Definición

• Token.  A substitute for a coin, of permanent composition usually struck, with a denomination – or some indication of value – near the size and form of a coin.  Tokens have no government sanction (they would be coins if they did) but circulate without the approval or disapproval of a national authority.  They exist for a limited purpose and circulate only in a limited locale as somewhat of a private medium of exchange or commercial purpose.
  Tokens are most often struck on coining presses; their composition is usually base metal, their design is usually simple, with a few in unusual shape other than round, and some are pierced (openwork) for distinction. Often tokens are used as a sales promotion, being distributed to prospective customers to be redeemed at the sponsor's place of business: good for a loaf of bread at a merchant's store, or a drink at a saloon. Others are used as transportation or admittance, as passes, still others as tags, checks, counters or altered coins. In all, the utility of tokens is quite widespread.
  As manufactured objects tokens are close to coins and medals. But unlike medals
  (which bear no denomination or value) tokens are noted for their bearing a value and low cost of manufacture. They are struck on coining presses and have no finish. While early tokens were struck in the same composition as coins, more recent tokens are made of the least costly composition and the least costly striking. Other than making a token distinct from all others, a second consideration of design is security, to prevent counterfeiting (as for transportation tokens). The rise of the vending machine industry has also affected the technology of the turnstile and the farebox; it has created high-tech methods of detecting genuine tokens versus slugs, foreign coins and all other tokens.
  To the economist the term token has a different meaning in reference to coins. Economists define coins only as those made of precious metal to make them valuable; coins not struck in precious metal are token coinage (like paper money being promissory notes).
  History of tokens.  Tokens were first created only after private mints came into existence. The concept of a private medium of exchange just did not exist with only national mints producing coins. Thus when Matthew Boulton established his Soho Mint in 1790 not only did he provide custom minting of national coins (to nations without a mint), but also to organizations, municipalities, merchants, even individuals. The first tokens issued from the first private mints, all near Birmingham England, were pieces struck for the merchants of Britain.
  The need for some tokens also came about when certain economic situations occur, as a shortage of national coins, a temporary issue when a locale is under siege. Or as a substitute for coins or currency – as gambling chips – or for use in turnstile or farebox. Thus tokens serve as a substitute for money, or when coins are not suitable,
  or not available, or when a correct size, composition or denomination was not available, or for other reasons. Tokens were created to fill small voids in circulating medium.
  Then tokens became commercial. Merchants learned that the tokens that circulated for a money substitute could also be a form of advertising as well. They placed their name, address, a word or two about their business, and sometimes an illustration of their product. These struck pieces – without a denomination – sometimes circulated for low-value coins. More often they were given out to promote the business. In a word these were storecards, also called, simply, cards, in numismatics. Like a business card or calling card, these struck items were metallic tokens, or "metallic cards" as some makers called them.
  Token manufacturers.  While token making originated in England, it spread to America when coining presses became available privately. Small diesinking firms, not private mints, of one or two men blossomed in mid 19th century. Spurred by a shortage of cents before and during the American Civil War, these small firms prospered churning out tokens of little more than letter-punched designs in small-cent size.
  Presses first used were screw  press type and these were employed until softer alloys became popular, as aluminum after 1890, when even a drop-hammer press had enough strength to stamp tokens. Later in the 19th century knuckle-joint presses – designed for striking coins – were employed for token manufacture.
  Token designs were most often simple, easy for any tool and diemaker to sink an outline of a product and add wording with letter punches. Even local shops specializing in rubber stamp manufacture could, and did, create dies and struck local tokens.
  Token classification.  History professor and numismatic writer Philip Grierson once divided all tokens into three classes:  monetary, semi-monetary and nonmonetary. While this division may satisfy the historian – the numismatist, collector, or curator wants a more finite classification.
  Such monetary substitutes (bearing a denomination) and semi-monetary (good for an item in trade) are indeed tokens. Those items that bear no denomination or indication of value – but made like a token! – are token-medals.
  Tokens that are actually medals.  A large body of numismatic items that are called tokens are actually medals. This includes all American campaign and political tokens, most Hard Time tokens, and some storecards. These pieces are called tokens for several reasons despite the fact they bare no denomination. As mentioned before some circulated for cents when these coins were in short supply in American history.
  These token-medals resembled small coins of the day. This was the intent of the makers and those who distributed them. Often struck on primitive presses in small diesinking shops, their capacity was limited. They had to create their own dies, make their own blanks and strike the pieces, thus were limited to small coin-like pieces.
  MAT code.  The mat code was created to classify both tokens and medals in one classification system. This system clarifies any confusion of token and medal status that may exist and includes all items of any period, any country and any kind (MAT stands for medals and tokens).
   
