Medals and Tokens: Slightly off the beaten track is the area of medals and tokens. In difficult economic times governments are sometimes unable to meet the coinage needs of the population. This situation has lead to the private minting of tokens which are used to meet the need. Medals are often military or other decorations that are struck to honor a specific person or circumstance. Medals and tokens combined represent a branch of numismatics known as exonumia. It means the collection or study of coin-like objects, such as tokens and medals; however, the definition has been expanded to include similar non-coins. These are badges, counterstamped coins, dog tags, ribbons, political buttons, Civil War tokens, Hard Times tokens, military reunion items, slave badges, fraternal items, and US Mint and other mints’ medals. A token is an item with an exchange value that circulates as money, usually in a specific region. A medal is usually a round piece not intended for commerce. Most did not circulate and are found in mint or near-mint condition. A medallion is a large medal. A badge is usually an item worn on clothing with a top pin and a medal attached below. Tokens and medals represent a popular area of collecting items that have historical significance and value.

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