Money is on the mind of many with the big powerball drawing.
The Marquette Regional History Center had a different kind of money on display.
Iron money was a type of paper currency issued by the mining companies out of the Marquette Iron Range between 1852 and 1874.
Federal paper currency in the United States was in decline after the Revolutionary War.
Gold and silver coins were the standard.
In the U.P. many people were not seeing any money.
So, they turned to iron money.
Bill Van Koski says, “Our mining companies started digging in the 1940’s. Well, there was no federal currency. So, they were desperate to be able to pay their bills, to pay the miners, to pay the merchants and what have you. So, they started printing these promissory notes which began to circulate and the people in the area liked this idea because at last they were seeing money.”
People at the presentation were able to look through a notebook filled with different types of the iron money.