Pound Sterling and the Sovereign: Difference between revisions

Revision as of 15:41, 3 May 2010

While the history of the Pound Sterling itself already begun during the 8th century, it lasted another 150 years until the first effigy of a monarch was shown on the coins.

Brief History of the Monetary Development in Britain

The first type of a, to some extent, standardised currency emerged about 2000 years ago, when the strong Greek influence caused, that their coins were simply copied by the people on the British Isles. Later, after the Roman invasion, also the coinage system changed due to the Roman influence. But compared to the modern Pound Sterling one has to consider the introduction of the silver penny as the most remarkable form of a precursor for the recent currency. Historians assume that it was not until the year 775AD, that the silver penny or then already called “sterling” was the most prevalent and authorised currency.

Monarchs and Coins

It was King Athelstan of England who had the idea that his image should be pressed on the coins. The idea implied that the more the coins were spread around the kingdom, the more famous he as the King could become. So from around 930AD his image was shown on the coins. From that time on it became a tradition for most of the regents to have their head (wearing a Crown) depicted on the coins.

Modern Times

With the beginning of Elizabeth II's reign new coins were introduced. Since then there have been three further changes of the circulating coinage. Her Majesty’s portrait was renewed in 1968, 1985 and most recently in 1998. In 2008 a completely revised version of all coins was published. It shows the Queen’s effigy on the one side and on the other side every coin from 1p to 1£ shows another part of the Royal Coat of Arms. If you put the different coins together you get the whole image of the Royal Coat.

Sources

http://www.telegraph.co.uk/news/1399693/A-history-of-sterling.html

http://www.royal.gov.uk/MonarchUK/Symbols/Coinageandbanknotes.aspx

http://news.bbc.co.uk/2/hi/uk_news/7326491.stm

http://www.royalmint.com/

http://www.royalmint.com/web/MultimediaFiles/NEWDESIGNS_DESIGNSREVEALED.JPG

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 == Modern Times ==
-With the beginning of [[Elizabeth II]] reign new coins were introduced. Since then there has been three further changes of the circulating coinage. Her Majesty’s portrait was renewed in 1968, 1985 and most recently in 1998.
+With the beginning of [[Elizabeth II]]'s reign new coins were introduced. Since then there have been three further changes of the circulating coinage. Her Majesty’s portrait was renewed in 1968, 1985 and most recently in 1998.
 In 2008 a completely revised version of all coins was published. It shows the Queen’s effigy on the one side and on the other side every coin from 1p to 1£ shows another part of the [[ Royal Coat of Arms]]. If you put the different coins together you get the whole image of the Royal Coat.
 == Sources ==