Dr. Richard Kelleher Coins of the Department of Coins and Medals, Fitzwilliam Museum, Cambridge Tudors and Stuarts Henry VIII Part 3 Introduction In the previous two instalments of Fig.1. St this series on the coins of the Tudor and George’s Stuart monarchs I focussed on the first Chapel, and second coinages of Henry VIII. In Windsor Castle. this month’s article I look at the final Burial place of years of Henry’s reign and the disastrous the kings Henry third coinage in which the king author- VI, Edward IV, ised the debasement of the country’s Henry VII, Henry money in a move that would take a gen- VIII, Charles I, eration to remedy. George III, George IV, Henry VIII – The Final Years William IV, (1544-47) Edward VII, In the final three years of Henry’s George V, and life, which coincided with the period of George VI. his third coinage, the great matters of state centred around dynastic concerns and England’s relations with her near- est neighbours Scotland and France. His sixth wife Catherine Parr had helped reconcile Henry with his daughters Fig.2. The fate of Mary and Elizabeth who, by an Act of the Cluniac Priory Parliament of 1543, were now in line at Castle Acre in of succession after Edward. In these Norfolk was typical final years Henry became obese and of the religious suffered with puss-filled boils, and pos- houses of England sibly gout, ailments that resulted from and Wales. It the leg wound he sustained in a jousting was dissolved in accident in 1536. In the spring of 1544 1537 and given, Henry’s troops attacked lowland Scot- complete with land and shortly after Henry and around its estates, to the 40,000 men invaded France and took the Duke of Norfolk towns of Montreuil and Boulogne. These who turned the were small gains, however, and a lack of remaining monks funds forced the English to make peace out. © Richard in June 1546. Henry died at Whitehall Kelleher. Palace on 28 January 1547 and was buried a few weeks later in St George’s Chapel, Windsor alongside his third wife Jane Seymour, the only spouse to give Although the period 1544-7 was birth to a surviving male heir (Fig.1). known as the third coinage it in fact Fig.3. comprised a series of three progressive Henry VIII, Debaser – The Third Coinage debasements. The first came with an gold half Despite the cash windfall that came announcement in May 1544 and the new sovereign, with the dissolution of the monaster- price offered by the mint drew in enough York. The ies and disposal of their assets Henry’s bullion to mint £149,000 in base silver mint name finances, like his corpulent frame, were and £166,000 in 23ct gold from June 1544 is indicated in poor health (Fig.2). The solution of the to March 1545. Between March 1545 by the small king and his advisors was the ruthless and 1546 there was further debasement, e under the exploitation of the currency to allevia- down to 22ct gold and ‘silver’ containing shield on tethe pressing need for cash, not least just 50% precious metal which effec- the reverse. to fund war with Scotland and France. tively made it billon. In this phase extra © The The allure of the currency as a vehicle capacity was made available for striking Fitzwilliam for raising revenue was no mere acci- coin with the reopening of the mints of Museum, dent. European bullion prices were high York and Canterbury (Fig.3). Southwark, Cambridge. and the anticipated income would allow Bristol and a second mint in the Tower Henry to pursue his military agenda. were opened and struck £372,000 in June 2015 www.treasurehunting.co.uk 41 Coins of the Tudors and Stuarts gold while the silver output across all silver surface wore away the base nature the same design seen on Henry’s earlier the mints in this phase was an impres- of the coin was obvious. This earned coins (Figs.6-8) and likewise the 5 shil- sive £440,000. From April 1546 further Henry the nickname ‘Old Coppernose’. ling crown and it half maintained the debasement took the gold down to 20cts The gold coinage was not asaggres- traditional design (Figs.9 & 10). and reduced the silver down to comprise sively debased as the silver had been. At Despite its poor quality the silver just one-third precious metal. The result the top of the scale was the 20 shilling coinage is of some interest with several of this final debasement was a silver sovereign and for the first time its half developments of note. For the first time coinage of dubious quality. The sig- (Figs.4 & 5). These coins had, as their since the experimental issue of Henry VII nificant copper-alloy composition