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FOREIGN GOLD COINS OF 1776 PART I- Coins and Weight Tables By Xavier Pique.

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Presentation on theme: "FOREIGN GOLD COINS OF 1776 PART I- Coins and Weight Tables By Xavier Pique."— Presentation transcript:

1 FOREIGN GOLD COINS OF 1776 PART I- Coins and Weight Tables By Xavier Pique

2 PURPOSE- PART I Look at Gold Coins circulating in the early U.S. Look at Weight, and Value Tables

3 Second Continental Congress- Met in In Philadelphia and Baltimore John Trumbulls Painting of the Continental Congress

4 1776- United States becomes a sovereign nation

5 At War With Great Britain

6 U.S. will not have its own coinage until 1792 Many Different Gold/Silver Coins Circulate

7 How will Commerce and Trade be conducted?

8 What will the Founders of the Nation Use as Money?

9 Continental Currency- A Flop No one Trusted paper money

10 Committee on Coinage Established Conducted Inquiry on existing Foreign Coins

11 September, 1776 Journals of Congress Declared relative value of silver to Gold to be 14.5 to 1 Table giving Value of Foreign Gold & Silver Coins Declared the Spanish Pillar Dollar as the Standard Based on Isaac Newtons chart of 1702 for Royal Mint

12 Journals of Continental Congress, Sept. 2, 1776, Page 726

13 Silver Coins Spanish Milled Dollar French Ecu 60 Sols Tournois French Crown English Shilling English Sixpence 1732 Spain Piece of 8 English Shilling 1745

14 Gold Coins Old Spanish Double Doubloon Old Spanish Pistole Johannes of Portugal Half Johannes Double Moeda- Portugal Moeda- Portugal Moeda- Portugal Old Louis DOr- France New Louis DOr English Guinea of William III English Half Guinea of William III Chequin of Venice

15 Gold Coins (Cont) The Hungary Ducat The Ducat of Holland Ducat of Campen in Holland Ducat of the Bishop of Bamberg Ducat of Brandemburg Ducat of Sweden Ducat of Denmark Ducat of Poland Ducat of Transylvania Ducat of the Duke of Hanover Double Ducat of the Duke of Hanover

16 Spain Eight Escudos (Doubloon) 1758 Ferdinand VI Weight: 26.9 grams Diameter: 1.45 inches

17 Spain 4 Escudos 1786 Carlos III Weight 13.5 grams

18 Spain 2 Escudos 1786 Carlos III Weight 6.75 grams Also Known as Pistole

19 Spain 1 Escudos 1787 Carlos III Weight 3.37 grams

20 Spain ½ Escudo Gold 1773 Carlos III Weight: 1.7 grams Diameter:.60 inches

21 Portuguese gold coins.917-Moidore Series Dobrao Reis- Dobrao Reis- Half Dobrao Half Dobrao Moidore or Cruzado Reis Moidore or Cruzado Reis ½ Moidore ½ Moidore ¼ Moidore ¼ Moidore 1/10 Moidore 1/10 Moidore

22 Portuguese Gold Coins Joannes Series (Joes).917 Joannes of Reis-- Joannes of Reis-- 1/2 Joe 6400 Reis 1/2 Joe 6400 Reis ¼ Joe 3200 Reis ¼ Joe 3200 Reis Escudo Reis Escudo Reis Quartinho/ ¼ Moidore-1000 Reis Quartinho/ ¼ Moidore-1000 Reis ½ Escudo 800 Reis ½ Escudo 800 Reis Cruzado- 400 Reis Cruzado- 400 Reis

