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Managers created these coins by cutting copper and brass from kegs into a rectangular or circular shapes and marking them with his initials and the letters HBC. Some beaver coins introduced between 1854 and 1870 were fractional, including ones that represented 1 ⁄ 2 and 1 ⁄ 4 made beavers. [3] Example of HBC tokens used circa 1854
Harold Innis begins The Fur Trade in Canada with a brief chapter on the beaver which became a much desired fur due to the popularity of the beaver hat in European society. [1] He remarks that it is impossible to understand the developments of the fur trade, or of Canadian history, without some knowledge of the beaver's life and habits. [4]
Modern fur trapping and trading in North America is part of a wider $15 billion global fur industry where wild animal pelts make up only 15 percent of total fur output. In 2008, the global recession hit the fur industry and trappers especially hard with greatly depressed fur prices thanks to a drop in the sale of expensive fur coats and hats ...
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At the time, the demand for fur was surging in Europe as it was used to make cloth and fancy hats. Data collected from England in the 18th century highlights that the years from 1746 to 1763 saw an increase of 12 shillings per pelt. It has been calculated that over 20 million beaver hats were exported from England alone from 1700 to 1770. [16]
Its services are used by both large fur farms and small-time trappers. Its auctions are held three to four times a year in Toronto. It is the largest fur auction house in North America, and the second largest in the world. [1] In its May 2008 auction, NAFA handled nearly 3.5 million pelts.
Beaver fur has long been used in making muffs, stoles, collars, trimmings, and felt for hats. [4] The American beaver scores a 90/100 on the Austin Fur Durability chart [5] making it practical for utilitarian items such as linings. In the 21st century beaver is considered a premium fur and is often seen as very attractive to designers.
The American Fur Trade of the Far West: A History of the Pioneer Trading Posts and Early Fur Companies of the Missouri Valley and the Rocky Mountains and the Overland Commerce with Santa Fe. 2 vols. (1902). full text online; Dolin, Eric Jay (2010). Fur, Fortune, and Empire: The Epic History of the Fur Trade in America (1st ed.).