Currency During the Tenure of the British
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BRITISH COINS IN THE BEGINNING OF THE 19TH CENTURY CURRENCY DURING THE TENURE OF THE BRITISH In 1800, Malta passed under the control of Great Britain, but it was only in 1886 that the British Pound Sterling became the sole legal tender of the archipelago. Third Farthing 1 Farthing Halfpenny 1/1920 Pound 1/960 Pound 1/480 Pound BRITISH COPPER COINS - SOLE LEGAL TENDER Copper Bronze/Copper Copper The Order of St John’s progressive demonetization of the coinage triggered in 1827 with the abolishing of all copper Tari, Grani and Piccioli coins. No copper coins, other than the British Penny, Halfpenny, Farthing and Grain, were considered legal tender after 25 April 1828. The Grain was specifically produced for Malta at the Royal Mint in England, to make up for the disparity in the value of the Farthing (the standard smallest denomination in the Pound system) and local petty transactions. BRITISH GOLD AND SILVER COINS - SOLE LEGAL TENDER A second major step to establish the British currency as the sole legal tender in Malta and Gozo was taken in 1855 when British gold and silver coins were declared as the only means for payment. Nonetheless, the business and banking community continued to make Penny 2 Pence 3 Pence Groat 6 Pence use of gold and silver coins minted by the Order of St John, as well as some other foreign 1/240 Pound 1/120 Pound 1/80 Pound 1/60 Pound 1/40 Pound currencies, particularly the Sicilian Dollar. The situation changed in 1885, when the Italian Bronze/Copper Copper Silver Silver Silver Government announced that the Sicilian Dollar ceased to be legal tender in the Kingdom of Italy. Likewise, all remaining gold and silver coins of the Order of St John had to be withdrawn by 30 November 1886, thereby leaving only the British currency in circulation. POUNDS, SHILLINGS, PENNIES AND FARTHINGS At that time, the British Pound did not follow the decimal system. A Pound (Maltese: Lira) was worth 20 Shillings (Maltese: Xelin), that was in turn equivalent to 12 Pence (Maltese: Sold). A Penny was subdivided into 4 Farthings (Maltese: Tliet Ħabbiet). In the Maltese Islands, the Farthing was further split into 3 Grains (Maltese: Ħabba). Shilling Florin Half Crown Crown Half Sovereign 1/20 Pound 1/10 Pound 1/8 Pound 1/4 Pound 1/2 Pound DIFFERENT METALS EMPLOYED Silver Silver Silver Silver Gold Gold, silver and copper were employed for the respective denominations. THE END OF THE BRITISH POUND IN MALTA The British Pound remained the sole legal tender in Malta until the introduction of the Maltese Lira in 1972. Pound Sterling 2 Pounds 5 Pounds Gold Gold Gold © 2021 Publishing.