Object Name: Token
Object ID: 2014.006
Place of Origin: Portsmouth, NH
Date: 1837
Description: "Hard Times" token, 1837. Copper. Obverse: "NATHl. MARCH / BOOKSELLER & / STATIONER / No. 7 EXCHANGE / BUILDINGS / PORTSMOUTH / N.H. / 1837. Reverse: "WILLIAM SIMES & Co. / DEALERS IN / TEAS, WINES, & / GROCERIES. / No. 1 PEIRCE'S / BUILDINGS / PORTSMOUTH / N.H." 1.1" diam.
Material: Metal
Copper
Dimensions: Dia-1.1 inches
Provenance: Hard-times tokens are large cent-sized tokens, struck in copper from about 1833 through 1843, serving as unofficial currency in the United States. These privately made pieces, comprising merchant, political and satirical pieces, were used during a time of political and financial crisis in the United States. In an effort to stop inflation and speculation in public lands, President Andrew Jackson and his Treasury secretary, Levi Woodbury of New Hampshire, issued the Specie Circular which stated that as of August 15, 1836, banks and others who received public money were required to accept only gold and silver coins in payment for public lands. The circular set into motion a panic, and the public began hoarding specie. Without specie to pay out, banks and merchants began having financial troubles. It wasn't too long before the effects of Jackson's decision were felt across the nation as banks and businesses failed, and a depression ensued, know as "Hard Times."
Nathaniel March, born June 14, 1807, son of Nathaniel B. and Sarah H. (Drisco) March of Portsmouth. March was a bookseller and publisher in Portsmouth working from 1838 through his death on July 18, 1846.
William Simes, born April 9, 1806, son of George and Nancy Simes of Portsmouth. William Simes & Co. operated as dry goods merchants from 1837 through 1851 in Portsmouth. Simes died May 15, 1880.
Credit Line: New Hampshire Historical Society Purchase, with funds provided by Q. David Bowers
People:
March, Nathaniel (1807-1846),
Simes, William (1806-1880)