Will this angel's sweet voice loosen
your tongue? (i.e. Perhaps you will tell the late President
Franklin?)
If you try to develop a sound fantasy-currency
mind the following details.
There always is the currency and the coinage and the two are
not necessarily the same. A currency may be based on a weight
of silver but perhaps there is no coin representing this weight.
Or the basic unit of the currency may be a certain coin but
this coin is no longer in use, replaced by a multiple of its
weight which is easier to change into a popular foreign currency.
Secondly people do not call coins by their proper name but use
colloquial terms. A coin may be worth a four crowns but it is
called an "Angel" in common parlance.
This may sound complicated. For the purpose of illustration
I have chose the Elizabethan English system to show you how
a mid-renaissance currency and coinage looked like:
The basis of the currency system is quite simple:
1 pound (£) is one troy pound in silver. About 370 g.
It is made up of 20 schillings (s). Each shilling is about 18.5
g silver.
1 shilling in turn is 12 pence (d) Each penny (!) weighing about
1.5 g silver. (This is the weight of 1 Euro-cent coin and by
the way about the weight of the Carolingian denier, of which
the penny is a distant descendent. The d in the abbreviation
stands for "d"enier, which in turn is nothing else
but the Roman denarius. Brand names do go a long way!)
The coinage was made up of ...
| Metal |
Coin |
Worth |
| Fine Gold |
Sovereign |
30 s |
| Gold |
Sovereign/Pound |
20 s |
| Gold |
R(o)yal |
15 s |
| Gold |
Half Laurel |
10 s |
| Gold |
Angel |
10 s |
| Gold |
Noble |
6s 8 d |
| Gold |
Half Angel |
5s 6 d |
| Gold/Silver |
Crown |
5s |
| Gold/Silver |
Half Crown |
2s 6d |
| Silver |
Shilling |
12 d = 1 s |
| Silver |
Sixpence |
6 d |
| Silver |
Groat |
4 d |
| Silver |
Threepence |
3 d |
| Silver |
Twopence-farthing |
2 1/4 d |
| Silver |
Threehalfpence |
1 1/2 d |
| Silver |
Penny |
1 d |
| Silver |
Threefarthing |
1 d |
| Silver |
Halfpenny |
1/2 d |
| Silver/copper |
Farthing |
1/4 d |
Gold was struck in different standards of fineness.
Standard gold 23 carats 3½ grains. Crown gold 22 carats.
In 1603 silver was restored to the standard before Henry VIII
debasement. i.e. 11oz 2dwt of silver to 18dwt alloy. Both Henry
VIII and Edward VI minted Farthings, Elizabeth did not. Henry
VIII minted a silver Testoon worth 1 Shilling reduced in value
from July 1551 to 9 Pence then 6 Pence.
Silver "Portcullis " money minted in
1600 specifically for the Company of Merchants trading to the
East Indies. These "Testerns" minted to an exact equivalent
weight in silver to the Spanish "Real". This was a
coinage specifically for foreign trade because the Indian merchant
were accustomed to the Spanish coins.
| 8 |
Testerns |
equal silver to |
8 |
Reals |
| 4 |
Testerns |
|
4 |
Reals |
| 2 |
Testerns |
|
2 |
Reals |
| 1 |
Testern |
|
1 |
Real |
The Sovereign or Double R(o)yal, was a gold coin
with a value of twenty shillings. It was first produced by Henry
VIII (1485-1509) and continued through 1662. The coin had a
diameter of about 4,25 cm and weighted about 11.2 g in fine
gold. The name probably stems from the picture showing the king
enthroned in full splendor. Under Elizabeth I sovereigns from
standard gold were struck, worth 20 s or 1 pound. Others from
fine gold had a value of about 30 s and weighted 15.5 g.
The Ryal was a gold coin with a value of ten shillings
introduced by Henry VII (1485-1509) to replace the Noble (which
had been valued at 6s8d). The coin was unpopular and was replaced
by the Angel. Mary (1553-1554) and Elizabeth I (1558-1603) struck
a fifteen shilling ryal.
The Half Laurel, Half Sovereign or Double Crown
had a value of ten shillings. The double crown was first produced
by Henry VIII (1485-1509) and continued through 1662.
