This is a very nice Talbot, Allum & Lee Token. They were only produced for two years and this is the first year. These men were engaged in the India trade. Their address was 241 Pearl Street, New York. They placed these tokens in circulation in America but the tokens were made in England. This one is dated 1794, the first year of issue. ONE CENT appears on the reverse under the sailing ship. Their names and NEW YORK are above. The obverse has the date under LIBERTY and she is holding a staff with a Liberty Cap on the top. A package is to her right (out left when looking at the token) and the words LIBERTY & COMMERCE appear above. There is recessed edge lettering which reads PAYABLE AT THE STORE OF. This lettering was changed the next and last year. On both dates a Plain Edge version was also made. It is not known how many were minted or placed into circulation but it is well known that many of these tokens were later cut down and used by the U.S. Mint as planchets for the 1795 and 1797 Half Cents.
I have a 1795 half cent which shows a lot of TAL cent undertype. When I can post pictures again, I’ll post it. Interesting write-up and congratulations on getting 42,000 likes. I am sneaking up on 15,000.
