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<p>[QUOTE=&quot;yakpoo, post: 1665158, member: 18157&quot;]<img src="http://i664.photobucket.com/albums/vv10/Yakpoo/Woods-Obv_zps26ad37c9.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /><img src="http://i664.photobucket.com/albums/vv10/Yakpoo/Woods-Rev_zpsdce618f0.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>The Wood&#039;s Hibernia Half Cent is one of my favorite Irish coins (&quot;Hibernia&quot; being the classical Latin word for Ireland) and its history involves some notable historical figures (King George I, Sir Issac Newton, and Jonathan Swift).</p><p><br /></p><p>In 1715, William Wood created a partnership to build iron foundries around England to benefit from the Whig victories of 1714. At the same time, the Earl of Sunderland (First Lord of the Treasury) obtained a Royal patent to create coinage for Ireland and the Colonies. As luck would have it, he was financially ruined in the <b><a href="http://en.wikipedia.org/wiki/South_Sea_Bubble" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/South_Sea_Bubble" rel="nofollow">South Sea Company Bubble of 1720 </a></b>. The coinage patent &quot;somehow&quot; became the property of the Duchess of Kendal (King George&#039;s mistress - and, essentially, the deFacto Queen of England). William Woods purchased the patent from the Dutchess for 10,000 pounds.</p><p><br /></p><p>The Patent outlined the coins&#039; specifications, amounts to be minted, fees paid to the King, etc. Wood&#039;s coins minted for the Colonies (Rosa Americana) were specified to be 120 per pound. Wood&#039;s coins for Ireland were specified to be 60 coins per pound. One would think the Hibernia coins would be sought after (twice as much copper), but Irish nationalism (inflamed by Irish author Jonathon Swift) caused a boycott against the coins.</p><p><br /></p><p>Jonathan Swift (Dean of St Patrick&#039;s Cathedral in Dublin), writing under the pseudonym &quot;M. B. Drapier&quot;, created a series of seven (7) political pamphlets condemning the introduction (dumping) of privately minted copper coinage in Ireland. The boycott persisted even after the Master of the Mint, Sir Issac Newton, confirmed the assay quality of the Wood&#039;s Hibernia coins. The issue was whether or not Ireland could be compelled to accept non-silver/gold coinage as legal tender (sound familiar?).</p><p><br /></p><p>Due to the costs William Woods incurred buying the patent, paying the King, and creating coins with twice as much copper as the Rosa Americana coins...William Woods was losing his shirt. Since no one in Ireland would take the coins, William Woods got permission to recuperate some of his expenses by sending the coins to the Colonies.</p><p><br /></p><p>Events surrounding the Wood&#039;s Hibernia coinage is a very interesting, complex subject that this simplistic explanation doesn&#039;t really do justice. I love these coins because they are a lasting connection to a very interesting period of history...and some interesting characters.[/QUOTE]</p><p><br /></p>

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