Clippers and coiners in 16th-century
England
14 April 2014
Research by Jennifer Bishop, a PhD candidate in
Cambridge University's History Faculty, looks at
16th-century perceptions of coinage on an
everyday level: on the street and in the market
place where the bulk of transactions took place at a
time when prices were rising and good monies
were scarce.
Edward VI teston stamped with a seated greyhound
countermark. Credit: Spink & Son
In 2017 a new £1 coin will appear in our pockets
with a design extremely difficult to forge. In the
mid-16th century, Elizabeth I's government came
up with a series of measures to deter "divers
evil persons" from damaging the reputation of
English coinage and, with it, the good name of the
nation.
Bishop's exploration of the Elizabethan coinage is
part of a wider study of metallurgical and monetary
matters in mid-16th century England. She
explained: "What interests me is how these topics
were understood and discussed by ordinary people.
My sources range from the official texts of royal
proclamations and legislation to the uncontrolled
circulation of rumours and gossip. Together, these
sources show how popular perceptions of the
coinage affected government policy and vice
versa."
A good coinage was important because it provided
the basic standard on which most transactions and
reckonings were calculated in 16th century
England. Over and above that, the status of the
country's coinage reflected its reputation on the
The Royal Mint announced last month that in 2017 international stage and the authority and
it will introduce a new £1 coin, said to be the "most competence of its government. Debasement of the
secure coin in the world". The reason behind the
coins in circulation wreaked havoc in the
decision, which could cost businesses as much as marketplace: at one time the shilling, the original
£20 million, is the surge in counterfeiting. It is
value of which was 12d, was worth half its value at
estimated that around 3% of £1 coins are fakes
6d and at its lowest point traded for just 2¼d.
with an estimated 45 million forgeries in circulation.
Four and a half centuries ago, Elizabeth I made
the reform of currency one of her government's top
priorities. Invested as queen in 1558, she inherited
a coinage which was fraught with problems.
Elizabeth's father, Henry VIII, had authorised a
series of debasements which meant that in the
space of just seven years the silver content of
English coins was reduced by more than 80%.
Counterfeiting was rife, with contemporary reports
claiming that a great multitude of "noythy [naughty]
money" was in circulation.
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became one of the chief aims of Elizabeth I's
regime. As well as putting an end to debasement,
the government set out to tackle counterfeiting.
Royal proclamations warned that "counterfeit and
false moneys" were being produced "in great and
notable sums" and circulated throughout the realm
by "divers evil people". Currency crimes ranged
from counterfeiting to clipping, melting, washing
and trafficking in coin. Collectively these illicit
practices were known as coining.
A 'bad' teston deliberately cut in two. Credit: Fitzwilliam
Museum
For ordinary people, fluctuating values had serious
consequences. Prices rose because sellers
anticipated a drop in value and adjusted their prices
accordingly. The reputation of English coins was so
badly damaged that on occasion they were refused
as currency and coins of lower denomination –
such as base shillings and groats – were
increasingly shunned.
"Many contemporary commentators identified the
debasement of the coinage as a root cause of
England's economic problems, and they also went
much further linking it to widespread social
disorder, disruption and popular unrest – and the
corruption of English towns and local government –
with coinage being deeply symbolic of the health
and prosperity of the nation," said Bishop.
Today all UK coinage is made by the Royal Mint in
Llantrisant, South Wales. In the mid-16th century,
there were as many as eight Royal mints licensed
to strike coins. Outside the mints, counterfeiting
was widespread and practised by all manner of
"naughty persons". Records noting the occupations
of arrested counterfeiters (punishment for those
found guilty of the most severe crimes was
hanging) reveal that the came from a wide range of
social groups – from gentlemen to servants.
"Counterfeiters included goldsmiths and
metalworkers. Some counterfeit coins were so
skilfully made that they were hard to spot,
especially when the official coins in circulation were
of such poor quality. Records in the State Papers
show that one arrested counterfeiter, James Powell
was so confident in his coining abilities that he
offered to make tools and instruments for use by
the royal mint," said Bishop.
Asked to comment about debasement, the Lord
and Council of Ireland wrote to the Privy Council in
January 1552: "We do consider that the baseness
[of the coinage] cawseth ynyuersall darthe,
encreaseth ydlenes, decayeth nobylitie (one of the
pryncypall kayes of a common welthe) and
bryngeth magistrates in contempt and hatred of the
people, whereof muste nedes growe disobedience." Pictures of the base testons showing their distinguishing
marks from The Summarie of Certaine Reasons, 1560
The restoration of "good monies" was seen as a
panacea for the country's ills, and recoinage
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Measures introduced to tackle coining included the look for in forgeries, so the Elizabethan government
directive in 1556 that no one should accept any
issued visual aids to help people identify the base
coins without first weighing them. Coins found to be coins.
false were to be defaced or cut into two to render
them unusable. Examples of coins cut in this way
are held by the Fitzwilliam Museum.
Provided by University of Cambridge
The coins worst affected by debasement were
shillings, otherwise known as testons, which posed
the greatest challenge in restoring public faith in the
coinage. Because some testons in circulation were
baser (containing less silver) than others, it was
decided that they would be given two different
rates: the "worse" sort of testons valued at half the
"better" sort. The base testons bore a distinguishing
mark – fleur de lis, rose, lion or harp. Just as today
the Bank of England offers tips on how to check the
validity of the £1 coin in your pocket, and what to
look for in forgeries, so the Elizabethan government
issued visual aids to help people identify the base
coins.
"Counterfeiters included goldsmiths and
metalworkers. Some counterfeit coins were so
skilfully made that they were hard to spot,
especially when the official coins in circulation were
of such poor quality. Records in the State Papers
show that one arrested counterfeiter, James Powell
was so confident in his coining abilities that he
offered to make tools and instruments for use by
the royal mint," said Bishop.
Measures introduced to tackle coining included the
directive in 1556 that no one should accept any
coins without first weighing them. Coins found to be
false were to be defaced or cut into two to render
them unusable. Examples of coins cut in this way
are held by the Fitzwilliam Museum.
The coins worst affected by debasement were
shillings, otherwise known as testons, which posed
the greatest challenge in restoring public faith in the
coinage. Because some testons in circulation were
baser (containing less silver) than others, it was
decided that they would be given two different
rates: the "worse" sort of testons valued at half the
"better" sort. The base testons bore a distinguishing
mark – fleur de lis, rose, lion or harp. Just as today
the Bank of England offers tips on how to check the
validity of the £1 coin in your pocket, and what to
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APA citation: Clippers and coiners in 16th-century England (2014, April 14) retrieved 16 June 2017 from
https://phys.org/news/2014-04-clippers-coiners-16th-century-england.html
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