Municipal trade tokens of Canada Usually referred as Canadian Trade Dollars, these tokens are generally sponsored by a local non-profit organization and given legal monetary value in a specific area and for a limited time by the appropriate local authority. They are used as money in normal commercial transaction during the period of validity even if they have no legal tender value and or not recognized by law. This section presents different trade dollars and municipal tokens of Canada. The links below will guide you to the description and characteristics of these types of tokens and see various where to trade in coins, varieties and values.
New Brunswick Dieppe, Fredericton, Moncton, Shediac, St. Newfoundland Change Islands, Corner Brook, Eastport, Gander, Rigolet, Saint John, St. Nova Scotia Amherst, Baddeck, Baie Sainte-Marie, Black Friday, Cape Breton, Claire, Clare, Darthmouth, Dartmouth, H. In the study of numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia and token coins are token money. Tokens either have a denomination shown or implied by size, color or shape.
In their purest form, currency tokens issued by a company crossed the boundary of merely being “trade” tokens when they were sanctioned by the local government authority. This was sometimes a measure resulting from a severe shortage of money or the government’s inability to issue its own coinage. In effect, the organization behind the tokens became the regional bank. A classic example of this is the Strachan and Co trade tokens of East Griqualand in South Africa which were used as currency by the indigenous people in the region from 1874. Their initial success resulted from the scarcity of small change in this remote region from that time. Similarly, in times of high inflation, tokens have sometimes taken on a currency role. New York City Subway tokens were also accepted sometimes in trade, or even in parking meters, since they had a set value.
A brothel token from the Red Dog Saloon. Coin-like objects from the Roman Empire called spintria have been interpreted as a form of early tokens. Their functions are not known from written history, but they appear to have been brothel tokens or possibly gaming tokens. Medieval English monasteries issued tokens to pay for services from outsiders. These tokens circulated in nearby villages where they were called “Abbot’s money.
Also, counters called jetons were used as small change without official blessing. From the 17th to the early 19th century in the British Isles and North America, tokens were commonly issued by merchants in times of acute shortage of coins of the state to enable trading activities to proceed. The token was in effect a pledge redeemable in goods but not necessarily for currency. In England, the production of copper farthings was permitted by royal licence in the first few decades of the 17th century, but production ceased during the English Civil War and a great shortage of small change resulted.
These tokens were most commonly made of copper or brass, but pewter, lead and occasionally leather tokens are also found. Most such tokens indicate the name of their issuer, which might either be his or her full name or initials. Where initials were provided, it was common practice to provide three—one for the surname, and the other two for the first names of husband and wife. Tokens would also normally indicate the merchant establishment concerned, either by name or by picture. Most were round, but they are also found in square, heart or octagonal shapes. Thousands of towns and merchants issued these tokens between 1648 and 1672, when official production of farthings resumed, and private production was suppressed. Another period of coin shortage occurred in the late 18th century, when the British Royal Mint almost ceased production.
Merchants once again produced tokens, but they were now machine made and typically larger than their 17th century predecessors, with values of a halfpenny or more. Show World Center token, New York City, c. These were issued by merchants in payment for goods with the agreement that they would be redeemed in goods to an equivalent value at the merchants’ own outlets. The transaction is therefore one of barter, with the tokens playing a role of convenience, allowing the seller to receive his goods at a rate and time convenient to himself and the merchant, to tie the holder of the token coin to his shop.
Aluminum trade token from Osage, Kansas. In the United States of America Hard times tokens issued from 1832 to 1844 and Civil War tokens issued in the 1860s made up for shortages of official money. The collecting of trade tokens is part of the field of exonumia, and includes other types of tokens, including transit tokens, encased cents, and many others. In a narrow sense, trade tokens are “good for” tokens, issued by merchants. Token coins in an arcade game. Metal token coins are used in lieu of cash in some coin-operated arcade games and casino slot machines. Money is exchanged for the token coins or chips in a casino at the casino cage, at the gaming tables, or at a slot machine and at a cashier station for slot token coins.
The tokens are interchangeable with money at the casino. They generally have no value outside of the casino. After the increase in the value of silver stopped the circulation of silver coins around 1964, casinos rushed to find a substitute, as most slot machines at that time used that particular coin. The Nevada State Gaming Control Board consulted with the U. In 1971, many casinos adopted the Eisenhower Dollar for use in machines and on tables. When the dollar was replaced with the Susan B.
Anthony dollar in 1979, most casinos reinstituted tokens, fearing confusion with quarters and not wishing to extensively retool their slot machines. In many jurisdictions, casinos are not permitted to use currency in slot machines, necessitating tokens for smaller denominations. Tokens are being phased out by many casinos in favor of coinless machines which accept banknotes and print receipts for payout. These receipts – often nicknamed “TITOs” for Ticket-in, ticket-out, can also be inserted into the machines. In video arcades, they are also being phased out in favor of magnetic cards, which can also count how many tickets one has, allowing arcades to also do away with paper tickets. A de Beers 3d staff salary token given to employees and only usable at their stores. Staff tokens were issued to staff of businesses in lieu of coins.
In the 19th century the argument supporting payment to staff was the shortage of coin in circulation, but in reality employees were forced to spend their wages in the company’s stores at highly inflated prices—resulting in an effective dramatic lowering of their actual salary and disposable income. This design was introduced in 2006. Car washes – Though their use has decreased in favor of coins and credit cards. Public telephone booths in countries with unstable currency were usually configured to accept tokens sold by the telephone company for variable prices. This system was in effect in Brazil until 1997 when magnetic cards were introduced. The practice was also recently discontinued in Israel, leading to a trend of wearing the devalued tokens as necklaces. Fast food restaurants – Often given to children to collect and redeem for prizes.