New To Tokens Etc. Have Questions.

I think it's simply a matter of knowledgeable token collectors being very thin on the ground. At a rough guess, for every 1000 collectors of US coins in America, there would be only 50 world coin collectors, and just a couple of token collectors.

"Tokens" is a very, very broad category - even broader than "coins". You've got Colonial tokens, Hard Times tokens, Civil War tokens and store cards, modern tokens, sales tax tokens, transportation tokens, and lots more... and that's just in the US series; every country has a different story with regard to tokens native to it.

This complexity is one factor in making token collecting less popular than coin collecting. There are other factors. Tokens, by definition, are usually not issued by a country's government, central bank or any other official body; this alone accounts for much of the bias against tokens from mainstream coin collectors. This lack of "official-ness" makes tokens seem "less real".

In regard to your first question, there are (relatively) few books put out on tokens, compared to coins, but they are out there if you can find them. The book put out by Krause Publications is Rulau, while Jaeger is the token companion to the RedBook. Some books are dedicated to specific series; the "US transport token book", for example, is Atwood-Coffee, while you need Smith for non-American transport tokens.

But tokens are still very much a "front line" area for numismatic study; for many tokens we simply don't know who issued them, where or why. Since tokens don;t have an "official" government issuer to ask, if a token has little or no information about itself on itself, token researchers don't know where to begin looking for answers.

As for value, like any other object, a token's price is determined by supply and demand. "Supply" for tokens is usually quite low, but demand (as we have seen) is even lower, so the price stays low. Many tokens are as scarce as genuine 1804 dollars, but if practically nobody knows about them and nobody wants them, they'll stay cheap as chips.

I'm afraid I can't count myself among the experts in tokens. Not American ones, anyway. Ask me about Australian, British, New Zealand or Canadian ones and I'm on firmer ground.

Excellent replies here ... That token website is super. I'll add a few lines.

1. An excellent book for categorizing tokens was penned by Stephen P. Alpert and Lawrence E. Elman: "Tokens & Medals - A Guide to Identification and Values of United States Exonumia." First published in 1992, the values have since increased. It offers general info and is a great starter book.
Rulau's "United States Tokens 1700-1900" (4th ed.) is an excellent resource. The info, pricing and attributions are corrected and/or updated with each edition.

2. Token dating is mostly done by using early city directories, newspapers and other reference material. Experienced exonumia collectors may also estimate any particular token's era by the diework and other clues.

3. In addition to supply and demand, there are other factors that sway the values of tokens. Just like coins, condition is key factor. Artistry, the beauty of design, the depth of detail, historic symbols, base metal, etc. can all add to the appeal and value of a token. Perusing Rulau's book, one can see the broad range of token design.

4. There are specialized reference books and clubs/societies dedicated to particular types of tokens. Take a look at the Civil War Token Society website for example. Next year, 2011, is the sesquicentennial for that great conflict. There are around 11,000 different varieties of CWT's. There's a quarterly journal for members; with modest dues. If you can acquire Alpert's book, you might narrow down a few potential token areas of personal interest. Some collectors seek to obtain tokens by location, others by occupation, others by era, others by pictorials ... the list goes on. Unlike coins, there are no album holes to plug, and a collection is simply what one makes of it. Also, even the rare ones tend to be more affordable!