(1864) Copper-Nickel Civil War Store Card F-690D-5d, Penoyer & Larkin IL

Coin Details

Auction Record

$750 MS65 11-18-2020 Stack's Bowers

Description

This Civil War token was issued by Penoyer & Larkin, operating in Paris, Illinois. Illinois was a critical Union state with Chicago rapidly becoming one of America's largest commercial centers, driving token production across the state. The 10 cataloged varieties for Penoyer & Larkin indicate a notable level of token production. The copper-nickel composition of this variety (Fuld 690D-5d) is somewhat scarce 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. Congress banned private token issuance in April 1864, but before that, tokens like this one circulated freely as cent substitutes in Northern commerce. Copper-nickel strikings are moderately scarce, resembling the federal Indian Head cent in both size and color. Many Civil War tokens survive in high grades because merchants and the public saved them as novelties, resulting in a better average preservation than contemporary federal coins.

Rarity Notes

Copper-nickel strikings are moderately scarce compared to pure copper or brass versions. With 10 cataloged varieties, Penoyer & Larkin was a notable token issuer.

Cross References

Fuld 690D-5d