Trade tokens or barter tokens in Devizes, Wiltshire.

From the 17th to the early 19th century in the British Isles these trade or barter were commonly issued by merchants in times of acute shortage of coins of the state to enable trading activities to proceed. The token was in effect a pledge redeemable in goods but not necessarily for currency. These tokens never received official sanction from government but were accepted and circulated quite widely.

In England the production of copper farthings was permitted by royal license in the first few decades of the 17th century, but production ceased during the English Civil War and a great shortage of small change resulted. This shortage was felt more keenly because of the rapid growth of trade in the towns and cities, and this in turn prompted both local authorities and merchants to issue tokens.

Below is a trade token for Devizes; the top two are the same side but rotated by 180. The token was dug up in a Rowde allotment by A.E. Willis. This side has 3 cloves and Devizes and a date. too. %uFEFFDavid Algar is the Salisbury Museum's  numismatist and he has looked at the illustrations. He confirms that it is a17th century trade token with the Devizes castle - triple-towered with central gateway, and bailey wall. He confirms that the date is indeed 1652. He thinks that Gracie Naish was a grocer, as the cloves are traditionally associated with that trade

Left is the reverse side with an interesting Castle icon with 3 towers and a rear wall. It has an inscription Gracie Naish. Mr. Willis believes that Gracie Naish was a publican in Northgate Street. In the mid 17th century this token would have bought aquart of beer or aloaf of bread. It is interesting to speculate what the toke owner would have give to Gracie for this token, perhaps vegetables or meat? Note above that she was more likely to have been in the grocery trade.

This token was shown to Devizes Heritage by Paul Downs the owner who has allowed these photos to be taken.

These tokens were most commonly made of copper or brass, but pewter, lead and occasionally leather tokens are also found. Most were not given a specific denomination and were intended to pass as farthings, but there are also a large number of halfpenny and sometimes penny tokens. Halfpenny and penny tokens usually, but not always, bear the denomination on their face. These token had monetary value as well and could be spent in another shop. When that shopkeeper had a number of these token from customers he could redeem them for money from the "maker" / distributor of the token.

Below: Phil Underwood of London has kindly sent a photo of a John Fry hand farthing token dated 1664.

Below are two photos of a1796 Devizes token issued by J Baster of Devizes - a "fell monger" of Dunkirk Hill, Devizes. A fellmonger was a dealer in hides or skins, particularly sheepskins, who might also prepare skins for tanning. The name is derived from the Old English ‘fell’ meaning skins and ‘monger’ meaning dealer.The token was found by K Genever who kindly has allowed these two photos to be published. Note that the castle icon - the Borough Arms" is quite differnet to the 1652 token above. There is  stag on the reverse side.

Thousands of towns and merchants issued these tokens between 1648 and 1672, when official production of farthings resumed and private production was suppressed. Another period of coin shortage occurred in the late 18th century, when the British Royal Mint almost ceased production. Merchants once again produced tokens, but they were now machine made and typically larger than their 17th century predecessors with values of a halfpenny or more. While many were used in trade, they were also produced for advertising and political purposes. These were issued by merchants in payment for goods with the agreement that they will be redeemed in goods to an equivalent value at the merchants' own outlets. The transaction is therefore one of barter, with the tokens playing a role of convenience, allowing the seller to receive his goods at a rate and time convenient to himself and the merchant to tie the holder of the token coin to his shop. Trade tokens often change slowly and subtly into barter tokens over time, as evidenced by the continued circulation of former trade tokens when the need for their use had passed.