I just got notice from NGC they won't grade or slab this as it's or ineligible type? Can anyone shed some light on that? With how little wear there is I'm guessing it's a "pattern" coin? Never meant for circulation? 1 of 1? (wishful thinking).
The Patrick Mint struck several store cards and copper half ounce rounds using the same obverse design paired with different reverses. One example of a reverse can be seen below. If I had to guess, I would hazard your blank reverse example was sent out as a sample for someone contemplating placing an order with Jess Patrick . Z
This token was originally a political piece from 1837 as noted. This is from my collection and I’ve had it for many years. Yours is a more modern copy I believe.
Here’s more information. 1837 U.S. 1¢ - Hard Times Token: Illustrious Predecessor Executive Experiment Country: United States Type: Token - Unclassified Exonumia Years: 1837 Denomination: 1 Cent Currency: United States - Hard Times Token Composition: Copper Diameter: 28.5mm Weight: 10.82g Edge: Plain Obverse: A turtle carrying a large safe labelled "SUB TREASURY" to right. Date below, lettering around, beaded border Reverse: A running jackass to left. Lettering above and below, beaded border Reference: HT# 33 Produced as a satirical and privately produced token from the time of the US financial crisis of 1837; This is an ideological token without a head. The 'executive experiment' was Van Buren's sub-treasury idea using a fiscal agent. The tortoise carrying the safe meant the democrats could never get the Bill through Congress. On the reverse is a line from Van Buren's inaugural speech in which he said "I follow in the steps of my illustrious predecessor." Contemporary cartoons showed Van Buren behind a Jackass stepping in its hoof prints! The period between 1832-1844 was a turning point in the history of the United States and centred around the controversy over whether public funds should be kept in a privately controlled institution. President Andrew Jackson began the controversy by vetoing a bill in 1832, to continue the existence of the private Bank of the United States, and it passed its charter expiration in 1836. An economic depression began in 1837 when even state banks proved to be unworthy places to keep the country’s funds. A whole category of collecting centres around the “Broken Bank Notes” of this period. Emotions ran high and as the economy worsened, the population hoarded gold and silver. Small transactions became difficult. The government hadn’t the capacity to supply copper coins to substitute for the hoarded money. Hundreds of large cent size tokens began to appear to take the place of small silver coins. These tokens had advertising messages or political statements as their themes. This is a Hard Times token (know as “Jackass running”) and is one of the first instances of the symbol of the “Democratic party” of Andrew Jackson. The issuer is critical of the policy of eliminating the Bank of the United States 'I follow the illustrious steps of my predecessor'. The obverse legend says: '1837 Executive Experiment', and above 'Fiscal Agent' referring to the tortoise. On the tortoise’s back is a treasure chest, representing the funds of the United States, and on the chest is 'Sub Treasury' which refers to the independent “sub-treasury” system that the government established. The tortoise likely represented what the critics thought the government would make out of the economy; slow. The critics were nostalgic for the high-flying boom that was fuelled before 1832 by worthless paper money and overextended credit.
One can tell it is modern by looking at the pattern of the shell on the turtle and from its toes. Different dies entirely. Z
And the lines in the shell . . . The font type used on the trunk on the turtles back, the position of the letters in the word TREASURY, as well as the hatching patterns are good diagnostics as well. Mystery solved! The OP's piece is a plain reverse Patrick Mint strike. Z
It has the obverse of HT-34 (or at least that's what it's attempting to emulate) but it's missing the reverse. My guess it's probably a copy. NGC wouldn't call it "counterfeit" because the original wasn't an authorized coin in the first place, but it's not contemporary to 1837. But yeah makes sense they won't slab or grade it. Still, interesting anyway. Honestly one of my favorite Hard Times tokens, which are really underrated as a collectible. A lot less people collect them than Civil War tokens so genuine examples, even in high grades, can be surprisingly affordable.
Civil War tokens with a blank reverse are known, but I am not aware of any Hard Times Tokens (HTT) like that. There are four minor varieties with this design. The differences are trivial to most collectors. One of the varieties is very scarce. Before Jackson’s war with the Bank of the United States that bank handled the government’s banking services. When Jackson pulled the government’s money out of the U.S. Bank he put it his “pet banks.” The government learned that their service was lousy. The Sub Treasury System was created to do the government’s financial functions. The Sub Treasury System was created under the Democratic president, Van Buren, but the Whig party repealed it during their time from 1841 to early 1845. It was established again under James K. Polk and continued until circa 1913. The Federal Reserve replaced it. The reverse, “I follow in the footsteps of my illustrious predecessor” refers to a line in Van Buren’s inaugural address. Since the Whigs frequently portrayed Andrew Jackson as a jack ass, the image was continued.
Yep, it's definitely mocking both Van Buren for that comment, and Andrew Jackson. The treasure chest on the turtle is also definitely mocking the baking policies in question by suggesting it's slowing down economic growth. Both sides of the token are effectively a political cartoon. I do own an example of this token that ANACS has graded "VF-30 details; corroded." (Corrosion seems pretty minor.) Some time I'd love to add more Hard Times tokens to my collection as they're quite interesting, a snapshot of a specific period of history, and surprisingly cheaper than you'd think, even in high condition. There's other collecting interests I have of higher priority, but it's definitely on my list.
I have three of the four major varieties of this design. I don't have the scarcest one which might be harder to find that the book says it is. Low 18, HTT 32 Low 19, HTT 33 Low 20, HTT 34 Note that this one reads "Financiering" instead of "Experiment."
