May 2 2016
A round 3-pence dividend token of the Dewsbury Pioneers’ Industrial Society Ltd. The token was struck by John Ardill of Leeds. Both obverse and reverse are identical.
Dividend tokens to the value of the amount spent were handed to co-op customers for each transaction. When a number of tokens had been collected, they could be exchanged for a single token of higher denomination. Each year, a dividend, expressed in pence per pound, was declared, and holders of the tokens were able to exchange them for cash at that rate. If the rate was judged to be too low, holders of the tokens could retain them in the hope that it would improve the following year. The Dewsbury Pioneers’ Industrial Society was formed in 1857.
Date: Late 19th to early 20th century. Diameter: 24,9 mm. Material: Copper alloy. Weight: 2,9 g. Found: Lancashire 2015.
Sources: UK Detector Finds Database