Posts Tagged ‘Royal Mint’
The coins born from war and ice…
During its lifetime, The Royal Mint has struck coins for over 100 different countries from around the globe.
But do you know the story of how they came to strike Icelandic coinage?
The ‘inauguration’ of Iceland’s coinage
The story of how The Royal Mint came to strike Iceland’s coins began in World War Two.
After a night where the windows and roofs of The Royal Mint at Tower Hill had been destroyed by enemy action, the very first British-struck Icelandic coins were born as “a glacial wind whirled round the coining presses to inaugurate this coinage of Iceland” (explained by John Craig, The Deputy Master of The Royal Mint, in his annual report).
Prior to World War II, Iceland was ruled by the Danish crown and Icelandic coins had been struck by The Copenhagen Mint.
But the fall of Denmark into enemy hands during the war meant that Iceland had to look elsewhere for its coinage requirements…
First ever British-struck Icelandic coins
It was in 1940 that The Royal Mint received its first order to strike the five Icelandic denominations from 1 Eyrir (0.01 Krόnur) to 25 Aurar (0.25 Krόnur).
This was soon followed by additional orders for Krόnur and 2 Krόnur coins.
Not only did The Royal Mint experience damages to the building during WWII, but the price of nickel also rose substantially as the metal was in extremely high demand for munitions.
This meant it became necessary to strike the 1942 dated 10 and 25 Icelandic Aurar coins in the ‘poor metal’ of zinc rather than the now commonly used Cupro-nickel.
The new coins series
In June 1944 Iceland became a republic. A new series of coins were introduced in 1946, which remained in use for the next 35 years.
A full rendering of the national Coat of Arms appeared on the Krόnur and 2 Krόnur, complete with the bull, eagle, dragon and giant supporters.
Four new denominations were added in the late 1960s, including the 50 Aurar, 5 Krόnur, 10 Krόnur and 50 Krόnur.
Iceland’s first commemorative coins
Iceland’s first commemorative coin was struck at The Royal Mint in 1961 – a gold 500 Krόnur marking the 150th anniversary of the birth of the scholar and statements, Jόn Sigurdsson.
Iceland became a free and sovereign nation in 1918 when the Union Treaty with Denmark came into effect on the 1st December. To commemorate 50 years since this historic moment, a 50 Krόnur coin was issued.
In its first year of issue in 1968, the reverse design of the 50 Krόnur included a representation of the Althing (Parliament) building and carried an inscription marking the 50th anniversary of the achievement of Icelandic national sovereignty.
In 1974, The Royal Mint issued a three coin series of gold and silver coins, designed by Throstur Magnusson to commemorate the 1100th anniversary of the settlement of Iceland.
A major reform to Iceland’s coinage
The Icelandic financial market suffered hyperinflation in 1981, which was settled by a major reform of the coinage, resulting in a complete redesign and revaluation of the circulating coins.
100 old Krόnur was now worth just 1 new Krόna. As well as 1 and 5 Krόna coins, denominations of 5, 10 and 50 Aurar were also introduced.
The new obverses, in keeping with Magnusson’s designs, depicted the traditional protector spirits (“Landvættir”) of Iceland.
Each reverse portrays a variety of aquatic life, including dolphins, cod and northern shrimp.
As Iceland’s economy has been founded on fishing for so long, the pungent smell of fish smelting came to be known as “money smell”.
It’s great to discover more about different coins from around the world, and I’m sure you’ll agree that the stories behind Icelandic coinage are really fascinating.
If you’re lucky enough to have come across any Icelandic coins during your trips abroad, let us know in the comments below.
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The UK Coin Series celebrating one of Britain’s most iconic attractions…
The Tower of London has been a symbol of royal power for nearly 1,000 years.
Built during the Norman conquest in 1066, Her Majesty’s Royal Palace and fortress of the Tower of London has been used as a prison, jewel house, mint and even a menagerie!
It’s been home to kings and queens, thieves and traitors, and lions and bears.
In tribute to the Tower, The Royal Mint announced they would be issuing a four coin series throughout 2019 celebrating the history of the Tower of London, one of Britain’s most iconic attractions. The series included coins depicting the following:
- The Legend of the Ravens
- The Crown Jewels
- The Yeoman Warders
- The Ceremony of the Keys
2019 The Legend of the Ravens £5
Featuring a Raven with a bird’s-eye view of the Tower in the background, the first coin in the series captures the illustrious history of the iconic British landmark and its most famous residents.
