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STOCK& BOND CERTIFICATES HAVE MOVED TO THEIR OWN PAGECHECK OUT THE BOOKS WE HAVEABOUT TOKENS & MEDALS
SCARCEGREENLAND CANTEEN TOKEN
Thisrectangular token was good for a coffee and bread at the canteen at theNarsaruaq (Narssarssuaq) Air Base in Greenland. The base,located in southern Greenland was built in 1941 as Bluie WestOne. It was a major refueling base for planes crossing theNorth Atlantic during World War II and the early cold waryears. Because of frequent bad weather and the base beingvirtually surrounded by mountains mad landing at the base exceedinglydifficult. Taking off over the water also had problems and atugboat was needed to move icebergs out of the way of departingaircraft. After the war the base was jointly operated by the UnitedStates and Denmark. In 1958 the United States discontinuedits operations at the base. Denmark has continuedoperating it as a commercial airport, though with few commercialflights.. After landing at the isolated airport one must takeeither a helicopter or boat to get to nearby settlements. The unifacealuminum token has a center hole and inscriptions printed in greenink It is a scarce token from an isolated community.WWII CANADIAN MEAT RATION TOKEN
Meatwas rationed in Canada during World War II. Families receiveda ration booklet which allowed them to purchase a limited quantity ofrationed goods, including tea, coffee, sugar, butter, booze and meateach week. Each weekly meat ration coupon was good for 2pounds of meat. The problem was that many did not haverefrigeration at home, so they would either forfeit the whole couponfor a lesser amount of meat, or buy their full amount and risk it goingbad before it could be used. In 1945 the Canadian governmentfinally wised up and issued meat ration tokens that were good for alesser quantity of meat. Each token was worth 1/8 of a meat rationcoupon (1/4 pound of meat), so if someone bought less than their fullration of meat the tokens could be given out to be usedlater. If one bought half their weekly ration of meat, theywould receive four tokens for later use. The 22mm blue tokenis struck on a heavy blue cardboard with a center hole. Both sides havethe same design with the words 'CANADA- RATION MEAT - VIANDE' and twomaple leaves. RARE WOODEN MONEYFROM MEXICO
Thiswooden Hacienda token was issued by the Trancoso Hacienda in the 19thcentury. The Trancoso was one of the largest and mostimportanthaciendas in Zacatecas state of Mexico. It was founded with Spanishland grants between 1670 and 1680 as a cattle ranch. Itcoveredover 55 square miles (145 sq.km.). In the 19th century itbecameone of the largest wool exporters in Latin America. Like many haciendasof that era it a was engaged in wide range enterprises includinggrowing grain, animal husbandry, a distillery and a church. Itfell on hard times after the 1910-1920 Mexican Revolution, resulting inviolent conflicts between the owners and peasants. Eventually the landwas expropriated and much of it given to families who lived on theHacienda. Today the municipality of Trancoso oversees whatwasthe hacienda. The church and the grand buildingsthat werepart of the hacienda still stand, though many have been vandalized inrecent years. Most hacienda tokens are metal. This unusualpiecewas made of Mesquite wood. It is about 26 to 28mm. One sideisbranded with Trancoso Hacienda's brand, the other side is blank.As wascommon for Hacienda tokens, it was denominated for a unit of work. Thiswas for sheering one sheep. Like many hacienda tokens, itcirculated as money in the area. It is an unusual andhistoricpiece of money. We also have a few much scarcer,slightly larger(28-30mm) tokens that are branded with a crude '5' on the back whichwere given for sheering five sheep.ADMIRAL GRAUMONUMENT TOKEN FROMPERU
AdmiralMiguel Grau is one of Peru's most honored heroes. As captainof the Huáscar, during the War of The Pacific between Peru and Boliviaagainst Chile repeatedly attacked the vastly superior Chilean navy. Heseverely disrupted the Chilean lines of supply and communication,capturing or damaging a number of Chilean vessels. He was called the'Gentleman of the Seas' for his chivalrous treatment of hisenemies. He was killed in action and his ship captured in theBattle of Angamos on October 1879. In 1934 Peru decided tobuild monuments to Grau in Lima and Piura, the city where he wasborn. This copper 20 Centavos token was struck to help raisefunds to build the monuments. The 20mm token features the arms of Peruand the legend 'FONDOSPRO MONUMENTOS GRAU' (Money for Grau Monument). The otherside features the denomination and the date October 8, 1935. Also see:
ADMIRAL GRAU ON PERUVIAN COINS: 6COIN SET 5 CENTIMOS - 5 INTIS1985-88
PERUVIAN SILVERMEDAL CLAIMS PART OF CHILE!
