When visiting Homer, Alaska, tourists often drive out to the Spit-an approximately 4.5 mile piece of land jutting out into Kachemak Bay-to stop at the Salty Dawg Saloon.

Once they arrive, some visitors order the saloon's signature cocktail made with grapefruit juice and gin or vodka served in a glass whose rim has been garnished with salt. Others add a dollar to the thousands tacked onto the walls and ceilings. In July 2021, the interior was furry with bills; almost every available space on the walls and ceilings was decorated with currency.

Legend claims that the tradition started when a patr...