Medal or Token ? Medal or Token ? Is a question every collector eventually has to answer for themselves. Many times I have seen small sized medals listed as a tokens. To my way of thinking a medal commemorates or honors something while a token is a money substitute or at least good for something at the time of issue. For example Civil War tokens are tokens, even the Patriotics without “Good For” statements did or could circulate as one cent. There for a “Token of Appreciation” is usually a medal. For example this rare Franco Prussian War Prisoner of War Camp Guards medal is really a medal in spite of its small size.
@FredJB The classifications go even further than the distinction between tokens and medals. For example, if the medal is smaller than 38mm, it is called a "Jeton". ~ Chris
I think it was around the 13th century that jetons were first used by merchants in the Mediterranean region for adding up a customer's purchases much like the abacus was used in the orient. As the popularity spread throughout Europe, and while the jetons had no monetary value, people began using them as counters for various table games. ~ Chris
