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British Sterling Currency - Numismatics,
One Pounds
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One Pound
Elizabeth I 1558-1603 AD
Royal Monarchy
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Elizabeth I
When Elizabeth I came to the throne in 1558, she inherited a difficult financial situation and a debt of £227,000. Over £100,000 of this was owed to the Antwerp Exchange who charged an interest rate of 14%. Throughout her reign, Elizabeth was engaged in expensive financial issues, especially foreign policy. By instinct, Elizabeth was a careful spender and believed in strict housekeeping. However, she could not avoid certain European dimensions that cost large sums of money. To her credit, when Elizabeth died in 1603, the nation was only in debt to the tune of £350,000 - £123,000 more than in 1558, but spread over the duration of her reign, this represented just under £3,000 a year. At first glance this seems to have been a remarkable achievement in an era of much European intrigue. However, the one thing Elizabeth failed to do was to address the whole mechanism of finance and the financial structure of England. This remained essentially unreformed and did not bode well for the reign of James I.
Elizabeth I, 1558-1603, Gold Pound (1591-95)
Weight: 11.08 grams, Diameter: 39mm. Sixth issue, tun / tun mintmarks, old bust of queen left with elaborate dress and profusion of hair, ELIZABETH D G ANG FRA ET HIB REGINA, reverse: crowned square shield with E R at sides.
Sir Richard Martin who became Master of the Mint and Lord Mayor of London was born in 1534. He adopted the business of "goldsmith" and in 1594 is mentioned as one of the goldsmiths to Queen Elizabeth. In 1559-60, he was appointed Warden of the Mint, and held this office until 1594-5, and perhaps later. in 1580-81, he was appointed Master of the Mint and appears to have held this office until his death in 1617. In September 1597, he petitioned the Queen for 16 pence on every pound weight of silver coined on account of his losses in connection with the mint. He declared he had done good service in apprehending counterfeiters of the coin, and that the money made was richer by £30,000 at the least than the like quantity made by the former Mint Master.
Weight: 11.08 grams, Diameter: 39mm. Sixth issue, tun / tun mintmarks, old bust of queen left with elaborate dress and profusion of hair, ELIZABETH D G ANG FRA ET HIB REGINA, reverse: crowned square shield with E R at sides.
Sir Richard Martin who became Master of the Mint and Lord Mayor of London was born in 1534. He adopted the business of "goldsmith" and in 1594 is mentioned as one of the goldsmiths to Queen Elizabeth. In 1559-60, he was appointed Warden of the Mint, and held this office until 1594-5, and perhaps later. in 1580-81, he was appointed Master of the Mint and appears to have held this office until his death in 1617. In September 1597, he petitioned the Queen for 16 pence on every pound weight of silver coined on account of his losses in connection with the mint. He declared he had done good service in apprehending counterfeiters of the coin, and that the money made was richer by £30,000 at the least than the like quantity made by the former Mint Master.
Value estimated
£18,000 - £20,000
£18,000 - £20,000
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