1 Cent Civil War Token - Army and Navy/Shall Be Preserved
1 Cent Civil War Token - Army and Navy/Shall Be Preserved
€7,953.00
Location
United
States
Year
1862-1864
Type
Emergency coinage › Merchant
tokens
Composition
Copper
Weight
3.1 g
Diameter
19.8 mm
Thickness
Shape
Round
Technique
Milled
Orientation
Edge
Period
Reference(s)
Obverse description
By 1862, the second year of the Civil War, government-issued coinage began vanishing from circulation. American citizens hoarded all coins with gold and silver, and eventually began hoarding copper-nickel cents as well. This made it extremely difficult for businesses to conduct transactions. In response, many merchants turned to private minters to fill the void left by the hoarded coins. The first of these privately minted tokens appeared in the autumn of 1862, by H. A. Ratterman, in Cincinnati, Ohio. It is estimated that by 1864, there were 25,000,000 Civil War tokens (nearly all redeemable for one cent) in circulation, consisting of approximately 7,000–8,000 varieties
Obverse lettering
ARMY
AND NAVY
Obverse script
Latin
Reverse description
Reverse lettering
THE FEDERAL UNION
IT MUST AND SHALL BE PRESERVED
*************
