In the study of numismatics tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used in place of coins and either have a denomination shown or a denomination implied by size or shape. They are made of cheaper materials than the precious metals: pewter and white metal were often used.

Tokens have been used for centuries when governments did not issue enough small denomination coins: for control, for discounts (pay in advance, get something free or discounted), or for other reasons. In the United States, the most well-known token is the Wooden Nickel, a five-cent piece distributed by local governments during the Great Depression and perhaps in former times of economic stress.

Local firms, such as butchers and cheesemongers, would issue their own tokens as well, spendable only in their own shops. Railroads used Transportation Tokens for years, to sell rides in advance at a discount (for example, pay for 10 and get 11 rides). Many municipal and commercial transport organizations still offer their own tokens for bus and subway services, or for toll bridges, tunnels, and highways.

Churches and synagogues used to have tokens as well, to be purchased prior to the service and handed in to the collection basket. This was to prevent the church from having to turn counterfeit money in to the bank. Replicas of these tokens have been made available for sale at some churches recently.

The study of tokens used in a town, state or region can be a life-long endeavor, and is where a lot of the serious study of history occurs in numismatics.

See also

• pub token
• exonumia
• casino token

External links

• http://www.exonumia.com/transit.htm Transportation tokens

References

• "Church Tokens", New York Times, April 11, 1993