Token coin

They are often made of cheaper metals like copper, pewter, aluminium, brass and tin, or non-metals like bakelite, leather and porcelain.

This shortage was felt more keenly because of the rapid growth of trade in the towns and cities, and this in turn prompted both local authorities and merchants to issue tokens.

Merchants once again produced tokens, but they were then machine made and typically larger than their 17th century predecessors, with values of a halfpenny or more.

Generally, they have a merchant's name or initials, sometimes a town and state, and a value legend (such as "good for 5¢" or other denomination) somewhere on the token.

The era of 1870 through 1920 marked the highest use of "trade tokens" in the United States, spurred by the proliferation of small stores in rural areas.

Wooden nickels, another type of token, were usually issued by a merchant or bank as a promotion, sometimes redeemable for a specific item.

Metal token coins are used in lieu of cash in some coin-operated arcade games and casino slot machines.

The Nevada State Gaming Control Board consulted with the U.S. Treasury, and casinos were soon allowed to start using their own tokens to operate their slot machines.

When that coin was replaced with the Susan B. Anthony dollar in 1979, most casinos reinstituted tokens, fearing confusion with quarters and not wishing to extensively retool their slot machines.

Tokens are being phased out by many casinos in favor of coinless machines which accept banknotes and print receipts for payout.