Civil War Store Card Auction

Although I'v not actively sought and/or studied Michigan CWT's, I've collected this genre for over fifty years, participating in many auctions, studying dealer lists, etc. Considering that I can't recall ever seeing this CWT up for bids, sale, etc., my guess is "yes" in reply to this question. Stack's has seen two, the better of which was an MS-63 that sold for $546 back in 2009.

My guess is that the MS-62 will likely exceed that amount, now, ten years later. There are a few exonumia collector out there who covet most any token, counterstamp, scrip or the like that's photography-related. I saw a one such daguerreian counterstamp sell for over a thousand this past year. As such, I'd not be surprised if this CWT topped that figure.

While I'm certainly inclined to accept Dave Bowers' R6 estimation, it is an estimate, never-the-less. If there are 20 specimens, this is an R7, at 21, it's an R6. If indeed, this is an R6, it's surely close to being an R7; this, given that no "hoards" are out there.

Rarity, the R-value is but one factor of a token's worth. In the case of the subject token, this merchant carried on two desirable, sought after occupations. Then too, there's a desirable reverse die, given the watch pictorial. There are three merchants from Lyons who issued CWT's, and all three are scarce (I've owned but one - Buttons). So, the subject piece is desirable for those collecting this town, too. The more features or collecting angles a token has to offer, the more demand it will generate and the higher the price it will draw.

Over the years, I've seen an "R6" (Fuld) that I know is an R8, at the worst. I know of an "R9" that's an R3, possibly an R4, at worst. I can speak with authority on these, as they came from a town that I avidly collected for thirty years. At some point in the future, auction sales records may help gauge rarity. Steve Hayden tracks appearances through his auctions, and he's a Michigan specialist. IMHO, he'd be THE best authority on the rarity of this piece; now, in his auction.