One penny token, Stafford

Description:A copper one penny token issued by Stafford shoe manufacturer William Horton in 1801.

William Horton (1750 - 1832) was born in Stafford and was one of the first to manufacture shoes on a large scale, employing over 1,000 workers. His home was Chetwynd House on Greengate (later the main Post Office) and his workshops and warehouse were situated at the rear of the house. Richard Brinsley Sheridan (playwright, and M.P. for Stafford, 1780 - 1807) was a friend of Horton's and often stayed with him at Chetwynd House.

Token coins such as this were issued by businesses and other organisations when official coinage was in short supply. In theory, tokens would circulate only where their issuer was known or trusted, but in practice trade tokens were circulated widely and used in exactly the same way as official coinage. There was an upsurge in the production of token coinage between 1787 and 1803 as the rapid industrialization of Britain and later the effect of the Napoleonic Wars led to shortages of small denominations. Token coinage from this period is usually of a high quality.

Stafford one penny token. Copper.
Obverse: 'W.H. / PENNY'
Reverse: 'STAFFORD 1801'. Castle with three turrets, four lions.
On rim: 'PAYABLE BY HORTON AND COMPANY'.