Counter Stamp

Al,

Are you talking about one of these...



If so, I'm not too familiar with the counter-marked issues of George III, so I hope I am right in saying that by the end of the 18th Century the English circulating coinage was in a deplorable state with regards to both quality and quantity.

There wasn't a great deal of confidence in banknotes and people tended to hold on to their coins. England was at war and a great number of people would cash in their banknotes in exchange for coins. This put a great strain on the Bank of England bullion reserve, so much so that the Government stepped in and ordered the Bank to cease its cash payments. Naturally this increased the demand for change. The Bank was under such a strain and the price of silver so high that it was unrealistic for them to issue new silver coins.

The Government was in possession of a large number of Spanish dollars which had been captured by the English, one ship alone in 1804 was valued at some 3,000,000 dollars. They believed that by counter-marking the coins and circulating them it would alleviate the demand for change.

The Bank of England was originally going to issue the coins at a value of 4s 6d, but realised that the bullion value of the coins was actually 4s 8d. In effect each coin could be melted down for a profit of 2d each. The value of the coins was thus set to 4s 9d.

The coins were counter-marked with an effigy of the King's head, which was the same stamp used at Goldsmiths' Hall for marking silver plate. This led to the contemporary saying: "The Bank (of England) in order to make its money pass, stamped the head of a fool (George III) on the neck of a butt." (Charles IV) I have read that the saying was first used by the "City Wag." I am not sure if this refers to a newspaper or magazine?

The coins were widely counterfeited and in 1804 an octagonal counter-mark was used but I believe it wasn't long before the counterfeiters were a plenty once again.

I hope that helps!

No problem, I only learnt about these a few months back myself. It's a neat little story though and a really interesting read.

I didn't see your email, sorry about that! I appreciate the feedback however Definitely get your pennies in order and get some pics up!

Al, you wont regret it once it's all said and done, you'll be able to have a glance over your coins at any time without digging them all out!

You are correct in that they did darken some half-pennies, but they did also darkened a few pennies too because of the same issue (ghosting). These were definitely 1944, 1945 and 1946, but while I can't find any literature on it right now I'm also pretty sure the 1934 pennies were darkened as well..

A nice 1884 though! Lovely

another one for you to see



Kind regards Al

alscoinsandnotes,
Your 1729 doesn't appear to have a counter-stamp.

PERTINAX
g,day
I used this forum cos it was easy to connect to
but I think I will just start a new one to keep the flow going hey!!

Regards Al

UK PH

none of the above I meant a new post. which I did with the 1806 1d and reverse.
I figure if I use a new post each time it will rack up the numbers hey!!
Regards Al

g,day Alan
my aim is to establish contact with people to eventually trade or swap for specific coins I have no intention to sell anything, in fact, all my completed sets of coin are in the bank and willed to my grandchildren, so I have acquired new interests in my dotage to keep me going. I am going to use my leftovers in coin which numbers in the 1000,s to try and collect some US 1.5.25 cent in mint and date order,to see if I can get to a full set, I already completed a couple of sets of the 1999 to 2008 State Quarters and I am very proud to actually finish them.
Kind Regards Al[/b]