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1837 and 1838 Large Cents and Their Hard Times Token Counterparts
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<p>[QUOTE="johnmilton, post: 7449593, member: 101855"]The Panic of 1837 was a particularly nasty economic depression that lasted for almost six years. It was a period of great hardship for many working class Americans when the “safety nets” that we take for granted, like unemployment insurance and food stamps, were not available.</p><p><br /></p><p>During this period there was a shortage of circulating coinage. Private issuers picked up the slack with tokens that sometimes resembled the large cents of the period. Some of these pieces presented political messages, usually against the Democratic Party, which was in power until March 1841, while others were politically neutral. Collectors now call this series of pieces the Hard Times Tokens (a.k.a. HTTs).</p><p><br /></p><p>Here are a couple of large cents and two Hard Times Tokens that was issued during the period. The tokens are just two pieces I picked at random from my collection. There are many other varieties. </p><p><br /></p><p>An 1837 Large Cent</p><p><br /></p><p>[ATTACH=full]1291899[/ATTACH] </p><p><br /></p><p><br /></p><p>A Typical "Millions for Defense, Not One Cent for Tribute" HTT</p><p><br /></p><p>[ATTACH=full]1291902[/ATTACH] </p><p><br /></p><p>The "Loco Foco" HTT - The Loco Focos were a radical wing of the Democratic Party. At one evening Democratic Party meeting, the regular Democrats shut off the gas lights in the hall to shut the Loco Focos down. They took out their "Loco Foco" brand matches, lit some candles and continued their meeting. </p><p><br /></p><p>The opposition Whig Party tried to paint all Democrats as Loco Focos. This political token features an unattractive head of "Lady Loco Foco" on the obverse. The reverse wording, "Benton Currency" and "Mint Drop" refer to Senator Thomas Hart Benton and the slang name the Whigs had for the gold coins that collectors now call the Classic Head $2.50 and $5.00 pieces. Benton, who was Andrew Jackson's right hand man in the Senate, proposed the legislation that lead to the Classic Head coinage. </p><p><br /></p><p>[ATTACH=full]1291903[/ATTACH] </p><p><br /></p><p>Here is an 1838 Large Cent. </p><p><br /></p><p>[ATTACH=full]1291900[/ATTACH] </p><p><br /></p><p>I have some other Hard Times Tokens, but now it's your turn. Post any Hard Times Tokens that you might have.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 7449593, member: 101855"]The Panic of 1837 was a particularly nasty economic depression that lasted for almost six years. It was a period of great hardship for many working class Americans when the “safety nets” that we take for granted, like unemployment insurance and food stamps, were not available. During this period there was a shortage of circulating coinage. Private issuers picked up the slack with tokens that sometimes resembled the large cents of the period. Some of these pieces presented political messages, usually against the Democratic Party, which was in power until March 1841, while others were politically neutral. Collectors now call this series of pieces the Hard Times Tokens (a.k.a. HTTs). Here are a couple of large cents and two Hard Times Tokens that was issued during the period. The tokens are just two pieces I picked at random from my collection. There are many other varieties. An 1837 Large Cent [ATTACH=full]1291899[/ATTACH] A Typical "Millions for Defense, Not One Cent for Tribute" HTT [ATTACH=full]1291902[/ATTACH] The "Loco Foco" HTT - The Loco Focos were a radical wing of the Democratic Party. At one evening Democratic Party meeting, the regular Democrats shut off the gas lights in the hall to shut the Loco Focos down. They took out their "Loco Foco" brand matches, lit some candles and continued their meeting. The opposition Whig Party tried to paint all Democrats as Loco Focos. This political token features an unattractive head of "Lady Loco Foco" on the obverse. The reverse wording, "Benton Currency" and "Mint Drop" refer to Senator Thomas Hart Benton and the slang name the Whigs had for the gold coins that collectors now call the Classic Head $2.50 and $5.00 pieces. Benton, who was Andrew Jackson's right hand man in the Senate, proposed the legislation that lead to the Classic Head coinage. [ATTACH=full]1291903[/ATTACH] Here is an 1838 Large Cent. [ATTACH=full]1291900[/ATTACH] I have some other Hard Times Tokens, but now it's your turn. Post any Hard Times Tokens that you might have.[/QUOTE]
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1837 and 1838 Large Cents and Their Hard Times Token Counterparts
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