of the obverse design, the figure of Henry VIII a silver testoon, valued at 12 pence, was coinage meant that when the blanched enthroned holding orb and sceptre. The introduced in 1544 (Figs.11 & 12). The reverse design was changed from the obverse design carries a large portrait of English arms over a double rose that had a fat and bearded king with the reverse appeared on the sovereigns of Henry taking inspiration from the design of VII and earlier Henry VIII pieces to the the crowns with a crowned double rose figures of a lion and dragon support- ing a crowned shield and with a ligated HR in a panel at their feet. A feature of the third coinage, which is visible on the sovereigns and the silver coins, was the new bust of Henry which showed him aged and bearded. The next gold denomination was the angel, valued at 8 shillings. Along with and its half (4s.) and quarter (2s.) the angel continued Fig.9. Henry VIII, gold crown, Bristol. © The Fitzwilliam Museum, Cambridge. Fig.4. Henry VIII, gold Fig.6. Henry VIII, gold angel, London. sovereign, London. © Fig.10. Henry VIII, gold halfcrown, © The Fitzwilliam Museum, The Fitzwilliam Museum, London. © The Fitzwilliam Cambridge. Cambridge. Museum, Cambridge. Fig.7. Henry VIII, gold half angel, London. © The Fitzwilliam Museum, Cambridge. Fig.5. Henry VIII, Fig.8. Henry VIII, gold quarter gold half sovereign, angel, London. The quarter Fig.11. Henry VIII, silver testoon, London. © The denomination was a new coin London. The regnal number Fitzwilliam Museum, type introduced in Henry’s of the king can be rendered Cambridge. third coinage. © The Fitzwilliam as both VIII and 8. © The Museum, Cambridge. Fitzwilliam Museum, Cambridge. 42 www.treasurehunting.co.uk June 2015 Dr. Richard Kelleher flanked by a crowned h and R (for were also produced in small numbers; the older coins began to be removed Henricus Rex). The groat and half groat the farthings in particular are extremely from circulation, further reducing the introduced a slightly different portrait rare. silver available to the mint. Hoards showing a middle-aged king, slightly The third coinage debasement is deposited after 1544 show a marked drop frowning and angled slightly away from known to numismatists as the ‘Great in the number of coins of pre-1544 date, the viewer. There are three variations of Debasement’. It was great in ambition particularly among the groats. bust design seen across the five mints and impact but nothing positive came that produced these coins (Figs.13-18). from it bar a short term cash gain for the When The Ship Goes Down The penny design had up until now king. The effect of the debasement on A fascinating window on maritime featured a miniature seated figure of the circulating currency is an interest- life, and indirectly on the coinage in use the king. In the third coinage this was ing subject and can be gleaned from the in the period, came with the discovery, replaced with a small portrait very much hoard record. This shows that due to the in the 1970s, and lifting of the Mary Rose in the mode that seen on the testoons imbalance between the bullion value of in 1982. This followed several years of (Fig.19). Halfpennies and rare farthings the older silver and the debased silver painstaking work which began with the underwater excavation of the wreck and then its consolidation for the risky pro- cess of lifting it from the sea floor. Since its re-emergence from the bed of the Solent the hull has been carefully con- served and presented to the public in the Mary Rose Museum which has recently been refurbished (Fig.20). The Mary Rose was built in 1511 and Fig.13. Henry VIII, silver groat, sailed against the French in the wars of London. © The Fitzwilliam 1512-13 and 1522. After more than a Museum, Cambridge. decade in reserve she was refitted and saw service in the third French War which would prove to be her last. On 19 July 1545 the Mary Rose sailed into the Solent to confront a French fleet but shortly afterwards sank. We don’t know for certain why but several theories have been proposed ranging from human error, to the wind, to the ship being Fig.12. Henry VIII, silver testoon, overloaded. The ship went down with Bristol. © The Fitzwilliam over 400 men on board; only around 25 Museum, Cambridge. survived. Among the many finds recovered from the wreck were over 200 coins and Fig.15. Henry VIII, silver groat, Bristol. © The Fitzwilliam Museum, Cambridge. Fig.14. Henry VIII, silver groat, Southwark. © The Fitzwilliam Fig.16. Henry VIII, silver groat, Museum, Cambridge.