1841 May 10th Hard Times token

[dognose]

 

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[villagenut]

You must have an impressive token collection dn. They all have lots of character, and a good story behind many. I have one hard times token...think it says bentonian currency on it.

 

[l.cutler]

The real connection to history is what I love about these tokens. They really tell about what was going on at the time.

 

[dognose]

You must have an impressive token collection dn. They all have lots of character, and a good story behind many. I have one hard times token...think it says bentonian currency on it.

Thank you. I got into tokens a number of years back. for the reason mentioned.

 

[Davers]

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What a Nicely minted Token & in sweet condition . Also 1 day before my B -Day .

 

[villagenut]

What a Nicely minted Token & in sweet condition . Also 1 day before my B -Day .

Dang davers....you're that old ?

 

[ArfieBoy]

Super cool Hard Times Token. Congratulations! Thanks for sharing.

 

[invent4hir]

What a stunning token! Had to look up May 10, 1837 to discover why a token was made...per wiki
The ailing economy of early 1837 led investors to panic, and a bank run ensued, giving the crisis its name. The bank run came to a head on May 10, 1837, when banks in New York City ran out of gold and silver. They immediately suspended specie payments, and would no longer redeem commercial paper in specie at full face value.[3] A significant economic collapse followed: despite a brief recovery in 1838, the recession persisted for nearly seven years. Over 40% of all banks failed, businesses closed, prices declined, and there was mass unemployment. From 1837 to 1844, deflation in wages and prices was widespread.[4]