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Medals and Tokens

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Tokens

 

While not technically coins as they have no face value, tokens are vouchers for goods or services of some sort. They are typically issued by a private organization with the intent to be redeemed by goods or services from that organization. While the only ones used in modern society are typically found in arcades, they had great historical use. Many were issued during the Civil War and also from 1833 to 1843 when America fell on hard times.

 

Medals

 

Like tokens, medals are not legal tender and bear no denomination. Unlike tokens, medals are issued to be traded only as commemoratives or awards. A well-known example are Olympic medals, and their function as awards from the Olympic committee. Medals have actually been issued as far back as the Ancient Greeks, but they are also issued by modern governments in order to commemorate someone or something. The U.S. government has issued a number of commemorative medals for presidents and other unique subjects over the centuries. The China Mint commonly issues Panda Medals for coin shows around the world.