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This is one of the many, many "Hard Times" tokens that circulated as money after the Panic of 1837. It's a fairly common piece, running $25 or so (2014). The building is the Merchants Exchange Building, which, having been constructed of marble, surprised folks when it burned down in 1835.
The "millions for defence" was a popular slogan, and apparently spelling that with a "C" was acceptable then. See Coin Stories for a discussion of its origin.
HT-293 Not certified
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