Sixpence of Elizabeth I
1560s– ・ silver ・ 16th century ・ Tower of London mint
The credit of the coinage, brought to the ground by the great debasement of her father Henry VIII, was bought back by Elizabeth I in the great recoinage of 1560–61, soon after her accession. Debased coin was called in and struck again as good coin of the sterling standard. This sixpence is silver from after that recovery. The plan was put to her by her financial adviser, Thomas Gresham. A piece from the winning side of the fight against the phenomenon known to later ages under his name: bad money drives out good.