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Sixpence ENGLAND, KINGDOM - WILLIAM III, 1694-1702 - 1697, Norwich ss
Munthandel G.Henzen 
10
Seit 10 Jahren bei MA-Shops
7244 Bewertungen,
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Weltweiter Versand
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Differenzbesteuert nach §25a UStG
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weight 2,89gr. | Ø 21mm.
first bust
reeded edge
obv. Laureate and draped bust of William III right, N below,
surrounded by the legend GVLIELMVS • III • DEI • GRA •
rev. Crowned cruciform shields England, Scotland, France and Ireland,
and shield of Orange-Nassau in the centre, 16 - 97 above, surrounded by
the legend •MAG - BR•FRA - ET•HIB - REX•
William III of Orange-Nassau was born on 14 November 1650 in The Hague in the Netherlands. He was an only child and never knew his father William II who died of smallpox before his birth. His mother was Mary eldest daughter of Charles I of England. William was appointed Stadtholder (chief magistrate) and captain-general of the Dutch forces in 1672 to resist the French invasion of the Netherlands. He forced Louis XIV to make peace in 1678 and then concentrated on building up a European alliance against France. In 1677 he married his cousin Mary, eldest daughter of James, Duke of York, the future James II. The marriage was intended to repair relations between England and The Netherlands following the Anglo-Dutch wars. William was a successful soldier, but had several male favourites, was dour, asthmatic, 12 years older and several inches shorter than his English wife Mary who was a reluctant bride. In the years 1688-1694 he ruled England together with his wife Mary. Mary died of smallpox in 1694 and had no surviving children. William now ruled alone until his death in 1702.
A King William III Silver Sixpence minted at the Provincial mint of Norwich in 1697 during the Great Recoinage of this King′s reign. English currency was in disarray in the late 17th century. Hand struck silver coins from prior to 1662 had been clipped around the edges and thus their value (weight) reduced so that they were no longer a viable tender, especially abroad. The machine struck silver coins produced by the Royal Mint in the Tower of London after 1662 were protected from clipping by an engraved, decorated and milled edge, but were instead forged, both by casting from counterfeit moulds and by die stamping from counterfeit dies. By 1696 forged coins constituted circa 10% of the nation′s currency. The currency also had a third problem: its value as silver bullion in Paris and Amsterdam was greater than the face value in London, and thus vast quantities of coins were melted and shipped abroad — an arbitrage market. New Acts of Parliament were passed in order to create the Bank of England and protect national military security. This situation also triggered William Lowndes of the Treasury to ask the warden of the Royal Mint, Isaac Newton, for help. Branch mints were established at Bristol, Chester, Exeter, Norwich, and York to assist with the work of recoinage. Between 1696 and 1700 the value of silver struck was £5,106,019 compared to £3,302,193 coined in the preceding 35 years. Old coin was taken back by weight rather than face value. On 10 June 1696 a Proclamation was issued, requiring all Receivers and Collectors of the Publick Taxes to take hammered Silver Money at five shillings and eight Pence an Ounce. The recoinage was not a financial success. Production tailed off by 1698. It had proved impossible to maintain a system based on gold and silver because of the variation in the bullion values of each metal. In practice this usually meant that silver was worth more melted down into bullion. England eventually committed itself to a gold standard. The only way to maintain silver as coin was to reduce the silver content so that the coin′s nominal value was more than the bullion of the same weight. This didn′t happen until the Great Recoinage of 1816.
KM.484.16 | Spink 3535
attractive specimen
vf
first bust
reeded edge
obv. Laureate and draped bust of William III right, N below,
surrounded by the legend GVLIELMVS • III • DEI • GRA •
rev. Crowned cruciform shields England, Scotland, France and Ireland,
and shield of Orange-Nassau in the centre, 16 - 97 above, surrounded by
the legend •MAG - BR•FRA - ET•HIB - REX•
William III of Orange-Nassau was born on 14 November 1650 in The Hague in the Netherlands. He was an only child and never knew his father William II who died of smallpox before his birth. His mother was Mary eldest daughter of Charles I of England. William was appointed Stadtholder (chief magistrate) and captain-general of the Dutch forces in 1672 to resist the French invasion of the Netherlands. He forced Louis XIV to make peace in 1678 and then concentrated on building up a European alliance against France. In 1677 he married his cousin Mary, eldest daughter of James, Duke of York, the future James II. The marriage was intended to repair relations between England and The Netherlands following the Anglo-Dutch wars. William was a successful soldier, but had several male favourites, was dour, asthmatic, 12 years older and several inches shorter than his English wife Mary who was a reluctant bride. In the years 1688-1694 he ruled England together with his wife Mary. Mary died of smallpox in 1694 and had no surviving children. William now ruled alone until his death in 1702.
A King William III Silver Sixpence minted at the Provincial mint of Norwich in 1697 during the Great Recoinage of this King′s reign. English currency was in disarray in the late 17th century. Hand struck silver coins from prior to 1662 had been clipped around the edges and thus their value (weight) reduced so that they were no longer a viable tender, especially abroad. The machine struck silver coins produced by the Royal Mint in the Tower of London after 1662 were protected from clipping by an engraved, decorated and milled edge, but were instead forged, both by casting from counterfeit moulds and by die stamping from counterfeit dies. By 1696 forged coins constituted circa 10% of the nation′s currency. The currency also had a third problem: its value as silver bullion in Paris and Amsterdam was greater than the face value in London, and thus vast quantities of coins were melted and shipped abroad — an arbitrage market. New Acts of Parliament were passed in order to create the Bank of England and protect national military security. This situation also triggered William Lowndes of the Treasury to ask the warden of the Royal Mint, Isaac Newton, for help. Branch mints were established at Bristol, Chester, Exeter, Norwich, and York to assist with the work of recoinage. Between 1696 and 1700 the value of silver struck was £5,106,019 compared to £3,302,193 coined in the preceding 35 years. Old coin was taken back by weight rather than face value. On 10 June 1696 a Proclamation was issued, requiring all Receivers and Collectors of the Publick Taxes to take hammered Silver Money at five shillings and eight Pence an Ounce. The recoinage was not a financial success. Production tailed off by 1698. It had proved impossible to maintain a system based on gold and silver because of the variation in the bullion values of each metal. In practice this usually meant that silver was worth more melted down into bullion. England eventually committed itself to a gold standard. The only way to maintain silver as coin was to reduce the silver content so that the coin′s nominal value was more than the bullion of the same weight. This didn′t happen until the Great Recoinage of 1816.
KM.484.16 | Spink 3535
attractive specimen
vf
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