A very collectable, high-grade silver Eighteenpence Bank of England token, dated 1816. On the obverse is the second laureate head of King George III facing right. The reverse features the denomination and date within oak and laurel wreath.
This fascinating series of coins came about due to the heavy costs, running at many millions due to the war with France and its allies. The threat of invasion on our shores, and especially in Ireland, caused a withdrawal frenzy with the banks, creating a short supply on silver and gold. The Bank of England coped by counter-stamping foreign coins to begin with, then issuing these tokens to fill the gap before the great re-coinage in 1816.
Obverse
Second laureate bust facing right. GEORGIUS III DEI GRATIA REX.
Reverse
Denomination and date within oak and laurel wreath. BANK TOKEN 1s 6d 1816.
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