Money of the Merchants

By Gordon Yowell

 

            MERCHANTS’ TOKENS, trade checks, “hickeys,” or whatever else they were called, played a vital part in the economy and development of our West.  They were a medium of exchange used by stores, saloons, livery stables, and restaurants; in factm about all of the early business enterprises used tokens.

            Some card rooms and taverns in certain areas issue and redeem them at the present time.

            They were generally made of bass, bronze, aluminum, nickel, or German silver.  The author has in his collection a set made of lead, issued by an early-day merchant of Hays City, Kansas. 


They were of various shapes, round being the most popular, and of various denominations.  The “bit”(12 ½ cents) was in common use in the saloons, as drinks were generally two for two bits.  Other tokens were good in trade or merchandise for 5 cents, 10 cents, 25 cents, 50 cents, $100, and $5.00.


Others were good for one cigar, one drink at the barm one feed for a team at the livery stable, one meal at the restaurant, etc.  The writer has one in his collection, found in the famous old mining town of Grass Valley, California, that reads, “Good for one tune on the banjo” at Si Rowe’s Place.

Houses of ill repute issued them also, Fannie Porter’s of Fort Worth and The Cliff House of Rossland, British Columbia, to name a couple.  These tokens were stamped on the reverse side, “Good for One.”


The sutler group, military, Indian trader and post exchange types were issued or sold to soldier and other personnel by the sutler or post exchange and were used by that body to purchase drinks and other extras not on their regular issue.  The writer has in his collection tokens from Whipple Barracks, Arizona, Fort Grant, 21st Infantry, 4th Cavalry counter-marked “7,” Fort Laramie and others.  The denomination is on the reverse side.

Some of the sutler token read “Good for $1.00 in Trade Goods” and have the name of the sutler embossed on the reverse, as “Lowry, Beall & Co.”

Another group which played an important part in the Northwest and Canada were the “Beaver” tokens used by the Hudson’s Bay Company.  These were issued to trappers.  The value of these tokens was based on beaver skins and were in denominations of 1 “Made Beaver,” ½, ¼, and 1/8. 

When the tokens were made in England for the company, the die maker assumed that MB was intended for NB, and that’s the way they were struck.  The genuine can be easily identified by the NB on the reverse and the Company Coat of Arms on the obverse.  The trademark is a fox between two deer.

Other firms using similar tokens were the North West Company, Lampson & Hubbard, and I. G. Baker, the latter having headquarters in Fort Benton, Montana.  These firms were absorbed by the far-flung Hudson’s Bay Company and after the turn of the century these tokens were rarely used.

Early-day railroads used a “Cord Wood” token for fuel for their wood-burning locomotives.  These had the initials of the railroad followed by the denomination, 1 cord, ½ cord, ¼ cord, etc. and were given to the wood contractor or wood cutter and later redeemed by the railroad for wood received.


The importance of transportation tokens can’t be minimized.  The early street railways, horse and mule-drawn cars used tokens, usually of vulcanite or hard rubber composition.  They depicted horses or mules pulling a streetcar with the company’s name or initials on the obverse, the reverse side showing the value, one fare, one-half fare, one trip, etc.  These were followed the latter half of the last century by tokens of metal content (nickel, silver, and German silver being widely used).  Bronze, aluminum, zinc and copper followed this composition and are used to the present time.

Toll roads, bridges, ferries and omnibuses (the latter a predecessor to streetcars) also used tokens.  Toll bridges and ferries of today use this medium of exchange.

“Depotels” (Hotel to Depot) or “Drummers Checks” were widely used in towns that had no streetcars.  In some cases they were issued by the hotel itself if it ran its own “hack line”; in other towns the livery stable had this business.  Baggage firms, drayage firms and private individuals used tokens.  At first this form of transportation was horse drawn hacks or express wagons; later it was followed by the motorized ”jitneys” or buses.  The commercial men or salesmen of that bygone era, popularly known as “drummers” always had their heavy sample cases and other baggage, and “hacks” were the answer to their problems of getting from place to place.

