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Butter Cup Silver Mining Issued $3 Note [200118]

Currency:USD Category:Coins & Paper Money Start Price:500.00 USD Estimated At:1,000.00 - 3,000.00 USD
Butter Cup Silver Mining Issued $3 Note [200118]
SOLD
550.00USDto 8*************e+ buyer's premium (137.50)
This item SOLD at 2025 Aug 10 @ 09:42UTC-07:00 : PDT/MST
FINAL AUCTION RECORD The Auctioneer’s podium notes serve as the final, legally binding record of the auction results, superseding any electronic bidding records. See Terms and Conditions
Most of the handful of Butter Cup scrip are unissued remainders. This $3 note was fully issued on December 22, 1870, and was cancelled by three small holes at the signature. Although the condition suffers, this is one of the rarest scrip notes from Nevada.

Located in New York Canyon near Eureka, the Butter Cup mine was a real producer beginning in 1867. By the 1870s silver and gold coins were scarce and had to be shipped in weekly to meet pay role. So the Butter Cup management decided to issue this scrip in order to reduce the volume of coins every week. Not only was this illegal but the miners refused to accept anything but gold and silver for their wages. These notes, printed by the National Bank Note Co., are very seldom encountered and they are almost always unissued remainders.
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Date: 1870
Country (if not USA):
State: Nevada
City: Eureka
Provenance: Douglas McDonald Collection