Why Do We Collect Tokens as Part of a Numismatic Collection?

For some collectors, tokens form a core aspect of their numismatic pursuits. Various factors contribute to this preference, ranging from historical interest to the sheer novelty of these pieces. The featured token, for instance, is a trader’s token made of pressed aluminum from the US, dating back to circa 1940. This token would have been redeemable for a discount of 5 cents, perhaps on a purchase of root beer or a similar item.

Massman’s place 5c token

Collecting tokens often comes naturally alongside coin collecting. Opportunities to acquire tokens arise in various ways—sometimes included as a gift by sellers, obtained through swaps with fellow collectors, or encountered at tourist attractions with penny press machines.

In the UK, for example, many aquariums feature penny press machines, which are also found across Europe and the US, including at popular sites like Madame Tussauds in London. For regular tourists, it is inexpensive and enjoyable to build a folder of these pressed pennies. These machines are impressive demonstrations of the forces involved in pressing coins and are engaging for both children and adults. Designs vary widely, and the shift from original 100% copper pennies to modern copper-plated steel pennies creates distinctly different pressed impressions.

Blue Reef Aquarium Bristol

The mechanics of the penny press with an interesting rare version of the machine.

Tokens are also collected in connection with other hobbies. For instance, a train spotter might acquire fare tokens or metro tokens as tangible mementos of having “spotted” a particular train. One such example is a token from the Shenzhen metro, which contains an RF strip read by fare machines. While such tokens are gradually being replaced by top-up cards in the West, they remain highly collectible.

Tokens have been produced for advertising, trade facilitation, or commemorative purposes, and it is common for coin clubs to issue their own tokens as mementos of events or as promotional items. Collectors often take pride in these specialized issues, with designs ranging from luxurious materials like gold to humble ones like wood. Interestingly, a rare wooden nickel can sometimes surpass the value of a common 18th-century silver token.

Tokens have existed nearly as long as coins themselves, and often offer fascinating avenues for historical research. For instance, colonial-era tokens in India were used by companies to collect materials from workers. The Kanan Devin Hills Produce Company token mentioned above likely served a similar purpose, allowing workers to exchange it for coins at the company office. Its rarity is notable, with a mintage of only 10,000. The company continues to operate, and more information is available at www.kdhptea.com

Content for this article has been kindly contributed by Mr. Alan Gingelos, Numismatist.