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.
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