THE LABUK PLANTING COMPANY LTD. 50 CENTS TOKEN
The Labuk Planting Company Ltd 50 Cents Copper Nickel Proof Token.
Rarity: RRR
The Labuk Planting Company Ltd's 50 Cents Copper Nickel Proof Token is a Plantation Money at British North Borneo (Sabah).
They were numerous of tobacco, rubber and timber plantations in British North Borneo. Private plantation enterprise was minting their own estate tokens to be spent by the various plantations to pay their plantation workers.
This was happened due to a lack of payment in 1882. These tokens were also accepted as legal tender by the "British North Borneo Company" (BNBC). Due to abuse, these tokens were officially registered (State Regulation 1903, 1906 and 1912). Every company or society with more than one hundred plantation workers could, with prior permission from the authorities issue tokens with monetary value.
There were Proof minted in copper, nickel, copper- nickel, silver and bronze material with plain edge.
In 1920 the issue of this private plantation enterprise token was abolished. The companies were obliged to provide twenty percent of their total registered capital company money to the authorities, thus the private issuance of this plantation tokens came to an end on December 31, 1924 .
Due to only very small number of pieces can be traced via auctions, traders, publications, etc.,a conclusion can be drawn that these plantation tokens of British North Borneo in any denomination, can be classified are very rare ( RR) to extremely rare (RRR).
Rarity: RRR
They were numerous of tobacco, rubber and timber plantations in British North Borneo. Private plantation enterprise was minting their own estate tokens to be spent by the various plantations to pay their plantation workers.
This was happened due to a lack of payment in 1882. These tokens were also accepted as legal tender by the "British North Borneo Company" (BNBC). Due to abuse, these tokens were officially registered (State Regulation 1903, 1906 and 1912). Every company or society with more than one hundred plantation workers could, with prior permission from the authorities issue tokens with monetary value.
In 1920 the issue of this private plantation enterprise token was abolished. The companies were obliged to provide twenty percent of their total registered capital company money to the authorities, thus the private issuance of this plantation tokens came to an end on December 31, 1924 .
Due to only very small number of pieces can be traced via auctions, traders, publications, etc.,a conclusion can be drawn that these plantation tokens of British North Borneo in any denomination, can be classified are very rare ( RR) to extremely rare (RRR).
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