In the main, the recoinage of gold was accomplished in the year 1774, though it lingered over the three succeeding years as appears by the items in the Appropriation Acts.
Being a powerful factor in the little state, they agitated, and the recoinage of 1345 was the result.
This statement is more than borne out by quite reliable computations which were made in the process of the recoinage five years later.
This series of proclamations is to be regarded as one measure with, and as fortifying, the recoinage and the new ratio established.
This futile process actually reproduces itself yearly up to 1411, when at last the question of a recoinage was fairly faced.
The gradual deterioration of the coinage which led to the recoinage of 1696 is illustrated by a contemporary description (No.
The debased coinage was replaced by a recoinage of newly minted coins with a true silver weight.
There was a recoinage due to debasement of the old coinage.
Even before the late recoinage of the gold, therefore, the coin, gold and silver together, when compared with silver bullion, was not supposed to be more than eight per cent.
During the greatrecoinage in king William's time, when the bank of England thought proper to put a stop to its usual transactions, exchequer bills and tallies are said to have sold from twenty-five to sixty per cent.
Before the late recoinage of the gold, the price of silver bullion was seldom higher than five shillings and sevenpence an ounce, which is but fivepence above the mint price.
Since the late recoinage of the gold, however, it is believed to have been a good deal under-rated.
But in the beginning of the present century, that is, immediately after the great recoinage in King William's time, the greater part of the current silver coin must have been still nearer to its standard weight than it is at present.
On the twenty-first of January the Recoinage Bill and the Bill for regulating Trials in cases of High Treason received the royal assent.
The principles of the Recoinage Act are excellent.
The misunderstanding which had arisen between the Houses touching the Recoinage Bill had produced inconveniences which might well alarm even a bold politician.
It was true that the funds voted in the preceding session for the support of the war had failed, and that the recoinage had produced great distress.
The Regent had just undertaken a general Recoinage of the Money, which seem'd to be a Thing of great Consequence to private People.
The expense of this recoinage I am sure we can find maintained by the stockholders of the Bank of England, and for their pay we shall propose a new tax upon the people of England.
As applied to the plan of recoinage it is: Withdraw the worn coins as rapidly (in equal numbers) as you put new coins into circulation.
Sir Thomas Gresham (whose name has but recently been given to this so-called law), explained the principle to Queen Elizabeth when counseling her regarding the recoinage of the debased money of the realm as was done in 1560.
The great English Recoinage of 1696 was completed under the imperatives of Gresham's Law.
Even before the late recoinage of the gold, therefore, the coin, gold and silver together, when compared with silver bullion, was not supposed to be more than eight per cent below its standard value.
The above list will hopefully give you a few useful examples demonstrating the appropriate usage of "recoinage" in a variety of sentences. We hope that you will now be able to make sentences using this word.
