Trading stamps are small pieces of glue-backed colored paper, given in proportion to purchases made and redeemable for merchandise. They were first used in the United States in Schuster's Department Store in Milwaukee, Wisconsin, in 1890. Schuster's gave the stamps to customers paying in cash in an effort to limit credit use. The S&H Green Stamp Co. attributes their invention to their founders (the Sperry and Hutchinson of S&H) in 1896 as a way to "say thank-you" to customers and calls the trading stamps "America's first frequent shopper program and grandfather of marketing promotions such as frequent flyer miles." The first S&H redemption center opened in 1897 as a kiosk. One of the earliest items in the catalog was a Bissell carpet sweeper; its modern counterpart was still in the catalog 100 years later.

The heyday of the trading stamp came during the 1950s and 1960s when...