6 October 1932, a "penny auction" took place in Nebraska during the great depression, in possibly the first use of this tactic devised by poor farmers. Across the midwest, many poor farmers were being kicked off their land by foreclosures. Local residents and radicals organised militant self defence to stop foreclosed farms from being auctioned off by bank agents and sheriffs.
https://stories.workingclasshistory.com/article/10662/penny-auctions
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