Also, counters called jetons were used as small change without official blessing. These tokens circulated in nearby villages, where they were called 'Abbot's money'. Medieval English monasteries issued tokens to pay for services from outsiders. Their functions are not documented, but they appear to have been brothel tokens or possibly gaming tokens. In many instances, token coins have become obsolete due to the use of cash, payment cards, stored value cards or other electronic transactions.Ĭoin-like objects from the Roman Empire called spintriae have been interpreted as an early form of token. A token coin has a narrower utility and is issued by a private entity. Ī legal tender coin is issued by a governmental authority and is freely exchangeable for goods. They are often made of cheaper metals like copper, pewter, aluminium, brass and tin, or non-metals like bakelite, leather and porcelain. Their denomination is shown or implied by size, color or shape. The field of token coins is part of exonumia and token coins are token money. In numismatics, token coins or trade tokens are coin-like objects used instead of coins.
