Token Coin
In the study of numismatics, tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used in place of coins and either have a denomination shown or implied by size, color or shape. "Tokens" are often made of cheaper metals: copper, pewter, aluminium, brass and tin were commonly used, while bakelite, leather, porcelain, and other less durable materials are also known.
The key point of difference between a token and a coin is that a coin is issued by a governmental local or national authority and is freely exchangeable for goods or other coins, whereas a token has a much more limited use and is often (but not always) issued by a private company, group, association or individual.
In the case of "currency tokens" issued by a company but also recognized by the State there is a convergence between tokens and currency.
Read more about Token Coin: Currency Tokens, Trade Tokens or Barter Tokens, Slot Machine Tokens, Staff Tokens, Other Sources of Tokens, See Also, References and Sources
Famous quotes containing the words token and/or coin:
““With the gracious consent of the audience, you will be made to don the red tophat”Ma token phrase that the courts had evolved, whose true meaning was known to every schoolboy.”
—Vladimir Nabokov (1899–1977)
“The moral equalizes all; enriches, empowers all. It is the coin which buys all, and which all find in their pocket. Under the whip of the driver, the slave shall feel his equality with saints and heroes.”
—Ralph Waldo Emerson (1803–1882)