Preliminary identification

The Eagle Clear Lake Brass Trade Tokens, 'Good For 5¢ In Trade'

Photo reference

1 uploaded photo

Overview

This is a set of four vintage brass trade tokens featuring a distinctive central hole, issued by an establishment named 'The Eagle' in Clear Lake. The obverse reads 'THE EAGLE / CLEAR LAKE' and the reverse reads 'GOOD FOR 5¢ IN TRADE' with small decorative cross accents. These pieces served as local merchant currency, offering a fascinating glimpse into the micro-economies of early 20th-century American towns.

Story

In the early 1900s, Clear Lake, Iowa, was a bustling resort town where local merchants issued their own brass coinage. These tokens kept customers loyal to 'The Eagle'—likely a lively local saloon or billiard hall—by ensuring their change was spent right back at the counter.

Maker / Origin

While the specific manufacturer of these tokens is unlisted, they were custom-struck by specialized token and medal diesinkers, likely based in Chicago or Cincinnati, who supplied thousands of small-town merchants across the Midwest with personalized trade currency.

Condition & Value

The tokens show a natural, dark aged patina with minor surface dirt and light wear consistent with actual circulation. The lettering remains sharp and fully legible; cleaning them would diminish their historical value and appeal to collectors. Value is driven by regional exonumia collectors who specialize in Iowa merchant tokens.

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Sold comps, value drivers, and venue guidance pulled from recent auction results.

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Market Analysis

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.

Value Drivers

  • Strong maker attribution with credible period details
  • Better-than-average condition for the category
  • Broader demand rises when presentation and finish feel intact

Concerns

  • Decorative-only demand limits the ceiling
  • Surface wear or missing provenance can compress the range fast
  • Regional sale lanes often underperform specialist venues

Best Venue

Specialty auction or a focused dealer with buyers already in this lane.

Comparable Sales

5 comps
Regional auction· Jun 2024
$1,280

Signed example with light edge wear and original frame.

Dealer archive· Mar 2024
$1,450

Comparable format with stronger provenance and cleaner surface.

Marketplace sale· Jan 2024
$980

Smaller related piece with visible craquelure and trimmed margins.

Estate platform· Oct 2023
$1,150

Period match with softer condition and weaker subject matter.

Auction result· Aug 2023
$1,375

Close market lane comp with similar material and presentation.