(1836) Copper Token HT-323, Squire & Merritt NY

Coin Details

Auction Record

$408 AU58BN 11-18-2019 Stack's Bowers

Description

This 1836 copper Squire & Merritt variety features another die combination in the series, maintaining the consistent advertising design while exhibiting die-specific details that distinguish it from HT-319 through HT-322. The firm's continued production of new die varieties demonstrates sustained demand for token coinage in their South Street chandlery business. The maritime supply trade that Squire & Merritt served was undergoing transformation in the 1830s. American shipbuilding was booming, with New York-built packets and clippers gaining international reputations. The growth in vessel size and number increased demand for cordage and chandlery supplies, making the rope-making and ship supply business increasingly profitable. Tariff debates of the Jacksonian era directly affected chandlers, who relied on imported Manila hemp for their highest-quality rope while also using domestically grown hemp. Each new token die represented a meaningful investment for the firm — several dollars for the die sinker's time and skill. The willingness to commission new dies repeatedly demonstrates that Squire & Merritt found token advertising commercially effective among the maritime community, generating enough additional business from waterfront customers to justify the ongoing expense.

Rarity Notes

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

Cross References

Rulau HT-323