1 Cent (Civil War Token - Army and Navy/Shall Be Preserved) , United States
Obverse
Reverse
Coin Details
Obverse
By 1862, the second year of the Civil War, government-issued coinage began vanishing from circulation. American citizens hoarded all coins with gold and silver, and eventually began hoarding copper-nickel cents as well. This made it extremely difficult for businesses to conduct transactions. In response, many merchants turned to private minters to fill the void left by the hoarded coins. The first of these privately minted tokens appeared in the autumn of 1862, by H. A. Ratterman, in Cincinnati, Ohio. It is estimated that by 1864, there were 25,000,000 Civil War tokens (nearly all redeemable for one cent) in circulation, consisting of approximately 7,000–8,000 varieties
Latin
ARMY AND NAVY
Reverse
Latin
THE FEDERAL UNION IT MUST AND SHALL BE PRESERVED *************
Categories
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