This famous unique civil war merchant token has been in some of the world's finest numismatic collections. It's pedigree includes Steve Tannenbaum, John Ford, F.C.C. Boyd, Abe Kosoff and the Gutag Brothers.
Civil War tokens were privately issued emergency money produced in 1862 during the Civil War to circulate in place of federal coinage. Federal coinage was hoarded as quickly as it was struck and placed into circulation. During the early years of the war, all federal coinage was withdrawn from circulation by the public because of concerns about the war and as federal paper money lost value compared to the value of coins.
The following is from J.H. French's 1860 Gazatteer of the State of New York:
"The principle market for wholesale is the Washington Market (at Fulton Street and the Hudson River)..."
Fuld lists it in it's reference book as R-10 (Unique) in white metal with this reverse. It is a fascinating numismatic artifact from the Civil War era that is unique and pedigreed to the finest collections.