Hard Times Token: The Sober Second Thoughts...
Overall: 1 1/8 in. ( 2.9 cm )
Token; metal; hole punched in top, and the rib is damages; bust of Martin Van Burren on obverse, eagle carrying a banner in its beak flying over a bank on reverse; obverse "THE SOBER SECOND THOUGHTS / OF THE PEOPLE ARE O K" reverse "THE INDEPENDANT SUB TREASURY / THE CHOICE OF THE PEOPLE"
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.