Just a few years ago, finding boxes of tokens for sale at a Yard or Estate Sale would likely have been overlooked by most of us. No more. Tokens are fast becoming a sought after collectible, and prices on many of the rarer tokens are zooming, while "real" coin collecting values have somewhat stagnated or even reversed over the past few years (with exception of rare "variations" that will always hold investment value). It makes sense that this would happen when you think about it. Most national coinage was issued in the hundreds of thousands, or millions, of coins. While fun to collect as a kid, or just as a hobby, the sheer numbers produced exclude them from being anything but quite easy to find, and therefore, cheap to buy.
Tokens, on the other hand, were usually a localized production and produced in very limited quantities, often in quantities of several hundred to several thousand. Because of those limited quantities, many versions today have only a very few examples that have survived, and even fewer that survived in finer grades.
Tokens were produced by States, by Towns, and by Counties. They were produced by private businesses, by banks, by organizations, and often produced for events ranging from World fairs to Local Bridge or Building Ribbon Cuttings. What tokens lacked in production numbers for an individual token, they made up for in the sheer number of varieties that were made. Up until recently, most could be purchased very, very cheaply...so one could build an impressive collection without "breaking the bank". Even today, most tokens can be purchased for just a few dollars or less, however some of the rarer versions that just a few years ago sold in this range are now bringing hundreds - or in some cases thousands - of dollars.
Tokens, on the other hand, were usually a localized production and produced in very limited quantities, often in quantities of several hundred to several thousand. Because of those limited quantities, many versions today have only a very few examples that have survived, and even fewer that survived in finer grades.
Tokens were produced by States, by Towns, and by Counties. They were produced by private businesses, by banks, by organizations, and often produced for events ranging from World fairs to Local Bridge or Building Ribbon Cuttings. What tokens lacked in production numbers for an individual token, they made up for in the sheer number of varieties that were made. Up until recently, most could be purchased very, very cheaply...so one could build an impressive collection without "breaking the bank". Even today, most tokens can be purchased for just a few dollars or less, however some of the rarer versions that just a few years ago sold in this range are now bringing hundreds - or in some cases thousands - of dollars.
One of the most common type of older tokens we've seen out there are "Sales Tax Tokens" produced by individual states. Most were produced from 1933 until the early 1940s. There were twelve states that produced these, Alabama, Arizona, Colorado, Illinois, Kansas, Louisiana, Mississippi, Missouri, New Mexico, Oklahoma, Utah, and Washington, and they come in a variety of materials such as brass, zinc, aluminum. fiber, plastic, and even paper. In researching these, one of the surprises is that while most are only worth a dollar or so, some of the later version plastic tokens can be the most valuable. Paper versions, called "scrip", can also be quite valuable, sometimes into the hundreds of dollars. So how do you find what they are worth? We found a great website that explains in great detail what to look for regarding rarity, provided by the American Tax Token Society: CLICK HERE for the link.
In our next blog entry we'll be discussing a bit more about types and values of tokens, so find that box of old tokens, dig'em out and check back shortly!
In our next blog entry we'll be discussing a bit more about types and values of tokens, so find that box of old tokens, dig'em out and check back shortly!
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