Trade Tokens of St Ives

Trade Tokens of St Ives

Talk given to the Huntingdonshire Local History Society by Dr J M Rolfe, a member, on Friday 23 November 1984.

Collection of trade tokens from St Neots 1664 to 1668

At certain times, in order to satisfy a need for small change and to facilitate trading, some tradesmen used to manufacture their own 'coins'. Though of no official value, these trade tokens were accepted locally where tradesmen were known and respected. Only coins of low denomination were made in this way and were of copper, brass or lead. Three main reasons are adduced for the shortage of official coins of low value, these being Royal objection to being portrayed on a coin of base metal, the excessive costs of manufacturing and distributing large quantities of such coins and the small demand for them by the nobility and gentry.

There were three short periods, in the 17th, 18th and 19th centuries, when such tokens were produced in great numbers in Britain. In the first, between 1648 and 1672, tokens, mainly farthings, were issues towards the end of the reign of Charles I and, in great number, during the Commonwealth. This was when St Ives tokens were issued, the earliest known being dated 1657 and the latest 1669. In the second period, between 1788 and 1797, the tokens, mainly half-pennies, were produced by power presses rather than laboriously by hand and were generally of a much better quality. The third period was from 1811 to 1817, the period of the Napoleonic Wars, and these tokens were mainly pennies.

The production of such tokens to meet the needs of local traders resulted in a wide variety of designs, and some of them were accepted only in very limited areas. John Evelyn wrote in 1697 of conditions in London, where 'tokens which every taverne and tippling house presumed to stamp and utter for immediate exchange, as they were payable through the neighbourhood, which though seldom reaching further than the next street or two...'. And Edmund Pettis, in his survey of St Ives in 1728, wrote '1672 King Charles II put forth copper half pence and farthings which were made near the intrinsic value of the metal. Before this the town officers, grocers and innkeepers and almost anyone stamped copper and brass and made farthings and half pennies. They were very little nor would pass anywhere but near home. When the King's came out all these light stuff were put down and their makers obliged to change them for gold. So was all England over'.

It is interesting to find that, according to the standard work on 17th century tokens (Boyne 1858, revised by Williamson 1889/91) 19 different St Ives tokens are recorded. This number is confirmed by a modern catalogue which shows that of the 75 issued in the County of Huntingdon, 19 were from St Ives. Ramsey, St Neots and Eynesbury each produced 8 and Huntingdon only 5. This indicates the continuing importance of St Ives as a busy market town.

Herbert Norris, in his History of St Ives, also quotes 75 issued in the County of Huntingdon, but attributes 28 to St Ives. It is possible that he included the 9 such tokens usually credited to St Ives in Cornwall. Without further investigation into records showing families trading in the towns at that time it is not possible to allocate these with certainty. Three of them, however, issued by Martin Pratt, Edward Rabie and Thomas Reuse, all innkeepers, bear the legend 'In St Ives the County of Huntingdon'. Unfortunately the token of 'William Harrison of St Ives' issued in 1657 (one of which, held by Bill Harrison's family, was dug up in Bible Orchard here, the site of the County Library) lacks that precision and is claimed for a Cornish token. One can only say that that claim is Not Proven.

This particular token gives no indication of the trade of the merchant by whom it was issued. It was usual however for such tokens to show a pictorial emblem of the issuer's trade, often in the form of the arms of the appropriate Merchants' Guild. Guilds represented on St Ives tokens included the Grocers' Company, the Haberdashers', the Salters', the Tallowchandlers' and the Vintners'. Alehouses, inn and tavern-keepers often issued tokens bearing designs representing the names of their establishments. For example, the 'Crown' issued by Thomas Fillbee and also by Edward Rable, the 'Angel' by Martin Pratt, and the 'George and Dragon' by Thomas Reuse. The token issued by Thomas Stocker shows a dolphin, which may indicate that he was the keeper of the Dolphin Inn, but in mediaeval times the dolphin was adopted as a symbol by fishmongers, so without further research there can be no certainty which was his trade.

One other St Ives token of special interest is that issued on behalf of the town by the Overseers of the Poor. This was produced in 1669 in both farthing and halfpenny sizes. It served not only to provide small change but also to be given as alms to the poor for the purchase of bread and ale. Its design shows two poor women washing at tub. A similar token issued in St Neots shows two women making lace.

So much has already been discovered about the history of these tokens, but much is still uncertain. Further research into local records should prove interesting and rewarding!