Token coin in the context of "Stored-value card"

Play Trivia Questions online!

or

Skip to study material about Token coin in the context of "Stored-value card"

Ad spacer

⭐ Core Definition: Token coin

In numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of token coins is part of exonumia and token coins are token money. Their denomination is shown or implied by size, color or shape. They are often made of cheaper metals like copper, pewter, aluminium, brass and tin, or non-metals like bakelite, leather and porcelain.

A legal tender coin is issued by a governmental authority and is freely exchangeable for goods. A token coin has a narrower utility and is issued by a private entity. In many instances, token coins have become obsolete due to the use of cash, payment cards, stored value cards or other electronic transactions.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<

👉 Token coin in the context of Stored-value card

A stored-value card (SVC) or cash card is a payment card with a monetary value stored on the card itself, not in an external account maintained by a financial institution. This means no network access is required by the payment collection terminals as funds can be withdrawn and deposited straight from the card. Like cash, payment cards can be used anonymously as the person holding the card can use the funds. They are an electronic development of token coins and are typically used in low-value payment systems or where network access is difficult or expensive to implement, such as parking machines, public transport systems, and closed payment systems in locations such as ships.

Stored-value cards differ from debit cards, where money is on deposit with the issuer, and credit cards which are subject to credit limits set by the issuer and are connected to accounts at financial institutions. Another difference between stored-value cards and debit and credit cards is that debit and credit cards are usually issued in the name of individual account holders, while stored-value cards may be anonymous, as in the case of gift cards. Stored-value cards are prepaid money cards and may be disposed when the value is used, or the card value may be topped up, as in the case of telephone calling cards or when used as a fare card.

↓ Explore More Topics
In this Dossier

Token coin in the context of Billon (alloy)

Billon (/ˈbɪlən/) is an alloy of a precious metal (most commonly silver, but also gold) with a majority base metal content (such as copper). It is used chiefly for making coins, medals, and token coins.

The word comes from the French bille, which means 'log'.

↑ Return to Menu

Token coin in the context of Exonumia

Exonumia are numismatic items (such as tokens, medals, or scrip) 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. It is an aspect of numismatics and many coin collectors are also exonumists.

Besides the above strict definition, others extend it to include non-coins which may or may not be legal tenders such as cheques, credit cards and similar paper. These can also be considered notaphily or scripophily.

↑ Return to Menu

Token coin in the context of American Numismatic Society

The American Numismatic Society (ANS) is a New York City-based organization dedicated to the study of coins, money, medals, tokens, and related objects. Founded in 1858, it is the only American museum devoted exclusively to their preservation and study. Its collection encompasses nearly one million items, including medals and paper money, as well as the world's most comprehensive library of numismatic literature. Dr. Ute Wartenberg served as the executive director for two decades and was succeeded in this role by Dr. Gilles Bransbourg; she served as Research Curator and President of the Society before returning to the executive position in 2024.

↑ Return to Menu

Token coin in the context of Scrip

A scrip (or chit in India) is any substitute for legal tender. It is often a form of credit. Scrips have been created and used for a variety of reasons, including exploitative payment of employees under truck systems; or for use in local commerce at times when regular currency was unavailable, for example in remote coal towns, military bases, ships on long voyages, or occupied countries in wartime. Besides company scrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs, arcade tokens and tickets, and points on some credit cards.

Scrips have gained historical importance and become a subject of study in numismatics and exonumia due to their wide variety and recurring use. Scrip behaves similarly to a currency, and as such can be used to study monetary economics.

↑ Return to Menu

Token coin in the context of Poker chip

Casino chips (also known as poker chips, gaming tokens, or checks/cheques) are small discs used as currency in casinos. Larger, rectangular gaming plaques may be used for high-stakes games. Poker chips are also widely used as play money in casual or tournament games, are of numismatic value to casino chip collectors, or may be kept as souvenirs.

Chips and plaques used in table games may be made of a mixture of metal, clay, ceramic, and plastic materials inlayed or painted with colors and numbers indicating various denominations, while metal token coins are used primarily in slot machines. Some casinos embed RFID tags into chips to collect data and fight counterfeiting, and plaques may have printed serial numbers.

↑ Return to Menu

Token coin in the context of Wooden nickel

In the United States, a wooden nickel is a wooden token coin, usually issued by a merchant or bank as a promotion, sometimes redeemable for a specific item such as a drink.

Scrip and tokens have often been issued locally in times of severe economic distress such as financial crises and the American Civil War. During the Great Depression, after the failure of the Citizens Bank of Tenino in Tenino, Washington, the local Chamber of Commerce teamed up with the local newspaper to issue scrip equivalent to 25% of people's bank deposits that could be spent at local merchants. Blaine, Washington, soon did the same with both flat scrip and, in response to requests generated by news and word of mouth, coins that included a 5-cent piece. The Chicago World's Fair in 1933 issued wooden nickels as souvenirs, and the tradition of wooden nickels as tokens and souvenirs continues to the present day.

↑ Return to Menu