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VK4SO > COINS 22.01.04 09:31l 48 Lines 2596 Bytes #999 (0) @ WW
BID : 18283_VK4TRS
Read: GUEST
Subj: UK Decimal Coin 1849
Path: DB0FHN<DB0RGB<DB0FSG<DB0PV<DB0MRW<OK0PKL<OK0PPL<DB0RES<ON0AR<7M3TJZ<
LZ3NP<VK6ISP<ZL2TZE<VK4TRS
Sent: 040122/0204Z @:VK4TRS.#BNE.QLD.AUS.OC #:18283 [Brisbane] $:18283_VK4TRS
From: VK4SO@VK4TRS.#BNE.QLD.AUS.OC
To : COINS@WW
It's true. Encyclopaedia Brittanica (and other sources) show the first
English silver florin, inscribed 'One Florin One Tenth of a Pound' along with
'Victoria Regina 1849'. This was a trial to test public response to a
proposed decimal coin system. Minting of the existing half-crown was halted
for a period of a few years. The new English florin then was to remain as
coin of the realm until demonetized on 1 July 1993.
The florin came a millenium after the silver penny of Alfred the Great.
That contained one pennyweight (dwt) of 24-grains, with 20 to the Troy oz.
The gold pound coin too has a long history. In the reign of Elizabeth I
the gold pound coin of 20/- was standardized at 174.5 grains weight 916 fine
(and referenced to a pound of silver).
Later, in the reign of Charles II, the gold pound coin was replaced by
the 'Guinea'. It was so named as the gold came from the Guinea Coast of
Africa, the later British 'Gold Coast Colony' (now Ghana). The guinea coin
was first minted in 1663, but fluctuated in value until 1717, in the reign
of George I, when Parliament fixed it's value at 21/-.
The guinea was minted until 1813. The 20/- gold sovereign then was adopted
in the Regency period (George III) with the first minting in the year 1819.
Despite withdrawal of guinea coins, use of the term persisted. The common
tradesman presented his account in pounds-shilling-pence for consideration. But
professional fees (doctors, lawyers, subscriptions) were rendered in guineas,
right up to the start of decimal currency.
Other (foreign) coins also were used widely, mainly the Spanish dollar
(piece of eight, or peso, 8 reale). This was the principal coin in the infant
Colony of New South Wales here. Coinage was scarce, and was largely expended
in purchasing comestibles and supplies from merchant trading vessels. But
a resourceful Governor Macquarie devised a neat solution. He had on hand
one convict master forger in William Henshall (hand-picked by a good English
judge). So, in 1813 Macquarie acquired a stock of Spanish dollar coins (then
worth 5/- each), and had the convict Henshall cut the coins by punching out
the centre, to form the 'holey dollar' (of 5/-) and the centre 'dump' (of
15-pence). An instant 25% profit, and double the number of coins. The coins,
mutilated and worthless elsewhere, remained in the Colony as local currency.
No, it is best to pass over the period when rum was the local currency,
under the infamous New South Wales Rum Corps!
73 de Mervyn VK4SO
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