Civil war tokens
Despite their short period of use, millions were made across the Northern States. This act discontinued use of these tokens. No Longer in UseĪfter just under two years, Congress passed the Coinage Act of 1864. These tokens are now valuable collectibles, especially those that are made from rarer materials (most common tokens are made from copper). Lead, copper, brass and even rubber were used to make tokens. These coins were made of metals that were not in demand. The most common tokens were very similar to the penny in size, and they would be printed with the words, “For Public Accommodation,” or “Not a Penny.” People would exchange these tokens for goods and services. To help solve the problem of doing business without currency, merchants released tokens that mimicked small change. Business owners needed the ability to sell goods and services, but without any coins to trade, commerce would have come to a standstill. In order to cap the inflation rate and force the use of already-minted coins, federal production of coins was halted as the Civil War continued to escalate the demand for resources.įewer and fewer coins were being used, and by the end of 1862, hardly anybody would use coins to buy or sell. With no coins in circulation and with inflation rising, any new coins the government minted were quickly snatched up as well. Gold and silver were also not used for trade. If a one-cent coin was suddenly worth the equivalent of five cents, it would be better to save it than to spend it (at least in the short term). Of course, this inflated the value of the money that still remained in active circulation, prompting even more people to begin saving instead of spending. People began to hoard their coins instead of spending them. To protect against this inflation, it became necessary to save aggressively. The increased inflation in metal prices caused an increase in currency inflation. As tensions escalated between the North and South in early 1862, clever investors anticipated that gold, silver and similar metals would become worth much more than their coin value. Hoarding and InflationĪs is common during times of war, precious and semi-precious metals became more and more valuable, and inflation began. Often prized by collectors, these tokens acted as stand-ins for government currency during the Civil War. If you have ever wondered about why Civil War and hard times tokens are traded and collected for such a high value, here is a brief history to help you understand the role of these tokens during American history. Civil War coins and hard times tokens are especially interesting. Similarly, coins from early American centuries also are steeped in amazing history. Ancient coins from Greece and Rome help cast a glimpse into millennia past. Over 10,000 varieties have been recorded.Part of the draw of coin collecting is collecting items that reflect the history of their time. All three types were utilized as currency, and are differentiated by their designs.
![civil war tokens civil war tokens](https://image.invaluable.com/housePhotos/KeyDateCoins/83/658083/H21890-L194759079.jpg)
Civil War tokens are divided into three types-store cards, patriotic tokens, and sutler tokens.
![civil war tokens civil war tokens](http://numismaclub.com/imgs/a/f/z/z/r/old_us_1863_civil_war_token__star_of_david____fantastic_piece_cw6_2_lgw.jpg)
On Jan additional law was passed that forbade all private coinage. Civil War tokens became illegal after the United States Congress passed a law on Approhibiting the issue of any one or two-cent coins, tokens or devices for use as currency. The widespread use of the tokens was a result of the scarcity of government-issued cents during the Civil War. They were used mainly in the Northeast and Midwest. *** Civil War tokens are token coins that were privately minted and distributed in the United States between 18.
![civil war tokens civil war tokens](http://numismaclub.com/imgs/a/k/b/w/w/1863_civil_war_token___f30329_army__navyturban___c_r2_f913_2_lgw.jpg)
This is a Civil War token dated 1863 / patriotic type token / Token #F-1.1įront - 1863 / "The Flag of Our Union" surrounding Flag and Starsīack - "If Anyone Attempts to Tear it Down, Shoot Him on the Spot"