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<p>[QUOTE=&quot;johnmilton, post: 8543438, member: 101855&quot;]Part 4</p><p><br /></p><p><b><u>Privately Issued Tokens </u></b></p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp;&nbsp; Noting that a privately owned concern, the Bank of England, had issued tokens, other businesses were emboldened to issue tokens as well. These pieces, which some collectors call “post Condor tokens” were made in copper and silver. The copper pieces were issued in denominations ranging from a farthing to four pennies.</p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp;&nbsp; The silver pieces were issued in denominations ranging from six pence to half a crown (two and a half shillings). In an effort to avoid legal issues with the British Government, the issuers inserted language on these pieces which was intended to restrict their use to a limited geographic area. For example, one piece is my collection reads:</p><p><br /></p><p><br /></p><p><i>“Issued in Bristol August 12, 1811 to facilitate trade. Payable by Messrs Fras Garratt, Wm Terrell, Edwd Bird, Lant Beck &amp; Frans H. Grigg”</i></p><p><br /></p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp;&nbsp; The British Government didn’t like these privately issued forms of money, but it had little choice but to accept their usage because of the severe shortage of “good money” to run the economy. Unlike the Condor tokens, these pieces did not attract a large collector base at the time. They were made for utilitarian purposes, not coin cabinets.</p><p><br /></p><p><br /></p><p>[ATTACH=full]1509221[/ATTACH]</p><p><br /></p><p>A Privately Issued &quot;Cornish Penny&quot; </p><p><br /></p><p>[ATTACH=full]1509222[/ATTACH] </p><p><br /></p><p>A Privately Issued Silver Shilling</p><p><br /></p><p><b><u>British Coinage Reform after the Napoleonic Wars</u></b></p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp;&nbsp; Once Napoleon had been defeated and exiled permanently, the British economy returned to normal, but the British monetary system would never be the same. Parliament reduced the weight of the silver coinage to the point where the melt value of the coins was lower than their face value. This wise policy insured that the coins would remain in circulation. The Government replaced the guinea, which was worth 21 shillings, with the sovereign, which had a value of 20 shillings.</p><p><br /></p><p>&nbsp;&nbsp; &nbsp; &nbsp;&nbsp; These reforms remained in effect for the next century and brought much needed stability to the British monetary system. Only the calamity posed by the next great conflict, World War I, would require the British to make further changes to their coins and currency.</p><p><br /></p><p>[ATTACH=full]1509223[/ATTACH]</p><p><br /></p><p>A &quot;New Shilling&quot; After the Monetary Reform</p><p><br /></p><p>[ATTACH=full]1509224[/ATTACH] </p><p><br /></p><p>The British Gold Sovereign, Valued at 20 Shillings, Replaced the Guinea, Valued at 21 Shillings</p><p><br /></p><p>[ATTACH=full]1509228[/ATTACH] </p><p><br /></p><p>A 1798 Guinea[/QUOTE]</p><p><br /></p>

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