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    Very Rare Logan Z.C.M.I. 1894 Scrip

    Logan, UT - Logan Branch Z.C.M.I. 50 Cents Feb. 1, 1894. PCGS Fine 15 Apparent.
    The Zions Co-operative Mercantile Institution or "ZCMI" notes circulated in the territory as scrip used for salaries and goods among residents and the Co-operative branches. Utah local currency is extremely complex and catalogers are not universal in the order of placement of the issues. The first series Salt Lake City notes were simple and locally printed. Their counterfeiting led to lithographed notes with the imprint of Ezra A. Cook, Chicago, Ill. being printed and issued. This is a very rare Logan Branch Zions Co-operative Mercantile Institution note and is the latest date from Logan we have observed. Printed on white paper in all green inking. Issued just two years prior to statehood, Nyholm illustrates an 1888 type, also printed in green, and Rust does not list the series. An ornamental border is all around with ornate corners. The location and date at the top right are distinctively drop-shadowed. The counter and branches at left have a somewhat Asian quality, in keeping with the influence of Japanese art in the late 1800s. The textual denomination at center is in a decorative cartouche outlined in white. Obligation "Payable only at the Logan Branch in Merchandise at Retail" to be in compliance with Federal law. Title at lower left is in intricate fonts. This has the ornate signature of Isaac Smith. Some trivial specks of rust are noted as "Minor Stains." Another seldom seen Mormon note rarity, and missing from the major Mormon note auctions in the past decade.
    Ex: Eric P. Newman Numismatic Education Society

    Auction Info

    Auction Dates
    October, 2015
    21st-24th Wednesday-Saturday
    Bids + Registered Phone Bidders: 14
    Lot Tracking Activity: N/A
    Page Views: 247

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Truth Seeker: The Life of Eric P. Newman (softcover)
    A powerful and intimidating dealer of the 1960s, backed by important colleagues, was accused of selling fraudulent gold coins and ingots to unsuspecting numismatists. Who would go up against a man like that and, over the course of decades, prove the fraud? Who would expose a widely respected scholar as a thief, then doggedly pursue recovery of coins that the scholar had stolen from an embarrassed numismatic organization, all over the objections of influential collectors who had bought coins with clouded titles? Eric P. Newman would - and did. Reserve your copy today.
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