The 1794 Franklin Press Token belongs to a series of British-made pieces known as "Conder" Tokens (Halfpenny- and Penny-sized tokens made for sale to collectors and sometimes used as advertising tokens by certain merchants). Although the Franklin Press Tokens probably never circulated in America, collectors have included them as a U.S. "Colonial" coin because of the reference to the American patriot and statesman, Benjamin Franklin.

The printing press illustrated on the front of this token is believed to be the same press used by Franklin while he worked in London, England as a journeyman printer for the firm of Mr. Watts of Wild street, Lincoln's Sun-Fields. The press appears to be a Blaew press (the first patent press made beginning in 1620). The "Franklin Press" (as it is now known) is on display as part of a re-created post office and print shop of the early 19th century in the Printing and Graphic Arts section of the National Museum of American History at the Smithsonian Institution.

This variety has a diagonally reeded edge. Both Breen (1988) and Bowers (2009) believe this variety to be unique. The only auction appearance for this coin was in the January 2005 sale of the John J. Ford, Jr. Collection.