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Coin and Paper Money Collecting/1837 S.S.B. Hard times Token found in box.

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Expert: - 3/7/2010


Question

1837 SSB Token
Hi, my name is Bridget and for over 20 years I have had a ton of foreign coins and have them separated from my US coins.  I was going through them the other night and came across a weird little coin on the bottom of a box and remembered seeing it years ago. I handed it to my boyfriend who was on the internet and asked him to google the date and the only other writing on the coin which was 1837 with a large 8 and S.S.B. above it.  Much to our surprise it came up and on a couple of auction sights where a few in like and better condition sold from 1356.00 to 2400.00.  We called around town and even went in person to a coin dealer and a coin show and no one at any of them knew what it was. We really want to sell the coin which is actually a 1837 Hard times token but need to find collectors who would be interested in such a rare token. We just don't know how to best sell this token. I would like to get it certified but heard it is rather expensive and money is tight on our fixed incomes.  Any help in finding contacts that would be interested would be most appreciated. I have attached some pictures of it and hope they will help you give us your opinion and help.  Thanks so much, Bridget and Chris.

Answer
Hi Bridget:

Thanks for giving me the opportunity to answer your question.

I found several references to an "SSB" Hard Times Token, but with no photos, so was unable to verify that your piece is the exact type I found. One was identified as an  "Extremely Rare HT-464 in Brass. 1837-Dated. S.S.B. Token. Brass. NGC graded About Uncirculated-55 Brown, with an Estimated Value of $2,400 - $2,800. Another description, but with no estimate "LOW 139. S.S.B. HT 464. 19.5mm. Brass. R6. A most attractive defect-free Extremely Fine token. Obverse with S S B above, two leaves horizontally placed at center, 1837 in large numerals below. Reverse with four leaves in the form of a cross crossed by four very plain leaves."

There is also an active auction closing on March 20th with a Low 139 token. See: http://www.civilwartokens.com/hard_times_2.htm It is an EF token with a $1750 estimate.

You may find similar pieces on Ebay under coins in the exonumia category for comparison.

Your idea of getting it certified is a good one, and one that would likely give you a higher sell price. There are several firms that authenticate tokens. Each is unique, but either PCGS or NGC would likely be the better ones. I'll supply the links for you to review. You can contact them directly to establish their fees.  
See: http://www.pcgs.com/ or http://www.ngccoin.com/services/services.asp

You'd likely get the best price selling your piece at auction. Dealer fees vary, but usually run 15% to 20% of the selling price. If you were to sell the item outright to a dealer, you'd likely get 50% to 60% of the retail estimated price.

Here are several token dealers: EARLY AMERICAN HISTORY AUCTIONS, INC., P.O. Box 3507 • Rancho Santa Fe, CA 92067, (858) 759-3290 • Fax (858) 759-1439 e-Mail: Auctions@EarlyAmerican.com, website www.EarlyAmerican.com, and Heritage Auction Galleries, 3500 Maple Avenue, 17th Floor • Dallas, Texas 75219 Phone 214-528-3500 • 800-872-6467 HA.com/Coins • e-mail: Bid@HA.com, and finally, Presidential Coin %26 Antique Company, Post Office Box 277, Clifton, Virginia 20124,
H.Joseph Levine Phone (571) 321-2121 Fax (571) 321-0696 JLevine968@aol.com.

You should always get two or more estimates, and try and deal with PNG (Professional Numismatists Guild) dealers when possible. I'll list the link for you to check dealers near you.

To find a PNG dealer, see Link: http://www.pngdealers.com/dealersearch.php

Another way to sell would be on eBay, were you'd get a higher percent of the end sale price, but unless you set a reserve, the piece could go for less than it's estimated value. You need to review eBay fees and policies to decide if this is a way for you to go. See: http://pages.ebay.com/sellerinformation/index.html

Please remember to go to the experts site to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.  

Ronald Fern

Expertise

I can answer most all questions relating to US coins, tokens, and currency. I'm not strong on world coins or ancients. Primary field of expertise is errors and varieties. Over 55 years experience in coin collecting. Part time dealer since 1976. Employed by McDonnell Douglas/Boeing for over 34 years as an Industrial Engineer/Technical Specialist before retiring in 2002.

Experience

Worked weekends for "Lonesome" John in the late 1960's to mid 1970's processing error coins, packaging, and preparing orders. Worked with John Devine and Fred Weinberg on several California Error A Rama's in the early 1970's. Served as display judge at annual Error-A-Rama coin shows. Opened and operated mail order coin business DBA "CAL ERRORS" in 1976. Contributer to Alan Herbert's "Official Price Guide To Mint Errors" and Fivaz/Stanton "Cherrypickers' Guide". Worked Saturdays at Huntington Beach Coin Exchange 1980-1999. Had table and sold coins at a number of coin and gun shows in So CA, AZ and NV. Sell coins, tokens and currency currently at my space in the Pomona Antique Center. Past "Errorscope" Editor. Presently CONECA Examiner.

Organizations
ANA, CONECA, CWTS, NLG

Publications
Errorscope, Numismatic News, Civil War Token Journal, Error and Variety News

Education/Credentials
AA Degree LBCC pre Engineering, 1964 BS Degree CSULB Ind Technology, 1968

Awards and Honors
1st Place EAR Trophy for Civil War Token Errors, NLG Author of Year Award for best monthly coin column "Error News and Views" in small Numismatic paper, owned and published by Ray Anthony.

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