This listing is for the photographed 1837 Hard Times Token. Prior Corrosion (which is why this coin is lower in price).
Hard-times tokens are American large or half cent-sized copper tokens, struck from about 1833 through 1843, serving as unofficial currency. These privately made pieces, comprising merchant, political and satirical pieces, were used during a time of political and financial crisis in the United States.
The Panic of 1837 was a financial crisis in the United States that touched off a major depression, which lasted until the mid-1840s. Profits, prices, and wages went down, westward expansion was stalled, unemployment went up, and pessimism abounded.
1837 Hard Times Token - XF (Extremely Fine) Details with Prior Corrosion - 1837 Hard Times Token Millions for Defense Not One Cent 1837