Scottish coinage

For coins circulating in Scotland since the Act of Union with England in 1707, see Coins of the pound sterling. For modern Scottish banknotes, see Scottish banknotes.

From c.1124 until 1709 the coinage of Scotland was unique, and minted locally. A wide variety of coins, such as the plack, bodle, bawbee, dollar and ryal were produced over that time. For trading purposes of Northumbria and various other places had been used before that time; and since 1709 those of the Kingdom of Great Britain, and then of the UK.

Ancient history and Roman trade (ca. 71–400 AD)

An example of a Dupondius of Vespasian coin (AD 69–79) typical of the Roman coins deposited at the Cardean Fort Angus in the late first century.

The earliest coins in Scotland were introduced by the Roman provinces of Britain that were obtained from trade with the westernmost outpost of the Roman Empire. Far from being isolated, the Celts of Caledonia, north of Hadrian's Wall, developed trade to the general benefit of the population, to the north of the Wall.[1] Roman coins appear over a wide range across the country, especially sites near the Antonine Wall.[1] Hadrian's Wall was also regarded as a means to regulate social traffic and trade north, rather than a military defence against the free northern tribes of the Caledoni.[2] Civil settlements arose along south of the wall with shops and taverns that facilitated trade between the Empire and free north.[3] It is possible to recognise groupings of coins from certain periods, during the Flavian and Antonine occupations; e.g. Cardean Fort Angus where Roman dupondius coins AD 69–79 date to the reign of Emperor Vespasian.[1] Other sites include coins from North Uist dating to the 4th century until recently was though to be beyond the sphere of known trade routes.[4] Other native sites include the Fairy Knowe broch Buchlyvie, and the broch and dun at Gargunnock in Stirlingshire.[1] Some sites include substantial silver treasure hoards most likely buried or abandoned in either Roman or native pots.[5] Indicating the Roman governor of Britain paid large sums of money to the inhabitants of southern Scotland and possibly bribing the northern Caledonians to maintain peaceful relations with Romans and the British. Payments to chieftains are recorded in four areas; Edinburgh, Fife, Aberdeen and the Moray Firth.[6] This may indicate such discoveries (e.g. the Birnie hoard of between 200–400 silver coins) were deposited as votive offerings.[6] Examples including coinage of Constantine II (337–342) with over 20 such hoards found throughout Scotland. Rare examples include a base silver (potin) coin of Ptolemy XIII of Egypt, 80–51 BC[1] In AD 410, trade ceased as the Roman Empire withdrew from the island of Albion.

Early medieval period (500–900)

Template:Coin image box 2 double As the Roman Empire retreated from Britain, various kingdoms sprouted up to the south of Scotland.[7] One of these, Northumbria, soon expanded into the north as far as the Kingdom of Strathclyde. Thus, it controlled the southern parts of what is now Scotland, and the bronze sceat coins of the Northumbrian Kings circulated freely in what is now Scotland. This coin was issued from 837–854. Anglo-Saxon coins were minted in Northumberland; however, due to the extensive trade routes of the Vikings, sceatt coins were also minted in Frisia and Jutland during Anglo-Saxon times and coins of this period indicate the extent of Scottish trade not only with Northumberland but also with continental Europe. Norsemen also introduced some form of coinage, and coins from as far away as Byzantium and the Arabic countries have been found in sites in Scandinavia, including Norway which had strong links with Scotland in the early Middle Ages.

Scottish Crown (ca 1100–1600)

David II (1329–71): penny
+DAVID DEI GRACIA, crowned head left; scepter before [REX] SCT TOR Vm+, long cross; mullets in quarters.
18mm; 1.31 g; circa 1351–57.

The first king of Scots to produce his own coinage was David I (1124–53). In 1136 he captured Carlisle, including its English mint and nearby silver mines from Stephen, King of England.[8] He struck silver pennies, which were similar to those Stephen struck for England, at Carlisle, Edinburgh, St. Andrews, Roxburgh and Berwick. For the next two centuries, the continued use of a profile, as opposed to the facing portrait, was about all that distinguished Scottish coins from their English counterparts. In particular, the reverse types of Scottish coins followed the English Tealby, short cross, and long cross designs. Moreover, Scottish coins followed English weight standards, allowing the two coinages to circulate alongside one another.[9]

