The December 2021 issue of the Love Token Society's Love Letter newsletter has a nice article by editor Carol Bastable on Friendship Rings.
With permission, here's an excerpt. Thanks!
-Editor
In a past issue of the Love Letter there was an article on love token
rings. Pictured to the right is an ad from an 1892 wholesale catalog
from said article. Besides being identified as coin silver rings, they
were also termed as Friendship Rings. Below the ad are some
pictures of actual Friendship Rings. Generally the bands are made
from the outer perimeters of coins. The coin centers are cut out and
made into charms, also known as bangles. On occasion the ring band
is made from wire rather than the reeded edge of a coin.
Until now it was a mystery how these rings got their name.
An 1891 Ladies' Home Journal (premium catalog) tells the
origins of Friendship coin rings. The story is as follows:
Apparently, the latest fad in connection with rings requires
a young lady to request of gentlemen friends a subscription
of a cent apiece. With funds so obtained a ten-cent silver-
piece is formed into a ring with a bangle, on which is
engraved initials or a date. We think our plan of sending
Subscribers is to be preferred. The passage continues, We
have the rings all ready made up, and they are thicker than
most of those made of coin. Order only by size. (See our
Ring Scale.) Price, 40 cents each, postpaid.
The Ladies Home Journal offered rewards or premiums for
women who sold subscriptions of the magazine. The
Friendship ring was available in 1891 for selling three 3-
month subscriptions at 25 cents each. There was also a price
of 40 cents each, post-paid if a person wanted to buy the ring directly. While the ring from the Ladies Home Journal is not made from a coin, they have supplied us with the story behind these rings.
Over the years I have seen a variety of these rings and have questioned whether the bangle was made from a coin in instances where both sides were engraved. With silver bands that have a reeded edge and a dental design inside the rim, it would follow that the bangle would come from the same coin.
[At right] are gold Friendship rings from
the 1891 premium catalog. The bottom
one has a milled edge and is said to
imitate a $5.00 gold coin. Obviously it is
less costly to use 10k or 14k than to cut up
a $5 coin. This ad indicates that at times a
milled coin edge was manufactured.
Without these period references there is
much we would not know. They convey
the history, pricing and a time frame from
1891-1893. These confirm that love token
information is out there just waiting to be
discovered.
For more information on the Love Token Society, see:
http://lovetokensociety.com/
https://www.facebook.com/groups/149160525251231/
Wayne Homren, Editor
The Numismatic Bibliomania Society is a non-profit organization
promoting numismatic literature. See our web site at coinbooks.org.
To submit items for publication in The E-Sylum, write to the Editor
at this address: whomren@gmail.com
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