Stanley Gibbons Baldwin’s recently held an auction at 399 Strand on Monday, October 7, 2024, featuring a remarkable collection of over 600 British 18th-century tokens from three distinguished collections, including the renowned Paul Gerrie collection. This auction offered a fascinating glimpse into the final decade of the 18th century, highlighting the diverse coinage used across British counties and industries. The tokens showcased the period’s democratic spirit, where coinage was truly “of the people, by the people, for the people.” Many of the auction’s top lots surpassed expectations, with some selling for far more than anticipated.
One standout was Lot 451, a striking copper halfpenny token from 1797, which featured a unique, grinning face with wild, unkempt hair and wide-open eyes. The inscription reads, “A Wildman’s Head from the Land of Jesso to be seen at…,” while the reverse advertises Richard Summers’ Museum at 24 Old Cavendish Street, Oxford Street, London. This token, issued by Summers, a perfumer and antiquities dealer, represents the Georgian era’s fascination with “cabinets of curiosities,” the forerunners of modern museums. These establishments were filled with exotic artifacts from the British Empire. The Summers’ halfpenny, cataloged in Robert Conder’s 1798 work on 18th-century tokens, was estimated at £300-350 but sold for an impressive £2,760 ($3,603.73 USD) including fees.
Another highlight, Lot 125, featured the beloved “cat and dog” token by Thomas Spence, dated 1796. The token, featuring a dog walking with the words “MUCH GRATITUDE BRINGS SERVITUDE” and a cat with “I AMONG SLAVES ENJOY MY FREEDOM,” sold for £2,760, significantly exceeding its estimate of £250-300. This token reflected Spence’s political views, portraying the British populace as subservient spaniels to the monarchy, while he and his associates saw themselves as independent, like the free-spirited cat.
Lot 327, a 1799 copper penny from Newmarket, also caught attention. Issued by die engraver William Wyon, the token commemorated a famous horse race between “Hambletonian” and “Diamond.” The race, held on March 25, 1799, saw Hambletonian win by a narrow margin. The penny, depicting the winning post and the two horses, was estimated at £600-700 and fetched £1,020 ($1,331.81 USD).
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During the 1790s, Britain faced a shortage of small copper coins due to the ongoing war with France. Copper prices soared, causing official coinage to disappear from circulation, creating hardship for merchants and shopkeepers who needed change for everyday transactions. With the government preoccupied by the war, unofficial “tokens” began circulating as an alternative. These tokens were often produced by local merchants and mining companies and were redeemable for official coins. The tokens were the correct weight and went largely unchallenged, becoming the everyday currency for the British public until the government issued official copper coins later in the decade. These small copper tokens, such as those featured in the auction, became the familiar change in people’s pockets during this turbulent period in British history.