Civil War token

Object Number: 
Z.3015
Date: 
1863
Medium: 
Copper
Dimensions: 
Overall: 3/4 in. ( 1.9 cm )
Description: 
Token; copper; bust of an elk with antlers on obverse; obverse "26 & 28 EXCHANGE PLACE. / 1863 / G. GL. / N.Y." reverse "EDWD SCHULZE'S / 24 / WILLIAM / STREET / RESTAURANT"
Gallery Label: 
During the early years of the Civil War concern for possible increases in the value of metals in relationship to paper money caused the general population to hoard first gold and silver coinage and then copper coins as well. By 1962 there were practically no government issued coins in circulation; this made conducting business difficult. In a creative effort to ease commerce, many businesses, primarily in the northern and western states produced privately minted coinage, or tokens. These are generally of two types: ‘store cards’ those advertizing a certain business, redeemable for goods at that purveyor; and ‘patriotics’ made by private die strikers or mints with patriotic motifs. The Coinage Act of 1864 banned private individuals from issuing any form of money, reinforced by severe penalties and a new issue of government minted one and two cent coins.
Due to ongoing research, information about this object is subject to change.
Creative: Tronvig Group