Colonial Acres Coins
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Ca. 1911 Grand River Pulp & Lumber Co. 5-cents Merchant Scrip Legacy Certified UNC-62
Ca. 1911 Grand River Pulp & Lumber Co. 5-cents Merchant Scrip Legacy Certified UNC-62
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Ca. 1911 Grand River Pulp & Lumber Co., Grand River NL, 5-cents Merchant Scrip Legacy Certified UNC-62, Serial #2902
During a time when banks were not established in remote areas of Canada, paying employees meant shipping currency long distances into wild - and often lawless - regions, at great risk. In alternative, companies began to issue their own money, which were called "scrip". This money was redeemable for products at the company store, and frequently within the local economy. The Grand River Pulp & Lumber Company was established at Hamilton Inlet at the mouth of what is now the Churchill River, near Goose Bay, Labrador. From 1902-1911, the company issued scrip in 5-cent, 10-cent, 25-cent, 50-cent, $1, $2, and $5 denominations to pay their lumber workers.
During a time when banks were not established in remote areas of Canada, paying employees meant shipping currency long distances into wild - and often lawless - regions, at great risk. In alternative, companies began to issue their own money, which were called "scrip". This money was redeemable for products at the company store, and frequently within the local economy. The Grand River Pulp & Lumber Company was established at Hamilton Inlet at the mouth of what is now the Churchill River, near Goose Bay, Labrador. From 1902-1911, the company issued scrip in 5-cent, 10-cent, 25-cent, 50-cent, $1, $2, and $5 denominations to pay their lumber workers.
