Close to Sutter's Mill, this town was deeply involved in the gold rush of 1848. First known as "Dry Diggin's" due to the way they hauled dirt to water to wash it. In 1849, three men were hung for attempted robbery and it became known as "Hangtown". It is a real place and now called Placerville in the Sierra Nevada foothills. It's logo included a hangman's noose until 2021 when the town council decided to remove it.
Whether Lillie's Saloon existed or not is questionable and this token may be no more than a souvenir from the town wishing to profit on it's reputation. It is 38mm diameter and the photo with a quarter is for relative size. Content is bronze or copper. It does have a copper tone.
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