Medieval Hammered Farthings

Henry IV - Hammered Farthings

Henry IV (1399-1413)

AI:
During the reign of Henry IV, two principal issues of farthings were produced: Heavy Coinage (1399–1411) and Light Coinage (1412–1413). Persistent bullion shortages, caused by overly high coin weight standards, severely limited mint output and led to a critical lack of small denominations. Although measures were introduced from 1402 to increase the production of farthings, actual output remained minimal.
AI: Reforms in 1412 significantly reduced coin weights, resulting in a dramatic increase in mint activity and marking the transition to Light Coinage. However, earlier heavy coins were subsequently melted down due to their higher intrinsic silver value, contributing to the extreme rarity of both issues today.
Keep:
The classification presented below is derived from a comprehensive die study undertaken in 2026, encompassing all recorded specimens of Henry IV farthings. The results diverge in several significant respects from the framework established in "The Galata Guide to Small Change". 2
Heavy Coinage - 'at the time the price of silver had risen so it was uneconomic to strike at the old rate of 18 grs (1.20g) to the penny. No precise figures are available for the amount of silver coined into fractions but we know that £600 of silver was brought to the mint in the 3rd to 5th years of the reign and that in the 3rd to 4th year period £314 was coined. Since Parliament had ordained that one-third of the toal silver coined should be used to produce the two fractions in equal weights it can be calculated that the £600 of silver might have led to the production of 50,000 halfpence and 100,000 farthings. Although it is true that the survival rate of these small coins is much less than pence it is still inconcievable that numbers like this were ever extant... There seems to be but one farthing [known]' Purvey, P.F. and Harris, E.J., 'Seaby Coin and Medal Bulletin', No. 608 (1969 Vol., No. 4); p. ???-117.
From the evidence available it seems likely that Heavy Coinage farthings were produced sometime between the 1402 when the king ordered farthings to be produced in a response to Parliament's request, and 1408 when the mint most likely closed due to lack of bullion.
Farthings of this period are extremely rare due to a combination of low production and the reduction in coin weights in 1412 which resulted in the melting down of the heavy coinage in circulation (the value of the silver in each heavy coin exceeded the face value of the coin).
Light Coinage (1412-13) - in 1412 the silver in a penny was reduced to 15 grs. (1.0g) but this reduction did not lead to a proliferation of coinage. The first light coins may well have been struck from the heavy dies and are then indestinguishable from clipped or worn heavy coins. A single light farthing is known, illustrated in Brooke, Pl. 33, no. 12

Historical Context

Two issues of farthings are attributed to his reign:
· Heavy coinage (1399-1411)
· and Light coinage (1412–1413)...
Within two weeks of deposing his cousin Richard II, Henry IV instructed the master of the mint on 14 October 1399 to commence production of coinage. The urgency to resume coin production was driven by both economic and propaganda priorities. Due to the Statute of Purveyors of 1352, which forbade changes to the basis of coinage without the consent of Parliament, the old weight standards remained unchanged for each denomination. But, as in the reign of Richard II the weight of each denomination of silver coinage was too high resulting in a very low quantity of silver being brought to the mint for minting.
The lack of farthings in circulation, causing significant suffering for trade in general and the poor specifically, was raised by Parliament in 1402. They complained that no farthings had been recently minted, to which the Henry IV replied that in future a third of silver minted would be coined into halfpennies and farthings¹.
An indenture of 1 July 1402, with Walter Merewe, master-worker, includes authorisation to produce of all silver denominations from groats (four-pence), half-groats (two-pence), pennies (at 18 grs), and halfpence, but omits specifying farthings. Walter Merewe, Henry IV's first mint-master had experience of the mint, having been assayer during the reign of Richard II.
Account records show that only £1,398 was struck into silver coinage between 1400-08, with a mere £6 minted in 1408. Mint accounts from 29 September 1408 until 29 November 1411 are missing, but based on the tiny amount of coinage struck earlier in 1408, it is entirely possible that the mint was closed between these dates².
Richard Garner was appointed master-worker, in February 1409. An indenture ordered the production of all silver denominations, from groats to pennies (at at new reduced weight of 16.1 grs), halfpence, and included farthings (reduced from 4.5 grs to 3.88 grs). This reduction in the weight of the coinage still did not bring sufficient silver in to the mint to meet the economic need for coins.1
The Parliament of November 1411, presided over by the Prince of Wales, decreed a reduction in coin weight to take effect from Easter Day 1412, for a limited period of two years. Farthings were now to be stuck at 3.75 grs. This reduction was partially in response to the scarcity of bullion coming into the mint and partly to provide revenue to the king, as Parliament had not renewed his subsidies. The effect of the new legislation was immediate, with the total weight of silver coined in the first 8 months (until 28 November 1412) being £1,940. This exceed the quantity of all the silver minted in the preceding 12 years.
This temporary reduction in weight, while very unpopular with citizens, remained the new standard weight for the coinage until a further reduction was introduced by Edward IV, in 1464.

