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Description:
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A round five-penny dividend token of the Manchester and Salford Equitable Co-operative Society Ltd. The token was struck by George Yorke Iliffe of Birmingham. The obverse and reverse are identical.
Dividend tokens to the value of the amount spent were handed to co-op customers for each transaction. When a number of tokens had been collected, they could be exchanged for a single token of higher denomination. Each year, a dividend, expressed in pence per pound, was declared, and holders of the tokens were able to exchange them for cash at that rate. If the rate was judged to be too low, holders of the tokens could retain them in the hope that it would improve the following year.
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Keywords:
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Co-operative Society Dividend Token
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State:
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England
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Reign/Issue Authority:
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Manchester and Salford Equitable Co-operative Society Ltd
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Denomination:
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Five pence
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Classification:
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Co-operative society dividend token
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Mint:
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George Yorke Iliffe, Birmingham
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Moneyer:
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Issue Date:
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Late 19th to early 20th century
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Metal:
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Brass
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Weight (grams):
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2.7g
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Diameter (mm):
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25mm
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Obverse Description:
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Denomination, 5D; G Y Iliffe below.
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Obverse Legend:
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MANCHESTER & SALFORD EQUE CO-OPE SY LD
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Reverse Description:
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Denomination, 5D; G Y Iliffe below.
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Reverse Legend:
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MANCHESTER & SALFORD EQUE CO-OPE SY LD
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References:
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Michael Mitchiner, Jetons, Medalets & Tokens, No.9500
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Comments:
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Findspot:
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Near Solihull
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County:
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WEST MIDLANDS
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Recorded elsewhere:
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No
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Finder:
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Hidden
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Metal Detector Used:
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Minelab Explorer II
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Validated By:
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Rod Blunt
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;)
;)
