The Provincial Token-Coinage
Coins traditionally contained the value of the metal they were made from, less a nominal amount for the monarch and mint master and could only be produced by Royal decree. By the sixteenth century the penny and its fractions had been reduced in size by inflation becoming inconveniently small to manufacture and use. The general population resorted to using token coins containing less than their intrinsic value of metal until the monarch provided sufficient usable coinage for the needs of trade.
Trade tokens were issued in three distinct periods, the first...

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