Hard Times 1837 Maycock

Discussion in 'US Coins Forum' started by Heavymetal, Jan 26, 2023.

  1. Heavymetal

    Heavymetal Well-Known Member

    Saved from the LCS junk box
    Pretty beaten but nearly free
    AB022815-F21B-428C-AB8D-CBEFE5933A5C.jpeg CA75EFE8-A170-47DD-95D6-D505C406EA5A.jpeg
    IrishLuck, Hoky77, MIGuy and 10 others like this.
  2. Avatar

    Guest User Guest

    to hide this ad.
  3. Mr.Q

    Mr.Q Well-Known Member

    Heck, I look worse than that. I like it thanks for sharing.
    MIGuy and Tall Paul like this.
  4. Michael K

    Michael K Well-Known Member

    Wow nice one.
    MIGuy likes this.
  5. ksparrow

    ksparrow Coin Hoarder Supporter

    I really like it; beautiful color and patina
    MIGuy and johnmilton like this.
  6. johnmilton

    johnmilton Well-Known Member

    The color is great, but the rims are a mess. It’s still a junk box item.
  7. SensibleSal66

    SensibleSal66 U.S Casual Collector / Error Collector

    Decent token! That's history, there boy! If tokens could talk.............??
    MIGuy likes this.
  8. Heavymetal

    Heavymetal Well-Known Member

    After Andrew Jackson crushed The Second National Bank, the US economy was in the dumper. Hard times across the land. Real history
    And Indian Removal, just wow. These tokens were essential to commerce at the local level. This one shows the reality of Hard Times
  9. johnmilton

    johnmilton Well-Known Member

    From what I've read, the bad stuff didn't happen until Jackson's successor, Martin Van Buren, took office on March 4, 1837. It was known as the "Panic of 1837." As was repeated in 1929, the sins of the previous president were visited upon the next one who got the blame.

    Of course neither Van Buren nor Hoover came up with the right ideas or public demeanor to fix the problem. So they were bounced out of office in the next presidential election.

    One of the problems that Jackson created was his demand that government sales of land had to be made in gold and silver. That caused a flow of those metals from the East to West which caused a liquidity crisis.

    Jackson was fool to veto the Bank of the United States renewal bill. But he hated banks and paper money and believed in hard money so it was consistent with his philosophy. The bank needed reforms, no doubt, but turning over monetary to policy to the poorly run and considerably corrupt state banks was a huge mistake.
Draft saved Draft deleted

Share This Page