Background

The earliest US tokens were made in the late 1700’s. They resemble coins in that they are round metal pieces. They are not legal tender, but they can have a face value, typically 1 Cent. They were made in various sizes, from the diameter of a modern US cent (19 mm) to a Half Cent (23 mm) and up to a Large Cent (26-29 mm). They’re normally made of copper

Popular Collectible US Tokens

The primary categories for US tokens are:

• Trade Tokens: Mostly created by merchants from 1845 to 1860. They were sometimes called “good fors”
• Hard Times Tokens: Made from 1832 to 1844. They were often used in place of government issued coins, which were scarce
• Civil War Tokens: Made in the 1860’s, mostly between 1861-4. They were also used in place of government issued coins

This presentation focuses on Hard Times Tokens

Hard Times Tokens

Hard Times Tokens are reflective of the time of the Great Depression, which lasted from 1929 to 1939. This period was known as “Hard Times”. These tokens were made between 1832 and 1844 Most of them are Copper, Half Cent or Large Cent size. Many were used as 1 Cent coins.

Example Hard Times Tokens

“I Take Responsibility” mocks President Jackson’s economic policies. There’s a button manufacturer, a General Store, and an anti-credit token (also anti Jackson).

Here are a Book Seller, and an Umbrella Store.

Illustrious Predecessor is a criticism of Jackson’s management of the Treasury.

Merchant Exchange is a response to the French trying to blackmail the US.

Below, Shin Plaster refers to worthless bank currency.

The 1840 Bergen Iron Works Token is somewhat scarce.

Daniel Webster shows support for the constitution on one side and the stormy weather of President Jackson’s treasury.

Mint Drops are hard currency, while ‘Bentonian Currency’ is Paper Money. Financial crises caused the public to rely on Mint Drops and the shunning of paper money.

Conclusions

US Tokens are quite popular collector items. They provide insight into early US history. Thousands of different kinds of tokens were made in the 1800’s. They’re mostly not expensive and are very rewarding to collect.