It is a token from London's theater one of many performances by Howes and Cushing's Great United States Circus at the Alhambra Palace in London's Leicester Square in 1858. Seth Howes (1815-1901) and Joseph Cushing (1818-1884) went into partnership in the United States in 1856 and sailed to Liverpool where they landed on 25 March 1857 with 72 horses, and 50 performers and assistants. The circus travelled throughout the country before opening at the Alhambra Palace where they gave a private performance for Queen Victoria and the royal family on 14th May 1858. Might have been exchanged for a ticket by the way Queen Victoria recorded going to 'the Panoptican' (the Alhambra's former name) with her brother Leiningen, her daughter Alice and the five children and seeing 'a very varied and wonderful performance' with 'excellent riding
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