The merchants you can visit to spend these is only around during Erolisi Day. Visit Steven or Douglas to spend your tokens.
This coin can be earned by completing various quests and it's also a reward option for completing the Hearts a'Flutter races.
Unlike some special currency, this is not heirloom, which means you can sell it or buy it using the broker.
This article refers to events, personae, items and activities only present in-game during the annual Erollisi Day festivities, which come to Norrath each year for a short time roughly around February 14th.