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The Token Money of the Bank of England 1797 to 1816

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The same remarks apply to the is. 6d. Token.
By November, 1815, the metallic value of the dollar had fallen to 4^. $d. , and as the Bank were still accepting and issuing at 5^. 6d. , a great number of Spanish coins were cleverly altered to resemble the Bank dollar. On April 25, 1816, the Bank repeated their old notice of redeeming the dollar at $s. 6d. , but not less than eight dollars must be in one parcel.
During the period in which the dollar coinage had been in vogue, viz. , from its first
...inception in 1797 until 1816, the minted silver coinage of the realm had got into a shocking con- dition, very deficient in quantity and very defective in quality.
The restriction of Bank payment had produced an unreal state of things. Guineas had appreciated in value, and notes had depreciated. Various Acts had been passed, making it illegal to sell or export gold coin for more than its face value ; notes were not to be dealt in at less than theirs. Many complications arose. Guineas, however slightly light, might be cut and sold as bullion, but heavy coins might not.


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