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1489-1526
1526
1526-1551
1551-1553
1553-1558
1558-1603
Henry VII introduced a radical change to the monetary system by introducing
the Sovereign, a pound coin. Although pounds had been used in accounts for
centuries, no pound coin had been issued before. He also introduced the Testoon,
a one shilling coin, at the start of the 16th century and re-introduced the Ryal
for a while. Double and treble sovereigns were struck at this time, but probably
not for general use.
| Farthing |
=
1/4 penny |
|
| Half
penny |
= 1/2 penny |
|
| Penny |
= basic monetary unit |
|
| Half
groat |
= 2 pence |
|
| Groat |
= 4 pence |
|
| Testoon |
= 12 pence =1s |
|
| Half
angel |
= 40 pence =3s 4d |
|
| Angel |
= 80 pence =6s 8d |
|
| Ryal |
= 120 pence =10s |
|
| Sovereign |
= 240 pence = 20s =£1 |
|
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Henry VIII is particularly noted for debasing the value of English coinage.
Initially, in 1526, gold coins were increased to 110% of their original value. A
new coin, the Crown of the Rose, valued at 4s 6d was introduced.
| Farthing |
=
1/4 penny |
|
| Half
penny |
= 1/2 penny |
|
| Penny |
= basic monetary unit |
|
| Half
groat |
= 2 pence |
|
| Groat |
= 4 pence |
|
| Testoon |
= 12 pence =1s |
|
| Half
angel |
= 44 pence =3s 8d |
|
| Crown
of the Rose |
= 54 pence = 4s 6d |
|
| Angel |
= 88 pence =7s 4d |
|
| Sovereign |
= 264 pence = 22s =£1 2s |
|
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A few months later, the coins were revalued again, the Crown of the Rose was
replaced by the Crown of the Double Rose, worth 5s, and a new coin worth 6s 8d
introduced, the George Noble. The values in this table represent the start of
this period. By 1551, the actual silver content of coins was down to about 25%.
| Farthing |
=
1/4 penny |
|
| Half
penny |
= 1/2 penny |
|
| Penny |
= basic monetary unit |
|
| Half
groat |
= 2 pence |
|
| Groat |
= 4 pence |
|
| Testoon |
= 12 pence =1s |
|
| Half
crown |
= 30 pence = 2s 6d |
|
| Half
angel |
= 45 pence =3s 9d |
|
| Crown |
= 60 pence = 5s |
|
| George
Noble |
= 80 pence =6s 8d |
|
| Angel |
= 90 pence =7s 6d |
|
| Half
sovereign |
= 135 pence =11s 3d |
|
| Sovereign |
= 270 pence = 22s 6d =£1 2s 6d |
|
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In 1551, the old coins were devalued and new fine silver coins were
introduced. These included new silver denominations of 3d, 6d, half-crown and
crown. The testoon now became the shilling. A new gold coin, the Fine Sovereign,
worth 30s was also introduced. The coinage was starting to take the form it
would have when it was replaced by decimal currency. It can be seen that there
was an overlap in some values.
| Farthing |
=
1/4 penny |
|
| Half
penny |
= 1/2 penny |
|
| Penny |
= basic monetary unit |
|
| Half
groat |
= 2 pence |
|
| Threepence |
= 3 pence |
|
| Groat |
= 4 pence |
|
| Sixpence |
= 6 pence |
|
| Shilling |
= 12 pence = 1s |
|
| Half
crown |
= 30 pence = 2s 6d |
|
| Half
crown |
= 30 pence = 2s 6d |
|
| Crown |
= 60 pence = 5s |
|
| Crown |
= 60 pence = 5s |
|
| Half
angel |
= 60 pence = 5s |
|
| Angel |
= 120 pence = 10s |
|
| Half
sovereign |
= 120 pence = 10s |
|
| Sovereign |
= 240 pence = 20s = £1 |
|
| Fine
Sovereign |
= 360 pence = 30s = £1 10s |
|
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Under Mary, the following currency was issued
| Half penny * |
=
1/2 penny |
|
| Penny |
= basic monetary unit |
|
| Half
groat |
= 2 pence |
|
| Threepence |
= 3 pence |
|
| Groat |
= 4 pence |
|
| Sixpence |
= 6 pence |
|
| Shilling |
= 12 pence = 1s |
|
| Half
crown |
= 30 pence = 2s 6d |
|
| Crown |
= 60 pence = 5s |
|
| Half
angel |
= 60 pence = 5s |
|
| Angel |
= 120 pence = 10s |
|
| Ryal |
= 180pence = 15s |
|
| Fine
Sovereign |
= 360 pence = 30s = £1 10s |
|
* this was actually the ‘base’ penny issued by Edward VI used as a half
penny.
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Elizabeth I’s reign produced a very wide variety of different denomination
coins. The farthing would have been a very small coin, so a three-farthing piece
was introduced to provide change from a penny for a farthing value purchase. The
old, debased coinage from Edward VI’s reign were also revalued, giving some
rather unusual values.
| Half
penny |
=
1/2 penny |
|
| Threefarthing |
=
3/4 penny |
|
| Penny |
=
basic monetary unit |
|
| Half
groat |
=
2 pence |
|
Twopence
farthing
revalued Edward VI shilling* |
=
2¼ pence |
|
| Threepence |
=
3 pence |
|
| Groat |
=
4 pence |
|
Fourpence
ha’penny
revalued Edward VI shilling* |
=
4½ pence |
|
| Sixpence |
=
6 pence |
|
| Shilling |
=
12 pence = 1s |
|
| Half
crown |
=
30 pence = 2s 6d |
|
| Quarter
angel |
=
30 pence = 2s 6d |
|
| Crown |
=
60 pence = 5s |
|
| Half
angel |
=
60 pence = 5s |
|
| Angel |
=
120 pence = 10s |
|
| Half
pound |
=
120 pence = 10s |
|
| Ryal |
=
180pence = 15s |
|
| Pound |
=
240 pence = 20s = £1 |
|
| Fine
Sovereign |
=
360 pence = 30s = £1 10s |
|
* different fineness and with different countermarks
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