Robert III (1390-1406): Gold Lion
Royal Arms St. Andrew

David II of Scotland ended the parity between Scottish and English coins, resulting in an English proclamation banning the lower quality Scottish coins from their country in 1356. Robert III of Scotland continued to devalue Scottish coins, making them worth one-half of their English counterparts by 1392. He also replaced the profile bust on the obverse of Scottish coins with a facing head, which made his coins much easier to confuse with the more valuable English issues.[10] David II’s attempt to introduce gold coins to Scotland by copying the English noble was a failure but Robert III successfully introduced the gold lion, which showed St. Andrew crucified on his X shaped cross.[11]

Under James III of Scotland English influence of Scottish coinage gave way to Burgundian models, with both his gold rider and silver plack. He is best remembered, however, for the realistic portraits on his silver groat.[12] James III also introduced the gold unicorn. This was one of a long series of coin types which characterized the continuing changes in standard and revaluations of Scottish coinage.[13] Ordinances required Scots to turn in their old coins in exchange for new issues struck to a lower standard, thereby providing a profit to the king.[14] James VI alone had eight issues of coins before he unified the thrones, and to a large extend the coinages, Scotland and England.[15]

Union of the Crowns (from 1603)

With the Union of the Crowns in 1603, Scottish coins became more closely based on English models, rather than Continental ones. At this period, it was still not uncommon for coins to be used in more than one country, partly because of their metal value. During the reign of Charles I, mechanical minting was introduced.

Following the union, James VI introduced the first gold coins that were similar on both sides of the border, with an exchange rate of 1 pound sterling to 12 pound Scots.[16]

1707–10 recoinage

Following the 1707 union between the Kingdom of Scotland and the Kingdom of England, the Scottish silver (but not gold nor copper) coinage was replaced with new silver coins, with the aim of creating a common currency for the new Kingdom of Great Britain as required by the Treaty of Union.[16] The exercise was conducted under the guidance of Sir Isaac Newton, who had previously directed the recoinage in England some years earlier in his role as Warden of the Mint (and subsequently as Master of the Mint).

Despite fluctuations in the exchange rate since 1603, and a 1697 proclamation setting the ratio at 13:1, a 12:1 ratio was applied to the recoinage, although compensation was paid. The new coinage was made using Troy weights (12 Troy ounces to the pound), rather than the traditional Scots weights (16 Troy ounces to the pound). Coins were minted in both London and Edinburgh, the latter inscribed with the letter 'E' under the bust of the monarch to permit them to be distinguished.[16] Under the supervision of moneyers from the Tower Mint in London, a weight of 103,346 pounds in crowns, half-crowns, shillings, and sixpences were minted at the Edinburgh Mint with a value of £320,372 and 12 shillings,[17] equivalent to US$18,588,700 (£10,129,200) at 2008 average silver prices and exchange rates.[18][19]

This 12:1 ratio is reflected in the fact that sgillinn, which originally meant shilling, became the Scottish Gaelic word for a penny sterling,[20] and bonn-a-sia which literally means ‘coin of six’ became the word for a halfpenny. Following decimalisation in 1971, sgillinn became and remains the Scottish Gaelic word for a new penny.

As a result of the recoinage, foreign coins, which were frequently used alongside the local currency, stopped being legal tender on 6 October 1707. Pre-Union 40, 20 and 10 shilling coins ceased to be legal tender on 10 February 1708, but were temporarily put back into circulation before finally ceasing as legal tender on June 1, along with coins of ½, 1, 2, and 4 merks, 5 shillings, and the 3 shilling 6 pence coin.

The last batch of new coins, consisting of silver shillings and half-crowns were delivered on 5 October 1709, and were to be the last coins to be minted in Scotland.[16]

Subsequent developments

Article 16 of the Treaty of Union stipulated that Scotland was to keep its own mint, but this, as with many others, has not been followed.

"That, from and after the Union, the coin shall be of the same standard and value throughout the United Kingdom as now in England, and a Mint shell be continued in Scotland under the same rules as the Mint in England ; and the present officers of the Mint continued subject to such regulations and alterations as Her Majestie, her heirs or successors, or the Parliament of Great Britain shall think fit."
— Article XVI of the Acts of Union[21]

Although the Edinburgh Mint retained its permanent officials (though not other staff) for a further hundred years, until 1814, minting ceased a mere two years after Union, despite several subsequent proposals to restart production. The mint itself was finally abolished in 1817 and sold in 1830.[22] Abolition caused a low level of protest, mentioned by Sir Walter Scott, and continued to be protested against by Nationalist pamphlets into the 1950s and beyond. The title of 'Governor of the Mint of Scotland', which passed to the Chancellor of the Exchequer under the Coinage Act 1870, was finally abolished with the passing of the Coinage Act 1971.[22]

The transition from Scottish coinage to English did not occur overnight. Scottish coinage was still in circulation in the later 18th century, but the changeover was made a little easier due to common currency in the nomenclature. Pound Sterling is still translated as Punnd Sasannach (English pound) in Scottish Gaelic [23] Certain old coin names, such as bawbee,[24] continued in colloquial usage into the 20th century. Others, such as mark and dollar, would be more associated with various foreign currencies by contemporary Scots.

