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Great Recoinage

大改鋳　—　Institutions

The complete recoinage of silver coins beginning in 1696. A costly state project carried out in line with Locke's theory of maintaining the old par value.

Sixpence of Elizabeth I Sixpence of Elizabeth I1560s– Crown of William III Crown of William III1696
A photograph of the real thing this term names.

The complete recoinage of English silver coins beginning in 1696. A costly state project to replace clipped and worn hammered silver coins with milled ones, carried out in line with Locke's theory of maintaining the old par value.

⚠ It was during this project that Newton fought against counterfeiting at the Mint. The credibility of the currency was, for a time, bought back with the full force of the state.