OK, I should definitely know this. Can someone tell me what the initials "NIT" found on numerous pieces of Bryan Money refer to? A search of Schornstein's book did not yield an answer as far as I can find. Thanks in advance.

Always wondered that myself. It's "Not In Trust". One would think that would be a basic explanation for any text on Bryan money.

... a token or medal struck during the campaign of 1896 to elect William Jennings Bryan, the Democratic Party nominee, President of the United States. Bryan money is considered to be pro-McKinley in the 1896 presidential election. The original tokens are scarce to rare, and there are a number of different sizes and types.

With respect to Satirical Bryan Money, Farran Zerbe states: "The Satirical class comprises those pieces of numerous variety in size material with derisive or humorous inscription or design. Most all are casts; a few were struck. Type metal, or some composition of lead and aluminum were the most commonly generally used materials, with iron, copper, tin and cardboard contributing a few varieties". Thousands of such oversized coins were issued to ridicule the so-called Free Silver doctrine. Democrat candidate William Jennings Bryan and his supporters advocated the free coinage of silver and a new, bi-metal monetary standard in which silver was valued at a ratio of 16:1 to gold.

Bryan's Republican opponent, William McKinley, was endorsed by those who favored a single-metal, gold standard. They pointed out that if the Free Silver proposal were literally implemented, a coin containing a dollar's worth of silver would be "as big as a stove lid!" Hence, the size of this satirical piece, and 16 to 1 on the reverse. The letters NIT stand for "Not in Trust."

I pulled my copy of Bryan Money off the shelf. This is a reprint of articles by Farran Zerbe in The Numismatist beginning in the issue of July, 1926. I was sure Zerbe would tell me what NIT stood for. I was unable to find this.

A search on the web turned up "Not in Trust." I believe this but wish I found it in a print source. I understand Len Augsburger is keeping his library because there are things he can't find on the web. I think if I had to choose between the two, I would keep my access to the web.