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The silver penny was the principal coin in circulation from the 8th century until 13th century  However, in 1279, the groat, worth 4d was introduced, with the half groat following in 1344. Reforms in 1464 saw a reduction in value of the coinage in both silver and gold, with the noble renamed the ryal and the angel introduced.

The reign of Henry VII saw the introduction of the shilling (known as the testoon)  and the pound (known as the sovereign) In 1526, several new denominations of gold coins were added, including the crown and half crown worth 5/- and 2/6. Henry VIII's reign saw a high level of debasement which continued into the reign of Edward VI . However, this debasement was halted in 1552 and a new silver coinage was introduced, including coins for 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. The reign of Elizabeth I  saw the addition of silver ¾d and 1½d coins, and Gold coins included the half crown, crown, angel, half sovereign and sovereign. During Elizabeth's reign was produced the first "milled" coins.

Following the succession of the Scottish King James VI a new gold coinage was introduced, including the spur ryal (15/-), the unite (20/-) , the rose ryal (30/-).and the laurel, worth 20/-. The first base metal coins were also introduced, and During the English Civil War, a number of siege coinages were produced.

Following the restoration of the monarchy the was the ending of production of hammered coins in 1662. The guinea was introduced in 1663, soon followed by the ½, 2 and 5 guinea coins and the silver coinage  of denominations of 1d, 2d, 3d, 4d and 6d, 1/-, 2/6 and 5/-. Due to the widespread export of silver the copper 1d and 2d coins and the gold ⅓ guinea (7/-) were introduced

To alleviate the shortage of silver coins, between 1797 and 1804, the Bank of England counterstamped Spanish dollars (8 reales) and other Spanish and Spanish colonial coins for circulation.

In 1816, a new silver coinage of 6d, 1/-, 2/6 and 5/-.was issued.  followed by a new gold coinage  of 10/- and £1 coins, known as the half sovereign and sovereign. The silver 4d coin was reintroduced in 1836, followed by the 3d and 4d coin issued only for colonial use. In 1848, the 2/- florin was introduced, followed by the  double florin in 1887. In 1860, copper was replaced by bronze in the farthing, halfpenny and penny.

During the First World War the silver standard was reduced to .500. In 1937, a nickel-brass 3d coin was introduced,and in 1947, the remaining silver coins were replaced with cupro-nickel.

In 1968 were introduced the first decimal cupro-nickel 5p and 10p coins The curved equilateral heptagonal, cupro-nickel 50p coin and the bronze ½p, 1p and 2p coins  6d coins circulated at a value of 2½p until 1980. In 1982, the word "new" was dropped from the coinage and a 20p coin was introduced, followed by a £1 coin in 1983. The ½p coin was last produced in 1983 and the 1990s saw the replacement of bronze with copper-plated steel and the reduction in size of the 5p, 10p and 50p coins. The modern circulating 2£ coin  was introduced in 1998.  At present, the oldest circulating coins. are the 1p and 2p copper coins introduced in 1971.
 
In 1992 the composition of the 1p and 2p was changed from bronze to copper clad steel. .In April 2008 an extensive redesign of the coinage was unveiled, to be issued in summer 2008.


 

 

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