The Collaborative International Dictionary of English v.0.48:

Token \To"ken\ (t[=o]"k'n), n. [OE. token, taken, AS. t[=a]cen;
   akin to OFries. t[=e]ken, OS. t[=e]kan, D. teeken, G.
   zeichen, OHG. Zeihhan, Icel. t[=a]kan, teiken, Sw. tecken,
   Dan. tegn, Goth. taikns sign, token, gateihan to tell, show,
   AS. te['o]n to accuse, G. zeihen, OHG. z[imac]han, G. zeigen
   to show, OHG. zeig[=o]n, Icel. tj[=a], L. dicere to say, Gr.
   deikny`nai to show, Skr. di[,c]. Cf. Diction, Teach.]
   1. Something intended or supposed to represent or indicate
      another thing or an event; a sign; a symbol; as, the
      rainbow is a token of God's covenant established with
      Noah.
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   2. A memorial of friendship; something by which the
      friendship of another person is to be kept in mind; a
      memento; a souvenir.
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            This is some token from a never friend. --Shak.
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   3. Something given or shown as a symbol or guarantee of
      authority or right; a sign of authenticity, of power, good
      faith, etc.
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            Say, by this token, I desire his company. --Shak.
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   4. A piece of metal intended for currency, and issued by a
      private party, usually bearing the name of the issuer, and
      redeemable in lawful money. Also, a coin issued by
      government, esp. when its use as lawful money is limited
      and its intrinsic value is much below its nominal value.
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   Note: It is now made unlawful for private persons to issue
         tokens.
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   5. (Med.) A livid spot upon the body, indicating, or supposed
      to indicate, the approach of death. [Obs.]
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            Like the fearful tokens of the plague,
            Are mere forerunners of their ends.   --Beau. & Fl.
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   6. (Print.) Ten and a half quires, or, commonly, 250 sheets,
      of paper printed on both sides; also, in some cases, the
      same number of sheets printed on one side, or half the
      number printed on both sides.
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   7. (Ch. of Scot.) A piece of metal given beforehand to each
      person in the congregation who is permitted to partake of
      the Lord's Supper.
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   8. (Mining) A bit of leather having a peculiar mark
      designating a particular miner. Each hewer sends one of
      these with each corf or tub he has hewn.
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   9. (Weaving) In a Jacquard loom, a colored signal to show the
      weaver which shuttle to use.
      [Webster 1913 Suppl.]

   Token money, money which is lawfully current for more than
      its real value. See Token, n., 4.

   Token sheet (Print.), the last sheet of each token. --W.
      Savage.
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WordNet (r) 3.0 (2006):

token money
    n 1: coins of regular issue whose face value is greater than
         their intrinsic value