(1837) Token HT-46, Not One Cent

Coin Details

Auction Record

$240 MS63BN 08-20-2019 Stack's Bowers

Description

This 1837 copper Liberty / Not One Cent token is another die variety from the prolific E PLURIBUS UNUM subgroup. The standard design features a Liberty head left on the obverse with the E PLURIBUS UNUM banner and date, paired with the "MILLIONS FOR DEFENCE, NOT ONE CENT FOR TRIBUTE" reverse within a wreath. The mass production of Liberty/Not One Cent tokens reflected both political motivation and commercial opportunity. Token manufacturers earned profits from producing cent-sized pieces at costs below one cent each, selling them at face value to merchants who needed small change for their businesses. The political messaging was essentially free advertising for the Whig cause, carried into every transaction where these tokens changed hands. The economic logic of token production during the Hard Times period was straightforward: copper was cheaper than one cent per token-sized blank, the cost of dies and pressing was amortized across large production runs, and the finished products could be sold at their face value of one cent — a margin that made token manufacturing profitable even at modest scales. This economic incentive ensured a steady supply of tokens as long as the coin shortage persisted.

Rarity Notes

Common. Standard copper variety with typical marketplace availability.

Cross References

Low 31; Rulau HT-46