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<p>[QUOTE=&quot;HammeredCoin, post: 2232912, member: 75598&quot;]Is that the coin you actually own?&nbsp; I haven&#039;t yet embarked on my Noble collection, as I am using my funds to build up my penny collection.&nbsp; However, I absolutely adore the look of the Edward III Nobles.&nbsp; Not a cheap purchase but will certainly be a sought after coin for time immemorial!&nbsp; Congrats on the fantastic purchase!</p><p><br /></p><p>Henry III and Edward I both tried to introduce a gold coin into circulation and both failed miserably.&nbsp; Any surviving examples of these coins are some of the rarest of the hammered coins of the late medieval period in England.</p><p><br /></p><p>The reason why the failed I find really interesting.&nbsp; Both Henry III and his son (Edward I) introduced the gold coins, however, they fundamentally mis-priced the face value of these coins relative to the raw gold bullion market.&nbsp; Thus, any of the coins originally produced were hoarded and melted down and sold off to continental Europe for a tidy profit.&nbsp; This was realized in short order and the crown stopped the production of the coins.</p><p><br /></p><p>Also, because of the efforts of both Henry III and Edward I to re-coin the flawed silver currency that was currently in circulation (Henry III from voided short cross to voided long cross and Edward I to the new long cross in 1279) spurred massive demand in silver bullion imported from continental Europe and thus was needed to be paid for in gold bullion.[/QUOTE]</p><p><br /></p>

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