Many other businesses used some form of tokens, such as dairies, orchards, poultry stores, berry growers, newsstands and shine parlors.
 

The White Elephant Saloon in Fort Worth was the place where its proprietor, Luke Short, shot and killed “Long Haired” Jim Courtright, who was trying to work an early version of the protection racket.  Short, a former resident of such hurrahtowns as Dodge City, Leadville and Rombstone, in that order, took a dim view of this form of extortion and neatly drilled Courtright between the eyes. 

The other famous Texas token was issued by the Palace Saloon of Austin, a favorite gathering place for such famous gunmen as King Fisher, Ben Thompson, and John Wesley Hardin.  The proprietor, Jules Bornefled, had his famous race horse, “Parole” depicted on the tokens issued by the Palace.

The founder of the widely known saloon in the heart of Portland’s skid row, August Erickson, issued aluminum tokens when he opened the Portland and Astoria, Oregon, locations.  The Portland place supposedly had the longest bar in the West, more than 600 feet in length.  It, as well as it counterpart in Seattle, “Our House,” was a hangout for loggers and seamen and had a very colorful background.  The Portland place is still in operation. 

Any tokens from the Eagle Saloon in Nevada City, California, is a rare one.  This saloon was operated in the early days of the Gold Rush and was located a short distance from the gambling house where Elenore Dumont, known later as “Madame Mustache,” made her debut in the middle 1850’s.  Madame Mustache was a French woman and, after a couple of years in Nevada City, roamed over the entire West-Eureka and Pioche in Nevada, Silver City and Boise in Idaho, Bannack and Fort Benton in Montana.  She followed the construction camps in Wyoming when the Union Pacific railroad was being built, made the Black Hills gold boom at Deadwood, went to Tombstone, and finished up back in California, at Bodie, the wildest camp of them all.  She committed suicide there in September, 1879.

The Teller House of Central City, Colorado, also represented in this group of old tokens, was at the time of its opening, in 1872, finer and more elaborate than anything Denver afforded.  When President Grant made his western tour in 1873, a sidewalk of solid silver bars was laid from his stagecoach to the hotel for him to walk on.

The Occidental Hotel, of Buffalo, Wyoming, is a rather historical building.  It was in front of this place that “the Virginian,” the hero of Owen Wister’s popular novel of that time, shot it out with Trampas.

Tokens from the old ghost town of Tin Cup, Colorado are very rare.  Tin Cup was incorporated in 1882, and at that time had two smelters in operation and a population of 1,200 people.  It got its name from one of the prospectors, Fred Lottes, who used a tin cup to pan his gravel.  The town was notorious in its heyday for the high mortality rate among its peace officers.

My favorite token is the one from the ghost town of Wonder, Nevada.  Perhaps it is due to the circumstances under which I acquired it.  My guide and companion for the day, an eighty-one-year-oldster born in the rip-roaring town of Pioche, had driven over that morning to explore and look around.  I am a ghost town buff, have been since I was a small boy in Colorado, and my companion had worked in the camp during its height.  He had gone there in 1908, shortly after it opened, and could give first had information on the operation.

While poking around in the rubble of some of the buildings, I found a woman’s high button shoe, twisted and curled by the elements, and a sun-purpled bottle embossed with the words, “Bliss Liver & Kidney Cure, Stockton, California.”  We were walking down what had formerly been the main street when I kicked up what appeared to be a metal disc.  After some of the dirt was rubbed off, I recognized what was a bit token.  This type was seldom used east of Kansas or Texas.  It was embossed on the obverse, “The Overland, Wonder, Nevada” and on the obverse read, “Good for 12 ½ cents in trade.”

This started the old man to “harking back” and we took advantage of the sparse shade of one of the half-dead  locust trees that lined the former main thoroughfare.  My companion started telling of that long ago era when the camp, as he put it, “was a going Jessie.”  He told me he remembered The Overland very well indeed, that at first it was a walled-up tent with a board floor, and was owned and operated by a large, red-haired woman said to be from Nome, Alaska.

