Hard Times Token
Overall: 1 1/8 in. ( 2.9 cm )
Token; copper; hole punched in top; depiction of Lady Liberty's profile on obverse, boot on reverse; obverse "P B & S DEVEAU'S 156 CHATHAM SQUARE / N YORK" reverse "WHOLESALE & RETAIL BOOT & SHOE / 156 CHATHAM SQARE N.Y. / 1837"
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.