Preliminary identification
Photo reference
2 uploaded photos
Overview
This is a brass, center-holed merchant trade token issued by 'The Eagle' in Clear Lake, Iowa, valued at 5 cents in trade. These tokens served as local currency, often used in saloons, billiard halls, or general stores to secure repeat business and keep cash within the establishment.
Story
Saloons in early 1900s Iowa used these brass tokens to ensure change from a purchase was spent right back at their bar. The central hole allowed bartenders to string them together or hang them on a spindle for quick counting during busy shifts.
Maker / Origin
While the specific die-sinker who struck this token is unmarked, major manufacturers like Brunswick-Balke-Collender or local Chicago stamp works produced these custom brass pieces for small-town establishments across the Midwest.
Condition & Value
The token shows a natural, dark mustard-brown brass patina with minor surface dirt and light wear to the high points of the lettering. There are no major gouges or bends, which keeps its appeal high for exonumia collectors. Value for regional trade tokens is driven heavily by town population and rarity.
Full Research
Sold comps, value drivers, and venue guidance pulled from recent auction results.
Build on this identification
Layer in sold comps, value drivers, and venue guidance.
Comparable demand stays strongest where maker, originality, and venue confidence line up. Broader examples still trade, but the range tightens quickly when provenance, condition, or selling lane fit is missing.
Best Venue
Specialty auction or a focused dealer with buyers already in this lane.
Signed example with light edge wear and original frame.
Comparable format with stronger provenance and cleaner surface.
Smaller related piece with visible craquelure and trimmed margins.
Period match with softer condition and weaker subject matter.
Close market lane comp with similar material and presentation.