(1837) Copper Token HT-289, S. Maycock & Co

Coin Details

Auction Record

$120 AU58BN 08-20-2019 Stack's Bowers

Description

This 1837 copper token from S. Maycock & Co. advertises the business of this New York merchant partnership. Maycock operated in Lower Manhattan during the Hard Times era, and his token follows the standard pattern of cent-sized copper advertising pieces that served as both promotional vehicles and circulating currency substitutes. S. Maycock & Co.'s token was produced during the height of the coin shortage that accompanied the Panic of 1837. The suspension of specie payments by New York banks in May 1837 created an immediate crisis in small-denomination commerce, as copper cents were hoarded alongside gold and silver coins. Merchant tokens like Maycock's filled this void by providing a familiar, coin-like medium that could be used for everyday retail transactions. The Maycock token is one of two die varieties produced for this merchant (HT-289 and HT-290), suggesting a moderate production program that generated sufficient tokens for the firm's commercial needs without the extensive die investment of larger issuers.

Rarity Notes

Scarce. Standard copper variety. Rarity R-2.

Cross References

Rulau HT-289