Wednesday, 18 November 2015
The British farthing (part 4)
Unfortunately, we are no longer able to see the denomination "1 farthing" in our change nowadays, this is due to a host of reasons: 1) they were all removed from circulation shortly after decimalization 2) they were worth less than what was neccessary in terms of the financial economy, a so-called "half-pence" was the lowest value denomination until the mid-1980's when they were also removed from circulation (production stopped half a decade beforehand). 3) The properties of the alloy used to create the coins was worth more than the coin stated itself (ie, alloy=1.1 pence, coins denomination=1 penny, the alloy was worth a tenth of a penny more than the coin). CONTINUED ON PART 5.
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