Before its Confederation in 1867, the nation of Canada was a loose collection of individual European colonies. Apparently, a decade before the Confederation, residents of Prince Edward Island pushed for independent national status. This token was part of that campaign. Ultimately, PEI joined the Confederation in 1873.
Evaluating tokens is not as easy as evaluating coins. There are far more coin collectors than token collectors, and the lack of demand keeps token prices low. A typical retail value for a token like the one in our picture would be $10 to $20 US dollars. As always, better condition means higher price.If you have a token for sale, figure a coin dealer would offer you one-half of the retail value, or less.
Our advice would be to hold on to your token, store it away from heat, moisture, and chemicals, and let the token market improve. The worldwide appeal of the Internet is causing increased interest in coin collecting (and therefore token collecting), and more collectors means higher prices.