N528

US Medal-Token

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Identifier:

N528- US- Civil War Token

Type:

Token

Dimensions:

Description:

During the Civil War, many citizens were uncertain about the future and began to horde official US coins made from gold and silver. This resulted in a shortage of coinage, to the point where virtually all coins were out of circulation by the end of 1862. This was hard on the economy, as many shops couldn't make change on purchases so people would stop buying things all together. To assist with business transactions, many merchants contracted private coin-makers to create small tokens that could be redeemed for merchandise, services, or currency. These penny-sized coins eventually came to be known as Civil War Tokens and they helped keep the Union's economy on its feet. It is estimated that at least 25 million Civil War tokens were produced, with over 8500 distinct types cataloged, including patriotic themes and iconography that was more specific to the business who created it. The tokens were banned in 1864 and new government-issued cents were minted.
This coin includes the declaration, "The Federal Union, It Must and Shall be Preserved." This phrase was made popular during the 1860 Presidential Election and used as a Union rallying cry during the war. The words were even sung to the tune of "Star Spangled Banner."
Civil War

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