Welcome to Old Coin Exchange
Collect, swap and share about our passion: numismatics.
Register for your free account   Sign in to your free account
 
The English penny first appeared in Anglo-Saxon ti
Coin Collecting News

Full Sovereign gold  ....
Branch Mints - Ottawa Canada History

1925 Gold Sovereigns  ....
One of the most unusual facts about 1925 sovereigns is that in 1949, 1950 and 1951, the Royal Mint produced sovereigns, but instead of preparing new dies with George VI's head, and with the correct date, they lazily re-issued George V sovereigns da

1933 Gold Sovereigns Were Not Issue  ....
1933 Gold Sovereigns Were Not Issued Neither were half sovereigns.

1937 Gold Sovereigns - Edward VII 1  ....
1937 Gold Sovereigns - Edward VII 1937

1989 Gold Sovereigns Coins Were Dif  ....
1989 Gold Sovereigns Were Different As you can see from our photographs, 1989 sovereigns did not use the by now traditional St. George and Dragon reverse design. Instead to commemorate the 500th anniversary of the first gold sovereign for Henry VII

Sixpence  ....
Things of interest

Firet Gold Coins  ....
The first gold sovereign in the reign of Henry VII The first Sovereign, its designs rich in symbolism, was part of the trappings of the new Tudor dynasty.


The English penny first appeared in Anglo-Saxon times, as a silver coin. It was derived from another silver coin, the sceat, of 20 troy grains weight, which was in general circulation in Europe during the Middle Ages

The weight of the first English penny was fixed at 22.5 troy grains (about 1.46 grams) by Offa of Mercia, an 8th century contemporary of Charlemagne.

The coin’s designated value, however, was that of 24 troy grains of silver (one pennyweight, or about 1.56 grams), with the difference being a premium attached by virtue of the minting into coins.

Thus 240 pennyweights made one troy pound of silver in weight, and the monetary value of 240 pennies also became known as a “pound”. (240 actual pennies, however, weighed only 5400 troy grains, known as tower pound, a unit used only by mints. The tower pound was abolished in the 16th century.) The silver penny remained the primary unit of coinage for about 500 years.

The purity of 92.5% silver (i.e., sterling silver) was instituted by Henry II in 1158 with the “Tealby Penny” — a hammered coin.

Over the years, the penny was gradually debased until by the 16th century it contained about a third the silver content of a proper troy 24 grain pennyweight.

By 1915, a penny was worth around 1/6 what it had been worth during the Middle Ages. British government sources suggest that prices have risen over 61-fold since 1914, so a mediaeval sterling silver penny might have had purchasing power equivalent to £4.50 today, and a farthing (a quarter penny) would have the value of slightly more than today’s pound (about £1.125).

 
.Cookie Policy