  Token fakes.  Coins are counterfeited to fool the public or merchants. Tokens are counterfeited to fool the turnstile – if intended to be used – or collectors if they are   seeking a scarce variety for their collection. A large number of token counterfeits exist. Virtually every kind of token has been counterfeited and the number has not diminished as the number of coin counterfeits has diminished (due to increased technology). This is true, particularly, because of the fact of the ease of manufacturing a token in contrast, perhaps, to a coin or medal.
  The token counterfeiter does not need to have sophisticated equipment to reproduce a token as is required to strike a coin. Thus candidates of token fakes are those in which, perhaps little is known, but would be popular or of value to a collector.
  Counterfeit tokens exist of popular Coca-Cola items, Ku Klux Klan issues, brothel tokens, sutler tokens, Wells Fargo items, early merchant tokens, territory tokens and such. The counterfeiter needs to have an outlet for these false items and usually chooses flea markets where sales to less informed buyers or shady dealers are opportunistic, rather than to an informed or experienced collector or dealer.
  Also, there is little control of old token dies (like there is tight control of dies at national or private mints). Dies in the hands of opportunists lead to the creation of restrikes. In the token field this has occurred for the dies of the Los Angeles Rubber Stamp Company, S.H. Quint Company of Philadelphia, and others.
  Token fantasies.  While not counterfeit of anything that once existed, token
  fantasies are the creations of highly imaginative people, who have had tokens struck of
  such things, again, as brothel tokens, transportation tokens, Wells Fargo items, any subject in which exists a demand, or would be popular with uninformed collectors. Fantasy tokens are modern productions made after the 1960s for the increasing demand of token collectors. They are often aged in ways to eliminated any mint luster, but still look like the style of the modern maker. Experience with the tokens of the correct period is necessary to detect these pieces.
  Token collecting.  Tokens were immediately collected after first issued for the merchants of England. (A British minister first collected these, published a catalog and today these early tokens are called Conder pieces, named after Reverend James Conder!). Token collecting today is a study of similar pieces, called topics in America and thematics in England. The list of Token Terminology gives some indication of the range of token terms. In addition to topics mentioned in this list, tokens are also collected by geographical area. (See mat code for a classification of token topics.)
  Large numismatic organizations include tokens (and token collectors), on equal
  basis as coins, medals, paper money (and these collectors). There are also general token organizations, like the Token and Medal Society in America. In addition to these there are specialized organizations, concentrating on a single token topic. These include transportation tokens, tax tokens, amusement tokens, Civil War tokens, elongated coins, trade tokens and wooden money.
        Token Characteristics         
   
