Error Indian Head Army Navy

to the CCF

This piece isn't an an error coin, it's a Civil War token that circulated as "emergency currency" during the war years; this, as hard currency, government issued coins, were then being hoarded.

This issue is one of the most commonly seen store cards or advertising tokens. Those CW tokens lacking a merchant's name are referred to as patriotics. Having collected these for six decades, I'd value this token at $17, wholesale and under $25, retail.

These tokens were privately and often crudely struck and marketed in bulk for a fraction of a cent. As such, a merchant would make a minute profit simply handing these out in change. Of course, they would likely redeem their tokens for subsequent purchases.

One NY City merchant, Lindenmueller, a saloon owner and prolific issuer of CW tokens, refused to redeem his tokens that had been used to purchase conveyance on the railroad. This led to a court case and ultimately a law (1864) that forbade the use of tokens as money substitutes.

I bought my first CW token in the early 1960's. It was dated 1864 and bore an image of Abe Lincoln. I thought it was neat that Abe would've then be able to see his image on a then circulating cent substitute. At that time, it cost me $12.50. Today, this patriotic token trades for $80 to $100 in XF condition.

Looks like it may have been in a bezel at one time.

Great info ExoGuy

to the Community!