Token coin

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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.^[1]

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.