Hard Times token
Overall: 1 in. ( 2.5 cm )
Token; metal; hole at the top of the obverse; depiction of bald eagle, with a shield on its chest and branches in its claws, surrounded by a ring of stars on the obverse; obverse "1837" reverse "S. MAYCOCK & Co. / EVER POINTED / PENCIL CASE / MANUFACTURERS / SAML MAYCOCK / JOHN HAGUE / 35 CITY HALL PLACE N-Y"
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.
Due to ongoing research, information about this object is subject to change.