Peruviandictator Augusto Bernardino Leguia issued this silver medalette as partof Peru’s Fiestas Patrias Great Military Parade Day in 1925. Themedalette calls for the return of El Morro Arica, which Peru lostto Chile, along with the surrounding territory, 45 years earlier in theWar of thePacific.Since then the two nations had numerousunfruitful negotiations over the status of the territories. Recovery ofthe lost territory had long been a rallying point forPeruvian politicians. The obverse depicts the coastalmountain El Morro Arica. It is the most recognizable landmark in thearea. Above it is the legend “RECUPERAR EL MORRO” (Recover El Morro)and “A.B.LEGUIA”. . In exergueis the date of the event:“29 JULIO 1925” The reverse has thelegend “JUNTA PATRIOTICA NACIONAL”. In 1929 the two nationsfinally came to a formal agreement, El Morro and Arica provinceremained part of Chile. The 22.8mm silver medalweighs 5.5 grams and was made with a small hole at the top in order tosuspend it from a hanger or ribbon. The medalette isUncirculated, though may show some slight friction or bagmarks. It is an unusual and rarely seen piece.MYSTERIOUSOLD EGYPTIAN CAFE TOKENFROM ALEXANDERIA
Thismysterious, old cafe token was issued by G. Petros for the CaféEspérance in Alexanderia, Egypt, probably sometime between World War Iand World War II. At the time Alexandria was a majorcosmopolitan center, attracting traders, businessmen, and spies fromthroughout Europe, Africa and the Middle East. The brass token has ascalloped edge and is denominated as '1', but no-one is quitesure what the '1' signifies.. It could be one cup of coffeeortea. If issued during the 1920’s might be 1 Millieme, whichwould have been useful to make change for small purchases. Onthe other hand it is similar in size and shape to the 1 Piastre (10Milliemes) coins of the 1930’s. Either way, it is a scarceand interesting token from an intriguing location.MALACCA FIGHTING COCKTOKEN
Theorigins of the cock or rooster token is a bit obscure. The copper 1 Keping tokens were minted in England for merchants in Singapore foruse inMalacca and other parts of Malaya. The Standard Catalog ofWorld Coins lists them under Malay Peninsula - Malacca, though otherreferences sometimes catalog them under Singapore. Theobverse of the 21mm copper token features a fighting cock and thelegend 'the land of the Malays' in Malaysian. The reverse hasthe denomination and the AH date 1247 which corresponds to1831AD. The tokens circulated widely around Singapore andMalaya until the introduction of Straits Settlements coinage in1845.BREADTOKEN FROM DOWN UNDER
Thisaluminum token was good for “One Loaf” of bread at 'A.Roderick’sPioneer Bakery' in Pelaw Main, New South Wales, Australia. Thetoken was apparently used around the late 1920’s to early1930’s. At that time a 4 pound loaf of bread (about 2kg. – they had big loavesback then) sold for 4 to 5 pence. Pelaw Main is a villagethatowes its origins to a nearby coal mine with the same name. The 27mmaluminum token was made with a center hole. AMSTERDAM 700thANNIVERSARY FLORIN
This1 Florin token was issued in 1975 as part of Amsterdam's 700thAnniversary celebration. . Amsterdam started as a fishingvillage around a dam in the Amstel river at the end of the 12thcentury. One side of the 22mm copper-nickel token featuresthe city's coat-of-arms. The other has the legends '1275 1975// MOKUM // 700 // FLORIJN' and the three crosses fromcity's arms.Mokum is a slang name for Amsterdam. TEASTALL TOKENFROM INDIA
Oneside of this unusual oblong 27.5mm x 17mm copper token has thelegends 'TEA STALL *H.M. * LTD. INDORE', the other side depicts thenumber '4'on a teacup. The token is attributed as a 4 Anna token issuedby Hukumchand Mills in Indore, India. The token was probablyused in the company canteen sometime between the 1930’s and1950’s. Hukumchand Mills was a large cotton mill that wentbankrupt and closed down in 1991, owing wages and benefits to some 6000workers. Since then the mill has been torn down. Attemptshave been made to sell the land to provide funds to pay the workers,however disputes between various government agencies has prevented thesale of the land. After 25 years, the workers have still notbeen paid and the case drags on in court.400thANNIVERSARY OF BERMUDA’S HOGGE MONEY
