English, Scotch and Irish Coins; A Manual for Collectors Being a History and Description of the Coinage of Great Britain, from the Earliest Ages to Th
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1882* edition. Excerpt: ... same gold coins--five pound and two pound pieces, guineas and half guineas--were struck under William in. for England as fn the reign before. The two heads on the obverse were replaced by the king's bnst in profile to the left, and the single crowned shield on the reverse by four shields, arranged as a eross with sceptres in the angles, and the arms of Nassau placed in the centre (Figs. 179 and 180). Fio. 178. William III. (Half Bawbee). Owing to the scarcity of silver and the proportionate value of the two precious metals not being properly understood, or being ignored, guineas during this reign rose to the extravagant value of 30s. apiece. The oonse quence was that great quantities of gold were imported from abroad, and the broad pieces as well as the milled silver coins of the old standard carried away in exchange. Guineas stood the importers in about apiece, and coining abroad therefore yielded an enormous profit. In England many persons took advantage of an Act passed under Charles II., and revived under James I., by which every person who should bring bullion of gold or silver to the mint, to be coined, was to receive weight for weight in standard coins. To what extent this privilege was used appears from an account which was delivered to the Committee of the House of Commons in February, 1695-96, by the Master of the Mint, and stated, that from Lady-day preceding, 721,000 guineas had been coined in the Tower of London for divers private persons. The price of guineas had in consequence to be regulated by Act of Parliament, and was gradually lowered, arst to 26s, and soon afterwards (April 1696) to 22s. The Act for private coinage was, for a short time, repealed, and the importation of guineas and half guineas prohibited. For Scotland, ..
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