Big Money check  

 

I picked this one up recently for less than $10, entirely for its amount -- half a million dollars in 1882! I believe a conservative present day value conversion would be roughly $16 million. And yet, still just a typical 2¢ revenue.

nice acquisition

Even $5 was a huge sum in 1882.


-MV

This explains the check:

An amazing historical connection.

That is awesome - to know what the check was for makes it even more awesome - great pickup!

The tax was 2 cents regardless of the amount of the check. Also the tax on receipts and promissory notes that were "on demand" or "at sight" were also 2 cents, although other types of promissory notes had higher taxes. These pennies added up, the financial paper taxes brought in the highest amount of revenue of any of the Schedule B taxes from 1862-1883. Matches brought in the second highest amount, at one cent per hundred since everyone needed them every day.

wt1 thanks for the explanation... it gives the check context and turns it from a curiosity to history