The Angel was a gold coin introduced by Edward
IV (1461-1470) with a value of 6s8d to replace the unpopular
ten shilling ryal. The name for the coin comes from the obverse
design showing St. Michael spearing a dragon. Under Edward VI
(1547-1553) the value of the coin was increased to ten shillings.
It had a diameter of 2,7 cm and weighted about 5.6 g in gold.
The Noble was introduced under Edward III. It
was unpopular and depicted the king standing in a ship.
The Half Angel was a gold coin introduced during
the restoration of Henry VI (October 1470-April 1471) with a
value of 3s4d. In 1526 under Henry VIII the value was increased
to 3s9d. Production of the coin continued through James I, with
the value raised to 5s6d in 1612. The final issue of half angel
coins was minted in 1619.
The Crown, valued at five shillings, dates back
to Henry VII (1485-1509), when it was made of gold. Edward VI
(1547-1553) struck the first silver crowns in 1551-1553, which
were over twice the size of his gold crowns. The gold crowns
had a diameter of a little more than 1 cm and weight of a little
less than 3 g. The large silver crown must have weighted around
40 g with a diameter of up to 3 cm. These coins were inspired
by the large silver coins of Austria and Spain. Both countries
had access to vast deposits of silver. The first in the mountains
of Tyrol the latter in the Americas. These coins were called
Thaler, which is, where the Dollar gets his name from.
The Halfcrown, valued at 2s6d, was introduced
as a gold coin under Henry VIII (1509-1547). Production of the
hammered gold half crown continued into the reign of James I
who minted gold halfcrowns (1603-1619) and also produced a larger
sized silver halfcrown (1603-1625).
The silver Shilling dates back to Henry VII (1485-1509)
when it was known as the "testoon." By the early Seventeenth
Century it became a important coin with several issues minted.
The testoon bore the portrait of the ruling monarch in profile.
This was an artistic innovation inspired by Italian renaissance
coins. It weighted around 18.5 g and had a diameter of about
3 cm but was rather thick to bear the strong relief of the portrait.
The silver Sixpence dates back to Edward VI (1547-1553).
The first milled sixpence were produced by Elizabeth I during
1561-1571.
The silver Fourpence, originally called a Groat,
goes back to Edward I (1272-1307). It is often thought the fourpence
coin was part of the Maundy series. That is, part of a series
of specially produced coins that were not made for circulation
but rather were ceremonial. Maundy coins were special products
for the ruler to distribute to the poor on Maundy Sunday; a
ceremonial tradition that still continues in England. 6 g silver,
2.7 cm diameter.
The silver Threepence was first issued under Edward
VI (1547-1553) with milled coins being produced by Elizabeth
I during 1561-1564.
The silver Twopence, originally called a half
groat, was first produced in 1351 under Edward III (1327-1377).
Diameter 2 cm, weight 3 g. Usually written "tupence".
The silver Penny appear to have been first introduced
into England during the reign of King Offa in 757. For centuries
it was the only coin struck in the realm with some 70 different
mints producing the coin during the rule of William the Conqueror
(1066-1087). No other denomination was produced in England until
the short lived 20 pence coin under Henry III (1216-1272). It
weighted about 1.5 g and had a diameter of about 1.8 cm.
The silver Halfpence dates from the period of
Henry I (1100-1135) and Henry III (1216-1272) but the series
did not become a regular issue until Edward I (1272-1307). With
a silver contents of 0.7 g this coin was rather tiny.
Recently a silver Farthing from the reign of Henry
III (1216-1272) has been uncovered, but the series did not become
a regular issue until Edward I (1271-1307). The last silver
farthings were minted under Edward VI (1547-1553). The series
was then suspended as the coins were so small they were difficult
to mint and were unpopular with the public as they were frequently
lost. When the series was renewed by James I the farthing was
a larger coin minted in copper, or occasionally tin. However
these hammer struck coins were not royal issues but produced
by individuals who obtained a royal license to mint them such
as Lady Harrington and the Duke of Lennox. The practice of issuing
royal licenses to mint farthings continued under Charles I.
During this period farthings averaged about 17 mm in diameter
and about 0.58 g in weight.

