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Be careful since the novelty toy penny may indeed actually be a token. Token were used all the way back to the 1770's in Boston, New York, and Philadelphia as a form of money by merchants.

If you shopped at a merchant's business and then they wanted to give you a fair-trade coin they made to allow you to buy future goods from them. They often gave a discount for using one of their tokens. The tokens have no intrinsic value other than that value assigned by the merchant of the time.

Modern day finds of these tokens can be worth $10 to $10,000 depending on who the merchant was or who the merchant became. If the business is still in business today under a modern name, then this token may be worth the high-end value.

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15y ago

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