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The Very Highest Quality British Coins...
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Charles I Copper Farthing
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Obverse of Richmond Type Copper Farthing
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Reverse of Richmond Type Copper Farthing
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Charles I Copper Farthing
Under James I, Charles' predecessor, it had been realised that there was a requirement for low-denomination coinage for use as small change, but that farthings were too small a denomination to strike in silver equivilent to that of the coin's face value.
Since striking coins in base metal was considered beneath the dignity of the Crown and the Royal Mint, the responsibility was farmed out to some of the more entrepeneurial favourites of the King, including the Haringtons, the Lennoxes, Richmonds and Maltravers. They acquired licences (for a high price) to strike these coins in the king's name and to make a profit from the difference between the face value of the coins struck and the cost of the licence to strike them.
Not suprisingly, the various noble families wished to strike them as cheaply as possible, and their intrinsic metal content was nowhere near their face value. At a time when members of the public were not used to the concept of fiat currency, this made the coins very unpopular, especially when merchants found that the families who had struck them were extremely reluctant to redeem them for precious metal regal issues.
Nevertheless, the striking of these coins continued throughout Charles I's reign, despite their unpopularity. They were discontinued by the Commonwealth Government following the Civil War, although they were replaced by merchant tokens instead, who were willing to accept them in exchange for goods and services provided by their business. In 1672, 12 years after the Restoration, the Government decided to issue proper regal copper issues struck by the Royal Mint, to replace the unofficial token issues then in circulation.
Obverse:
Crown with Two Sceptres surrounded by Legend
CARO: DG: MAG: BRI
Reverse:
Crowned Harp
The legend reads:-
FRA ET HIB REX.
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