Halfpenny Token 1846 Rutherford Brothers, Coin from Newfoundland - detailed information

This coin was issued in Newfoundland.

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Newfoundland, like other parts of British North America, suffered from a chronic shortage of small denomination coins during much of its early history. The British government made no effort to provide a local currency and the islanders had to make do with an insufficient supply of badly worn foreign coins. Finally, as had happened elsewhere, the local merchants decided to take matters into their own hands. The first to do so were the Rutherfords, who operated a store in St. John's under the name of R. & I. S. Rutherford and another in Harbour Grace under the name of Rutherford Bros. Three tokens of similar designs were issued, all with a nominal value of a halfpenny. Two were for use in St. John's, one with no date and the other dated 1841 and a third, dated 1846, for use at Harbour Grace.Newfoundland. Rutherford Brothers Halfpenny Token. 1846.