Some Rare P.E.I. Tokens.
by Robert C. Willey

(Reprinted from “Colonial Coinages of Canada”, C.N.J. 1979-83 – [Nov., 1979 number]. Catalogue numbers as per Willey.  Used by permission.)

VIII. Local Tokens of Prince Edward Island.

    Prince Edward Island’s only local pennies were crudely made blanks stamped with initials at some time in the middle of the nineteenth century.

236. The letters P.E.I incuse in Roman capitals, stamped across the centre, with no period after the I.  Rev. – blank.  Rarity 10.

    This piece was issued as a penny token by Peter McAusland, who lived on the island of Rustico. Peter McAusland was a prosperous farmer and fisherman who owned the island of Rustico. He sold provisions to the Acadian residents of the island. His pennies are crude and extremely variable in weight. The specimen illustrated weighs only 125 grains, which is so light that it is hard to believe that it would be taken as a penny even by the depreciated standard of the local currency.

237. The letters DMC in incuse Roman capitals , stamped across the centre. Rev. – blank.  Rarity 10.

    This piece is said to have been issued by Dennis McCarthy, a tinsmith of Charlottetown, to buy beer.

237a.  The letters DMC above the letters P.E.I all incuse Roman capitals, stamped across the centre. Rev. blank. Possibly unique.

    This piece first came to notice over fifty years ago, when a specimen was listed in the W.W.C. Wilson Sale. A specimen was offered in 1976 in the McKay-Clements Sale.

 

238. A sheaf of wheat and a sickle. PRINCE EDWARD’S ISLAND HALF PENNY; date 1840 below. Rev.: A plough, COMMERCE & TRADE; an ornament below. 108 grains. Breton 916; Courteau 3 PEI. Rarity 9.

Illustration approx. 1½x

 

    Most specimens are rather carelessly struck and in relatively poor condition, mediocre at best. The A.N.S., however, has a specimen in exceptionally fine condition.

    Local tokens were first issued in Charlottetown in 1840. Most were struck at about 90 to the pound, or 77.7 grains, but some were heavier. The first is the halfpenny of James Milner (#238 above), who imported the dies and presses from the United States, with the permission of the colonial government. A very small number were struck, evidently rather poorly, and the equipment was eventually sold for scrap metal.

 

Wayne Jacobs is numismatic expert. He is the award winning author of numerous articles. He is the secretary and editor of the "Mid-Island Coin Club Numismatic Journal"of Nanaimo, Vancouver Island , British Columbia. The MICC journal are hosted here: MICC webpages Copyright 2006 Wayne Jacobs. This article may be reprinted freely for non commercial purpose only if the resource box is left intact, linking back to us.