VIBECE FURSETH BECOMES NORWAY’S FIRST FEMALE MINT MASTER
Vibece Furseth in the Samlerhuset Group is taking on a new role, becoming the first female mint master and CEO of the Norwegian Mint in Kongsberg.
Vibece Furseth will take on the role of CEO and mint master for the Norwegian Mint in March. She has held many important positions in the Samlerhuset Group over the course of 25 years, and currently holds the role of Operations Director in Samlerhuset Norway. Vibece will continue to lead Samlerhuset Norway’s operations department and is part of the company’s management team, while also becoming the mint master in Kongsberg.
She takes over from Ståle Løkken by the end of March.
“The Mint has a first-class team that is in the international league in the field of coin minting, and with commercial insight and in-depth knowledge of the industry, I believe Vibece will be an ideal leader and bring many business opportunities to the Mint in the future,” says founder and chairman of the board of the Samlerhuset Group, Ole Bjørn Fausa.
“We thank Ståle Løkken for his good years at the Mint and wish him good luck with new important tasks at a new, strong Kongsberg enterprise,” he continues.
The Norwegian Mint was established in Kongsberg in 1686 and has had almost 50 mint masters during this time, all of whom have been men. Furseth thus becomes Norway’s first female CEO and mint master for the Norwegian Mint.
“I am taking over a well-run Mint with over 300 years of traditions in Norwegian industrial history, and I look forward to being part of the competence environment that the Mint represents in coin and minting technology. I have broad experience in the industry and am excited to explore new commercial opportunities for the Norwegian Mint,” says incoming CEO, Vibece Furseth.
The Norwegian Mint in Kongsberg is owned by the Samlerhuset group and produces coins and medals, including the official circulation coins in Norway, on behalf of the Norwegian Bank. The Norwegian Mint also produces the Nobel Prize medals annually.
RULE BRITANNIA! Evolution of an Icon
British numismatic historian, Justin Robinson, takes us on a fascinating journey spanning 2000 years as he examines how the powerful symbol of Britannia changed and evolved over the centuries.
Napoleon’s Gold Angel: Lucky or Unlucky?
A quick and somewhat irreverent look at the history of the French Gold Angel coin. Find out why it has become known as Napoleon’s Lucky (or possibly UNLucky) coin!
The First Polish Constitution, Commemorated on a Dutch Medal 
The Polish Constitution of 3 May was adopted 230 years ago. Thomas Jefferson, who then served as an American envoy in Paris and later became the President of the USA, stated that there were only three constitutional acts that deserved recognition: those of the United States, Poland and France. The introduction of the May Constitution was one of the most momentous events in the history of the Polish-Lithuanian Commonwealth, and an attempt at defending its independence. Unfortunately, the joy was short-lived. In 1792, a confederation of conservatives opposing all reform appealed to Empress Catherine II to intervene. The Russian army entered Poland, and the end of the Commonwealth drew near.
3 May 1791 – Sejm Proceedings under Military Escort
Faced with the progressive limitation of the Polish-Lithuanian Commonwealth’s sovereignty (following the first partition in 1772) and a growing dependence on Russia, patriots started calling for reform. A chance to introduce them arrived during the Great Sejm (1788-1792). The confederated Sejm (which could not be broken off) culminated in the adoption of the Constitution of 3 May 1791.
The legislation was passed in a controversial manner, in circumstances that could be likened to staging a coup. The proceedings were held two days before the planned date, thus a number of MPs and senators (including many conservative) were not in Warsaw at the time. The army surrounded the Royal Castle, where the Sejm congregated, in order to quell any possible unrest. Military men disguised as valets guarded the members of the progressive patriotic faction. Marshal of the Sejm Stanisław Małachowski was given special protection.
The session was heated from the very beginning. Everyone was aware of the gravity of the moment. And although patriots had the advantage, their opponents did not want to surrender without a fight. Member of Parliament Jan Suchorzewski, who opposed the reforms, even proclaimed that he would sooner kill his son than let him live under the oppression that the country was about to experience.
Amidst noise and nearly theatrical scenes, the king and the Marshal of the Sejm strove to have the Constitutional act ratified. The draft for the document had been prepared in secret by a team which included King Stanisław August, Stanisław Małachowski, Ignacy Potocki, Hugo Kołłątaj and others, aided by the royal secretary Scipione Piattoli.
