It's incredible that a business decision in the 1920s by our great uncle could show up all these years later on ebay, huh? John and Ket Hesch used these trade coins to pay farmers for butter, eggs, and produce that townies needed. It was a good workable system, and brought the farmer back to the Hesch store. Just think--this very coin most likely passed thru the pocket of YOUR grandma.
From the Wiki page on token coins:
These were issued by merchants in payment for goods with the agreement that they will be redeemed in goods to an equivalent value at the merchants' own outlets. The transaction is therefore one of barter, with the tokens playing a role of convenience, allowing the seller to receive his goods at a rate and time convenient to himself and the merchant to tie the holder of the token coin to his shop.
This was an online sale from November 2011 for one of John's tokens.
Scroll down to see what was paid for it ☺
(I can imagine that resigned Hesch head-shake, can't you?)
THANKS, LARRY! ☺