What is Exonumia?
Exonumia was defined by the Token and Medal Society (TAMS) founding member, Russell Rulau in 1960. It refers to collectible items other than coins or paper money, as medals or tokens. Most collectors expand that definition to include a wide range of items defined below.
What is a token?
Strictly defined, a token is any substitute for the money issued by governments. The most common form of token is a metal disc, similar to a coin, on which is inscribed the value and the issuer. In theory, tokens were redeemable only by the issuer, but some were accepted widely and often circulated just as coins. In practice, many other items, such as advertising pieces, are also called tokens as opposed to medals.
Why were tokens issued?
Initially, tokens were made to compensate for shortages of coins in circulation. As specific needs arose, tokens were found to be effective even when there was no lack of circulating coins.
How are tokens collected?
Given the wide variety of tokens, collectors tend to specialise by type, geographical area, or other subdivisions. For instance, a collector of trade tokens may just collect those from one state, or by one particular type of issuing business (e.g. General Store, Saloon, or Billiard Hall). Some may have a collection of wooden nickels representing one from each state while others may try to collect every variety known from a single restaurant chain. The way tokens are collected is an individual choice – that contributes to the interest!
We have a wealth of knowledge regarding tokens and stock a wide range of them on our online shop. So why not contact us today and we will be more than happy to answer your questions.
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Original article source: http://www.tokenandmedal.org/FAQ/FAQ.html