The Tower’s ‘raven mythology’ is thought to be a Victorian flight of fantasy and has been a source of many legends, including the fate of Greenwich observatory.
It’s said that King Charles II disliked the raven’s droppings falling onto the telescope at the Tower’s observatory, and so ordered that the ravens must go. However, superstition stated that if the ravens left, the Tower would fall and Charles would lose his kingdom. Ever the pragmatist, the King decided that the observatory must go to Greenwich and the ravens must stay in the Tower.
2019 Crown Jewels £5
The second coin to be issued in The Royal Mint’s Tower of London series was the Crown Jewels £5.
Several expansions were made to the Tower throughout the reign of Kings Richard I, Henry III and Edward I in the 12th and 13th centuries, however in general the original layout remains consistent. It suffered structural damage during the Blitz, but this was repaired after the Second World War and the Tower was opened to the public, to marvel at the Tower’s most esteemed treasures – the Crown Jewels!
Not only a powerful symbol of the British Monarchy, the jewels have deep religious and cultural significance in British history and are used by HRH King Charles III for important ceremonies and royal duties.
However, the 12th century anointing spoon and three early 17th century swords are the only four original jewels left after the English Civil War in 1649, when the Crown Jewels were destroyed and the monarchy abolished. The jewels were remade for Charles II’s coronation in 1661 following Oliver Cromwell’s death.
2019 Yeoman Warders £5
The third coin in the series celebrates the Yeoman Warders, who’ve have been guarding the Tower of London for more than 1,000 years.
Nicknamed as ‘Beefeaters’, they originally formed the Yeoman of the Guard, which was the monarch’s personal team of bodyguards.
The Yeoman Warders were responsible for looking after the prisoners in the Tower and protecting the crown jewels, however nowadays they also conduct guided tours of the Tower and are an important icon for Britain, resplendent in their red uniforms and a favoured tourist attraction.
It’s no mean feat to become a Warder however, as you need to be between 40 and 55 years old on appointment and hold at least 22 years’ military service, during which time you must have reached the rank of warrant officer and to have been awarded the long service and good conduct medal.
2019 Ceremony of the Keys £5
The fourth and final coin in the Tower of London series celebrates the Ceremony of the Keys. Designed by Glyn Davies the reverse of the coin depicts the keys and lamp which take centre stage in the ceremonial unlocking of the Tower of London gates.
For over 700 years, as the clock strikes ten, the words ‘Halt! Who comes there?’ echo in the Tower of London. The ancient Ceremony of the Keys is a formal locking and unlocking of the Tower gates, which started in the mid 1300s on order of King Edward III after he entered the Tower unannounced one night and was able to walk straight in, unchallenged!
Tradition states that at exactly seven minutes to ten at night, the Chief Yeoman Warder of the Tower must leave the Byward Tower, wearing a red Watch Coat and Tudor Bonnet and carrying a lantern. He takes with him a very special set of keys – the King’s Keys.
A military escort meets him at the Bloody Tower and at 10pm he moves two paces forward, raises his Tudor bonnet and says: ‘God preserve King Charles’. This is answered by ‘Amen’ from the guards and ‘The Last Post’ played on a bugle.
The keys are then taken back to the King’s House and handed to the King’s representative at the Tower, The Resident Governor.
Did you know? When all four coins in the series are placed together, they reveal a larger image showing the Tower of London walls connecting.
Which coin in the 2019 Tower of London series is your favourite? Let us know in the comments!
The Tower of London £5 series continued in 2020 with four more coins celebrating the iconic attraction.
Freedom in the palm of your hand
Exchequer Secretary, Robert Jenrick has seemingly secured the future of Britain’s Penny and Tuppence coins.
Speaking at the historic Trial of the Pyx ceremony on the 27th april, the Treasury Minister launched an impassioned defense of coins.
Describing coins as “freedom in the palm of your hands” he went on to focus on their crucial role in uniting a nation, as well providing simple and easy payment method for over 2.7m Britons.
But most importantly, for those of us fearing the demise of the British Penny and Tuppence, hinted at by Chancellor Philip Hammond during his Spring Statement, he was very clear.
“So the penny is safe. Safe today, safe as long as the British public cherish it and see in it, more than a unit of currency, but a metaphor for the enduring strength and continuity.”