Tohonor the 400th anniversary of Bermuda’s Hogge Money, numismatist MelWacks produced this counterstamped 2016 United States Kennedy HalfDollar depicting a Hogge 6 Pence. Hogge Money was the firstcoinage for any English-speaking region in the New World and is thefirst coin listed in the standard reference known as the 'RedBook'. Hogge Money coins were made in London for use in thenewly established Plantation of Somer Islands, now known asBermuda. The crudely made 2, 3, 6, and 12-pence coins wereissued in 1616. The coins all depict a wild hog which was found inabundance on the island. The pigs may haveoriginally escaped from the shipwreck of Juan de Bermudez in1532. Only 200 counterstamped coins were produced. Though they are almost as scarce as theoriginal Hogge Money, they are a lot more affordable. Thecounterstamped coin comes with a gift pouch and a descriptiveCertificate of Authenticity. Also available is a Bermuda centwhich depicts the famous hog design on the reverse, and Queen Elizabethon the obverse.OLDINDIAN TRADER TOKENS FROM MICHIGAN
INDIANON OAKLAND COUNTY MICHIGAN MEDAL
AnIndian is featured on this attractive high relief bronze medal fromOakland County, Michigan. The county is located northwest ofDetroit. The medal was issued in 1970 to commemorate the150th anniversary of the founding of the county. The reversedepicts the county seal which features an oak tree. The 39 mm medal has an 'antiqued' finish. MULLIGAN MINT -AOCS 1 TROY OUNCECOPPER ROUNDS
The American Open Currency Standard (AOCS) and the closelyrelated Mulligan Mint of Texas were libertarian oriented firms thatencouraged alternative local monetary systems based on gold, silver andcopper. The creators of the AOCS decided to open their ownmint,called the Mulligan Mint. It opened in 2012 and declared bankruptcy andclosed in 2013 after a nasty dispute between two founders, themysterious disappearance 71,473 ounces of silver and multiplelawsuits. We have a selection of different of 1 avoirdupoisouncecopper American Open Currency Standard medallions which were producedby AOCS or Mulligan Mint during its short-lived existence. Theywere valued at '2 Units' each by AOCS standards, which was equivalentto 1 ounce of pure copper. They are an interestingreminderof a failed alternative hard currency systems. ELONGATED CENTS
Elongatedcents, or rolled cents, are a popular and inexpensivecollectible. Machines allowing visitors to make their ownsouvenir 'stretched pennies' are available at many tourist sites. Werecently acquired a hoard of elongated cents. Most wereissued for various coin shows. Every lot is different,however there is much duplication between lots.NATIONALSECURITY AGENCY CHALLENGE COIN
TheNational Security Agency is a top secret organization in the UnitedStates government which gathers, processes and analyzes communicationsaround the world. Recently they have been scrutinized formonitoring personal communications far beyond the scope of what mostAmericans were led to believe. This 40mm, multi-color,National Security Agency Challenge Coin features the organizationsemblem in color on one side, and the Great Seal of the United States onthe other. Challenge Coins are widelyused in the United States military and other government agencies andorganizations. The medals usually bear the organizationsinsignia and are carried by members of the organization or presented inrecognition of special achievements or visits by dignitaries. So, where did we manage to obtain challenge coins from this clandestinespy agency? From China, of course.ARMYAND AIR FORCEEXCHANGE (AAFES) POG 'COINS'
