During my
research I came across this token stamped Kings Head in Deptford. Its a 1/4p
Traders Trading Token. Could this refer to the Kings Head Public House which
was on the corner of Church Street and Albury Street ? Trade tokens were
issued in the 17th century, between 1648 and 1673, in response to a lack of low
denomination being produced by the crown. To ease the monetary situation,
boroughs and cities across the country, began producing tokens to be used
within the locality; in London the situation differed, due to the scale of the
population, needed to issue private tokens, rather than one accepted city wide.
Tokens were
issued by tradesmen for their business, and would also be accepted by other
traders in the locality, as long as they knew the issuer and were assured that
they would be able to redeem the value of the token. In a period when people
often lived their entire lives within a relatively small area, this system
would rely on the trust of the businesses in the neighbourhood. Tradesmen would
keep a tray below their counter, where they would collect tokens from other
issuers, and then redeem their collected value with the issuer.
Trade tokens
were most commonly issued, as farthing, half penny, and penny denominations.
Tokens were only issued as farthing tokens until 1656, when half penny tokens
began to be brought in to circulation. With the silver half penny of the crown
going out of use in 1661, this will have further increased the need for a half
penny token, and it was at this time that it became a more common issue than
the farthing. Penny tokens, were also issued by traders, most commonly by
coffee-houses, the goods they sold being of a higher value than may be common
elsewhere. There are also a small number of instances where higher
denominations of coinage were issued, including tuppence and sixpence.
A variety of
information would be represented on the trade tokens; this could include, the
place of issue, the issuers name, their trade, the denomination, with the
denomination, the farthing often was not marked, it was recognisable by its
smaller size, but the half penny and penny tokens often had the denomination
written on them, in text or numerically. Most commonly featured, was a triad of
initials representing those of the issuer, and their wife (or sometimes son).
Read on the token from left to right and the up, the middle initial would be
that of the wife.
Throughout
the period of issue for the trade tokens, there were often plans by the Crown
to produce farthings, it was only in 1672, that the first was finally issued.
On the 16th August 1672, a proclamation was made by the crown, ordering the minting
of trade tokens to cease, a further proclamation was issued in 1673, but it was
only with the issue of a third proclamation in 1674, that the issue of trade
tokens, finally ceased. By this time the use of trade tokens had once again,
begun to fall, so the latest dates for tokens, are relatively rare.
1 comment:
Hello,
I am contacting you on behalf of UP Projects; a non profit arts organisation.
We are embarking on a project entitled Secret Garden Project Lewisham, which looks at a series of parks that run along the Waterlink Way, which seeks to raise awareness of the ecological value of those spaces and their unique characteristics. We will be commissioning artists to respond to four sites; Sue Godfrey, Cornmill Gardens, Ladywell Fields and Riverpool Linear Park.
I would be really interested to speak to you further, but couldn't find a direct email address. Perhaps you could drop me a line (bethan@upprojects.com).
Many Thanks,
Beth Johnson
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