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<p>[QUOTE="Collecting Nut, post: 7782243, member: 74863"]That’s a sweet token!</p><p><br /></p><p>It’s a hard times token which was minted privately minted. Government issued coins were hard to find on circulation. At this time President Andrew Jackson declared that real estate transactions in the western part of the country could not be sold on credit. You had to purchased with hold or silver. He also closed the 2nd Bank of the U.S. which reverted the nations currency to State banks. </p><p><br /></p><p>In 1837 when Martin Van Buren was President commercial paper could no longer by turned in for gold or silver coins. This caused the hoarding of coinage, including copper cents. All of this caused the issuance of Hard Times tokens which are copper. They come in various varieties, most of which are the size similar to a large cent. </p><p><br /></p><p>The Hard Times Executive Experiment Token from 1837 is a Fiscal Agent Turtle with Treasure Chest. Also is I Follow in the Steps of My Illustrious Predecessor. The treasure chest represents funds of the treasury and the turtle is probably a dig at the slow of response of the government in addressing the panic. The donkey on the reverse is a symbol of the Democratic party, who at the time was in the White House. President Van Buren had promised to follow what Andrew Jackson did by saying "I Follow in the Steps of My Illustrious Predecessor." This appears to be a criticism of that statement.[/QUOTE]</p><p><br /></p>
[QUOTE="Collecting Nut, post: 7782243, member: 74863"]That’s a sweet token! It’s a hard times token which was minted privately minted. Government issued coins were hard to find on circulation. At this time President Andrew Jackson declared that real estate transactions in the western part of the country could not be sold on credit. You had to purchased with hold or silver. He also closed the 2nd Bank of the U.S. which reverted the nations currency to State banks. In 1837 when Martin Van Buren was President commercial paper could no longer by turned in for gold or silver coins. This caused the hoarding of coinage, including copper cents. All of this caused the issuance of Hard Times tokens which are copper. They come in various varieties, most of which are the size similar to a large cent. The Hard Times Executive Experiment Token from 1837 is a Fiscal Agent Turtle with Treasure Chest. Also is I Follow in the Steps of My Illustrious Predecessor. The treasure chest represents funds of the treasury and the turtle is probably a dig at the slow of response of the government in addressing the panic. The donkey on the reverse is a symbol of the Democratic party, who at the time was in the White House. President Van Buren had promised to follow what Andrew Jackson did by saying "I Follow in the Steps of My Illustrious Predecessor." This appears to be a criticism of that statement.[/QUOTE]
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