(Scotia, MO) - Scotia Iron Works Store 5 Cents Undated (ca. 1872). PCGS Very Fine 35. This is the first of five exceedingly rare 1870s Iron Works scrip notes, and they are all in fabulous condition. The issuer was not in the 1981 Vacca sale. Scotia Iron Furnace, currently a National Historic Place, was built in 1870 by John G. Scott, along with Thomas Howard, Robert Anderson, and Anvil James. James (interestingly named) was the son of Thomas James, founder of Maramec Iron Work in Phelps County and also an issuer of scrip. When it was in operation, the Scotia Iron Works was located north of Scotia, Missouri. A large percentage of the town worked there. The steam-powered furnace and nearby natural resources necessary for operation made it cost-effective and profitable to operate. The pig iron produced was sent to Leasburg and then shipped by rail to St. Louis for manufacturing into finished goods. In 1880, when the iron ore was depleted, the remaining machinery was moved to Dent County. Like the similarly-styled Ozark Iron Company's store notes, the city and date are not engraved on the lowest denominations, which are smaller than the dollar denominated notes. Printed on white bond paper by Democrat Lith. & Printing Co., but without imprint. At the left end is seated Justice. Titles are in the center with a large green \"5\" protector and FIVE CENTS across. At the right end a train vignette is below a \"5\" die. The engraved \"sup't\" signature of W. G. Darley is at the bottom. The red back has RECEIVABLE / FOR / MERCHANDISE / AT / CASH PRICES in an oval flanked by outlined counters. Unnumbered. Trimmed in at the left end slightly, but very bold color is seen on both sides. We are not aware of any other examples of Scotia Iron Works notes in private collections. Ex: Eric P. Newman Numismatic Education Society \n\n
From Newman VIII (Heritage Auctions, 11/2017), lot 28524, realized $240. Image and description courtesy of Heritage Auctions, https://ha.com.
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