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.