    1)  Denomination (Or Value).     
    2)  Authority (Issuer).          
    3)  Limited Purpose.
    4)  Limited Locale.              
    5)  Lettering (Inscriptions).    
    6)  Distinctiveness.
    7)  Recognizableness.            
  References:                                                                                                                            
  NC13 {1992} Alpert and Elman.
  Word List  #25
  Token Terminology
  Admission Pass                       Good For
  Advertising Token                  Grooved Token
  Altered Coin                           Hacienda Token
  Amusement Token                 Hard Rubber Token
  Apothecary Weight                 Hard Times Token
  Bank Token                            Higley Token
  Beer Token                             Holder
  Blacksmith Token                   Hop Picker Token
  Box Coin (see box medal)           Identification Tag
  Bread Tokens                          imitation
  Brunswick Token                   Ingle System
  Bryan Money                          ingot
  CARD                            Inspection Check
  Calendar Token (see               jetton
  calendar medal)                   Kettle Counter
  Car Wash Token                     Kriegsgeld
  Casino Chip                            Lesher Dollar
  Check                                      Letter Punch Machine Tag
  Civil War Token                     Leper Colony Token
  Coal Scrip                               love token
  Coin Replica                           made from
  Coin Weight                           Magicians Token
  Communion Token                 Masonic Token
  Condor Token                         Maverick
  Counter                                   Mechanical Calendar
  Counterstamp (see                  Merchant Token
  counterstamping)             Meter Token
  Coupon                                   Mica
  c/s                                            Military Dog Tag
  cutout                                Milk Token
  Dairy Token                            Miniature (or Model) Coin
  Dog Tag                                  Mirror Shellcard
  Edge Spinner (see optical             Movie Money
  illusion spinner)                    Multitown Token
  Elongated Coin                       Notgeld
  Embossed Coin                       Oversize Coin Replica
  Enameled Coin (see enamel          Parking Token
  and enamelling)                    Permit Tag
  Encased                                   Play Money
  Encased Coin                          Pocket Mirror
  Encased Postage Stamp         Popped Out Coin
  Engraved Coin                        Premium Coin
  Exonoumia                              Prison Token
  Exonumist                               Prisoner of War Token
  Ferrotype                                Racketeer Nickel
  Feuchtwanger                         Raised Dot Spinner
  Fiber Token                            re-engraved
  Flipper                                    Rerolled
  Gaming Counter                     round
  Gaming Token                        Sales Tax Token
  Gift Certificate Token            Scrip
  School Token                          Tag
  Scrollwork Background         Telephone Token
  Sheep Ranch Token                Temple Token (see temple
  Shell Token                                     money)
  Silver Bar (see BAR)              Trade Check
  Simulated                                Trade Token
  slug                                                  Transportation Token
  Soap Token                             Vecture
  so-called dollar                     Wellington Token
  speilmarke (Spielmarken)           Wert Mark
  spinner                               Wooden Money (see also
  Stock Token (see stock         wooden medal)
   design)                               ___
  Sutler Token                             123
  The terms in small caps have entries in this encyclopedia; those terms not in small caps have meaning the same as everyday language.
  Word List  #26
   
  Kinds of Tokens
  Altered Coin.  A genuine coin that is engraved, machined or defaced in some way to make a memento, jewelry item, or other use of it. This term includes love tokens engraved with initials, names or other designs, cutout coins, box coins (see box medal), hobo nickels where the U.S. Buffalo five-cent piece is engraved with new designs, enamelled coins, embossed coins (see emboss, embossing) and magic trick coins.
  Beard Token.  Russian tokens required to be purchased by any many who continued to wear a beard after such facial hair was prohibited.
  Bearer Pass.  A token the owner retains which can obtain admission for some performance or transportation.
  Brunswick Token.  A manufacturer of pool tables and saloon equipment also supplied tokens; these were attractive tokens customized by their client's name on the tokens by insert die on a stock design.
   
  Bryan Money.  Satirical pieces issued for the presidential political campaigns of 1896 and 1900 when William Jennings Bryan (who supported a ratio of gold to silver) opposed William McKinley (who supported a single standard). Bryan lost both elections.
  Capped Coin.  A kind of encased coin where the surface of one side of the coin is completely covered.
  Charge Coin.  A forerunner of the charge card, these diestruck items were issued by merchants with a number identifying the customer. They were called coins, cards, tokens, checks and plates.
  Check.  A diestruck piece, the possession of which indicates ownership, as a baggage check; or in games of chance, a chip or counter; or in its widest sense any token.
  Civil War Token.  A diestruck piece of small size (under one inch), issued during the Civil War (1861-65) and used during a shortage of small change in America. The acceptance of these tokens issued by merchants led to the reduction of the size of the U.S. coin from a large (1 1/2-inch) to the small cent size of 1864 and later. Over 10,000 different Civil War tokens were issued, this spurred a boom among private diesinkers and token manufacturers of the period. The tokens are classed as patriotic (which chauvinistic designs and inscriptions) or storecards (issued by merchants).
   
  Coal Company Token.  Tokens issued to miners who could use the tokens at the company store. Also called coal company scrip.
  Coin Weight.  A stamped metal disk inscribed with its weight the same as a coin for use on a balance scale to attest the full weight of the coin. Usually these were for gold coins to test that none of its metal had been removed and that it was full weight. Early coin weights were made to resemble the coin they were to test; most in metal but some were glass. Later coin weights were sold in sets housed in wood cases, often with the balance scales; the weights were made of brass with knobs on the top to lift them.
  Communion Token.  A religious token, used as admission pass to the communion table in the Presbyterian Church. Originating in Scotland, the custom spread to other countries including England, Canada and the United States.
  Condor Token.  One of the many merchant tokens of England issued in the 1790s; they were named after the first numismatist who cataloged them, Reverend James Condor.
   