She was soon joined in this enterprise by a one-legged, hard-bitten character remembered only as Nogales, because he hailed from the town in Arizona by that name.  Nogales used a Winchester for a crutch and had a quieting influence on the customers of the place.  The old man said many an “exciting discussion” and fight in the making withered on the vine when the clump-clump of Nogales and his crutch could be heard approaching.  Things rocked along in this cozy manner for a year or so until one day the woman from Nome caught Nogales making love to an occupant of “Madge’s Place,” and worked him over with his own crutch.  When last seen, Nogales had hitched a ride on a Mormon peddler’s watermelon wagon and was going in the direction of Fallon. 

As for the woman from Nome, the old man said that after a succession of paramours, each one more worthless than his predecessor, she drifted to the wide open lead and  silver mining town of Eureka and then to oblivion.

As we was under the locust tree, that sun-drenched day of long ago, the old man’s voice droned steadily on.  It had a “gone” sound like the wind in pine trees, restful but somehow sad, telling of people and happenings when the camp was young.  He told of high-grading rich ore form the Nevada Wonder mine, and then getting cold feet and dumping it down an outdoor “Chic Sale”; of one Hallowe’en when pranksters took an ore wagon apart and reassembled it on top of the camp’s one-room schoolhouse; of two occupants from one of the houses of ill fame fighting a duel with half the camp cheering them on; of small boys teasing the Chinese gardeners; of the six- and eight-horse ore teams pulling the heavily loaded wagons; of the teamsters; of the Thomas Flyers and White Mountain Wagons which provided the transportation.  I always planned to go back and see this old-timer, but never did and he is long since dead.

WHEN I look at the old tokens they bring to mind a portion of a poem I found in the old “Tie Hack” town of Encampment, Wyoming, in 1942,

“Her picks are rust,

Her bones are dust,

‘Tis forty years

Since she went bust.”

There is no established market in tokens as yet.  Mostly collectors buy and trade with other collectors.  Dealers have them but usually they are thrown in their “junk” boxes with odds and ends.

Two apparently very similar tokens will bring far different prices based on background and historical value.  For example we will use two tokens of the bit denomination.  One will read “Covey’s Bar, Afton, Wyoming, good for 12 ½ cents in trade;” the other will read “The Buckhorn Saloon, San Antonio, Texas, good for 12 ½ cents in trade.”  They are of the same composition, are the same diameter, in about the same condition, and both saloons were in business at the same time.  However, the Buckhorn Saloon token will bring four or give times more than the Wyoming one due to the wide spread publicity the Buckhorn got.

Scarcity, is another factor contributing to a token’s price.  One used currently in Ellensburg, Washington, wouldn’t be worth as much as one from an Astoria, Oregon, concern that has been gone for seventy-five years.  There are only four or five tokens mentioned in this article with an accepted going price on today’s market.  D. M. Crowley, good for one drink at the bar, Lewiston, Montana; Reverse, racing stallion “Zodiac” is valued at $4.00.  white Elephant Saloon, Fort Worth, Texas is valued at $12.50.  Jules Bornefield, Palace Saloon, Austin, Texas; Reverse, race horse “Parole,” is valued at $10.00.  the Hudson’s Bay Token “Made Beaver” is valued from $10.00 to $16.00.  All of these are scarce.  Run of the mill ones showing town, state, and firm are worth from twenty cents to one dollar depending on age, location, and demand.

Military tokens, old transportation tokens, depotels from famous places are worth whatever a collector will pay.  Eventually, prices will become stabilized and uniform.  This hobby is more or less in its infancy, but it is growing.  There are over 1,00 members in the Token and Medal Society at present and most of us are busy doing research and digging out background information on particular town, firms, and areas.  They had a monetary system all their own, and it’s a fascinating aspect of Western Americana.

Return To Top

Return To The Stories