23 Moeda of Portugal- Moidore (4000 Reis) 1704 Peter II grams, 91,66% Gold 29 mm

24 Portugal- Josephus I Grams

25 Portugal Joannes Reis Weight Grams

26 Joannes V (Joe) of Portugal Grams

27 Portugal Reis Johannes V 1724 Weight 53.8 g (31.11 dwt)- 1dwt=approx 1.5 grams

28 France Double Louis DOr 1747 Weight 16.2 g

29 French Ecu DOr (Louis XV) 1726 weight 8.17 g

30 England- Gold Guineas- William III (Top) 1700 George III Guinea 1777 Weight 8.35 g 25mm.916

31 William III Half Guinea 1696

32 William III 5 Guineas 1701

33 Spain 2 Escudos 1786 Carlos III Weight 6.75 grams Also Known as Pistole

34 Friedrich II. German Pistole grams

35 German States Bishop Wilhelm Anton von der Asseburg, Pistole (5 Taler),

36 Gold Zeccino from Venice with countermarks

37 Italy, Venice, Alvise II Mocenigo ( ), Zecchino, undated, Doge kneeling before St. Mark, rev

38 ITALY. Papal States. Zecchino, 1772/ Clement XIV ( ).

39 Gold Ducat of the Netherlands which was valued at 9 shillings and sixpence in the proclamation. A small 21.8mm coin minted from about 3.49g of fine gold

40 Ducat of Holland, 1771

41 Ducat of Germany 1746

42 Ducat Of Transylvania 1684

43 Ducat of Poland 1630

44 Ducat of Bavaria

45 Austrian Royal Emperor Joseph II 1788 Gold ducat

46 Grivna (Ukraine) Peter II ducat

47 1764 Netherlands Utrecht Gold Ducat

48 Ducat of German States Cassel 1746

49 Journals of Continental Congress, Sept. 2, 1776, Page 726


51 Isaac Newtons Assay for the Royal Mint- 1702

52 MONEY TABLE GOLD COINS Weight.Value. Dwt. Grs.£s. d. The Guinea12 9 (And all other pieces of the same species in proportion.) The Moydore The half Moydore The quarter Moydore117½07 4 The quadruple Pistole of Gold or Doubloon The Spanish or French double Pistole of Gold or the Doubloon or Double Louis d'or The Spanish or French Pistole of Gold The Spanish or French half Pistole of Gold The Spanish or French quarter Pistole of Gold The French Louis d'or of the new species The French half Louis d'or of the new species proportionably214½011 0 The French quarter Louis d'or of the new species proportionably117¼05 6 The piece of new Gold coin of Portugal1810½317 8 The piece of new Gold coin of Portugal95¼ The piece of new Gold coin of Portugal414½019 6 The piece of new Gold coin of Portugal27¼09 10 The piece of new Gold coin of Portugal13½04 11 [Warrants not relating to Money XXV. pp. 462–4.]

53 Poor Richards Almanack, 1746 Contained Money Table

54 FROM POOR RICHARD'S ALMANAC, 1746 A Table for the more ready casting up of Coins, in Pennsylvania. Spanish English No.No. 90 pence Ps. Eight. 324 Pistoles. 408 Guineas. 522 Moidores. £ £ s.s. d. £ s.d. £ s.d.£s.d d per shilling 20 s per £

55 Excerpt from Continental Army letter Feb 9, 1776

56 SUMMARY- PART I Tables- Neded to Determine Coins value Gold Coins- Many varieties and weights in circulation PART 2- Coin Scales and Coin Weights

57 The End of PART I Greshams Law Bad Money Drives Out Good Sir Thomas Gresham ( )

58 REFERENCES html r_gold_ducats_of_the_sforza.aspx A manual of gold and silver coins of all nations struck within the past... By Jacob Eckfeldt

59 12 Trolls of Troy- for remembering a Troy ounce is bigger than regular ounce, but a Troy Pound is shorter than the regular pound (only 12 Oz) TR oy O unce L ong TR oy O unce L ong £ ( pound) S hort

60 TROY WEIGHTS TO GRAMS UnitGrainsGrams Troy pound (12 troy ounces)5, Troy ounce (20 pennyweights) Pennyweight Grain

61 GOLD 1 GUINEAS Charles II James II William & Mary William III Anne George I George II George III George III Technical Specifications Diameter25 to 26 mm. Weight grams Alloy22 carat Fineness Actual gold content ounces.

