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Julie Vognarand some do indeed have coupons. But, he explained, those coupons were worth real stuff, like a catcher's mit, a real baseball, or a radio (later). What kid wouldn't tear them off, and during the depression, what adult?
That's why so few Zeenuts with coupons are found. I believe Lemke lists them without coupons.
I'm going to check, and if I don't come back, I was right about Lemke.
Among all his listings, beginning in 1911, only the 1922, and the 1933-36 (one set) have coupons. Yet he gives three grades.
I think Mark is prouder of his Zeenuts with Coupons than any other feature of any other card.
I'd say, a coupon demands a premium, but a card can be called near mint without one.