Countermark

Last updated
A silver coin of Charles IV of Spain, countermarked for local use by Chinese merchants in Sumatra (Su Ma Te La ). Also known as a chop mark. Sumatra.jpg
A silver coin of Charles IV of Spain, countermarked for local use by Chinese merchants in Sumatra (苏马特拉). Also known as a chop mark.
1 Peruvian sol converts to 1 Guatemalan peso - 1891 TF 1 sol-Peso Guatemala Peru - 1891.png
1 Peruvian sol converts to 1 Guatemalan peso – 1891 TF
An 1848 gold quarter eagle with a punchmark reading "CAL" on its reverse. NNC-US-1848-G$2 1/2 -Liberty Head (CAL).jpg
An 1848 gold quarter eagle with a punchmark reading "CAL" on its reverse.

A countermarked, punchmarked or counterstamped coin is a coin that has had some additional mark or symbol punched into it at some point after it was originally produced while in circulation. This practice is now obsolete.

Contents

Countermarking can be done for a variety of reasons. If the currency is reformed, existing coins may be rendered void. In this situation, coins already in circulation could be marked with the new value (according to the new currency system). The life span of existing coins could thus be extended, which might under some circumstances be a cheaper alternative to recalling the coins, melting them and striking replacements. Similarly, foreign coins could be marked as legal or accepted currency, thus allowing them to circulate in the area where they were countermarked. Countermarking can also be done for political reasons, i.e. a new state or régime demonstrating its authority by countermarking coins issued by the previous state.

A 5 Mark coin counterstamp to show the value of 1,000,000 Mark 5markcounterstamppostWWI.png
A 5 Mark coin counterstamp to show the value of 1,000,000 Mark

Some experts recommend not to use the term countermark and counterstamp as synonyms, but in different contexts. A counterstamp is applied by a die, and by machine to an existing coin, while a countermark is punched onto the coin, mostly by hand, using a punch and a hammer or a primitive hand-operated machine. Often countermarks are applied by private persons, as is the case with chops (often referred to as chopmarks), which were punched by money changers, bankers or shroffs onto foreign coins circulating in China in the 19th century. In contrast the use of counterstamps should be authorized by a local or national Government. An example of this would be post WWI in now modern day Germany to show hyperinflation.

The term punchmark is mainly used when referring to the earliest Indian silver coins which are coin-like pieces of metal of a standard weight that are bearing various symbols which were applied with punches, resulting in what are known as punchmarked coins.

See also

Related Research Articles

A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance; i.e., legal tender laws may require a particular unit of account for payments to government agencies.

<span class="mw-page-title-main">Coin</span> Small, flat and usually round piece of material used as money

A coin is a small object, usually round and flat, used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. The faces of coins or medals are sometimes called the obverse and the reverse, referring to the front and back sides, respectively. The obverse of a coin is commonly called heads, because it often depicts the head of a prominent person, and the reverse is known as tails.

<span class="mw-page-title-main">Cent (currency)</span> Monetary unit in many national currencies (symbol ¢)

The cent is a monetary unit of many national currencies that equals 1100 of the basic monetary unit. The word derives from the Latin centum, 'hundred'.

<span class="mw-page-title-main">Commemorative coin</span> Coins issued to commemorate some particular event or issue

A commemorative coin is a coin issued to commemorate some particular event or issue with a distinct design with reference to the occasion on which they were issued. Many coins of this category serve as collector's items only, although some countries also issue commemorative coins for regular circulation.

<span class="mw-page-title-main">Dollar coin (United States)</span> Current denomination of United States currency

The dollar coin is a United States coin with a face value of one United States dollar. Dollar coins have been minted in the United States in gold, silver, and base metal versions. Dollar coins were first minted in the United States in 1794.

<span class="mw-page-title-main">Exonumia</span> Numismatic items other than coins and paper money

Exonumia are numismatic items other than coins and paper money. This includes "Good For" tokens, badges, counterstamped coins, elongated coins, encased coins, souvenir medallions, tags, wooden nickels and other similar items. It is an aspect of numismatics and many coin collectors are also exonumists.

<span class="mw-page-title-main">Livre tournois</span> Medieval French currency

The livre tournois was one of numerous currencies used in medieval France, and a unit of account used in early modern France.

