Numismatics Under Elizabeth I: The Golden Age of English Coinage
Explore the fascinating world of Elizabethan coinage and numismatics under Queen Elizabeth I. Discover how her reign transformed English currency and left a legacy still cherished by collectors today.
Introduction to Numismatics in Elizabethan England
Numismatics—the study and collection of coins, currency, and medals—offers a unique window into history. For collectors and historians alike, the reign of Queen Elizabeth I of England (1558–1603) is considered one of the most transformative periods in English numismatic history. The Elizabethan era marked a turning point in coinage reform, artistic expression on coins, and the assertion of royal authority through currency.
This blog post will delve deep into Elizabeth I’s coinage system, her reforms, the symbolism embedded in her coins, and why these coins remain a cornerstone of English numismatic collections.
The Historical Context of Elizabethan Coinage
When Elizabeth I ascended the throne in 1558, England was facing a monetary crisis. Her predecessors, Henry VIII and Edward VI, had debased the coinage significantly. Gold and silver coins were reduced in precious metal content, leading to economic instability and loss of trust in English currency.
Elizabeth inherited this economic mess and, understanding the importance of sound money, initiated a sweeping currency reform to restore public confidence. Her efforts laid the foundation for a more stable economy and brought prestige back to the English Mint.
The Great Recoinage of 1560–61
One of Elizabeth’s earliest major achievements in coinage was the Great Recoinage of 1560–61. This was not merely a technical reform; it was a political and economic statement.
Key Aspects of the Great Recoinage:
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Purging debased coins: Older coins with low silver content were recalled and replaced.
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Introduction of higher-quality coinage: New coins were minted with a standard silver content of .925 (known as sterling silver), ensuring both domestic and international trust.
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Public cooperation: Citizens were encouraged to exchange old coins for new ones. This initiative was remarkably successful and helped stabilize England’s economy.
The recoinage effort was led by Sir Thomas Gresham, whose famous principle—Gresham’s Law ("Bad money drives out good")—highlighted the dangers of debasement. Under Elizabeth, this principle was reversed as good money once again became the standard.
Types of Coins Issued Under Elizabeth I
Elizabethan coinage is known for its variety, beauty, and symbolism. Here are the major types of coins minted during her reign:
1. Gold Coins
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Sovereign: The most prestigious gold coin, worth 30 shillings. It often featured Elizabeth seated on a throne.
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Half Sovereign
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Angel and Half Angel: These bore religious imagery, such as St. Michael slaying a dragon, symbolizing good triumphing over evil.
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Ryal (or Rose Noble): Often used for ceremonial purposes.
2. Silver Coins
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Shilling: The most commonly used silver coin, often featuring the queen’s bust facing left or right, and intricate designs.
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Sixpence and Threepence
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Groat (4d) and Half-Groat (2d)
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Penny, Halfpenny, and Farthing
3. Testoons and Milled Coins
One of the more interesting introductions was the milled coin, produced using machinery instead of hammering. Though the technology was in its infancy, it marked the beginning of a more modern coinage system.
The 1561 Testoon, for example, was one of the first English coins produced by milling. Though not widely adopted during her reign, the innovation laid groundwork for future mechanization of the minting process.
Artistic Features and Symbolism
Elizabeth’s coins were not just currency—they were political propaganda tools and artistic masterpieces. Here are some notable features:
1. Portraiture
Elizabeth’s image on her coins was carefully designed to project majesty, strength, and youth. Unlike her predecessors, she insisted on consistent and idealized portraits. These coins served as tools of royal branding, reinforcing her image across the realm.
2. Inscriptions and Mottos
Common inscriptions included:
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“ELIZABETH D.G. ANG. FR. ET HIB. REGINA” (Elizabeth, by the Grace of God, Queen of England, France, and Ireland)
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“POSUI DEUM ADIUTOREM MEUM” (I have made God my helper)
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“CIVITAS LONDON” for coins minted in London
These Latin mottos emphasized divine legitimacy, national unity, and royal authority.
3. Heraldry
Coins featured Tudor roses, shields, lions, and ships—each with deep symbolic meaning, such as the assertion of naval power or the unity of England and Wales.
Mints and Mint Marks
During Elizabeth’s reign, coins were produced at several mints, including:
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London (Tower Mint)
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York
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Canterbury
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Durham
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Bristol
Each mint used distinctive mint marks—small symbols to identify where and when a coin was struck. Some common Elizabethan mint marks include:
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Cross
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Hand
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Key
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Rose
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Asterisk
These tiny symbols help modern numismatists date and authenticate coins from her era.
Counterfeiting and Challenges
Despite her reforms, Elizabeth’s coinage faced issues:
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Counterfeiting: Due to the improved quality of silver, counterfeiting became a lucrative crime. The Crown responded with harsh punishments, including execution.
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Clipping: People would shave small amounts of precious metal from coin edges. This led to the future adoption of milled edges in later periods.
Nonetheless, the high silver content and artistry of Elizabethan coins made them hard to replicate accurately, giving them a certain prestige and desirability.
Numismatic Legacy of Elizabeth I
Elizabethan coins are among the most collected and studied of all English monarchs. Why?
1. Historical Significance
Coins from her reign represent the birth of modern England, marked by religious reformation, colonial expansion, and naval power.
2. Aesthetic Appeal
The designs are exquisitely detailed, even by modern standards. Collectors appreciate the craftsmanship and symbolism embedded in each piece.
3. Relative Availability
Thanks to the large volumes minted, many Elizabethan coins have survived, making them accessible (though not cheap) for collectors and historians.
4. Investment Value
As tangible pieces of history, these coins retain and often increase in value over time—especially rare variants or well-preserved specimens.
How to Collect Elizabethan Coins Today
If you're considering starting a collection focused on Elizabeth I’s coinage, here are some tips:
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Start with common denominations, such as shillings or sixpence, to familiarize yourself with the designs and grading.
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Buy from reputable dealers who provide authenticity guarantees.
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Learn about coin grading, mint marks, and distinguishing features.
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Consider joining numismatic societies such as the British Numismatic Society for resources and networking.
Remember, collecting Elizabethan coins is not just a hobby—it’s a connection to one of the most dynamic periods in English history.
Conclusion
The world of numismatics under Elizabeth I is rich with history, artistry, and economic reform. Her coins were more than just money—they were symbols of stability, power, and national pride during a time of great change.
Whether you're a seasoned collector or a curious history enthusiast, studying Elizabethan coinage opens a unique window into the politics, culture, and economics of Tudor England. These coins have survived centuries, continuing to tell stories of ambition, artistry, and royal legacy.
If you're interested in starting a collection or simply learning more about Elizabethan numismatics, there's no better time than now to dive in. After all, each coin holds a piece of history—and maybe even a little mystery.
Keywords Elizabeth I coinage, Elizabethan coins, Tudor numismatics, English coinage history, Great Recoinage, collectible coins, silver shillings, gold sovereign Elizabeth I, Elizabethan mint marks, numismatics blog
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