The Army and Air Force Exchange Services, commonly known as AAFES orjust the Exchange, provides goods, services and fast food to members ofthe United States armed forces and their families throughout the world. Prices are often lower than those found in nearby communitiesand most of the profits go to support the military's Morale, Welfareand Recreation programs. Because of the cost and difficultyin supplying coins to bases in Iraq, Afghanistan, and theMiddle East the AAFES produced these POG coins. They areissued in the denominations of 5 cents, 10 cents and 25 cents and areprinted on thin colorful 40mm plastic discs. To avoid legaldifficulties against issuing currency, the POGs are labeled as 'GiftCertificates'. The obverse has the denomination and the words 'AAFESGIFT CERTIFICATE'. The POGS are issued inseries, with adozen or more reverse designs issued for each denomination for eachseries. Since about 2003 each series has beendated. Though they are only issued at forwardbases, they may be redeemed at any AAFES facility. The POGS are listedin the Standard Catalogof World Paper Money, Specialized Issues. They areafascinating but little known military currency collectible.BRITISHNAAFI POG SETS
NAAFI2010 POGS: 5, 10 & 25 Cents
NAAFI2011 POGS: 5, 10 & 25 Cents (same design on 2012 & 2013issues)
DOLLARCASINO SLOTMACHINE TOKENS
With the disappearance of the silver dollar in the 1960’s, casinosissued their own dollar tokens for use in slot machines. Nowthat most casinos have switched to using tickets or cards the tokensare difficult to find. These sets contains alldifferent 1 Dollar slot machine tokens. Most are from Nevada.HISTORIC CALIFORNIABICENTENNIAL MEDAL
SanJose’s La Fiesta de Las Rosas celebration began in1896. Itwas originally modeled after Pasadena’s Rose Parade as a way to bringtourists into town. It developed into a week long festivalthat celebrated San Jose as a 'garden city', the areas rich agricultureand the community’s Spanish heritage. San Jose was founded in1777 as the first Spanish civil settlement in what is nowCalifornia. Over the years, the celebration had its ups anddowns. In 1901 President William McKinley attended thefestivities. In the 1920’s and 1930’s the festival hadnationwide fame and brought thousands of visitors into SanJose. In 1969 an attempt was made to revive the once popularfestival. Preparations were made and a commemorative medalwas struck for the upcoming event. Mexican-Americans in thecommunity objected to the festival, claiming that the festival ignoredthe city’s Mexican heritage, honored the conquistadores who enslavedthe natives of Mexico, and thought the money could be better used forimproving the community. A riot broke out which left dozensinjured and 23 arrested. (Remember this was the late 1960’s - protestsand riots were regular events.) The festival was permanentlycanceled, though since then there have been occasional efforts to bringback a similar event under a different name.
The 32mm oxidized bronze medal commemorates a number of events looselyconnected to the Fiesta de Las Rosas. One side depicts a mapof California featuring San Jose, with the legend 'SAN JOSE FIRST STATE CAPITAL /SANTA CLARA COUNTY' around the rim. To the rightof the map is the legend 'THISCOIN / CONTAINS / COPPER LEFT BY / EARLY SPANISH / EXPEDITION, / FOUNDON / OLD MISSION / GROUNDS, / SANTA CLARA. ' Theother side commemorates the 200th Anniversary of the first Europeanland exploration of California by Gaspar de Portolá and Father JuniperoSerra. Portolá is depicted on a horse, with Father Serrawalking behind him. Below them is the legend 'PORTOLA EXPEDITION'and the dates 1769and 1969separated by a rose. The legend 'CALIFORNIABICENTENNIAL / LAFIESTA DE LAS ROSAS' is around therim. Thus it is a medal containing copper from theearly Spanish expedition that commemorates the 1969 Fiesta De LasRosas, the Portolá Expedition, California Bicentennial and San Jose asthe California’s first state capital.