<span class="mw-page-title-main">Tongan paʻanga</span> Currency of Tonga

The paʻanga is the currency of Tonga. It is controlled by the National Reserve Bank of Tonga in Nukuʻalofa. The paʻanga is not convertible and is pegged to a basket of currencies comprising the Australian, New Zealand, and United States dollars and the Japanese yen.

<span class="mw-page-title-main">Azerbaijani manat</span> Currency of Azerbaijan

The manat is the currency of Azerbaijan. It is subdivided into 100 gapiks.

<span class="mw-page-title-main">Kyrgyz som</span> Currency of Kyrgyzstan

The som is the currency of Kyrgyzstan.

Trade dollars were silver coins minted as trade coins by various countries to facilitate trade with countries in East Asia, especially China and Japan. They all approximated in weight and fineness to the Spanish dollar, which had set the standard for a de facto common currency for trade in the Far East.

<span class="mw-page-title-main">Coinage of India</span>

The Coinage of India began anywhere between early 1st millennium BCE to the 6th century BCE, and consisted mainly of copper and silver coins in its initial stage. The coins of this period were Karshapanas or Pana. A variety of earliest Indian coins, however, unlike those circulated in West Asia, were stamped bars of metal, suggesting that the innovation of stamped currency was added to a pre-existing form of token currency which had already been present in the Janapadas and Mahajanapada kingdoms of the Early historic India. The kingdoms that minted their own coins included Gandhara, Kuntala, Kuru, Magadha, Panchala, Shakya, Surasena, Surashtra and Vidarbha etc.

This glossary of numismatics is a list of definitions of terms and concepts relevant to numismatics and coin collecting, as well as sub-fields and related disciplines, with concise explanations for the beginner or professional.

<span class="mw-page-title-main">Danish West Indian daler</span> Currency of the Danish West Indies (1849–1917)

The daler was the currency of the Danish West Indies between 1849 and 1917, and of the United States Virgin Islands between 1917 and 1934.

<span class="mw-page-title-main">Overstrike (numismatics)</span>

In numismatics, an overstrike describes a situation in which an existing coin rather than a blank is struck with a new design. This practice is now obsolete and generally occurred for two purposes. Overstriking was sometimes done for technical reasons when a first strike is unsatisfactory, or accidentally if the blank slips out of place or if the dies judder, resulting in a slight doubling of the design. However, sometimes old or worn coins were overstruck with new designs by later rulers or foreign states.

The dollar was the currency of Tobago until 1814. The currency comprised various cut Spanish dollars and countermarked French colonial coins. The dollar was subdivided into 11 bits, each of nine pence. In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar, then the British West Indies dollar, before the Trinidad and Tobago dollar was reintroduced.

<span class="mw-page-title-main">Punch-marked coins</span> Early coinage of India

Punch-marked coins, also known as Aahat coins, are a type of early coinage of India, dating to between about the 6th and 2nd centuries BC. It was of irregular shape. These coins are found over most parts of subcontinent and remained in circulation till the early centuries CE.

<span class="mw-page-title-main">1 yen coin</span> Smallest denomination of the Japanese yen currency

The 1-yen coin is the smallest denomination of the Japanese yen currency. Historically they were initially made of both silver and gold in the early 1870s. Issues facing the Japanese government at the time included wanting to adopt the gold standard, and competing against the Mexican dollar for use in foreign trade. The decision was made to use silver one yen coins exclusively outside of Japan for trade, while gold coins were minted and used in mainland Japan. Gold and silver coins were eventually allowed to co-circulate in mainland Japan from 1878 to 1897 when they were demonetized. Millions of former one yen silver coins were countermarked by the Japanese government for use outside of the mainland. Silver one yen coins continued to be minted until 1914 for backing up currency.

<span class="mw-page-title-main">Chop marks on coins</span>

Chop marks on coins are Chinese characters stamped or embossed onto coins by merchants in order to validate the weight, authenticity and silver content of the coin. Depending on particular technique coins said to have been "chopmarked", "countermarked" and "counterstamped".

<span class="mw-page-title-main">Countermarked yen ("Gin")</span> Type of stamped Japanese currency

Countermarked yen refers to Japanese trade dollars and 1 yen coins that are stamped 銀, literally meaning "silver". The countermark was added by the Japanese government in 1897 to these coins dated up to that point. This came at a time when Japan went onto the gold standard prompting the government to confine these two denominations for use outside the mainland. Due to their eye appeal, these coins are now regarded as collectibles by preference.

References