(1835-44) Copper Token HT-164, William H. Milton & Co. MA

Coin Details

Auction Record

$312 MS65BN 03-31-2021 Stack's Bowers

Description

This copper Wm. H. Milton & Co. token from the 1835-1844 period represents a later die pairing in the firm's extended token series. The design maintains continuity with earlier Milton issues while incorporating die-specific characteristics that distinguish it from HT-163 and HT-165. The later dating indicates the firm continued token production well into the Hard Times period and beyond. Milton's sustained token program across more than a decade makes this one of the longest-running merchant token series in the Hard Times catalog. While most merchants issued tokens during a concentrated period of one or two years, Milton's extended production indicates the tokens proved commercially effective over time — each new variety refreshing the advertising impact and providing new cent substitutes for retail transactions. The transition from pre-panic advertising tokens to genuine emergency currency during 1837-1838, and then back to advertising novelties as the economy stabilized in the early 1840s, is documented within the Milton series. The firm's ability to maintain business operations throughout this turbulent period while continuing to invest in new token dies demonstrates commercial resilience.

Rarity Notes

Common. Standard copper variety. Rarity R-1 to R-2.

Cross References

Rulau HT-164