1907 Milwaukee Panic Scrip
(click to enlarge)
Pictured here is a $1, 1907 Milwaukee panic scrip. Issued by the First National Bank and payable to the Marshall & Ilsley Bank, it was issued because of a downturn in the market similar to what we experienced in 2008. The Knickerbocker Trust Bank of New York City closed in 1907 affecting 18,000 depositors. People across the country panicked and tried to withdraw their money. The banks were unable to provide the necessary cash. Clearing houses and businesses quickly stepped in by issuing emergency money to fill the void.
Eleven banks were members of the Milwaukee Clearing House and issued notes called "panic scrip". They were used from October, 1907 to February, 1908. The Milwaukee pieces were issued in $1, $5, and $10 denominations. They are listed in a newly released book, Panic Scrip of 1893, 1907 and 1914, by Neil Shafer and Tom Sheehan.
- courtesy of Tom Casper
Calendar of Events
Please verify show status with their organizers before attending.2024
- Feb 18: Oshkosh Show - Oshkosh, WI
- Feb 25: Madison Show - Middleton, WI
- Mar 10: Waukesha Coin Club Show - New Berlin, WI
- Mar 14-16: ANA Spring Show - Phoenix, AZ
- Mar 24: Elgin Coin Club Show - Elgin, IL
- Mar 24: Fox Valley Coin Club Show - Appleton, WI
- April 21: South Shore Coin Club Show - Sheraton Brookfield
- April 21: MNS Boy Scout Clinic at SSCC Show
- April 28: Nicolet Coin Club Show - Green Bay, WI
- May 1-4: CSNS Convention - Schaumburg, IL
- June 16-26: ANA Summer Seminar - Colorado Springs, CO
- August 6-10: ANA World's Fair of Money - Rosemont, IL
- Nov 10: MNS Coin Show - Sheraton Brookfield
News and Awards
- Leon Saryan Named Numismatic Ambassador
- Joe Paonessa Receives ANA Smedley Award
- Neil Shafer Distinguished Service Award
- CSNS Seminar in Milwaukee May 23, 2015
- Neil Shafer Receives ANA's Highest Honor
- 2014 Boy Scout Merit Badge Clinic
- MNS Donates Books to Local Libraries
- 2012 Boy Scout Merit Badge Clinic
- 2010 Young Numismatist of the Year
- ANA 75-Year Club Award
- Lee H.: Numismatic Ambassador