No one was obligated to accept more than twelve halfpence per transaction. For this reason they were technically considered to be tokens rather than coins and so were declared to be legal tender only in amounts of six pence or less. As such, these coppers were the first royal coinage to have an intrinsic value less than their face value. The first halfpence were to be produced at 40 to the pound avoirdupois or about 175 grains of copper per coin, with the farthing being proportional, which meant the copper content was worth about half the face value of the coin. With the change from hammer coinage to the use of the screw press the king hoped to be able to profitably make a sufficient number of standardized small change coppers for the country. For centuries the crown had produced and continued to mint silver pennies, but they had never issued coppers. On Thursday August 1, 1672, Charles II demonetized tokens and announced the government would begin making copper small change coins in a proclamation entitled "A Proclamation for making currant His Majestie's Farthings and Half-pence of Copper, and forbidding all others to be used" (printed in Peck, pp.
We comply with the Federal Trade Commission 1998 Children’s Online Privacy Protection Act (COPPA).Regal British Copper Coinage: Introductionįor a brief explanation of the British coinage system - Click here.įor a listing of all denominations of both hammered and milled English coins produced during the American colonial period - Click here.įor a description of each denomination of both hammered and milled English coins produced during the American colonial period - Click here.įor a listing of the English rulers during this period - Click here.įor tables detailing the weight and diameter ranges for each issue of circulating British regal halfpence and farthings, from the first issue of Charles II to the 1775 issue of George III - Click here.Ī Brief History of British Regal Copper Production during the Seventeenth and Eighteenth Centuries
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MSU is an affirmative-action, equal-opportunity employer, committed to achieving excellence through a diverse workforce and inclusive culture that encourages all people to reach their full potential. The bottom line is that when someone says they can save or give you a ton of money, it might be worthwhile to ask what denomination they are talking about under $400 in pennies or $98 million in $100 dollar bills. So, the value of a ton of paper bills is worth a great deal of money enough to consider early retirement with a considerable nest egg.
However, a ton (U.S.) of one dollar bills (490 bills in a pound) would be worth approximately $980,000 while a ton of one hundred dollar bills would be worth $98,000,000. These are considerable funds but hardly enough to think about buying a new car or house, let alone enough to consider early retirement. If we move up to dollar coins (weighing 8.1 grams each), a ton of dollar coins would be worth $11,200. Quarters weight 5.67 grams each, so a ton (2,000 pounds) of quarters would be worth $4007. While over $350 is a considerable sum, that is not what I thought about from the phrase of a ton of money. As a Michigan State University Extention educator this led me to wonder how much is a ton of money? Yes, it is 2,000 pounds but what is the value? Of course, it depends upon the denomination of the bill or coin but still made me curious.Ī US penny weighs 2.5 grams each: so a ton of pennies would be worth only $363.54. I recently heard a commercial talk about “a ton of money”.