Illinois. 32nd Regiment Illinois Volunteers. Undated (1861-1865) Inglish & Nantz. 50 Cents. Schenkman IL-32-50B (IL-F50B), W-IL-180-050b. Rarity-9. Brass. Plain Edge. EF-45 (NGC).
25 mm. Fairly uniform golden olive brass with light natural surface grime in places, speaking to the overall originality of this rare token. One small oxidation spot at the Z of NANTZ and a few microscopic marks and scratches are noted, but this is all standard for a circulated sutler token, and this is far superior to the obviously corroded and scratched plate token in Schenkman's second edition. The highest of four denominations known to have been issued, and all are very rare. No Inglish & Nantz tokens appear in our online archives, nor do we find any in the Steve Hayden online records. Two specimens from this issuer, including this one, appear in the Heritage archives. This has been off the market since 2015, while a 20-cent token graded 10 points higher brought $4,320 in their August 2021 sale. This is clearly a very challenging issue to acquire, and all denominations are listed as either R-8 or R-9 in Schenkman.
From the Bill Kelly Collection of Civil War Sutler Tokens. Earlier from Heritage's Houston Money Show Signature Auction of December 2015, lot 8587.

Estimate: $1200