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Period: Jan 1, 1000 to
Years
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Jul 1, 1158
Medieval
Medieval CurrencysIn 1158, a new coinage was introduced by King Henry II (known as the Tealby penny). This became the standard until the 20th century and is today known as sterling silver. Sterling silver is harder than the fine silver -
Jul 1, 1344
Gold Noble
The English currency was almost exclusively silver until 1344, when the gold noble was successfully introduced into circulation. In the reign of Henry IV (1412–1421), the penny was reduced in weight to 15 grains (0.97 g) of silver, with a further reduction to 12 grains (0.78 g) in 1464. -
Jul 1, 1526
Tudor
During the reigns of Henry VIII and Edward VI, the silver coinage was drastically debased, although the pound was redefined to the troy pound of 5,760 grains in 1526. -
Unofficial gold standard
The PoundIn 1663, a new gold coinage was introduced based on the 22 carat fine guinea. Fixed in weight at 44½ to the troy pound from 1670, this coin's value varied considerably until 1717, when it was fixed at 21 shillings (21/-, 1.05 pounds). However, despite the efforts of Sir Isaac Newton, Master of the Mint, to reduce the guinea's value, this valuation overvalued gold relative to silver when compared to the valuations in other European countries -
Bank Of England
The BankIncorporation of the Bank of England -
Bank Notes
Extended the Bank Notes Act 1833 to make Bank of England notes under £5 in value legal tender; act also applied to Scotland, making English 10/- and £1 legal tender for the first time. Bank of England withdrew low-denomination notes in 1969 and 1988, removing legal tender from Scotland. Here is a commerical about Money.. and Printers. -
Bank Act of 2009
As a consequence of the Financial Crisis of 2007-08, this proposed Bill will alter the right of banks in Scotland and Northern Ireland to issue their own notes, and consequential provisions related to the powers of the Bank of England.
