(1836-37) Copper Token HT-360, Carpenter & Mosher

Coin Details

Auction Record

$5,040 VF Details 08-20-2019 Stack's Bowers

Description

This copper Carpenter & Mosher token from the 1836-1837 period is a later die variety or production run for the Troy, New York firm. The extended date range compared to HT-359 indicates continued token production as the firm's advertising needs evolved and earlier dies wore out. The combination of a 1835-dated first issue and a 1836-1837 second issue spans the critical period from pre-panic prosperity through economic crisis. Troy's economy was particularly sensitive to the Panic of 1837 because the city's commercial prosperity depended on the canal and river trade that connected it to both New York City and the western frontier. When credit contracted and trade volumes declined, Troy merchants experienced the effects quickly. Tokens that had been produced as advertising novelties took on practical importance as circulating currency when official small change became scarce. The Carpenter & Mosher partnership, like many small commercial firms of the period, may not have survived the Hard Times downturn. Business partnerships were particularly vulnerable to economic stress, as partners could disagree about how to manage debt, inventory, and reduced revenue. The tokens may be among the few surviving records of a firm that existed for only a few years during the 1830s.

Rarity Notes

Common. Standard copper variety. Rarity R-2.

Cross References

Rulau HT-360