(1863) Copper Civil War Store Card F-175M-1a, I. P. Sherwood OH

Coin Details

Auction Record

$259 VF30 12-13-2016 Heritage Auctions

Description

Merchant token from I. P. Sherwood of Cleveland, Ohio, cataloged as Fuld 175M-1a. Cleveland was a major Lake Erie port and growing industrial center connected to Eastern markets by railroad and the Ohio & Erie Canal. I. P. Sherwood issued 8 die varieties, more than most Civil War merchants. Struck in copper, this die combination (Fuld 175M-1a) is common. 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. Merchants in border states faced particular challenges during the coin shortage, as economic uncertainty and military activity disrupted normal commercial patterns more severely than in the interior. After Congress banned private coinage in 1864, surviving tokens became instant collectibles, with serious collecting beginning within a decade of the war's end.

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 8 cataloged varieties, I. P. Sherwood was a minor token issuer.

Cross References

Fuld 175M-1a