(1863) Copper Civil War Store Card F-370I-1a, E.K. Powers MI

Coin Details

Description

Civil War merchant token bearing the name of E.K. Powers, located in Grand Rapids, Michigan. Grand Rapids was a growing commercial center in western Michigan, famous for its furniture manufacturing and lumber industry. With 3 known varieties, E.K. Powers produced a modest number of token types. The copper composition of this variety (Fuld 370I-1a) is common for this merchant. 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 coin shortage of 1862-1864 affected virtually every retail transaction in the Northern states, as hoarding removed silver and copper coins from circulation faster than the U.S. Mint could replace them. 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 3 cataloged varieties, E.K. Powers was a limited producer of Civil War tokens.

Cross References

Fuld 370I-1a