(1863) Copper-Nickel Civil War Store Card F-700E-2d, Frank L. Gay RI

Coin Details

Description

Civil War merchant token bearing the name of Frank L. Gay, located in Providence, Rhode Island. Providence was an important manufacturing center, particularly in textiles and jewelry. The city's merchants issued Civil War tokens to maintain daily commerce. With 4 known varieties, Frank L. Gay produced a modest number of token types. This copper-nickel striking (Fuld 700E-2d) is somewhat scarce among the known varieties. Token manufacturers struck pieces by the thousands, using hand-fed screw presses capable of producing several hundred tokens per hour. Private tokens entered circulation after the suspension of specie payments in late 1861 drained small change from commerce. The copper-nickel composition gave these tokens the closest resemblance to federal coinage of any metal variant. 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-nickel strikings are moderately scarce compared to pure copper or brass versions. With 4 cataloged varieties, Frank L. Gay was a limited producer of Civil War tokens.

Cross References

Fuld 700E-2d