(1863) White Metal Civil War Store Card F-890B-2e, GW-623 J.L. Loveday IL

Coin Details

Auction Record

$960 MS64 11-18-2019 Stack's Bowers

Description

J.L. Loveday & Co., based in Waukegan, Illinois, produced this token as a cent substitute during the wartime coin shortage. Illinois was a critical Union state with Chicago rapidly becoming one of America's largest commercial centers, driving token production across the state. With 4 known varieties, J.L. Loveday & Co. produced a modest number of token types. The white metal composition of this variety (Fuld 890B-2e) is somewhat scarce for this merchant. Merchants typically ordered tokens from die-sinkers who maintained inventories of patriotic and advertising dies for rapid production. Congress banned private token issuance in April 1864, but before that, tokens like this one circulated freely as cent substitutes in Northern commerce. White metal strikings are less common than copper or brass and show more wear due to the soft alloy. 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

White metal (tin alloy) strikings are less common than copper or brass versions and tend to show more wear due to the softness of the alloy. With 4 cataloged varieties, J.L. Loveday & Co. was a limited producer of Civil War tokens.

Cross References

Fuld 890B-2e