Good and bad money
Many of Henry VIII's 'debased' silver coins actually contained more cheap metal such as copper than silver. As the coins wore down the copper shone through his image, earning him the nickname 'Old Coppernose'. By contrast, Elizabeth's new coins were made of 'fine' silver and gold once more.
Photo © National Portrait Gallery, London
A question of honesty
To test the honesty of Mint officials, 'trial plates’ made of gold or silver were divided up and distributed to the Mint, Treasury and Goldsmiths’ Company. Samples of metal from the plates were regularly compared to coins made at the Mint. If they were not identical, the Master of the Mint was in trouble!