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Pictured above is an undated large sized, reeded edged, Washington Success Token graded AU 55 by PCGS. The prominent obverse die crack exhibited is a common characteristic. These tokens, made in substantial quantities, are viewed by some as medals, and as coins by others. The diverse varieties were crafted in brass, copper, pewter/white metal, silver, and after striking, some were immersed to create a silvery appearance. They come in large, and the rarer small size, with plain edges, reeded edges, and in at least one instance, a scalloped edge. The obverse features a profile of George Washington, facing left, with the peripheral legend: "George Washington". Some varieties are distinguished by the length/shape of Washington's nose: either the Roman nose; the long pointed nose; or the extremely rare straight nose. The reverse displays an all-seeing eye at its center (reminiscent of that seen on the Nova Constellatio and Vermont landscape pieces), from which emanate rays of varying lengths interspersed with 15 six pointed stars. Some have suggested that, if the stars are representative of states, the tokens should have been struck some time between 1792, when Kentucky joined the Union as the 15th state, and before Tennessee attained statehood as the 16th state in 1796. The peripheral verbiage on the reverse reads: "Success To The United States".
As no concrete documentary evidence exists as to the origin and purposes of these pieces, widely divergent theories and speculations have evolved. The very thin and light weight brassy metalic content of the Success Tokens clearly suggest that they were made as souvenirs or remembrance pieces, and not to circulate in commerce.
As early as 1864, W.E. Woodward proposed that the Success tokens were connected to George Washington's second inauguration in March of 1793. This view has been supported by several well respected numismatic researchers. Woodward further speculated that these pieces may have been designed and struck by Jacob Perkins, for the citizens of Boston to wear at the second inauguration. Another divergent school of thought suggests that these enigmatic pieces were fashioned in the 1800s, as German style "spielmarken" (play money), or as game counters (per Rulau and Fuld).
Peter Jones traces a possible connection between these tokens and Thomas Passmore, a successful Philadelphia tinsmith and merchant. He cites an 1801 advertisement of the sale of 3,000 Washington medals in a local Philadelphia newspaper. It is unknown whether Passmore actively created these tokens, or merely bought a surplus of them from a vendor of British-made emissions. A connection was noted between Passmore's Masonic background, and the prominent all-seeing eye on the tokens. Ultimately however, it is concluded that the tokens may be spielmarkes after all.