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<p>[QUOTE="The Eidolon, post: 3788944, member: 102103"]Interesting! I've read that most copper coinage circulating in the late 1700s was counterfeit in the UK, but didn't know Ireland had that problem as well. The penalty for copper coin counterfeiting wasn't as severe as for gold and silver, which generally resulted in the death penalty. Copper wasn't considered "real" money and couldn't always be freely converted to gold or silver.</p><p><br /></p><p>Thanks to a mismanaged bimetallic system, silver coins were undervalued at the time compared to their metal content, and they disappeared from circulation. Copper coinage had to fill up some of the gap, especially after the French Revolution let to the suspension of gold convertibility. Existing coppers were so worn that counterfeiters could pass very underweight coinage for a profit, and good coins were in such short supply people pretty much just had to accept fakes at par.[/QUOTE]</p><p><br /></p>
[QUOTE="The Eidolon, post: 3788944, member: 102103"]Interesting! I've read that most copper coinage circulating in the late 1700s was counterfeit in the UK, but didn't know Ireland had that problem as well. The penalty for copper coin counterfeiting wasn't as severe as for gold and silver, which generally resulted in the death penalty. Copper wasn't considered "real" money and couldn't always be freely converted to gold or silver. Thanks to a mismanaged bimetallic system, silver coins were undervalued at the time compared to their metal content, and they disappeared from circulation. Copper coinage had to fill up some of the gap, especially after the French Revolution let to the suspension of gold convertibility. Existing coppers were so worn that counterfeiters could pass very underweight coinage for a profit, and good coins were in such short supply people pretty much just had to accept fakes at par.[/QUOTE]
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