1689 James II, Gunmoney shilling, large size, July + full stop

James II & his Gunmoney: July 1689 (timeline)

The introduction of the new ‘gunmoney’ sixpence in June was a qualified success for deposed King James II and he quickly moved to cash in even more when he ordered the issue of shillings and halfcrowns for July. The coin presses in Capel Street were in production 24 hours a day, with mint workers employed…

Gunmoney coinage, Sixpence, 1689 June + full stop (1)

James II & his Gunmoney: June 1689 (timeline)

This was never going to be enough and the answer to James’s financial predicament came from a Protestant – William Bromfield, an English Quaker and one time surgeon who invented the world’s first ‘fiat’ currency based upon a promise to pay at a later date