Valentine's Day is a happy time when people show their devotion to
one another. Since coin collecting covers just about every other
aspect of human endeavor, we'll focus on how it covers romance too.
Many
modern coins depict cherubs and other design devices that allude to
romance, but nowhere else can you get the impact of romance on
numismatics as you can with "love tokens."
A love
token isn't really a token. It is a coin that has been defaced by
planing down and engraving one or both sides. In the European
tradition, which began in the 17th century, such items are simply
called "engraved coins." Leave it to the Americans to give them a
fancy name.
Love
tokens didn't become popular in the United States until about the
time of the Civil War. By the turn of the century, the custom was
waning.
Most
American love tokens you'll encounter will have the initials of a
person, sometimes a name or a message. A few will have an ornate
depiction of some object or symbol, such as a bird or a heart.
In the
American tradition, the love token was given to a sweetheart as a
token to be carried at all times. In the U.S. Mint tradition, love
tokens were blamed for a shortage of dimes, since this is the most
commonly encountered coin turned into a love token. (The U.S. Mint
has been in the habit of blaming coin collectors for hoarding coins
almost every time there is a coin shortage.)
Coins
were planed and engraved, then made into pins, earrings, necklaces,
bracelets, stick pins and cufflinks, in addition to being made into
pocket-piece love tokens.
There is
nothing to stop someone from making his or her own love token today.
However, if you were fortunate enough to find someone with the
patience, talent and desire to make one for you, it would probably
be machine engraved. The collectible 19th century U.S. love tokens
are all engraved by hand.
Love
tokens were typically made from Seated Liberty dimes. Other dime
type designs were also used as the host for such defacings, as well
as denominations of other coins. As a result, these coins are much
rarer and in higher demand among collectors.
Love
tokens are known to be made from half dimes, quarters, silver
dollars, gold dollars, gold $2.50 quarter eagles and even $20 double
eagles. They probably are made from just about every denomination
available.
One
factor in the desirability of the piece is the denomination selected
for the love token. Another important factor is the ornateness of
the artwork involved. The more detailed and fancy the engraving, the
more desirable the love token.
People
collect love tokens with specific names, specific initials or just
by whatever happens to tickle their fancy.
Like
anything else in the numismatic hobby, there is a club --The Love
Token Society. The LTS states love tokens must be made from coins
from circulation and must be hand engraved to meet their definition.
Are they
expensive, you ask? Most love tokens made from a Seated Liberty dime
sell for perhaps $10 each, not exactly the sort of collectible that
will break the bank. The fancier the piece, the more it may cost.
Looking
for that special numismatic gift for Valentine's Day to prove to
your loved one once and for all you are a totally deranged
collector? I think you've found it.
Richard Giedroyc
is a numismatic writer, researcher, auction cataloger and coin
dealer. He has been in the hobby and business most of his life, now
having more than three decades’ experience in this fascinating hobby
field. During this time Giedroyc has been the owner of Paris Bergman
Galleries, owner of Classical Coin Newsletter, international
editor of Coin World and owner of Giedroyc-Anderson
Interesting World Coins. He is currently a numismatic consultant. He
has written more than 2,000 byline numismatic stories and
contributed to several coin catalogs.
