We are a part of eBay Affiliate Network, and if you make a purchase through the links on our site we earn affiliate commission.
In 1862, with the Civil War raging, coins were withdrawn from circulation in the northern states. Private die sinkers made the most of this coin shortage by making copper tokens for merchants. Some tokens had advertisements on them while others...
Continue reading
In 1862, with the Civil War raging, coins were withdrawn from circulation in the northern states. Private die sinkers made the most of this coin shortage by making copper tokens for merchants. Some tokens had advertisements on them while others bore patriotic symbols or sentiments, but so many were designed to fool people into thinking that the coin they held in their palm was a real U.S. cent that the government banned the private minting of money in 1864. According to Ken Bauer, all those Civil War tokens added up to a lot more than chump change. In 1863, for example, almost 9,000 different designs could be found on the obverse faces of Civil War tokens. One of the most prolific engravers was John Stanton of Cincinnati, whose specialty was an Indian Head token that bore an uncanny resemblance to an actual Indian Head cent. Stanton produced as many as 30 different versions of his Indian Head, each varying ever so slightly. Flying eagle designs were also popular during the Civil War because even though Flying Eagle cents had been replaced by Indian Heads in 1859, there were still many in circulation. For die sinkers and private minters hoping to profit from the scarcity of coins during the Civil War, tokens were a legal gray area they were quick, but careful, to exploit. At the time, counterfeiting laws were specific when it came to gold and silver coinage, but copper was not in the same category. With the copper in a token costing two-tenths of a cent, and merchants willing to pay nine-tenths of a cent for them, Civil War tokens represented a serious business opportunity. Some of the businesses seizing this opportunity were well established, such as Scovill Manufacturing Company of Connecticut, the quality of whose tokens rivaled coins struck at the U.S. Mint. Other wartime profiteers were of the mom-and-pop variety, hand-cutting dies and striking their coins in their basements. Such coins often contained production and spelling errors.

Best of the Web

myArmoury.com
This resource for historic arms and armour collectors provides exhaustive information on modern...
The Civil War
Paul McWhorter’s amazing reference site tells the story of the Civil War through high resolution...
Most Watched

Best of the Web

myArmoury.com
This resource for historic arms and armour collectors provides exhaustive information on modern...
The Civil War
Paul McWhorter’s amazing reference site tells the story of the Civil War through high resolution...