The land now occupied by the Village of Sherrard was originally purchased in September of 1839 from the United States Government by John Morey for $1.25 per acre. In May of 1854 Thomas and Olive Morey sold this land to David Sherrard for $2200.00. The land consisted of 119.62 acres. On the Second of January, 1894 this land was transferred to the Coal Valley Mining Company for $1.00 and "other valuable considerations."