Coin Characteristics: Heavy Coinage - Transitional Issue

  • Metal: Silver
  • Denomination: Farthing (¼ penny)
  • Mint(s): London
  • Obverse: Face as Richard II, Crowned bust, i.m. Saltire
  • Reverse: Long cross with 3 pellets in each quarter
  • Coin diameter: 11mm
  • Inner circle diameter: 6mm
  • Weight: 0.25g

Coin Examples:

Henry IV Farthing Heavy Coinage Transitional Issue Type 1.1 Henry IV Farthing Heavy Coinage Transitional Issue Type A
Henry IV Heavy Coinage Transitional Issue Type

Year(s): 1399-1402
Mint: London
Type: Heavy Coinage - Transitional

Obverse: x hEnRIC:REX AnGL'
Legend translated: Henry King of England

Reverse: CIVITAS LOnDOn
"Long Cross" with three pellets in each quarter

Dies: T1/A

Reference(s): S.2487A, North 1948, Withers -

Scarcity: Two known

Guide Price: £1500 (Fine) £3250 (Very Fine)

Coin Characteristics: Heavy Coinage

  • Metal: Silver
  • Denomination: Farthing (¼ penny)
  • Mint(s): London
  • Obverse: Face as Richard II, new crown, Crowned bust, i.m. Cross
  • Reverse: Long cross with 3 pellets in each quarter
  • Coin Diameter: 11mm
  • Inner Circle Diameter: 6mm
  • Weight: 0.22g

Coin Examples: Heavy Coinage

Henry IV Farthing Heavy Coinage Type 1.2 Henry IV Farthing Heavy Coinage Type B
Henry IV Heavy Coinage

Year(s): 1399-1411
Mint: London
Type: Heavy Coinage

Obverse: +hEnRIC:REX·AnGL'
Legend translated: Henry King of England

Reverse: CIVITAS LOnDOn
"Long Cross" with three pellets in each quarter

Dies: H2/B

Reference(s): S.2487A, North 1948, Withers 1.1/a

Scarcity: Rare

Guide Price: £1500 (Fine) £3250 (Very Fine)

Henry IV Farthing Heavy Coinage Type 1.3 Henry IV Farthing Heavy Coinage Type B
Henry IV Heavy Coinage

Year(s): 1399-1411
Mint: London
Type: Heavy Coinage

Obverse: +hEnRIC:REX·AnGL'
Legend translated: Henry King of England

Reverse: CIVITAS LOnDOn
"Long Cross" with three pellets in each quarter

Dies: H3/B

Reference(s): S.2487A, North 1948, Withers 1.1/a

Scarcity: Rare

Guide Price: £1500 (Fine) £3250 (Very Fine)

Coin Characteristics: Light Coinage

  • Metal: Silver
  • Denomination: Farthing (¼ penny)
  • Mint(s): London
  • Obverse: New face and crown with straight flat bottom, Crowned bust, i.m. Cross
  • Reverse: Long cross with 3 pellets in each quarter
  • Coin Diameter: 11mm
  • Inner Circle Diameter: 6mm
  • Weight: 0.20g-0.36g

Coin Examples: Light Coinage

Henry IV Farthing Light Coinage Type 2.1 Henry IV Farthing Light Coinage Type C
Henry IV Light Coinage

Year(s): 1412-1413
Mint: London
Type: Light Coinage

Obverse: +hEnRIC:REX♣AnGL'
Legend translated: Henry King of England

Reverse: CIVITAS LOIDOI
"Long Cross" with three pellets in each quarter

Dies: L1/C

Reference(s): S.1738, North 1368, Withers 2.1/a

Scarcity: Rare

Guide Price: £900 (Fine) £3000 (Very Fine)

