May 2013

Not Your Grandma's Wooden Nickel: Fears of Global Economic Instablility Spawn DIY Money

In These TImes - Julia Pergolini - The American idiom “Don’t take any wooden nickels!” predates the 1930s, but that era’s bank crises did lead to the actual use of wooden currency. When local banks failed or were inaccessible in the Pacific Northwest, some merchants and towns issued wooden money as a stopgap. The wooden nickels circulated as IOUs until the banks became accessible.