In a time of desperation more than 70 years ago, one community launched what was to become a fascinating slice of the hobby of numismatics.
Wooden money was first used in the United States in 1932, when Tenino in Thurston County, Wash., issued wooden money printed on slices of spruce or red cedar, known as slicewood.
The Dec. 4, 1931, closing of the Citizens Bank of Tenino inspired merchants and townspeople to use wooden 25-cent, $1, $5 and $10 tokens as a substitute for the community's assets frozen in the banking crisis.
The Tenino Chamber of Commerce agreed to issue wooden scrip against individuals' assignments of up to 25 percent of their deposits.
The chamber guaranteed redemption of the wooden scrip upon payments of the dividends that had been assigned.
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MONKEYS IN outer space seem to be the theme of this wooden nickel produced in 1969. The wood marks the launch of Biosatellite 3 with the monkey Bonny aboard. Primate space flights helped improve future manned space flights.
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The plan allowed depositors to use a portion of their "frozen" assets and the community to continue to function.
The wooden scrip - wafer-thin slices of locally grown spruce and other wood - was later reinforced with paper between the laminated sheets of wood.
Of the $3,255 worth of wooden money issued, $1,279 circulated, with $1,079.75 eventually redeemed by the Chamber of Commerce.
The wooden money quickly attracted the attention of collectors.
Eventually eight issues of wooden money were printed from 1932 to 1933, mostly in 25-cent denominations, but also in 50-cent and $1 denominations, to satisfy collectors and souvenir hunters.
The original woods were made from slices of local spruce and red cedar that were 1/80th of an inch thick.
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COIN CLUBS regularly use wooden nickels to advertise their shows and offer additions to the collections of wooden money collectors.
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The wood was eventually reinforced with paper between the sheets, producing a sturdy, functional currency known as "slicewood," which laminates bond paper between the slices of wood.
Thus were born wooden rounds and wooden flats, first used for emergency money and later as advertisement vehicles.
The idea of wooden money caught on around the country and soon merchants, politicians and others were looking for ways to use the concept.
These relatively inexpensive but personalized wooden rounds offer a way to mark a special occasion, new business opening, historical event or other activity.
Local communities have issued wooden money as a means to raise funds to defray the costs of promoting anniversaries and other celebrations, and redeemed the pieces for face values.
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PHILADELPHIA COIN CLUB celebrated its 60th anniversary in 1995 by issuing this wooden dollar.
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Manufacturers have produced round, square and wooden flat issues, as well as some with odd shapes.
Their uses have yet to be exhausted. Wooden money has been used as advertising promotions for restaurants, coin club shows and anniversaries; as personal announcements for such events as weddings and births; and as holiday greetings, just to name a few uses of wooden money.
Some merchants still issue woods that are redeemable for minimal value in cash, goods or services as a promotional gimmick.
You just might see wooden nickels show up as giveaways at political rallies, county and state fairs functions and anything else you can think of to celebrate or remember.
One of the most popular ways is to send personalized holiday greetings to friends and relatives.
There are several organizations for collectors of wooden money. The International Organization of Wooden Money Collectors publishes a newsletter called Bunyan's Chips.
The Dedicated Wooden Money Collectors publishes Timber Lines as a way to connect with its membership.
To find out more about these organizations write to IOWMC, 5295 Beechwood Road, Ravenna, OH 44266-9119 and to DWMC, Box 513, Mammoth, WY 82190-0513.
The Old Time Wooden Nickel Co. may be one of the oldest manufacturers of wooden money.
The company started making woods in 1948 and hasn't looked back.
On an average day the company receives 15 to 20 orders and prints about 20,000 wooden nickels or roughly 5 million woods per year. Each wood costs about 12 cents to produce from maple and birch hardwoods.
The company also serves as host for the wooden nickel museum in San Antonio where the company is located.
A Web site for the museum is located at www.wooden-nickel.net.
