Pub token
Encyclopedia
Pub tokens or bar tokens or chit
s (United States usage) are a form of exonumia
used in drinking establishments.
s sometimes issued tokens
which could be used in payment for future drinks. These tokens were sometimes used in small, family bars where patrons knew each other. They were also used in saloons and hotel bars. When buying a round of drinks for friends, the bartender would give a token to those patrons already having a drink, and collect the full sum from the round-buyer. The owner would collect immediately, and the drinkers would have a token for later use. As the token cost less to produce than the value of the drink, there was a significant profit to the bar owner. Sometimes, drinkers would take the token home, and forget to bring them back. This has been cited as the reason bar owners loved tokens, and they were found in virtually every drinking establishment.
Tokens were also used as change, where the price of the drink was odd. For example, in America for many years, drinks were two for 25 cents
, or one bit
(12.5 cents
) each. Thus tokens exist with one-bit denominations
.
The early tokens were usually made of brass
or aluminum and would have the name or initials of the pub on them, so that they could not be used anywhere else. Often, they had the landlord's name on them as well. This ensured that, when the pub changed hands, the new landlord would not have to honor old tokens. Many small, family bars still use tokens today, but modern tokens are generally made of plastic (brass and aluminum tokens are still made, but as they are more expensive, are less used). Many tokens only had names or initials, and are known as mavericks, as their location is often unknown. Token researchers spend many hours attempting to identify maverick tokens to a specific location, as attributed tokens are therefore desired by collectors of that town. Unidentified maverick tokens are worth minimal sums, where some identified tokens can be worth up to hundreds of dollars.
Books on pub or bar tokens are generally by country or state. Not all states have been researched, and some state catalogs are out of print.
Voucher
A voucher is a bond which is worth a certain monetary value and which may be spent only for specific reasons or on specific goods. Examples include housing, travel, and food vouchers...
s (United States usage) are a form of exonumia
Exonumia
Exonumia are numismatic items other than coins and paper money. This includes "Good For" tokens, badges, counterstamped coins, elongated coins, encased coins, souvenir medallions, tags, wooden nickels and other similar items...
used in drinking establishments.
Usage
In both the UK and the US, during the 18th to 20th centuries, public housePublic house
A public house, informally known as a pub, is a drinking establishment fundamental to the culture of Britain, Ireland, Australia and New Zealand. There are approximately 53,500 public houses in the United Kingdom. This number has been declining every year, so that nearly half of the smaller...
s sometimes issued tokens
Token coin
In the study of numismatics, tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia. Tokens are used in place of coins and either have a denomination shown or implied by size, color or shape...
which could be used in payment for future drinks. These tokens were sometimes used in small, family bars where patrons knew each other. They were also used in saloons and hotel bars. When buying a round of drinks for friends, the bartender would give a token to those patrons already having a drink, and collect the full sum from the round-buyer. The owner would collect immediately, and the drinkers would have a token for later use. As the token cost less to produce than the value of the drink, there was a significant profit to the bar owner. Sometimes, drinkers would take the token home, and forget to bring them back. This has been cited as the reason bar owners loved tokens, and they were found in virtually every drinking establishment.
Tokens were also used as change, where the price of the drink was odd. For example, in America for many years, drinks were two for 25 cents
Quarter (United States coin)
A quarter dollar, commonly shortened to quarter, is a coin worth ¼ of a United States dollar, or 25 cents. The quarter has been produced since 1796. The choice of 25¢ as a denomination, as opposed to 20¢ which is more common in other parts of the world, originated with the practice of dividing...
, or one bit
Two Bits
Two Bits is an American drama film. It was directed by James Foley, and stars Al Pacino, Mary Elizabeth Mastrantonio, and Jerry Barone. It was released on November 22, 1995.The title refers to the American slang term two bits for a quarter dollar....
(12.5 cents
Cent (currency)
In many national currencies, the cent is a monetary unit that equals 1⁄100 of the basic monetary unit. Etymologically, the word cent derives from the Latin word "centum" meaning hundred. Cent also refers to a coin which is worth one cent....
) each. Thus tokens exist with one-bit denominations
Denomination (currency)
Denomination is a proper description of a currency amount, usually for coins or banknotes. Denominations may also be used with other means of payment like gift cards. See also Redenomination.-Subunit and super unit:...
.
The early tokens were usually made of brass
Brass
Brass is an alloy of copper and zinc; the proportions of zinc and copper can be varied to create a range of brasses with varying properties.In comparison, bronze is principally an alloy of copper and tin...
or aluminum and would have the name or initials of the pub on them, so that they could not be used anywhere else. Often, they had the landlord's name on them as well. This ensured that, when the pub changed hands, the new landlord would not have to honor old tokens. Many small, family bars still use tokens today, but modern tokens are generally made of plastic (brass and aluminum tokens are still made, but as they are more expensive, are less used). Many tokens only had names or initials, and are known as mavericks, as their location is often unknown. Token researchers spend many hours attempting to identify maverick tokens to a specific location, as attributed tokens are therefore desired by collectors of that town. Unidentified maverick tokens are worth minimal sums, where some identified tokens can be worth up to hundreds of dollars.
Books on pub or bar tokens are generally by country or state. Not all states have been researched, and some state catalogs are out of print.