Monetary Crisis (1460), as Henry VI fixes exchange rates for foreign coins in Ireland
Introduction: The price of gold rose from the 1430s onward, so gold coins were worth more in Europe than in England, which resulted in a gold shortage in England as coins were exported for profit. This is known as an ‘arbitrage market’ and is also an early example of Gresham’s Law – it caused a…



![IRELAND. Edward IV. First reign, 1461-1470. AR Groat (26mm, 2.40 g, 1h). Heavy ‘Cross and Pellets’ coinage. Dublin mint; im: pierced cross fitchy. Struck 1465. + ЄDWΛRDVS : DЄI : GRΛ : DnS : ҺУBЄRnIЄ (double saltire stops), crowned facing bust within tressure of arches, with inward facing lis on cusps, pellets in three lower spandrels / + POSVI [DЄV]m : Λ DIVTOR • Є mЄVm/ CIVI TΛS DVBL InIЄ (pellet and double saltire stops), long cross pattée with trefoils in angles, additional pellets in second and third angles. SCBI 22 (Copenhagen), –; D&F 133; SCBC 6291. VF, toned, edge splits.](https://oldcurrencyexchange.com/wp-content/uploads/2016/04/edward-iv-first-reign-1461-1470-ar-groat-26mm-2-40-g-1h-heavy-cross-and-pellets-coinage-dublin-mint.jpg?w=220&h=126&crop=1)