  Counter.  A metal token used in games and often in imitation of a coin. Like chips in a card game, counters were usually struck in thin brass but are similar to coins in diameter, design or denomination. They predate poker chips and include Kettle pieces (made by English diesinker of that name), spielmarken (made by German diesinkers), playing card companies and other token manufacturers. They sometimes featured animals or famous people in addition to imitation coins.
  Dog Tag, Military Dog Tag.  An identification tag for soldiers and other military personnel usually worn around the neck. It identified the body in case of death on the battlefield.
  Elongated Coin.  A genuine coin forced between two rollers, one of which was engraved with an oval design which imparted to one side of the stretched out coin. First created at the Columbian Exposition of 1892-3, it became a popular souvenir for fairs and tourist events of all kinds. They are still being made with new designs. Using an old die to make new elongateds is said to be “re-rolled.”
  Embossed Coin.  Usually a genuine coin that is struck again to push out – or embossed – a portion of the existing design, or an entirely new design. These include popular designs as an Indian head, a president, or fraternal symbol. Also called “popped out” or “pushed out” coin.
  Enameled Coin.  A genuine coin in which enamels in bright colors are applied to its surface. Some areas of the coin, particularly detailed devices, are left intact for contrast.
  Encased Coin.  A genuine coin held within a frame or holder containing good luck and/or advertising inscriptions. These manufactured keepsakes were designed in many shapes – the most popular encased coin is the horseshoe shaped aluminum holder with good luck inscriptions and devices (including a four-leaf clover). The concept that the bearer would carry it longer if it had a genuine coin and a good luck theme, thus the owner would be exposed to the advertisement for a longer time.
  Uncirculated cents were usually chosen to be enclosed by an aluminum or
  sometimes brass, celluloid or cardboard) frame; these were usually current cents and in a sense indicate the year of issue. The coin was held in place around it's edge by the expansion of the frame when it was struck.
  However, the coin could be removed with some difficulty. In time some of these coins have been removed; they would bear an impression on their rim and sometimes have a buckled edge.
  The first encased coin was created in America in 1901 and contained an Indian Head cent of that date. The pieces were particularly popular for World's Fairs, but also for tourist attractions and fairs of all sizes. It served as a unique advertising media, an advertising specialty, thus businesses of all sizes issued them. Some collectors include them with bimetalic numismatic items because of the two contrasting metals.
   
  Engraved Coin.  A defaced coin which is smoothed (face milled) on one or both sides, then engraved with some personal message, initials, monogram or inscription. It then becomes a charm or jewelry item. Also called love token.
   
  Ferrotype.  A struck piece with a small ferrotype (an early kind of photograph) pasted in position. Most ferrotypes are political campaign tokens from 1860 to 1872.
   
  Feuchtwanger.  An early coin or token made of a nickel-silver composition invented by Dr. Lewis Feuchtwanger in 1837. He issued pattern coins and tokens in one-cent and three-cent denominations.
   
  Gaming Token.  A chip for use in games of chance or gambling.
  Good For.  A token issued by a merchant to exchange the token for some goods or service; the inscription bears the words "good for" say, a drink at a bar, a loaf of bread or a cigar. These are obviously merchants' tokens.
  Hacienda Token.  Like a plantation token, these were issued in Mexico and South America.
  Hard Times Token.  A private token issued during the economically troubled 1830s to 1842. Similar to large cents of the time (which the public was hoarding), they bore satirical and political inscriptions. Some bore the portraits of political figures of the time, including Andrew Jackson. Their are political hard times tokens and merchants storecards issued during this period.
  Ingle System.  One of several manufacturers of coal scrip.
  Kettle Counter.  A token in imitation of U.S. gold coins but issued in brass made by a diesinker in England by that name.
  Lesher Dollar.  A series of octagonal silver tokens of 1900 and 1901, issued by Joseph Lesher, a merchant and miner of Victoria, Colorado, to promote the use of silver for coinage. Of one dollar denomination, they would be customized by other merchants by punching or engraving their name on the pieces.
  Maverick.  A token whose attribution is incomplete. It is missing either the name, address or type of business of the issuer. Tokens, particularly trade or merchant tokens, are collected by location or type of business, and one or more elements of identification is missing from the inscription on the item. Then it is said to be a maverick. Identification of this data (usually from nonnumismatic sources) is a large contribution to token literature.
   
