OTTOMAN PALESTINE: brass ¼ piastre token, ND (1885), Haffner-CC.17C, 21mm, Zichron Jacob name in English on one side, in Hebrew (zichron ya'akov) on the other side, VF, RR. Because of chronic shortages of Ottoman coins in general and low denominations in particular, the inhabitants of the fledgling agricultural settlement of Zichron Jacob (established in 1882) decided in 1885 to issue their own coinage, exclusively for local use, without the consent of the Ottoman authorities. The tokens were privately struck in Paris, France. Less than one year later, early in 1886, the Ottomans declared the use of these coins illegal, whereupon most of the Zichron Jacob tokens were collected, confiscated, and destroyed.
Estimate: 500-700 USD