Updated Message to Token Buyers Regarding Restrikes and Saginaw Tokens (Jan. 2026)

  Updated Message to Token Buyers Regarding Restrikes and Saginaw Tokens

The first part is a repost of original message. There is additional new information for those who purchase tokens. Please read the new info. towards the end.

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In 1933, a commissary was established at the mill, located in Williams. The local newspaper (The Williams News) was sharp and pointed in response. According to local opinion, the community provided schools and services, yet the mill paid no city taxes; this opinion did not take into account that the company provided employment, had built an electric power plant, and added several dams to serve the needs of the community. The commissary was seen as harming the local merchants (Fuchs, 275.) Commissary cars were also provided to the wood's operations, having been noted in the Company's annual reports.

Speculation can be made as to how the commissary effected worker's lives. The practice of "company stores" was common throughout company-built towns in the United States. The commissary, as a quasi-retail establishment, could serve the needs of the employees, where they could purchase such items as work boots and clothing, and additional food items for the mill and camp employees. Families of the employees were often dependent on the company for housing. All of their basic needs could be provided at the commissary, with a modest markup for the store. 

   For the company, this arrangement would provide a number of advantages. A worker's pay would be charged for mill-site housing, and room and board at the remote camps. Instead of payment of cash, script could be issued which itemized all deductions, with the remainder to be used as credit - honored only at the commissary. There is physical evidence that tokens, good only at the store, were issued. The company further benefited in that payroll became just a matter of accounting, with a reduced demand to keep large sums of cash on hand.  An employee could visit the paymaster for cash; however, during the Great Depression this could be fraught with danger. A request for currency could also include a notice of termination. 

 I came into possession of a company token (the item was purchased from a local coin dealer.) This is a remarkable artifact, giving physical evidence of the existence of the Commissary. It is about the size of a Morgan Silver Dollar. The small print indicates that it was stamped by a well-known token manufacturer. Tokens were used all across Arizona and the United States. A modern quarter is shown for comparison

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I recently came across several listings on eBay for "restrikes." The following information is from several internet sources:

ANILLO TOKEN RESTRIKES

The original dies for a number of tokens were made for the L.A. Rubber Stamp Company (L.A.R.S.) This company made tokens for companies from California, and throughout the Southwest U.S.A.

These dies were purchased by a company named ANILLO. They made a "trial stamping" resulting in 32 sets of 3500 tokens each. These new tokens covered a large number of companies.

These restrikes are also known as die-trials or restrikes. 

There is controversy in the collector's realm if these should be considered authentic tokens. Are they to be considered real or fake? 

Another website stated that sometimes restrikes are done to satisfy the collector demand. The ANILLO restrikes appear to have been done only once and not repeated. 

Before accusing anyone of selling fake tokens, consider that vendors and collectors may not be aware of this issue. The restrikes that I decided to purchase were clearly identified as such and did not have the reverse strike from a die. 

The existence of these restrikes only confirms that there are originals out there. Basically, if it looks shiny and fresh from the mint, it is probably a restrike. The websites stated that these do have value, particularly for someone who cannot afford an original. The value would be much, much less than the originals. Original Saginaw tokens can go for $125-$150. 

So, be informed and be aware. Use your own judgement; I own original and restrike tokens. My choice, and if they are sold, they will be listed accordingly.