  Merchant Token.  A token issued to stimulate business for a company that issues it; also called a storecard or trade token. Merchant tokens list a name, address and sometimes the goods or services purveyed by the business. Often the token has a value or will state "good for" something of value. They were created in the United States in the 1830s during a period of hard economic times and continued throughout the 19th century, even unto the present time.
  Parking Token.  A token used for parking a car in a restricted parking area, often for customers or employees of a business. In use since 1950.
  Pass.  A metal token for admission to a theater, other form of entertainment, a private club or sporting event. Sometimes they bear the name of the patron, others say "admission," "adult" or "child."
  Plantation Token.  A token issued by a plantation often for agricultural services rendered and redeemed at a store associated with the plantation.
  Play Money.  Intended for children, these tokens imitated coins in denominations they should become familiar with; used in games and education, and often made in inexpensive compositions, even plastic, cardboard, pressed paper.
  Popped-out. The device of a coin – or a newly formed device – pushed up by mechanical means; also called pushed-out, or embossed. Already struck coins are heat treated then struck again with embossing dies to exert or protrude very high relief with a corresponding deep cavity on the back side.
  Premium.  A token given as a bonus for a paid admission, the making a purchase (or distributed by mail) for a future purchase. Also a bonus for use in slot machines. (It differs from premium, an early name for an award appearing on some medals.)
  Re-rolled.  A reissue of an elongated coin; using an old die to make new specimens at a later time.
  Sales Tax Tokens.  Tokens issued to collect the fractional- cent sales tax enacted by states beginning in 1933. They were made of metal, then fiber, plastic, cardboard and paper. They were eliminated when the tax was collected in full cents on a bracket schedule.
  Scrip.  A token, particularly one issued by a coal company for use in their company store. Workers could get an advance on their earnings, be paid in scrip, but it could only be redeemed at the company store. (Note, this scrip is spelled without a "t" at the end – "script" means paper money.)
  Scrollwork Background.  A mechanically prepared geometric design for the background of a token design to aid in preventing counterfeiting. It is particularly used for transportation tokens.
  Slammer.  A diestruck game piece used in a children's game called "pogs" popular in the early 1990s.  The game pieces were cardboard disks, similar to, and called "milk bottle caps." These were printed on one side only and stacked design side up.  The metal slammer was thrown at this stack in an attempt to flip over as many caps or pogs as possible.  All those that turned over blank side up were kept by that player.  The pogs were restacked and the next player "slammed" the stack.  Most slammers were 1 5/8-inch diameter and struck in brass.
  Spielmarke.  Originally a game counter struck in imitation of a coin design. Made in Germany, the thin diestruck counters were in imitation of 19th century coins of the world. Most had the word "spielmarke" as legend. U.S. gold coins were struck as spielmarke. In other varieties animals, cars or trains were placed on the obverse with a wreath on the reverse surrounding the wording “spiel marke.” The plural of the term is spielmarken.
  Tag.  A metal item bearing data, as a name or number, often indicating ownership, as a baggage tag.
  Telephone Token.  For use in pay phones, these tokens were used by telephone employees to test equipment, businesses, stores for public use. One manufacturer (Yale Slot & Slug Co.) made tokens with slots or pierced shapes or scalloped shape.
  Trade Token.  A token issued to stimulate business or trade; listing the name, address and often the type of business of the issuing company. Also called merchants token or storecard.
  Transportation Token.  For passage or transport by any of a number of conveyances: streetcards, buses, subways, railways, taxis, ferries, across bridges, turnpikes, toll roads. By extension it has come to incude depotels, carousels, amusement rides, metal timetables. They have their own term in numismatics, “vectures” and the collector is a “vecturist.”
  Vecture.  A token intended for use of transportation, passage or parking.
  Vending and Meter Tokens.  Tokens intended for use in coin- operated machines.
  Wooden Money.  Tokens issued in wood, as wooden nickels (or other denominations) in round or flat shape.

  excerpted with permission from

  An Encyclopedia of Coin and Medal Technology

  For Artists, Makers, Collectors and Curators

  COMPILED AND WRITTEN BY D. WAYNE JOHNSON

  Roger W. Burdette, Editor

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