(1836) Copper Token HT-319, Squire & Merritt NY

Coin Details

Auction Record

$22,913 MS64 11-14-2014 Heritage Auctions

Description

This 1836 copper Squire & Merritt token is one of the common varieties in the series, featuring the firm's ship chandlery business at 175 South Street. The beehive obverse — a symbol of industry and cooperative enterprise — paired with the firm's business identification created an effective advertising piece that circulated widely in lower Manhattan's waterfront commercial district. The rope-making aspect of Squire & Merritt's business connected them to one of the most essential maritime industries. Before the age of wire cable, hemp and manila rope was the lifeblood of sailing ships — used for standing and running rigging, anchor cables, mooring lines, and dozens of other applications. A single large merchant vessel might carry several miles of rope in various diameters, and the constant wear from salt water and wind meant frequent replacement. The proliferation of Squire & Merritt token varieties reflects their use as both advertising media and practical cent substitutes in daily waterfront transactions. Ship chandlers handled numerous small purchases — individual coils of rope, blocks, thimbles, marlinspikes, and other fittings — making token issue a practical solution to the coin shortage that plagued New York commerce during the Hard Times period.

Rarity Notes

Common. Standard copper variety with good availability. Rarity R-1 to R-2.

Cross References

Rulau HT-319