Changes Introduced by the May Constitution
The Constitution comprised eleven articles. It acknowledged the Roman Catholic creed as dominant, but guaranteed the freedom of practicing other religions. The nobility was to keep their privileges and prerogatives, with the exception of the infamous ‘liberum veto’, which allowed any single member of parliament to cause an immediate termination of the ongoing session. The Constitution also upheld the provisions of the Free Royal Cities Act adopted on 18 April 1791, which granted townspeople the right to send their representatives to the Sejm, guaranteed their personal freedom and allowed them to purchase land estates and hold public office, thus offering a path to social advancement to a substantial section of the society. The issue of the peasantry was also tackled. While not granting peasants any specific rights or freedoms, the Constitution was the first act to acknowledge them as a part of the civic community, alongside the nobility and townsfolk.
The Commonwealth was to be governed in accordance with the principle of the separation of power, divided into the legislative (the Sejm), the executive (the king and the ‘Guardians of the Law’) and the judiciary branch. A bicameral parliament was established; it was to convene on a biannual basis. Laws would be passed by a majority vote. It was also expected that a Constitutional Sejm would be held every twenty five years, to introduce necessary amendments to the Basic Law.
The king held executive power together with ‘Guardians of the Law’, i.e. his government. Aside from the monarch and the primate, the body was to comprise five ministers, responsible for Foreign Affairs, Internal Affairs, Police, Treasury and War. The ‘Guardians’ were appointed by the king. The Constitution also abolished royal elections in favour of hereditary monarchy. After the death of Stanisław August, the throne was to pass to the House of Wettin. If the king happened to be underage, the ‘Guardians of the Law’ were to act as regents, led by the queen or, in her absence, by the primate of the country.Lastly, the Constitution introduced changes to the judicial system. Courts of first instance would be established in all voivodeships, lands and counties. The choice of judges lay with local assemblies (sejmiki). Additionally, each province was to have a Supreme Tribunal, which served as the court of appeal.
The Dutch Medal Presented to the King of Poland
The adoption of the Constitution was an event that reverberated both within the country and worldwide. Such a momentous occasion had to be commemorated in a fitting manner – and, indeed, it was, not only by publishers and artists producing propagandist prints, but also by medallist.
A unique work of the art of medal-making was created in Amsterdam in 1791. Rich in symbolic depictions, the coin was minted to honour King Stanisław August Poniatowski, and was presented to him as a gift. The donators were citizens of the United Provinces (the Netherlands), by the names of Gülcher and Mülder. A Warsaw-based banker Piotr Blank acted as an intermediary, making sure that the king received the gift.
The donators enlisted the services of an excellent Dutch medallist Johann Georg Holtzhey (1729-1808), master of the mint in Amsterdam and Utrecht.
Holtzhey designed the obverse of the medal to feature an elegant royal portrait of Stanisław August. In an interesting propagandist move, he chose to adorn the king’s head with oak leaves instead of the more typical laurel. In Ancient Roman tradition, an oak wreath was granted as a reward for extraordinary civic merit. Aside from the king’s customary titles (“Stanisław August, z Bożej łaski król Polski i wielki książę litewski” [Stanisław August, by the Grace of God King of Poland and Grand Duke of Lithuania]), the legend around the rim of the coin included the phrase “PATRIAE PARENS” [Father of the Homeland].
The main motif on the reverse is the quartered coat of arms of the Commonwealth (with the Poniatowski family crest – Ciołek), depicted on a globe-shaped field, topped with a mural crown and a Christogram (to signify religious tolerance). Beside it, a winged genius holds a Phrygian cap (a symbol of freedom) in his right hand, and an olive branch and a caduceus in his left. The broken shackles depicted at the genius’ feet represent foreign violence.
The background features sunbeams and the eye of Providence keeping watch over the citizens’ endeavours. To the left of the coat of arms, the medallist depicted a fasces, scales and the sword of justice, to represent fair and equal judgment for everyone in the country. The surrounding inscription reads: “TERRORE LIBERA” [Free of Fear]; the one beneath the main motif is: “EX PERHONORIFICIO COMITIORUM DECRETO D.III MAY MDCCXCI” [By Honourable Decree of the Assembly on 3 May 1791].
Treason at Targowica
The May Constitution was a short-lived act. In 1792, opponents of the reforms formed a conspiracy that led to a Russian intervention. A group of magnates, among them General of Artillery of the Crown Stanisław Szczęsny Potocki, Great Crown Hetman Franciszek Branicki and Field Hetman Seweryn Rzewuski, met at Targowica in Ukraine to establish a confederation that would defend the freedoms they believed Constitution to violate.