Henry IV Farthing Heavy Coinage Type 2.2 Henry IV Farthing Heavy Coinage Type D
Henry IV Light Coinage

Year(s): 1412-1413
Mint: London
Type: Light Coinage

Obverse: +hEnRIC:REX♣AnGL'
Legend translated: Henry King of England

Reverse: CIVITAS LOnDOn
"Long Cross" with three pellets in each quarter

Dies: L2/D

Reference(s): S.1738, North 1368, Withers 2.1/a

Scarcity: Rare

Guide Price: £900 (Fine) £3000 (Very Fine)

Corpus of Coins

This corpus records all coins available for study or known from published sources, auction catalogues and FPLs. Within each section, obverse dies are designated by a type number and a sub-type number, and reverse dies by lower-case letters (e.g 1.2a). An asterisk (*) indicates that there is an illustration on this page of a representative example of that die combination. Recorded weights are given where available.

Abbreviations

  • Ash. — Ashmolean Museum
  • BM — British Museum
  • Fitz. — Fitzwilliam Museum
  • PC — Private Collections
  • wnr — weight not recorded
  • T — Early Heavy Coinage (Transitional)
  • H — Heavy Coinage
  • L — Light Coinage
T1.1a
x hEnRIC:REX AnGL' / CIVITAS LOnDOn
1* PC; Facebook, found nr. Grimbsby, Lincs.; 0.26g
2 PC; Facebook, found nr. Attleborough, Norfolk.; wnr
H1.2b
+hEnRIC:REX·AnGL' / CIVITAS LOnDOn
3* PC; Mike Vosper, September 2006; wnr
H1.3b
+hEnRIC:REX·AnGL' / CIVITAS LOnDOn
4 PC; Alan Cherry, February 2013; wnr
5* Fitz.; ex. Clark, Sotheby 23 May 1898, lot 89 > J.S. Henderson Bequest, 1933; 0.22g
L2.1c
+hEnRIC:REX·AnGL' / CIVITAS LOIDOI
6 BM; ex. Webb > Sotheby, 9 July 1894, lot 120 > Montagu > Sotheby, 11 May 1896, lot 496 > Bascom > Sotheby, 15 June 1914, lot 96 'the gem of the Highbury Find'.8 > BM ref.: 1914,0709.5 ; 0.23g. (ref.: Brooke, G. C. 1932. English Coins, from the Seventh Century to the Present Day. London: Methuen & Co., Pl. XXXIII, no. 12.)
7* Ash.; ex. Baldwin > D.J. Rogers; 0.20g
L2.2d
+hEnRIC:REX·AnGL' / CIVITAS LOnDOn
8* PC ex. Spink Auction 210, 6 October 2011, lot 82 > Marvin Lessen > DNW, 3 July 2019, lot 656X; 0.36g/9h


Footnotes

  1. Bispham, J. "The Base Silver Shillings of Edward VI." The British Numismatic Journal 55 (1985): 139. link(opens in a new tab) ↩
  2. Withers, P. and Withers B. The Galata Guide to Small Change: Hammered Silver Farthings, Halfpennies & Three-Farthings 1279-1660. Llanfyllin, Powys: Galata Print Ltd., 2023.↩
  3. Attribution of this coin, including a complete obverse legend, is based on an entry and an illustration in Folkes, Martin. Tables of English Silver and Gold Coins. 2nd ed. London: Society of Antiquaries, 1745, 45, pl. ix, no. 18. The only known example, in the British Museum, only has a partial obverse legend visible. ↩
  4. The 'Very Base Issue' halfpence had so little silver in them that they were instead used as farthings. It was recorded in the King Edward's Journal on August 18, 1551, that the value of the base coin was further diminished: "The shilling fell from nine pence to six pence, the groat from three pence to two pence, the twopence to a penny, the penny to a halfpenny, the halfpenny to a farthing". ↩
  5. Illustrated in Neck, J.F. "The Silver Coinage of Henry IV., V., and VI." The Numismatic Chronicle 11 (1871): 93–15, Pl. III, no. 8. link(opens in a new tab) ↩

Research & Resources

Contact

For corrections, additional examples, or research enquiries, please email:
admin@hammeredfarthings.co.uk