Hard Times tokens 1837-41

A collection of five copper Hard Times tokens. All measuring 1.125" in diameter, n.p., dated 1837-1841. Featuring four various political and satirical images in opposition to Andrew Jackson. All with varying degrees of wear, rubbing, scratching, and patina. Very good overall. Includes:

1. 1837 Hard Times Token, Merchants Exchange, HT 293, Low-97. Featuring the new Merchant's Exchange building on Wall Street, in New York City, built 1827, which burned down in the Great New York Fire of 1835. The reverse reads: "MILLIONS FOR DEFENCE NOT ONE CENT FOR TRIBUTE" to avoid counterfeiting.
2. 1837 Hard Times Token, Liberty, HT 46, Low-31. Meant to appear similar to the U.S. One Cent coin, featuring a bust of Liberty with a laurel crown instead of a headband reading "Liberty." Same reverse as above.
3. 1837 Hard Times Token, Eagle, HT 105, Low-130. Featuring the image of an eagle in flames reading "Substitute For Shin Plasters". “Shin plasters” was a satirical name given to the worthless paper money issued by many banks in the 1830s. The reverse reads: "Specie Payments Suspended May Tenth, 1837."
4. 1837 Hard Times Token, Liberty, HT 49, Low-34. Meant to appear similar to the U.S. One Cent coin, featuring a bust of Liberty with a laurel crown instead of a headband reading "Liberty." Same reverse as #2.
5. 1841 Hard Times Token, Daniel Webster, HT 22, Low-64. Featuring an image of the Ship of State sailing under the Constitution, supported by Webster. Same reverse as above.

These "Hard Times" tokens were issued during the period known as the “Panic of 1837.” In an attempt to control the rampant inflation affecting the country during the early to mid-1830s, President Jackson sought to abolish the Second Bank of the United States and the bank's charter in 1832. Without the national bank, state banks began to issue their own paper notes, causing inflation. In his attempts to halt inflation, Jackson only provoked an economic crisis, with people hoarding coins and causing a depression. In protest to Jackson's actions, private citizens minted their own coins known as "Hard Times Tokens", which were issued between 1832 and 1844 and featured a variety of political and satirical images. In 1837, the Waterbury firm of J.M.L. and W.H. Scovill, operated by brothers James and William Scovill, produced a series of copper tokens to satirize both Jackson and his successor, Martin Van Buren.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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