1939 GOLDEN GATEINTERNATIONAL EXPOSITION UNION PACIFIC RAILROAD MEDAL
The1939 Golden Gate International Exposition was a World's Fair heldon Treasure Island in San FranciscoBay. One side of this 32mm aluminum medalfeatures the official seal of the Exposition, which incorporates thenewly constructed San Francisco - Oakland Bay Bridge and the 400 foot'Tower of the Sun'. The other side of the medalfeatures both a steam and diesel-electric locomotive engine and thelogo of the Union Pacific Railroad. The legendaround the rim reads 'ROADOF THE STREAMLINERS AND THECHALLENGERS' 'UNIONPACIFIC'. Below theUnion Pacific Shield is the legend 'ALUMINUMIN THESE / FAMOUS TRAINS /FURNISHED BY / ALUMINUM COMPANY OFAMERICA'. The Streamlinerwas astreamlined light-weight diesel-electric passenger locomotive that wasintroduced in 1934. The Challenger was a hugearticulated 4-6-6-4 steam locomotive that was introduced in1936. It was nearly 122 feet (37 meters) long and weighedmore than a million pounds (450,000 kg.). This medal has longbeen popular with train buffs, world's fair collectors. as well asnumismatists. It is in Uncirculated condition. I have seenthisoffered elsewhere for as much as $45 each. Our price is MUCHless for this popular and attractive medal.END OF A MIRACLEIN TITUSVILLE FLORIDA
TheMiracle City Mall was a large (275,000 square feet - 25,500 m2) indoorshopping mall in Titusville, Florida. Built in 1969, it wasthe closest shopping mall to the Kennedy Space Center. Itthrived for years; however with the recession, the end of the SpaceShuttle program and changes in shopping habits, the aging mall lost itstenants and was closed in January 2013. It soon became anempty eyesore. In 2015 the Mall was demolished andconstruction of new shopping center, named Titus Landing, was begun onthe site. A 39mm aluminum medal was issued to commemorate thetransition. One side depicts the old Miracle City Mall sign,and the dates 1969-2015. The other features the logo of thenew Titus Landing center. Both sides bear the name of thecity, Titusville Florida.ELONGATEDTOKENS CELEBRATEOUR 40th ANNIVERSARY IN THE COIN BUSINESS
2010 marked our 40thanniversary of selling coins by mail (Internet did notexist way back then). To celebrate the event we created twoelongated (rolled) coins utilizing some of the tokenswe had struck for our 25th anniversary inthe coin business. One rolled token is good for $4.00 in tradeand was created from our good for $2.50 in trade token. Theother is a Good for $1.40 in trade, rolled from our good for50c in trade token. Both tokens feature our cash coin logo, and our addressand '40THANNIVERSARY 1970-2010'. The tokens were created by Oded Paz,utilizing a special process that kept much of the relief of theunderlying design on the reverse, so our cash coin logo and oldMerced mailing address is plainly visible on the reverse.Approximately 200 of each type were minted. We offer the tokensat their face value. They may be redeemed at any time formerchandise from our website, catalogs or at our table at coinshows that we attend.OUR OWN MONEY
Tocelebrate our 25thanniversary in the coin business, in 1995 we struck twotokens, a brass 'GoodFor$2.50 in Trade' and a bronze-plated zinc 'Good for 50c in Trade'.Each hada mintage of 3000 pieces. We used these as gift certificates,for small refunds and in promotions for our mail catalogs.Because these show our old Merced address we no longer issuethem, however you may still purchase or redeem them at facevalue.WECELEBRATE OUR 25thWEDDING ANNIVERSARY
We issued commemorative medals tocelebrate our25th Wedding anniversary in July. One side shows a pair ofwedding bells, while the other bears the legend 'JOEL& LILA ANDERSON 25th ANNIVERSARY 2004 / THE BEARER OFTHIS TOKEN RECEIVES MUCH HAPPINESS'. The 27mm tokens werestruck by ThePatrick Mint in both silver plated zinc andcopper plated zinc. Only 500 of each were struck.GOLDDOUBLOON FROM OCEANO,CALIFORNIA
Oneside ofthisbrass-plated zinc token has the obverse of the famed 1787Brasher gold Doubloon, the first gold coin struck in theUnited States. The other side advertises the 'Birds of a Feather VacationHome, Just32 Steps from the Beach in Oceano, CA'. The tokenpictures two birds and provides the web address for theproperty: www.OceanoVacationHome.comand a phone number for booking information. The vacation homeis available by the night or by the week. Two Thousand of the27mm tokens were struck by The PatrickMint. The token is a lot cheaper than the originalBrasher Doubloons, which go for well over $1 Million, and itis one of the few tokens ever to come from the small beachcommunity of Oceano, California.'CALIFORNIAGOLD' TOKEN FROM OCEANO, CALIFORNIA
Oneside of this brass-plated zinc token features the obverse of the famedCalifornia Gold Rush 'Cowboy' 10 Dollar gold piece struck by Baldwinand Company in San Francisco in 1850. The other side advertises the 'Birds of a Feather VacationHome, Just32 Steps from the Beach in Oceano, CA'. The tokenpictures two birds and provides the web address for theproperty: www.OceanoVacationHome.comand a phone number for booking information. The token can be redeemedfor $10 towards a booking at the beach house (limit one perbooking). The vacation homeis available by the night or by the week. One Thousand of the27mm tokens were struck by The PatrickMint. It is one of the few tokens from the smallbeach community of Oceano, California.Forthe previous issue from this establishment see the Gold Doubloon fromOceano, California.
