great recoinage of 1696 wikipedia - EAS
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The Great Recoinage of 1696 was an attempt by the English Government under King William III to replace the hammered silver that made up most of the coinage in circulation, much of it being clipped and badly worn. See more
The recoinage was not a financial success. Production tailed off by 1698. It had proved impossible to maintain a system based on gold and silver because of the variation in the bullion value of each metal. In practice this usually meant that silver was worth … See more
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