Hard Times token
Overall: 1 in. ( 2.5 cm )
Token; metal; depiction of an arm and hammer on obverse; obverse "ROBERT B. RUGGLES GOLD BEATER / 225 CANAL / STT. / NEW-YORK" reverse "GOLD & SILVER LEAF, GOLF & SILVER BRONZE. / DENTISTS GOLD / AND TIN FOIL, / WHOLESALE / AND RETAIL."
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.