Hard Times tokens (2)
Overall: 1 1/8 in. ( 2.9 cm )
Token; copper, depiction of ships on both sides, one is the U.S.S. Constitution; obverse "WEBSTER / CONSTITUTION / CREDIT 1841 CURRENCY" reverse "VAN BURREN / METALLIC / 1837 / CURRENCY"
Daniel Webster was a strong advocate for the United States Bank, and therefore, opposed Jackson and Van Burren's policies. 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.