LYCOS RETRIEVER 
British Coinage
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For British coinage in particular, the most convenient introduction is Philip de Jersey's Celtic coinage in Britain (Shire Publications, 1996, ISBN 0747803250). The most popular catalogue of British Celtic is R. D. Van Arsdell (Spink, 1989), Celtic coinage of Britain (ISBN 0907605249). The most important, recent catalogue is British Iron Age coins in the British Museum (British Museum Press, 1996, ISBN 0714108766) by Richard Hobbs. A very different and at times controversial approach is provided by John Creighton in Coins and power in late Iron Age Britain (Cambridge University Press, 2000, ISBN 0521772079).
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Her reign with William hosts a coinage with conjoined busts which face right on the British coins, but always left on the Scottish coins where William was William II. Some of their gold coinage ... carries the elephant and castle provenance mark indicating the gold used came from Guinea in Africa. Due to the poor state of the coinage in circulation with many worn hammered pieces the new gold was more highly prized and the face value of a guinea which started the reign at 21 shillings and sixpence rose as high as 30 shillings. The great re-coinage after Mary’s death in 1696 put an end to this fluctuation.
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British Treasuryagent in Hollandin the 16th century, at a time when the British coinage had been badly debased. His job was to get new coins made of purer metal content. Queen Elizabeth wanted to end the inflationary policies of her family anddirected Gresham to prepare new coinage with more silver inthem.This he did, but in short order these newer silvershillingsdisappeared from circulation and the older shillings debased with base metals still circulated. Gresham's Law ispopularlydefined as "Bad money drives outgood ". It is often applied in areas outside of money. When a formerly chic resort starts to attract what the chic would call a "lower class" of clientele, the chic move on.
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This collection is very general, containing mainly examples of British coinage along with a few foreign pieces. The main part of the coin collection is a group of pieces excavated from St John’ s Tower in Ayr. Most importantly, this includes Scottish coinage from the Seventeenth Century.
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The term "sterling" in the early 19th century did not necessarily mean British coinage. It simply meant reliable, trustworthy money and referred to silver and gold coinage of any origin together with monetary instruments negotiable at face value and ultimately backed by the British Treasury. The monetary instruments included Treasury Bills and, by extension, government paymasters' bills and government store receipts. Thus the term "sterling" could (and frequently did) include instruments issued in dollars and rupees. In contrast, "currency" referred to privately issued notes together with several commonly traded commodities such as grain. "Currency" was considered less reliable than "sterling", probably with good reason.
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The coming disappearance of Britannia from new British coinage has caused a bit of a stir for Prime Minister Gordon Brown, who approved the change as Chancellor of the Exchequer. Brown’s approval is marked in contrast to his public campaign of British patriotism, say critics.
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British Coinage