(1862) Copper Civil War Store Card F-845A-1a, Wm. Binder MI

Coin Details

Description

Wm. Binder, based in Saginaw, Michigan, produced this token as a cent substitute during the wartime coin shortage. Michigan was a significant industrial state during the Civil War, with Detroit emerging as a major manufacturing center and merchants across the state producing tokens. This copper striking (Fuld 845A-1a) is common among the known varieties. The dies for merchant tokens were usually cut by professional engravers who could produce a complete set in a matter of days. Private tokens entered circulation after the suspension of specie payments in late 1861 drained small change from commerce. The Act of April 22, 1864 effectively ended private coinage by imposing penalties of up to five years imprisonment and a $2,000 fine for producing unauthorized coins or tokens. Over 25 million Civil War tokens were produced before Congress ended private coinage in April 1864, making them the largest private coinage movement in American history.

Rarity Notes

Copper strikings are generally the most common metal variant for Civil War store cards, as copper was the standard planchet material mimicking the federal cent. With 1 cataloged varieties, Wm. Binder was a limited producer of Civil War tokens.

Cross References

Fuld 845A-1a