62 Pistole is the French name given to a Spanish gold coin in use in 1537; it was a double escudo, the gold unit. The name was also given to the Louis d'Or of Louis XIII of France, and to other European gold coins of about the value of the Spanish coin. One pistole was worth approximately ten livres.Spanishcoinescudo Louis d'OrLouis XIIIlivres In Dumas' The Three Musketeers, set in the 1620s, we learn that one hundred pistoles were worth a thousand livres tournois when Athos bargains for the horse he takes to the battle of La Rochelle. (GF Flammarion edition, p. 396) Since three livres were worth a French ecu, one hundred pistoles is worth ecus. (One livre was also worth one franc when the latter were issued about The franc was in turn replaced by the louis d'or.)Dumas'The Three Musketeerslivres tournoisFrench ecufranclouis d'or A coin with this name was minted in Scotland in 1701, undeScotland From 'The slang term doubloon (from Spanish doblón, meaning double) refers to a seven-gram (0.225 troy ounce) gold coin minted in Spain, Mexico, Peru, or Nueva Granada. The term was first used to describe the golden excelente, either because of its value of two ducats, or because of the double portrait of Ferdinand and Isabella. Later, it referred to a coin worth two escudos ( troy ounce gold), first minted in 1566, during the reign of Philip II of Spain.

63 1/2 Escudo 1778 M-PJ Charles III (Madrid, Spain) Obverse: CAROL · III · D · G · HISP · R · 1778 · Reverse: [no legend] Weight: 27.5 g (1.78 grams) Diameter: 14.7 mm an 8 Escudo Spanish gold doubloon (27.19 grams) Diameter: 37.8 mm

64 THE FRENCH - SPANISH PISTOLE * Estimated from the Proclamation of that the pistole value was 17s UnitCoin Tolerance Weight English value Quadruple Pistole (Doubloon) 4 French louis d'or 8 Spanish escudo 17dwt 8gr £3 8s 0d* Double Pistole 2 French louis d'or 4 Spanish escudo 8dwt 16gr £1 14s 0d* One Pistole 1 French louis d'or 2 Spanish escudo 4dwt 8gr 17s 0d Half Pistole ½ Fr. louis d'or 1 Spanish escudo 2dwt 4gr 8s 6d* THE PORTUGUESE MOIDORE Weights and values from coinweight box label of c1773. * Estimated 5 Moidore 20,000 reis 1oz 14dwt 15¼gr £6 15s 0d* 2½ Moidore 10,000 reis17dwt 7½gr £3 7s 6d* 1 Moidore 4,000 reis6dwt 22¼gr £1 7s 0d ½ Moidore 2,000 reis3dwt 11gr 13s 6d ¼ Moidore 1,000 reis1dwt 17gr 6s 9d THE PORTUGUESE ESCUDO Weights and values from coinweight box label of c1773. (Double Joe) Port Piece 8 escudo18dwt 10gr £3 12s 0d (Joe) Half Port Piece 4 escudo9dwt 5gr £1 16s 0d Quarter Port Piece 2 escudo4dwt 14½gr 18s 0d One eighth Port Piece 1 escudo2dwt 7¼gr 9s 0d One sixteenth Port Piece ½ escudo1dwt 3½gr 4s 6d


66 FRENCH ROYAL COINS Louis XV ( ), 1/5 écu à la vieille tête

67 AR dixieme d'ecu (12 sols), 1741, 21.5mm, 2.81gr. Obv: LUD.XV.D.G.FR.ET.NAV, portrait facing left. Rev: SIT NOMEN DOMINI BENEDICTUM 1741, circle with three lis, surmounted by a large crown, shield bracketed by wreath. Mint is Caen - C at bottom of reverse. D1683, C2127. Contemporary English coins: George I, George II, George III.George I,George IIGeorge III.

68 George II Shilling 175

69 George III Shilling

70 Old French Ecu 1781 Silver

71 JAMES II CROWN 1688 William III Crown 1700


73 and from that of William the Conqueror among the English, the proportion between the pound, the shilling, and the penny, seems to have been uniformly the same as at present, though the value of each has been very different ; for in every country of the world, I believe, the avarice and injustice of princes and sovereign states, abusing the confidence of their subjects, have by degrees diminished the real quantity of metal, which had been originally contained in their coins. The Roman as, in the latter ages of the republic, was reduced to the twenty-fourth part of its original value, and, instead of weighing a pound, came to weigh only half an ounce. The English pound and penny contain at present about a third only ; the Scots pound and penny about a thirty-sixth ; and the French pound and penny about a sixty-sixth part of their original value. By means of those operations, the princes and sovereign states which performed them were enabled, in appearance, to pay their debts and fulfil their engagements with a smaller quantity of silver than would otherwise have been requisite. Value of use; value of exchange Wealth of Nations- Adam Smith


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