Privately issued token penny, 1848

Tokens were privately issued coins manufactured and distributed by merchants. They were made throughout Australia because of a severe shortage of small change from 1848 till 1873. This was the first issue, made for a Melbourne grocer, Annand, Smith and Co., in 1848. Although the token is not dated, researchers have discovered the order for their manufacture in Birmingham, England, so we know they were issued before the great population boom of the gold rush.

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Obverse – The legend ANNAND, SMITH & Co. GROCERS MELBOURNE.		Reverse – A seated Britannia, looking similar to the then current reverse of a British penny. This reverse is actually from a die used for the official penny in the early 1800s. Above the seated figure is the word BRITANNIA.

Donated by George McArthur, 1903