Collections Research Volunteer Liz recently explored a remarkable object from the Powerhouse Collection: Object No. N11495, Cole’s Book Arcade Advertising Token.
This small, coin-sized token was issued by E. W. Cole to promote his world-famous Cole’s Book Arcade, which opened in Melbourne in 1873. More than a simple advertisement, these tokens, often referred to as medals, were a vehicle for Cole’s values, beliefs and vision for society.
The tokens frequently carried uplifting maxims offering guidance for everyday life. Phrases such as “READING AND THINKING BRING WISDOM” reflected Cole’s belief in the transformative power of knowledge. Others, including “GOVERN THE WORLD NOT BY GLORIOUS WAR BUT BY GLORIOUS TRUTH,” revealed his strong moral and political convictions. Cole believed deeply that education should be accessible to everyone.
Each token was sold for three pence and could be redeemed for goods or kept as a souvenir. It is estimated that approximately 300,000 tokens of various designs were distributed during the life of the bookstore.
Born in England in 1832, Cole arrived in Melbourne at the age of twenty, drawn by the gold rush. Finding gold mining both physically demanding and intellectually uninspiring, he turned instead to business. In 1865 he opened a pie stall, followed by a secondhand book stall at the Eastern Market on the corner of Bourke and Exhibition Streets (then Stephen Street). The venture was so successful that in 1873 he opened a bookshop on Bourke Street near Russell Street. A decade later, he relocated to a far larger, two-storey premises in what is now Bourke Street Mall, in the building that today houses David Jones.
The new Cole’s Book Arcade was enormous. Cole claimed it held two million volumes – making it, at the time, the largest bookshop in the world. Its atmosphere was closer to a carnival than a quiet, conventional bookstore. So great were the crowds that police were sometimes required to manage them.
The Arcade’s fame spread internationally. Notable visitors included Rudyard Kipling and Mark Twain during their visits to Australia.
Cole delighted in the whimsical and fantastical. He filled his arcade with attractions including funhouse mirrors, optical illusion galleries, a toy department, music boxes, a band and even an aviary. He envisioned a destination that was not merely a place to buy books, but an immersive experience – educational, entertaining and beautiful all at once.
This modest token provides a powerful glimpse into the vision of a man who saw bookselling as more than commerce – it was a vehicle for ideas, inspiration and community.
Thank you, Liz, for your thoughtful research and for bringing the story of this extraordinary object to life.
Research and story by volunteer Liz. Blogpost by Karen Griffiths, (Volunteers Program Officer)