1 Penny Wholesale and Retail Bakers Confectioners and Grocers (mule)

This piece is a mule — a coin struck from dies that were never intended to be paired together. New Zealand trade tokens of the 1850s–1860s were produced almost entirely by a handful of Birmingham manufacturers, primarily Heaton's Mint, who held multiple die sets simultaneously for competing colonial clients. Mismatched pairings occasionally resulted from workshop error or deliberate experimentation, and the surviving mules from this production run occupy an awkward taxonomic space: genuine products of the original dies, but never authorized combinations.

Ruchin's reference number 597 places this among the rarer documented mule varieties in the New Zealand token series.