(1837) Token HT-69, Shin Plasters

Coin Details

Auction Record

$2,412 MS63RD 06-16-2024 Heritage Auctions

Description

This iconic token features one of the most famous and frequently reproduced designs in American political numismatics. The obverse depicts Andrew Jackson standing in or emerging from a treasure chest or strongbox, holding a sword in his right hand and a money bag in his left, surrounded by the legend "I TAKE THE RESPONSIBILITY." The reverse shows a jackass or donkey with "LL.D." inscribed on its flank, "ROMAN FIRMNESS" above, "THE CONSTITUTION AS I UNDERSTAND IT" around the border, and "VETO" below. Jackson's declaration "I take the responsibility" was his defiant response to critics who accused him of overstepping his constitutional authority by removing federal deposits from the Second Bank of the United States in 1833. The phrase became both a rallying cry for his supporters, who admired his decisiveness, and a point of attack for his opponents, who saw it as evidence of authoritarian excess. The token's depiction of Jackson standing over a strongbox with sword and money bag expressed the contemporary fear that the president had seized control of both the military (sword) and the treasury (money bag). The reverse is equally rich in political symbolism. "LL.D." mocks the honorary Doctor of Laws degree that Harvard University awarded Jackson in 1833, despite his lack of formal education — President John Quincy Adams, a Harvard alumnus, boycotted the ceremony in protest. "Roman Firmness" sarcastically characterizes Jackson's stubbornness as a virtue. "The Constitution as I understand it" ridicules his subjective constitutional interpretation. "VETO" references his landmark veto of the Bank recharter bill.

Rarity Notes

Common. The "I Take the Responsibility" design is one of the most frequently encountered and widely collected Hard Times Tokens. Rarity R-1 on the Rulau scale.

Cross References

Low 51; Rulau HT-69; DeWitt CE-1834-7