The new one-cent piece was much closer in weight to the Civil War tokens, and found greater acceptance among the public. In addition to authorizing the minting of the two-cent piece, the act changed the composition of the one-cent piece from a copper-nickel alloy (weighing 4.67 grams) to a lighter, less thick piece comprised of 95% copper (weighing 3.11 grams). While the act is most remembered for the introduction of the phrase " In God We Trust" on the newly created two-cent piece, it also effectively ended the usage of Civil War tokens. On April 22, 1864, Congress enacted the Coinage Act of 1864. Incidents such as these eventually forced the government to intervene. He refused, and the railroad had no legal recourse. The Third Avenue Railroad company of New York, which had willingly accepted a large quantity of the Lindenmueller tokens in lieu of actual currency, asked Lindenmueller to redeem them. One of the common uses for the token was for streetcar fare. In 1863, Lindenmueller had more than one million of his one-cent tokens struck and placed into circulation. One of the most well-known and commonly struck types were store cards known as "Lindenmueller tokens," named for New York barkeep Gustavus Lindenmueller. It is estimated that by 1864, there were 25,000,000 Civil War tokens (nearly all redeemable for one cent) in circulation, consisting of approximately 7,000–8,000 varieties. The first of these privately minted tokens appeared in the autumn of 1862, in Cincinnati, Ohio. In response, many merchants turned to private minters to fill the void left by the hoarded coins. This made it extremely difficult for businesses to conduct transactions. American citizens hoarded all coins with gold and silver, and eventually began hoarding copper-nickel cents as well. The collectible value of the tokens is determined chiefly by their rarity.īy 1862, the second year of the Civil War, government-issued coinage began vanishing from circulation. All three types were utilized as currency, and are differentiated by their designs.
On Jan additional law was passed that forbade all private coinage.Ĭivil War tokens are divided into three types-store cards, patriotic tokens, and sutler tokens.
The widespread use of the tokens was a result of the scarcity of government-issued cents during the Civil War.Ĭivil War tokens became illegal after the United States Congress passed a law on Approhibiting the issue of any one or two-cent coins, tokens or devices for use as currency. They were used mainly in the Northeast and Midwest. This is the same law that is still in effect today.Civil War tokens are token coins that were privately minted and distributed in the United States between 18. This created approximately 7000 to 8000 varieties.Īs the war winded down, the government eventually passed a law saying that no individual can mint their own coins. With the lack of a central authority, each area made its own type of cent. It is estimated that by 1864, there were approximately 25,000,000 Civil War tokens, each of which were valued at 1 cent. This meant that people had to either overpay for an item or just simply not purchase the item.Īs a result, many merchants turned to private minters to help fill this massive void in the economy. Specifically, stores were having a hard time providing people with change. This made is extremely difficult for businesses to conduct business. In addition, people started hoarding all types of coins from gold to copper. The military on both sides were confiscating any type of metal that they could for the war effort. Miscellaneous Quarters, Dimes, Nickels & Penniesīetween 18, several areas throughout the Northeast and Midwest experienced a lack of government-issued cents. American Gold Eagles & American Gold Buffalos
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