(1837) Token HT-194, Nathl. March NH

Coin Details

Auction Record

$780 MS66BN 08-20-2019 Stack's Bowers

Description

This 1837 copper token from Nathaniel March of New Hampshire advertises a merchant who operated during the peak of the Hard Times economic crisis. The abbreviated first name "Nathl." on the token reflects the space constraints of die engraving — fitting a merchant's full identification within the limited surface area of a 28.5mm token required abbreviations and careful letter placement that die sinkers managed through experience and craftsmanship. March's 1837 date places this token squarely in the crisis period following the Panic of 1837, when the suspension of specie payments by banks throughout the country created severe shortages of circulating coinage. In New Hampshire, as elsewhere, merchants found that customers increasingly expected to pay with tokens, notes of questionable value, or book credit rather than metallic currency. Issuing his own tokens allowed March to participate in the informal token economy while advertising his business. New Hampshire Hard Times Tokens are less common than those from Massachusetts and New York, making the March token a useful representative of the state's participation in the token phenomenon. The piece documents commercial activity in a state whose economic history during the 1830s is less thoroughly studied than that of its more industrialized neighbors.

Rarity Notes

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

Cross References

Rulau HT-194