'PIECE-OF-EIGHT' FROMPISMO BEACH,CALIFORNIA
Oneside of the silver-plated store-card token features the design of a1743 Pillars Piece-of-Eight. The 27mm token isabout the size of a 2 Reales rather than an 8Reales. The other advertises the 'SHELL-EBRATIONBEACH HOUSE, PISMO STATE BEACH', along with itsweb address: Shell-ebration.com, telephonenumber and major features of the Beach House. The vacationhomeis available by the night or by the week. One Thousand of the tokenswere struck by The PatrickMint. It is an interesting token from this popularCalifornia beach community.WEST VIRGINIA COALMINE TOKENS
These tokens, also known as Scrip, Dingles,Clackers andmany other names, were issued by coal companies as an advanceon wages when miners needed to buy mining supplies for theirwork, food or necessities for their home, pay rent on thecompany owned home, obtain medical care or almost any otheraspect of life in a company town. Of course, they could only beused at company stores, where prices tended to be high. Thevalue of the scrip would then be deducted from a miner's pay onpayday. Miners could easily “owe their soul to the companystore”. Metal tokens were widely used from the 1920’s to the1950’s. During World War II fiber scrip was introduced in orderto save metal, which was needed for the war effort. Mosttokens had the name of the mine or store onit, and were often punched with the mine number or initials ofthe town. We have a historic collection of 10 different WestVirginia (and maybe nearby states as well) coal scrip tokens, rangingin value from 1 cent to 1Dollar. Thetokens grade from Very Good to Uncirculated. It is aninteresting and historic set.BERMANIA TICKLETOKEN
Bermaniais a fantasy kingdom created by coin dealer Allen G. Berman. Its latestnumismatic item is the Tickle Token. It is modeled after themedieval English Touch Pieces. In the 17th Century English Kings wouldbless sufferers of scrofula by touching them with coins. Thetouch coins were modeled after the gold Angel: one side featured theArchangel Michael and a ship was on the other. Each piece waspersonally bestowed by the monarch. Word of this got aroundto Bermania, where it was believed that a tickle by the king would cureglumness. These tokens were sold those seeking admission tothe Royal Tickle Ceremony of King Placebus I of Bermania. Oneside pictures an angel tickling a dragon with a giant feather. Theother depicts the Bermanian Pirate ship Soggy Bear. The27mmcopper token is Brilliant Uncirculated. Even if you don’t gettickled, it is good for a laugh.LATVIANLOTTERY TICKETS
When we buy collections and dealers stock, wesometimes end up with some strange material. Somehow we endedup with hundreds of used (and I assume losing) lottery ticketsfrom Latvia, dating from the late 1950's and early 1990's. Atthis time Latvia was under control of the USSR. What I cannotunderstand is why a communist country in which everyone issupposed to be equal would have a lottery, which promotesinequality by producing a few rich winners at the expense ofmany losers. Anyway, the tickets are fun, colorful, and makeboth an interesting and inexpensive collection and an unusualgift for any avid lottery player.Japanese Slot Tokens
MISSOURIOZARKSTRAWBERRY PICKERSCHITS
These cardboard tokens were used to pay strawberrypickers in the Missouri Ozarks from the early 1900’s untilabout 1940. The chits are usually denominated in quantities ofberries and show the issuing company. Workers received thechits as the berries were picked, and could redeem them laterfor pay. Because cardboard does not last long, few of thesechits survived. Recently we purchased part of a hoard of thesescarce and interesting pieces of history.Also See:
BI-METALLICBOOTLEGGER DOLLAR FROM ALCATRAZ
MAUITRADE DOLLARS
LEPER COLONY COINS FROMCOLOMBIA
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In numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of token coins is part of exonumia and token coins are token money. Tokens have a denomination either shown or implied by size, color or shape. 'Tokens' are often made of cheaper metals: copper, pewter, aluminium, brass and tin were commonly used, while bakelite, leather, porcelain, and other less durable materials are also known.[citation needed]
A key point of difference between a token coin and a legal tender coin is that the latter is issued by a governmental authority and is freely exchangeable for goods. However, a token coin typically has a much more limited use and is often issued by a private company, group, association or individual. In the case of 'currency tokens' issued by a company but also recognized by the state there is a convergence between tokens and currency.[citation needed]
Currency tokens[edit]
Currency tokens issued by a company sometimes ceased to be merely 'trade' tokens when they were sanctioned by a local government authority: perhaps due to a severe shortage of money or the government's inability to issue its own coinage. In effect, the organization behind the tokens became the regional bank.
