Hard Times token
Overall: 1 1/8 in. ( 2.9 cm )
Token; metal; depiction of a bald eagle with a shield on its breast on obverse, ring of garland on reverse; obverse "GENTLEMANS FURNISHING / STORE" reverse "BUT JUST AS GOOD / NOT / ONE / CENT"
In 1837 and again in 1857, financial crises caused loss of confidence in paper money and widespread redemption of currency in coin. Banks were soon forced to suspend specie payments, and tokens and fractional notes had to serve as smaller change.
Presented by Oscar T. Barck. Jan. 15, 1924
Due to ongoing research, information about this object is subject to change.