Tag Archives: Tokens

Chasewater Railway Museum

Tokens

The Museum has been given a number of tokens from local outlets.

Tokens were issued by merchants in payment for goods with the agreement that they would be redeemed in goods to an equivalent value at the merchants’ own outlets. The transaction is therefore one of barter, with the tokens playing a role of convenience, allowing the seller to receive his goods at a rate and time convenient to himself and the merchant, to tie the holder of the token coin to his shop.

Generally, they have a merchant’s name or initials, sometimes a town and state, and a value legend (such as “3p” or other denomination) somewhere on the token. Types of merchants that issued tokens included general stores, grocers, department stores, dairies, meat markets, drug stores, saloons, bars, taverns, barbers, coal mines, and many other businesses.