a cent.

these are interesting...can you give me any history behind them? Thanks, F/W.

that's so interesting! I never knew that, I guess I should have paid better attention in history class!
how did you come to have them?
and I see we both got beat out on the military button lot *grrrr*

i have one of them on my keychain,[someone gave it to me for luck],so i don't lose my keys anymore about 20years ago
he never told me what it was though
never lost my keys[where it took days to find them anyway]