1858 Token Miller NY-493A Copper, Lovett Atlantic Telegraph Laid

Coin Details

Auction Record

$528 MS63BN 03-29-2023 Stack's Bowers

Description

This token (Miller NY-493A) was produced by George H. Lovett to commemorate the laying of the first transatlantic telegraph cable in 1858. The cable, stretching from Ireland to Newfoundland, was one of the greatest engineering achievements of the nineteenth century. Though the first cable failed after just three weeks of operation, it demonstrated the feasibility of transatlantic communication and paved the way for the permanent cable completed in 1866. Struck in copper, this token matched the federal large cent in appearance and weight, making it immediately recognizable to the public. Copper remained the dominant planchet choice for merchant tokens throughout the antebellum and Civil War periods. Cataloged as Miller NY-493A in the standard reference for American merchant tokens. Merchant store cards from this period served dual purposes: as advertising for the issuing business and as practical small change during periods when federal coinage was scarce or inconvenient.

Rarity Notes

Copper striking, the standard metal for merchant tokens of this period. Miller NY-493A.

Cross References

Miller NY-493A