Some British coins later had overtly Scottish reverses: for example the shilling appeared with either English or Scottish royal arms as reverses from 1937 to 1970, while its replacement the 5p coin had a crowned thistle from 1971 to 2008.

Currently, three Scottish banks produce their own banknotes (Bank of Scotland, Royal Bank of Scotland and Clydesdale Bank), but no coinage. Scotland is the only part of the UK where one pound notes are still in usage (although they can be found in the Isle of Man and Channel Islands).

List of Scottish coins

Mary (1542–67), Francis (1558–60): testoon
FR•AN • ET • MA • D • G • R • R • SCOTORVM • D • D • VIE[N], crowned arms of Francis and Mary over cross potent • FECIT • VTRAQVE • VNVM • 1558 •, crowned FM; Lorraine cross to either side.

As with Scottish weights and measures, many of the Scottish denominations bore the same names as those in England, but were of slightly different values. The dates, and first kings to issue them are included:

Scottish monarchs who issued coins

See also

Wikimedia Commons has media related to Coins of Scotland.

Notes

  1. 1 2 3 4 5 Anne S. Robertson. "Roman coins found in Scotland, 1971–82" (PDF). Ads.ahds.ac.uk. Retrieved 2015-08-30.
  2. ↑ Celtic culture: a historical encyclopedia, Volumes 1–5 By John T. Koch
  3. ↑ Borders and border politics in a globalizing world By Paul Ganster, David E. Lorey
  4. ↑ Ancient coins discovered on beach, BBC News Online, 12 July 2007
  5. ↑ "National Museums Scotland". Nms.ac.uk. Retrieved 2015-08-30.
  6. 1 2 Romans paid Scots protection money, The Independent, 3 November 2000. Retrieved 18 December 2000
  7. ↑ Robinson, Christine (2003), Get set for English language, Edinburgh University Press, p. 62, ISBN 978-0-7486-1544-5
  8. ↑ Coins of Scotland Ireland and the Islands, Peter Seaby and Frank Purvey, page 1.
  9. ↑ The Coin Atlas, J. Cribb, B. Cook, and I. Carradice, pages 17-18
  10. ↑ Coins of Medieval Europe, Philip Grierson, page 157-158
  11. ↑ Coins of Medieval Europe, Philip Grierson, page 158
  12. ↑ Coins in History, John Porteous, pages 149-150.
  13. ↑ The Coin Atlas, J. Cribb, B. Cook, and I. Carradice, pages 18
  14. ↑ Handbook of Coins of Great Britain and Ireland in the British Museum, Herbert A. Greuber, pages 192 and 194.
  15. ↑ Coins of Scotland Ireland and the Islands, Peter Seaby and Frank Purvey, page 55.
  16. 1 2 3 4 Sir Isaac Newton and the Scottish recoinage, 1707–10, Athol L Murray, Society of Antiquaries of Scotland, 1997
  17. ↑ J W Hocking, Curator and Librarian of the Royal Mint. "Notes on a collection of coining instruments in the National Museum of Antiquities, Edinburgh" (PDF). Ads.ahds.ac.uk. Retrieved 2015-08-30.
  18. ↑ Price History: 2000 to Present, The Silver Institute
  19. ↑ "Forex Trading | Trade Currency Online | Forex Broker". OANDA. Retrieved 2015-08-30.
  20. ↑ "Multidict". Multidict. Retrieved 2015-08-30.
  21. ↑ Stewart: The Scottish Coinage, p. 120 & ff.
  22. 1 2 The Scottish Mint after the recoinage, 1709–1836, Athol L Murray, Society of Antiquaries of Scotland, 1999
  23. ↑ The Scottish Gaelic Column, Scottish Radiance
  24. ↑ Bawbee, Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
  25. ↑ Stewart: The Scottish Coinage

References and further reading

External links

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