What possible connection is there between the legendary "Pieces of Eight" and an old time Merced billiard parlor? There’s at least one, which has often existed elsewhere but has only surfaced recently in Merced.

Pieces of eight was of course the name given to the Spanish Empire’s Eight Reales. This predecessor of the US silver dollar was the major coin issued by Spain’s overseas colonies in the New World. Beginning in the sixteenth century, the Eight Reales was extensively coined in all of the Empire’s mints of North and South America.

Later on in these same colonies interest grew to localize the money they used. Periodic coin shortages added urgency to this provincial focus.

The most common practice for addressing this problem was to cut the mother coin into eight pie-shaped wedges. These were then counter-stamped for the particular locality that was creating them. The value of each new piece was usually expressed as "a bit" and its multiples.

While these creations eventually faded from use, the name survived, both in the Caribbean and in the United States, where "bits" had been extensively used. The most common use of the term "bits" in this country has been our continuing reference to our quarter-dollar as "two bits" ( remember the old football cheer: two bits, four bits, six bits, a dollar, all for old Gumshoe High, stand up and holler!).

But what possible connection does this have with a billiard parlor? Well….in our country’s history, and particularly in the western U S , drinking and recreational establishments have been prolific users of merchant tokens. In simplest terms, a token might be described as a privately issued substitute for money, and a high percentage of saloons, pool rooms, billiard parlors, and similar establishments used them in the latter part of the 19^th century through the early decades of the present century.

Usually round and most often made of metal, at least in earlier days, these tokens proclaimed a value "in trade", "in merchandise" or "in drink". The valuable turn-of-the-century Cosmopolitan Saloon token from Merced, octagonal and aluminum, was "good for 10 Cents in Trade". Merced’s even more valuable Quigley Saloon token of the late 1880’s was brass, round, and "Good for one Drink."

It was during this general time period that the price of beer rose, from 10 cents a glass to 25 cents for two. Such "schooners" held a large amount of beer, and customers were often unable to drink more than one. The solution for making change was a 12 ½ cent or "one bit" token.

As a result, saloon tokens of this denomination are not unusual. The book Saloons of the American West illustrates a large number of bar tokens. Of those pictured that reveal a denomination, 18 of 59 (30%) have a one-bit value. And, as tokens of this value became more common in saloons, other businesses such as billiard parlors occasionally adopted the one-bit denomination for their use.

However, while 12 ½ cent merchant tokens have been identified across the California landscape, including a few from other towns within Merced County, no one bit token from Merced City had ever been officially reported….until recently. This changed with my purchase of such a piece issued by Rowell and Goldman.

Research indicates that, as competitors, both W F Rowell and William Goldman were in the cigar and tobacco business in Merced during several of the early years of this century. Then, for a single year (1912), they were listed in a business directory as partners, Rowell & Goldman, involving "poolroom, cigars & tobacco." By the following year references indicate each had resumed individual business interests.

A 25 cent round, brass, Rowell and Goldman token has been officially known for many years and is listed in both major California token references (Kappen and Album), each issued during the 1970’s. The 12 ½ cent token is aluminum and octagonal.

Our national coinage contains several issues that hold a special place in our country’s history. It is merchant tokens, however, that help to provide permanent historical records for regional and local areas. Remember that, if you ever meet up with one of these miniature antiques!

 From Calcoin News, Vol. 52, No. 1 Winter 1998