Premium Coal     Mingo County, West Virginia

          On July 21, 1926, the Premium Coal Company placed an order of 1000 pieces of scrip with the Ingle-Schierloh Company.  The denominations were 300 pennies, 150 nickels, 150 dimes, 100 quarters, 100 halves, and 200 one dollar pieces.  [See below]

     Premium had acquired part of the works of Kenner McCoy Coal Company on June 1, 1926, and had been using the McCoy scrip until able to purchase their own.  Kenner McCoy was operating another mine at a different location and wanted their scrip back.

     The new scrip was to be all brass with no cut-outs.  Ingle-Schierloh shipped the order by Railway Express on August 6th.  It soon arrived in Williamson but was never picked up by anyone from Premium Coal Company.

     After repeated attempts to collect their money, Ingle-Schierloh requested the freight agent at Williamson to return the shipment to them, which he did  on September 16, and billed Ingle-Schierloh ninety-eight cents—forty-nine cents each way.  The scrip was received in Dayton on September 22.

     Ingle-Schierloh turned the matter over the their attorneys in Dayton, E. H. & W. B. Turner who, in turn, contacted the law firm of Goodykoontz & Slaven in Williamson in an attempt to collect the $35.00 due to Ingle– Schierloh company.

     Goodykoontz & Slaven informed the plaintiff attorneys in Dayton that the officers of Premium had left town “between the suns” and there was nothing to collect, as debtors in the Williamson area had taken everything the company had.  They advised Goodykoontz & Slaven to cease efforts to collect.  The Ingle-Schierloh Company attorneys did advise them to that effect, and the company destroyed the dies from which the scrip was made and closed the books on Premium Coal.

     Premium operated only a few days and had no money except a small amount advanced to them by a coal agency which was brokering their coal.

     Which brings the questions—Where did the fifty cent and dollar pieces, which are relatively easy to find, come from?  Did someone at Williamson pilfer the shipment or did Ingle-Schierloh later sell the scrip to someone else?  Why are the other pieces so hard to find, when there were more pennies, nickels, and dimes made than halves and quarters?

     I guess this is why makes scrip collecting so intriguing, and why we enjoy it so much!

Jim Lackey, submitted December 2007