Nice silver shillings Aidan - here is one of mine from Newark
Rok
Edited to add: "In 1811 silver tokens were issued at Newark, value is. There are four varieties of these. Probably the issuing of these pieces by a number of tradesmen was done in order to share the cost of the die and to procure a quantity of tokens at a cheaper rate, and also to inspire confidence.
Obverse. A view of the Town Hall with inscription " Town Hall, 1811." Newark silver token for one shilling.
Reverse. The current value payable in cash notes. T. Stansall, Cha s Moore, Rich<* Fisher, W m Fillingham, W m Readitt, and T. Wilson. (No. 45.)
Thomas Stansall was a grocer, Charles Moore a chemist, Richard Fisher and William Fillingham drapers, William Readitt a grocer, Thomas Wilson a brazier.
Sir Edward Thomason, in his Memoirs, states :
"The copper and silver change became so extremely scarce that the demand for the manufacture of tokens to enable the masters to pay their workmen their weekly wage was so great that I had endless applications for both. I manufactured during this year silver and copper tokens for Wales, Brecon, Gainsborough, Newcastle-on-Tyne, and for many different establishments. In 1811 I manufactured above two million copper tokens for Samuel Fereday, the great ironmaster, who employed 5000 people."
Reply #2
by BCNumismatics on 03 Oct, 2010 03:11
Rok, That's a very nice 1/- from Newark that you have got there.
I have got a 1 Penny as my only currency token from Newark.
English silver currency tokens are very hard to find.
It has been a few years since I last found silver ones.
Not "English" though with the English king. Ireland Bank Token 1813 S 6618; Craig 9; KM Tn5
Mike, That's a very nice Irish 10d. that you have got there.
That type is one that eludes me.
As both the British 1/6 & 3/-,plus the Irish 5d.,10d.,30d.,& 6/- are listed in Krause,they are actually regarded as being coins.
Aidan.
Reply #7
by mmarotta on 04 Oct, 2010 18:49
Thanks for the links, deagle74, I followed them and archived them for myself. (I printed out the title page of the book and wrote the URL on it.) The Token Society article was succinct, but I have to quibble with their editorializing.
Quote
These tokens are typically of fine silver, but are light weight according to the standards of the time; 5 shillings and 2 pence coins per ounce of fine silver. But it was these standards that had prevented the mint from issuing coins, as they could not afford the silver at market prices and then issue coins only for them to be melted immediately by the unscrupulous. ... in 1813, by which the problems of an unregulated token coinage had appeared, with counterfeiting, reduced silver quality, reduced weight and some issuers refusing to redeem their tokens.
Just to say that I got into numismatics because of the works of Ayn Rand and the Austrian economists. Most of my peers endorse "Francisco's Money Speech" (see here). I mention that because the market price of silver was not truly the impediement, but that the silver coins of the Crown were tariffed in money of account, rather than merely being metal, which, in fact the gold sovereign was, much to its credit. Moreover, people who melt coins for a profit are not unscrupulous: they are realistic. Finally, defaults are the risks which always attends any promises. When banks fail we call them "wildcats" but we do not apply the same term to grocers and pharmacists who fail. Failure is a risk in business. As the great capitalist of insurance, Caldecott Chubb expressed it: "If there were no losses, there would be no premiums." No risk means no profit. That said, the links were interesting and valuable. Thanks again.
Thanks, also, Aidan. Glad you liked the token. And that it is a "coin" is also an interesting view, which I share.
