In this film Dan explores the Great Debasement, the infamous policy introduced in 1544 England by Henry VIII to help fund his wars and boost his finances by reducing the amount of precious metal in gold and silver coins and in some cases replacing them entirely with cheaper base metals like copper.
The results for the crown and merchants alike were disastrous, at home an already unpopular Henry VIII acquired the nickname "Old Coppernose" as the silver rubbed off the high-relief part of the coin design revealing the copper beneath - but it was abroad where the effects were more acutely felt.
With increasing trade with the continent, the purity of the coins led to English money becoming short-changed and in many cases, unacceptable.
With Henry's son Edward VI continuing the policy it would fall to another of Henry's heirs to correct his mistakes, Elizabeth I.
With a history stretching over 1,100 years, The Royal Mint has forged a fascinating story through the world of historic coins. As the second oldest mint in the world, and the oldest company in the UK, their history is entwined with the 61 monarchs who have ruled England and Britain.
The Royal Mint has struck coins for every monarch, creating an unrivalled collection of coins, each one with its own history to unravel. Many of these historic coins have increased in value over time, making them an ideal collector’s item too.
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