The numismatic chronicle and journal of the Royal ... - IndianCoins.org

100 HENRY SYMONDS.then current was probably of the standard of 4 oz. fine,with a certain number of pieces of 8 oz., 6 oz., and 3 oz.fine, respectively. But even assuming that 12,000meant 24,000, a large quantity of alloy must havebeen added to the bullion when melted, as the weightsof the new Irish coins much exceeded those of thecorresponding English denominations, of which theheaviest shilling weighed 80 grains only.There are no detailed working accounts relative to thisissue, but Thomas Stanley, the comptroller, records thathe made, by virtue of the three commissions, 19,828pounds Troy in " pitched moneys " of 3 oz. fine, whichbeing valued at the prescribed rate of 40s. in eachpound weight would yield 39,656 in Irish currencyof the first coinage (S. P. Ireland, Folios, vol. vi).Simon on p. 43 gives a table, reproduced by Ruding,of the respective quantities struck for Ireland throughoutElizabeth's reign, but some of his data are incorrectand the aggregate figures are consequently affected.It is, however, clear that the amount of the first issuewas small, being less than one-fourth of the basecoinage of 1601-3, which explains the comparativerarity of the shilling and groat of 1558-9.Perhaps I should add that the ratio between the twocurrencysystems in 1560 was 13s. 4d. English to 20s.Irish, or, as one "of the documents expresses it, to turnIrish money into sterling subtract one fourth part, andto turn sterling into Irish add one third part".THE SECOND COINAGE, 1561.The striking of this coinage was preceded by a considerablecorrespondence between London and Dublin,extending over several months. These letters prove