Shin Plaster Law and Legal Definition

Shin plaster means a bank note of low denomination that has greatly depreciated in value. Generally, a shin plaster’s denomination is less than one dollar. Earlier, these bank notes were issued by banks, merchants, wealthy individuals, and associations in various places. An example of shin plaster is the paper money of the Republic of Texas in relation to the U.S. dollar. In addition, shin-plaster was commonly a Canadian slang for a twenty-five cent note.

It is from the quality of the paper that the name shin plaster came. Usually the paper used for making shin plaster was so cheap that with a bit of starch, it could be used to make paper-mache-like plasters to go under socks and warm shins.