Scottish coinage

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The first coins in Scotland appear to have been introduced by the Romans, but it was at least the 19th century before a currency economy took hold of most of the country (the Highland Clearances have been part explained by the transition from barter to a cash economy).

1 Early history
2 Later history
3 List of Scottish coins
4 Scottish monarchs who issued coins
5 Further reading
6 See also
7 External links

[edit] Early history

It is possible that the Norse also introduced some form of coinage, and coins from as far away as Byzantium and the Arabic countries have been found in sites in Scandinavia, including Norway which has strong links with Scotland in the early Middle Ages.

The first king of Scots to produce his own coinage was David I. David I has been regarded as an anglicising force in Scotland, and indeed, the coins bear an uncanny (but cruder) resemblance to those of King Stephen. In 1250, the country had no less than 16 mints, scattered from Inverness to Berwick. Other later influences for Scottish coinage were the German speaking lands and France, both of which would contribute names such as “dollar” (Thaler), “testoon” (from French “tete” meaning head), and “merk” (or “mark”).

In 1485, according to IH Stewart, the groat bore “the first real coin portrait to be seen north of the Alps”

During the 16th century, production of coinage moved entirely to Edinburgh, although Stirling produced one issue of bawbees.

[edit] Later history

With the Union of the Crowns in 1603, Scottish coins became more closely based on English models, rather than Continental ones. At this period, it was still not uncommon for coins to be used in more than one country, partly because of their metal value. During the reign of Charles I, mechanical minting was introduced.

Currently, three Scottish banks produce their own banknotes, but no coinage. One of the articles of the Treaty of Union stipulates that Scotland was to keep its own mint, but this, as with many others, has not been held to. Production ceased a mere two years after Union, and the mint itself was abolished in 1817. However, this has still met with a low level of protest, mentioned by Sir Walter Scott, and protested against by nationalist pamphlets into the 1950s and beyond. Scotland is the only part of the UK where pound notes are still in usage (although they can be found in the Isle of Man and Channel Islands)

The transition from Scottish coinage to English was not overnight. Scottish coinage was still in circulation in the later 18th century, but the changeover was made a little easier due to common currency in the nomenclature. “Pound Sterling” is still translated as “Punnd Sasannach” (English pound) in Scottish Gaelic Also, certain of the old coin names, such as “bawbee” continued in colloquial usage into the 20th century. Other such as “mark” and “dollar” would be more associated with various foreign currencies by contemporary Scots.

[edit] List of Scottish coins

As with Scottish weights and measures, many of the Scottish denominations bore the same names as those in England, but were of slightly different values. The dates, and first kings to issue them are included:

Pistole – Gold, 12 pounds Scots
Dollar – Replacement for the ryal, 60 Scots shillings (James VI)
Testoon – Gold, 1553
Ryal – Gold, 1565
Crown or Lion – Gold (James I)
Half-crown, Demi-Lion or Demys – Gold (James I)
Ducat or “bonnet” - 40 shillings, 1539 (James V)
Mark or merk – Gold (giving rise to the term markland)
Noble – Gold, worth half a mark, 1357 (David II, reintroduced by Robert III)
Bawbee – Bullion, six pence from 1537
Shilling
Groat – Silver, equivalent to four pence, from 1357 (giving rise to the term groatland)
Half-groat – Silver, equivalent to two pence, from 1357
Turner – Bullion, two pence (James VI), later copper.
Bodle – Copper, two pence (Charles II)
Penny - Bullion, one of the earliest coins, dating from David I. Later made of copper; giving rise to the term pennyland.
Halfpennies – Initially literally half of a penny, these became minted coins in their own right in c.1280. Later made of copper.
Farthing or quarter-penny - These were originally quarters of pennies, but as with Halfpennies, became coins in their own right in c.1280. Later made of copper.
Plack