Ireland 1689 (Sept) James II Gun Money Halfcrown
Offered is a fascinating brass ‘Gun Money’ Halfcrown, issued by James II to wage his defensive campaign in Ireland against Williamite forces, KM#95. Gun Money was struck from 1689-91 as a stop-gap base metal coinage, which made use of old guns, church bells, roofs, etc., as James’ treasury was infinitely too small to support the scale of his war effort. The pieces were struck dated with the month for two reasons, both envisioning a victory for Jacobite forces - the first was so that the base metal coinage could be redeemed against proper coin in tranches (spreading out the economic burden of the large creation of unbacked money), and the second was reportedly so that soldiers could claim interest on what were effectively withheld wages.
Either way, James lost, fleeing to France, making Gun Money almost worthless as an economic instrument virtually overnight. Contemporary accounts tell of soldiers dumping their Gun Money at the sides of roads and into ponds in dismay, and indeed, large quanities of the coins were recovered from roadworks and construction projects in Ireland right into the mid-20th century. Practically, Gun Money continued to circulate heavily discounted as small change in Ireland, before being fully withdrawn in the early years of the 18th century.
This particular example is from September 1689, and retains great detail and patina for a type which is highly susceptible to both wear and severe environmental damage (owing to the haphazard alloys used). Struck on a regular flan, this is a very appealing example for the type.
Offered is a fascinating brass ‘Gun Money’ Halfcrown, issued by James II to wage his defensive campaign in Ireland against Williamite forces, KM#95. Gun Money was struck from 1689-91 as a stop-gap base metal coinage, which made use of old guns, church bells, roofs, etc., as James’ treasury was infinitely too small to support the scale of his war effort. The pieces were struck dated with the month for two reasons, both envisioning a victory for Jacobite forces - the first was so that the base metal coinage could be redeemed against proper coin in tranches (spreading out the economic burden of the large creation of unbacked money), and the second was reportedly so that soldiers could claim interest on what were effectively withheld wages.
Either way, James lost, fleeing to France, making Gun Money almost worthless as an economic instrument virtually overnight. Contemporary accounts tell of soldiers dumping their Gun Money at the sides of roads and into ponds in dismay, and indeed, large quanities of the coins were recovered from roadworks and construction projects in Ireland right into the mid-20th century. Practically, Gun Money continued to circulate heavily discounted as small change in Ireland, before being fully withdrawn in the early years of the 18th century.
This particular example is from September 1689, and retains great detail and patina for a type which is highly susceptible to both wear and severe environmental damage (owing to the haphazard alloys used). Struck on a regular flan, this is a very appealing example for the type.
Offered is a fascinating brass ‘Gun Money’ Halfcrown, issued by James II to wage his defensive campaign in Ireland against Williamite forces, KM#95. Gun Money was struck from 1689-91 as a stop-gap base metal coinage, which made use of old guns, church bells, roofs, etc., as James’ treasury was infinitely too small to support the scale of his war effort. The pieces were struck dated with the month for two reasons, both envisioning a victory for Jacobite forces - the first was so that the base metal coinage could be redeemed against proper coin in tranches (spreading out the economic burden of the large creation of unbacked money), and the second was reportedly so that soldiers could claim interest on what were effectively withheld wages.
Either way, James lost, fleeing to France, making Gun Money almost worthless as an economic instrument virtually overnight. Contemporary accounts tell of soldiers dumping their Gun Money at the sides of roads and into ponds in dismay, and indeed, large quanities of the coins were recovered from roadworks and construction projects in Ireland right into the mid-20th century. Practically, Gun Money continued to circulate heavily discounted as small change in Ireland, before being fully withdrawn in the early years of the 18th century.
This particular example is from September 1689, and retains great detail and patina for a type which is highly susceptible to both wear and severe environmental damage (owing to the haphazard alloys used). Struck on a regular flan, this is a very appealing example for the type.