A classic example of this is the Strachan and Co trade tokens of East Griqualand in South Africa, which were used as currency by the indigenous people in the region from 1874. Their initial success resulted from the scarcity of small change in that remote region at that time.
Similarly, in times of high inflation, tokens have sometimes taken on a currency role. Examples of this are Italian and Israeli telephone tokens, which were always good for the same service (i.e. one phone call) even as prices increased. New York City Subway tokens were also sometimes accepted in trade, or even in parking meters, since they had a set value.
Trade tokens or barter tokens[edit]
Coin-like objects from the Roman Empire called spintriae have been interpreted as an early form of token. Their functions are not documented, but they appear to have been brothel tokens or possibly gaming tokens.[1]
Medieval English monasteries issued tokens to pay for services from outsiders. These tokens circulated in nearby villages, where they were called 'Abbot's money'. Also, counters called jetons were used as small change without official blessing.[2]
From the 17th to the early 19th century in the British Isles and North America, tokens were commonly issued by merchants in times of acute shortage of coins of the state. These tokens were in effect a pledge redeemable in goods, but not necessarily for currency. These tokens never received official sanction from government but were accepted and circulated quite widely.
In England, the production of copper farthings was permitted by royal licence in the first few decades of the 17th century, but production ceased during the English Civil War and a great shortage of small change resulted. This shortage was felt more keenly because of the rapid growth of trade in the towns and cities, and this in turn prompted both local authorities and merchants to issue tokens.
These tokens were most commonly made of copper or brass, but pewter, lead and occasionally leather tokens are also found. Most were not given a specific denomination and were intended to substitute for farthings, but there are also a large number of halfpenny and sometimes penny tokens. Halfpenny and penny tokens usually, but not always, bear the denomination on their face.
Most such tokens show the issuer's full name or initials. Where initials were shown, it was common practice to show three initials: the first names of husband and wife and their surname. Tokens would also normally indicate the merchant establishment, either by name or by picture. Most were round, but they are also found in square, heart or octagonal shapes.
Thousands of towns and merchants issued these tokens from 1648 until 1672, when official production of farthings resumed, and private production was suppressed.
There were again coin shortages in the late 18th century, when the British Royal Mint almost ceased production. Merchants once again produced tokens, but they were now machine made and typically larger than their 17th century predecessors, with values of a halfpenny or more. While many were used in trade, they were also produced for advertising and political purposes, and some series were produced for the primary purpose of sale to collectors. These tokens are usually known as Conder tokens, after the writer of the first reference book on them.
These were issued by merchants in payment for goods with the agreement that they would be redeemed in goods to an equivalent value at the merchants' own outlets. The transaction is therefore one of barter, with the tokens playing a role of convenience, allowing the seller to receive his goods at a rate and time convenient to himself, and the merchant to tie the holder of the token coin to his shop. Trade tokens often gradually changed into barter tokens, as evidenced by the continued circulation of former trade tokens when the need for their use had passed.
In the United States of America, Hard times tokens issued from 1832 to 1844 and Civil War tokens issued in the 1860s made up for shortages of official money.[3]
Because of weight, the U.S. Treasury Department does not ship coins to the Armed Forces serving overseas, so Army and Air Force Exchange Service officials chose to make pogs in denominations of 5, 10, and 25 cents. The pogs are about 38 mm (1.5816' to be exact) in diameter, and feature various military-themed graphics.
The collecting of trade tokens is part of the field of exonumia, and includes other types of tokens, including transit tokens, encased cents, and many others. In a narrow sense, trade tokens are 'good for' tokens, issued by merchants. Generally, they have a merchant's name or initials, sometimes a town and state, and a value legend (such as 'good for 5¢' or other denomination) somewhere on the token. Merchants that issued tokens included general stores, grocers, department stores, dairies, meat markets, drug stores, saloons, bars, taverns, barbers, coal mines, lumber mills and many other businesses. The era of 1870 through 1920 marked the highest use of 'trade tokens' in the United States, spurred by the proliferation of small stores in rural areas. There were thousands of small general and merchandise stores all over the United States, and many of them used trade tokens to promote trade and extend credit to customers. Aluminum tokens almost always date after 1890, when low-cost production began.
