Farthings, an integral part of British monetary history, are coins that were worth one-quarter of a penny. They were used in Britain for several centuries and hold substantial historical significance.
Historical Context
The term “farthing” derives from the Old English word “feorthing,” which means a fourth part. Farthings date back to Anglo-Saxon times, but they became particularly notable during the medieval and early modern periods in Britain.
Origin
Farthings were introduced as early as the 13th century during the reign of Henry III. Originally made from silver, the farthing evolved over the centuries, transitioning to bronze in the 19th century.
Discontinuation
The coin was eventually discontinued in 1960, as its value became insignificant in the modern economy. The last farthings were minted in 1956.
Types of Farthings
- Silver Farthings: Early farthings were made of silver and are rare and valuable today.
- Copper Farthings: Introduced during the 17th century, these were more affordable to produce.
- Bronze Farthings: From 1860 onwards, farthings were minted in bronze.
Key Events
- 1279: The first official farthings were issued under Edward I.
- 1672: Copper farthings were introduced during Charles II’s reign.
- 1860: The transition to bronze farthings was made during Victoria’s reign.
- 1956: The final minting of farthings.
Detailed Explanation
Farthings played a crucial role in the everyday transactions of medieval and early modern Britain. They were used primarily by common people for small purchases such as bread, milk, and other essentials.
Chart and Diagram
graph LR
A(Silver Farthings) --> B(Copper Farthings)
B --> C(Bronze Farthings)
C --> D(Discontinuation in 1960)
Importance and Applicability
Although farthings are no longer in circulation, they are important for:
- Historical Research: Understanding the economic history of Britain.
- Numismatics: A key interest area for coin collectors.
- Cultural Heritage: Reflecting the daily life and economy of historical Britain.
Examples
- Example 1: A farthing from 1797 featuring the bust of King George III.
- Example 2: A 1953 farthing with Queen Elizabeth II on the obverse.
Considerations
- Condition: The value of farthings for collectors depends heavily on their condition.
- Historical Context: Collectors should understand the historical context to appreciate the coin’s significance.
Related Terms
- Penny: A unit of currency worth four farthings.
- Shilling: Worth twelve pennies or forty-eight farthings.
- Halfpenny: Worth two farthings.
Comparisons
- Farthing vs. Penny: A farthing is a quarter of a penny.
- Farthing vs. Shilling: A shilling is significantly higher in value compared to a farthing.
Interesting Facts
- The smallest British coin in terms of value.
- Farthings featured intricate designs, such as the wren bird.
Inspirational Stories
An anecdote about a Victorian-era child who saved farthings over several years to buy a small toy, reflecting the coin’s role in everyday life.
Famous Quotes
“Take care of the pence, and the pounds will take care of themselves.” - This proverb underscores the importance of small denominations like farthings.
Jargon and Slang
- Tanner: Slang for a sixpence, but commonly known among numismatists.
FAQs
Are farthings worth anything today?
When did farthings go out of circulation?
References
- The Royal Mint
- “Coins of England & The United Kingdom” by Spink & Son
Summary
Farthings, though now obsolete, offer a fascinating glimpse into British history and numismatics. These coins not only facilitated everyday transactions for centuries but also serve as valuable collectibles that reflect the economic evolution of Britain. From silver to bronze, each type of farthing marks a different era, making them significant for historians and collectors alike.
