Exploring Exonumia: The Fascinating World Beyond Coins
When most people think of numismatics, they picture coins and paper money. But there’s an entire branch of this field that delves into something a bit more obscure—and often more intriguing. Welcome to the world of exonumia.
Derived from the Greek words exo (outside) and nummus (coin), exonumia refers to currency-related items that aren't officially coins or banknotes. From trade tokens and medals to scrip and pressed pennies, exonumia offers a unique lens into history, culture, and economics.
A Brief History of Exonumia
Exonumia isn’t a modern trend—it has roots going back centuries. Many exonumic items emerged out of necessity, especially during times of political or economic upheaval.
Ancient Uses
As early as the Roman Empire, tokens were used for minor transactions and services like entry to public baths. Medals, such as the Roman bulla worn by children, had both protective and symbolic purposes.
Trade Tokens in the 18th & 19th Centuries
During industrialization, shortages of small denomination coins led businesses and municipalities to issue their own tokens. These were especially common in Europe and the U.S., serving as local currency and advertising tools.
Modern Collecting
Today, exonumia is a thriving field for collectors and historians alike. Items that were once everyday tools of commerce or protest now tell rich stories of the past.
Key Categories of Exonumia
Let’s dive into the major types of exonumic items that enthusiasts and historians find so captivating.
1. Tokens
Tokens are arguably the backbone of exonumia. They're issued by private entities and have served various roles:
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Trade Tokens – Used as substitutes for currency, often redeemable for goods or services.
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Transportation Tokens – Popular in the U.S. for buses and subways before digital systems took over.
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Advertising Tokens – Used by businesses to promote products, sometimes redeemable for discounts.
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Political Tokens – Distributed during election campaigns to promote candidates or causes.
2. Medals
Medals are more than awards—they’re works of art and history in metal form.
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Commemorative Medals – Celebrate events like royal coronations or architectural achievements.
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Military Medals – Honor service, valor, and sacrifice.
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Religious Medals – Often worn as talismans or symbols of faith.
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Award Medals – Given in recognition of achievements in sports, arts, science, and more.
3. Scrip
Scrip is unofficial paper money, typically issued by private entities during times of economic crisis.
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Company Scrip – Used in company towns to pay workers, redeemable only at company-owned stores.
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Municipal Scrip – Issued by local governments, especially during the Great Depression.
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Emergency Scrip – Circulated during wartime or monetary shortages.
4. Badges and Pins
Often worn, these items symbolize affiliation, participation, or accomplishment.
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Membership Badges – Denote belonging to organizations like fraternal orders or clubs.
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Event Badges – Created for conferences, exhibitions, and public gatherings.
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Achievement Badges – Recognize accomplishments in scouting, the military, or sports.
5. Elongated Coins
Also known as pressed pennies, these are coins that have been flattened and embossed with a new design.
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Souvenir Coins – Common at tourist attractions and amusement parks.
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Commemorative Coins – Created to mark events or milestones.
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Artistic Coins – Designed purely for artistic expression, often collected for their aesthetic value.
Why Exonumia Matters
Exonumia is more than a collecting hobby—it’s a window into society.
1. Economic Insights
Tokens and scrip tell us how communities adapted to coin shortages and crises. Civil War tokens in the U.S., for instance, filled gaps left by vanished small change.
2. Historical Commemoration
Medals and badges preserve key moments—like the Eiffel Tower's construction or the end of WWII—through detailed metal engravings.
3. Political and Social Expression
Political tokens, suffragette medals, and protest badges are reminders that exonumic items were often tools of advocacy and dissent.
4. Cultural Identity
From Native American trade tokens to fraternal organization badges, these artifacts reflect the values and identities of the people who used them.
Getting Started as a Collector
The Appeal
Exonumia’s diversity is a huge draw. Whether you’re into vintage transportation tokens or elaborate military medals, there’s a niche for every collector.
How to Begin
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Choose a Focus – Start with a specific category or era.
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Educate Yourself – Learn the history and value of items you're interested in.
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Connect with Others – Join numismatic or exonumic societies to share insights and attend auctions or shows.
Things to Consider
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Condition – Items in good shape are generally more valuable.
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Rarity – Scarce items command higher prices and collector interest.
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Provenance – An item's ownership history can add to its historical significance.
Research and Preservation
Documentation is key in this field. Maintaining records of where, when, and how you acquired your items helps preserve their stories—and their value.
Many collectors rely on historical catalogs, museum archives, and scholarly publications to research and verify their finds. Some even collaborate with historians or institutions for deeper insights.
Where to See Exonumia
Smithsonian Institution (Washington, D.C.)
Home to one of the world’s largest numismatic collections, including tokens, badges, and medals of historic importance.
American Numismatic Society (New York City)
A scholarly powerhouse with an extensive collection and educational programs for researchers and enthusiasts.
British Museum (London)
Boasts a rich collection of European trade tokens and commemorative medals, providing insights into centuries of British and global history.
Final Thoughts
Exonumia is proof that currency isn’t just about spending—it’s about storytelling. Whether you’re a history buff, a curious collector, or someone discovering this field for the first time, exonumia offers a tangible connection to the past through objects that once lived in people’s pockets, hands, or hearts.
So the next time you spot an old medal or token at a flea market, don’t just walk by. You might be holding a small piece of history in your hands.
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