Arminius Numismatics

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Galerie > Medieval to Contemporary > America > United States of America > USA
United States, 1837 AD., unknown mint, 1 Cent Token, HT-46.
United States, unknown mint, 1837 AD.,
1 Cent Token (28 mm / 9,07 g), bronze, axes about coin alignment ↑↓ (ca. 200°), plain edge, 
Obv.: E PLURIBUS UNUM / 1837 , large Liberty head facing left, E PLURIBUS UNUM on banner above, 13 stars around (representing the first 13 colonies/states of the USA), date below. 
Rev.: MILLIONS FOR DEFENCE // NOT / ONE / CENT / FOR TRIBUTE , wreath, MILLIONS FOR DEFENSE around, NOT ONE CENT FOR TRIBUTE within.
HT-46 . 

Hard-times tokens are large-cent-sized copper tokens, struck from about 1833 through 1843, serving as unofficial currency. These privately made pieces, comprising merchant, political and satirical pieces, were used during a time of political and financial crisis in the United States.
Today, hard-times tokens are collectible as coins as well as political history.
In 1832, President Andrew Jackson ran for re-election and called for the abolition of the Second Bank of the United States. While he won the election, he worked to weaken the bank before the charter expired in 1836. Without the Bank of the United States, state banks attempted to fill the paper money gap and issued a large number of bank notes, which fueled inflation. Hoping to halt the inflation and speculation in public lands, Jackson and his Treasury secretary, Levi Woodbury, issued the Specie Circular on July 11, 1836. The circular simply stated that as of August 15 1836, banks and others who received public money were required to accept only gold and silver coins in payment for public lands.
Instead of the intended results, the circular spelled the end of a time of economic prosperity. The circular set into motion a panic, and the public began hoarding specie. Without specie to pay out, banks and merchants began having financial troubles. It wasn't too long before the effects of Jackson's decision were felt across the nation as banks and businesses failed, and a depression ensued.
By this time, Jackson's vice president, Martin Van Buren, was the elected president in office. The period of economic hardship, the Panic of 1837, during Van Buren's presidency came to be known as the "Hard Times". 

The prototype, the United States large cent was a coin with a face value of 1/100 of a United States dollar. Its diameter varied between 27mm and 29mm. The first official mintage of the large cent was in 1793, and its production continued until 1857, when it was officially replaced by the modern-size one-cent coin (commonly called the "penny").
As a response to public criticism of the Classic Head, the Mint assigned Chief Engraver Scot to redesign the cent in 1816. This newest design enlarged the obverse portrait, giving Liberty a much more mature look (leading to the Matron Head reference), and surrounded the portrait with stars along the outer edge of the coin. The "Matron head" design was modified in 1835 to give Liberty a younger look and matron head cents continued to be made until 1839. 
Schlüsselwörter: United States Cent Token Liberty Banner Stars Wreath

United States, 1837 AD., unknown mint, 1 Cent Token, HT-46.

United States, unknown mint, 1837 AD.,
1 Cent Token (28 mm / 9,07 g), bronze, axes about coin alignment ↑↓ (ca. 200°), plain edge,
Obv.: E PLURIBUS UNUM / 1837 , large Liberty head facing left, E PLURIBUS UNUM on banner above, 13 stars around (representing the first 13 colonies/states of the USA), date below.
Rev.: MILLIONS FOR DEFENCE // NOT / ONE / CENT / FOR TRIBUTE , wreath, MILLIONS FOR DEFENSE around, NOT ONE CENT FOR TRIBUTE within.
HT-46 .

Hard-times tokens are large-cent-sized copper tokens, struck from about 1833 through 1843, serving as unofficial currency. These privately made pieces, comprising merchant, political and satirical pieces, were used during a time of political and financial crisis in the United States.
Today, hard-times tokens are collectible as coins as well as political history.
In 1832, President Andrew Jackson ran for re-election and called for the abolition of the Second Bank of the United States. While he won the election, he worked to weaken the bank before the charter expired in 1836. Without the Bank of the United States, state banks attempted to fill the paper money gap and issued a large number of bank notes, which fueled inflation. Hoping to halt the inflation and speculation in public lands, Jackson and his Treasury secretary, Levi Woodbury, issued the Specie Circular on July 11, 1836. The circular simply stated that as of August 15 1836, banks and others who received public money were required to accept only gold and silver coins in payment for public lands.
Instead of the intended results, the circular spelled the end of a time of economic prosperity. The circular set into motion a panic, and the public began hoarding specie. Without specie to pay out, banks and merchants began having financial troubles. It wasn't too long before the effects of Jackson's decision were felt across the nation as banks and businesses failed, and a depression ensued.
By this time, Jackson's vice president, Martin Van Buren, was the elected president in office. The period of economic hardship, the Panic of 1837, during Van Buren's presidency came to be known as the "Hard Times".

The prototype, the United States large cent was a coin with a face value of 1/100 of a United States dollar. Its diameter varied between 27mm and 29mm. The first official mintage of the large cent was in 1793, and its production continued until 1857, when it was officially replaced by the modern-size one-cent coin (commonly called the "penny").
As a response to public criticism of the Classic Head, the Mint assigned Chief Engraver Scot to redesign the cent in 1816. This newest design enlarged the obverse portrait, giving Liberty a much more mature look (leading to the Matron Head reference), and surrounded the portrait with stars along the outer edge of the coin. The "Matron head" design was modified in 1835 to give Liberty a younger look and matron head cents continued to be made until 1839.

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Datei-Information
Dateiname:HarTiTok.jpg
Name des Albums:Arminius / USA
Schlüsselwörter:United / States / Cent / Token / Liberty / Banner / Stars / Wreath
Dateigröße:143 KB
Hinzugefügt am:%09. %357 %2013
Abmessungen:1024 x 512 Pixel
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URL:http://www.arminius-numismatics.com/coppermine1414/cpg15x/displayimage.php?pid=10126
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