Slot machine tokens[edit]
Metal token coins are used in lieu of cash in some coin-operated arcade games and casinoslot machines.
Money is exchanged for the token coins or chips in a casino at the casino cage, at the gaming tables, or at a slot machine and at a cashier station for slot token coins. The tokens are interchangeable with money at the casino. They generally have no value outside of the casino.
After the increase in the value of silver stopped the circulation of silver coins around 1964, casinos rushed to find a substitute, as most slot machines at that time used that particular coin. The Nevada State Gaming Control Board consulted with the U.S. Treasury, and casinos were soon allowed to start using their own tokens to operate their slot machines. The Franklin Mint was the main minter of casino tokens at that time.
In 1971, many casinos adopted the Eisenhower Dollar for use in machines and on tables. When the dollar was replaced with the Susan B. Anthony dollar in 1979, most casinos reinstituted tokens, fearing confusion with quarters and not wishing to extensively retool their slot machines. Those casinos which still use tokens in slot machines still use Eisenhower-sized ones.
In many jurisdictions, casinos are not permitted to use currency in slot machines, necessitating tokens for smaller denominations.
Tokens are being phased out by many casinos in favor of coinless machines which accept banknotes and print receipts for payout. (These receipts - often nicknamed 'TITOs' for Ticket-in, ticket-out, can also be inserted into the machines.) In video arcades, they are also being phased out in favor of magnetic cards, which can also count how many tickets one has, allowing arcades to also do away with paper tickets.
Staff tokens[edit]
Staff tokens were issued to staff of businesses in lieu of coins. In the 19th century the argument supporting payment to staff was the shortage of coin in circulation, but in reality employees were forced to spend their wages in the company's stores at highly inflated prices—resulting in an effective dramatic lowering of their actual salary and disposable income.[citation needed]
Other uses[edit]
No Slot With A Token Was Found Guilty
Railways and public transport agencies used fare tokens for years, to sell rides in advance at a discount, or to allow patrons to use turnstiles geared only to take tokens (as opposed to coins, currency, or fare cards).
- Car washes – Though their use has decreased in favor of coins and credit cards.
- Public telephone booths in countries with unstable currency were usually configured to accept tokens sold by the telephone company for variable prices. This system was in effect in Brazil until 1997 when magnetic cards were introduced. The practice was also recently discontinued in Israel, leading to a trend of wearing the devalued tokens as necklaces.
- Fast foodrestaurants – Often given to children to collect and redeem for prizes.
- Commemorative coins have been produced with no monetary value to distribute by a company, country or organization.
In North America tokens were originally issued by merchants from the 18th century in regions where national or local colonial governments did not issue enough small denomination coins for circulation. They were later used to create a monopoly; to pay labor; for discounts (pay in advance, get something free or discounted); or for a multitude of other reasons. In the United States, a well-known type is the wooden nickel, a five-cent piece distributed by cities to raise money for their anniversaries in the 1940s to 1960s.
Japanese Slot Machine Tokens
Local stores, saloons and mercantiles would issue their own tokens as well, usable only in their own shops. Railways and public transport agencies have used fare tokens for years to sell rides in advance at a discount. Many transport organizations still offer their own tokens for bus and subway services, toll bridges, tunnels, and highways, although the use of computer-readable tickets has replaced these in most areas.
Churches used to give tokens to members passing a religious test prior to the day of communion, then required the token for entry. While mostly Scottish Protestant, some U.S. churches used communion tokens. Generally, these were pewter, often cast by the minister in church-owned molds. Replicas of these tokens have been made available for sale at some churches recently.[when?]
See also[edit]
References and sources[edit]
- References
- ^Thomas A. McGinn, The Economy of Prostitution in the Roman World (University of Michigan Press, 2004), p. 86.
- ^British Tokens And Their Values, Peter Seaby et al, page 7 of the second edition.
- ^A Guide Book of United States Coins, R. S. Yeoman and Kenneth Bresset, pages 372 and 376 of the 61st edition
- Sources
- 'Church Tokens', New York Times, 11 April 1993
Further reading[edit]
- Angus, Ian. Coins & Money Tokens. London: Ward Lock, 1973. ISBN0-7063-1811-0
External links[edit]
- The Conder Tokens Enthusiast - resources regarding 18th Century English Provincial token coinage
- National Museum of Australia 1865 Australian cuprous halfpenny trading token.