16 December 2024
You may have heard the phrase: “it’s not what you know, it’s who you know.” This mattered even in 18th century England.
In the 1700s, William Wood, a copper and tin mine owner in England had an abundance of metal and was looking for a way to profit. Wood had heard the American colonies were experiencing a coin shortage. So being an enterprising businessman, Wood used his connection to the king’s mistress—the Duchess of Kendal—to strike a deal with King George I to supply coins to the American colonies.
Under terms of the contract, Wood could produce coins for fourteen years with not more than 300 tons of metal. For that right, Wood had to pay the King 100 pounds each year and the king’s comptroller 200 pounds each year.
Today these lovely coins with a rich history are known as the Rosa Americana coins—which is Latin for “American Rose” and these coins command a hefty price at auction on the rare occasion they surface for sale.
Perhaps in gratitude for the royal contract, the Rosa Americana coins’ obverse features King George I, facing right, with the Tudor Rose on the reverse. The obverse legend highlights the King’s name and title while the reverse legend had various forms of “ROSA AMERICANA” and “UTILE DULCI” which means “THE USEFUL WITH THE AGREEABLE.”
It was widely known that the rose was intended to flatter King George I.
It was included to praise him as a successor to the Platagenets and Tudors—despite his German origin! It is said that King George I even refused to even try to learn English. In fact, he regarded his British crown as much less important as the Hanoverian and Holy Roman Empire titles he also held.
Rosa Americana coins were minted with Bath metal, which is an alloy created from 75% brass, 20% zinc (mixed with tin and bismuth) and 5% silver. The alloy had to be heated prior to striking to keep the dies from cracking. As a result, gas bubbles formed in the metal, which resulted in the coins featuring porous surfaces.
Wood struck Halfpenny, Penny and Two Pence coins. The first Two Pence designs were undated, and the remainder of the coins he struck were dated 1722, 1723 or 1724.
Due to the metal compound, these coins were lightweight and subsequently some American merchants refused to accept the coins in trade. Because the coins were not widely accepted, Wood stopped minting coins in 1723.
In 1725 Wood gave up his patent contract and instead accepted a pension for three years. Nonetheless, his coins remained in circulation in the American colonies until the Civil War. Examples have been unearthed in parts of New England, New York, New Jersey, and Pennsylvania. Among fifty-nine coins found during the restoration of Colonial Williamsburg, two were Rosa Americana pennies dated 1722.
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