1860 Hawaiian Plantation Token - Waterhouse, White Metal

Coin Details

Auction Record

$21,600 MS61 04-13-2022 Stack's Bowers

Description

The Waterhouse token is among the earliest merchant tokens produced in the Hawaiian Islands, attributed to the Waterhouse family who operated a prominent mercantile business in Honolulu beginning in the 1850s. Henry Waterhouse established himself as one of the most successful merchants in the Kingdom of Hawaii, eventually becoming a member of the Hawaiian legislature and a key figure in the islands' commercial development. This white metal token served as a store card or advertising piece for the Waterhouse commercial enterprise rather than a plantation scrip token, though it circulated within the same island economy that would soon be dominated by sugar. The 34mm piece was produced on the mainland United States and shipped to Hawaii, as the islands lacked minting facilities at this early date. White metal, a tin-lead alloy, was a common choice for merchant tokens of this era due to its low cost and ease of striking. The Waterhouse token predates most Hawaiian plantation tokens by a decade, placing it in the transitional period when Hawaii's economy was shifting from whaling and sandalwood trade toward the sugar plantation system that would dominate the islands for the next century.

Rarity Notes

Scarce. Few examples survive from this early period of Hawaiian merchant tokens. Most known specimens show moderate to heavy wear consistent with circulation in the Honolulu merchant economy.

Cross References

PCGS #600500; Medcalf-Russell Hawaiian Money, Standard Catalog and Price List