Their actions were enthusiastically welcomed by the Russian Empire, which – having signed a peace treaty with Ottoman Turkey – sought to reinstate its weakened influence over Poland. Empress Catherine II happily assumed the role of ‘protector of freedom’ and deployed nearly 100,000 troops to Poland to “aid the common cause of restoring to the Commonwealth its rights and privileges”. This was the beginning of the Russo-Polish War of 1792, a conflict that would hasten the demise of the Polish-Lithuanian Commonwealth.
These painful events were commemorated on a medal coin, the so-called Targowica thaler, issued in 1793 at the initiative of the confederates. Unusually, the obverse did not feature the likeness of the king, only a propagandist inscription glorifying the ‘patriotic’ deeds of the confederation: ”Obywatelom, których miłość kraju powodowała, że starali się bronić wolności polskiej, zniszczonej przez spisek z dnia 3 maja 1791 r. – Rzeczpospolita powstająca” [To the citizens whom love of their country prompted to defend Polish freedom, destroyed by the conspiracy of 3 May 1791 – the Commonwealth Rising]. The message was additionally reinforced by the wording of the inscription around the rim: “Wdzięczność współobywateli przykładem dla potomności” [In gratitude to fellow citizens to set an example for posterity].
The reverse also differed from that of standard thaler coins. Instead of the coat of arms, it depicted the following inscription: “Postanowieniem Rzeczpospolitej skonfederowanej w dniu 5 grudnia 1792 r. za panowania Stanisława Augusta” [By decree of the Confederated Commonwealth on 5 December 1792, during the reign of Stanisław August].
The Grodno Sejm, the last session of parliament in the history of the Polish-Lithuanian Commonwealth, held in 1793 with ‘encouragement’ from the Russian army, ratified the second partition of the country and nullified the May Constitution. The final attempt at saving Poland’s independence came in 1794, in the form of an uprising led by general Tadeusz Kościuszko. The insurrection was suppressed by Russian forces; and one year later Poland ultimately disappeared from the map of Europe.
Marcin Brzezinski is a graduate of the Faculty of Journalism and Political Science at the University of Warsaw. He is interested in the history of Polish aristocracy and old photography. Author and co-author of several books, including: “Adam and Jadwiga Czartoryski. Photographs and Memories” (2013), “Stanisław Kazimierz Kossakowski. I love photography” (2019). Co-creator of historical exhibitions, including: “For here we do not have an enduring city – a story about palaces on the Royal Route in Warsaw” (2010). He has been cooperating with the National Treasury (Skarbnica Narodowa) for several years. The area of his numismatic interest is primarily historical Polish coins.
Pierwsze polskie banknoty
By Marcin Brzeziński
Rok 1794 zapisał się w dziejach Polski wyjątkowo. Nie tylko wybuchła insurekcja kościuszkowska. Obywatele po raz pierwszy w dziejach płacili banknotami. Władze powstańcze, wobec niedoborów złota i srebra, zadecydowały o druku pieniędzy. Banknoty nie cieszyły się jednak wielką popularnością. Wykonane z nietrwałego materiału przetrwały w nielicznych egzemplarzach, które na aukcjach osiągają zawrotne ceny.
Od konstytucji do Targowicy
Rok 1791 zapisał się w dziejach Polski wielkim wydarzeniem. Trzeciego maja uchwalono nowoczesną konstytucję, która w zamyśle sygnatariuszy miała zmienić kształt państwa i zaowocować szerokimi reformami. Decyzja sejmu uruchomiła jednak lawinę wypadków, które doprowadziły do ostatecznego rozbioru Rzeczpospolitej w 1795 r. Po zawiązaniu konfederacji targowickiej przeciwko reformom konstytucji do Polski wkroczyły w 1792 r. wojska rosyjskie. Dwa lata później rozpoczął się zryw narodowy.
Powstańcza reforma monetarna
W 1794 r. wybuchło powstanie pod wodzą Tadeusza Kościuszki, które było ostatnią próbą ratowania niezawisłości kraju. Władze powstańcze przystąpiły m.in. do reorganizacji finansów. Króla pozbawiono przywileju produkcji pieniądza. Stanisław August Poniatowski początkowo oponował, ale ostatecznie wsparł Komisję Skarbową własnymi zasobami srebra i gotówki. Kruszec do bicia monet pochodził także z konfiskaty paramentów liturgicznych ze świątyń różnych wyznań.
Rada Najwyższa Narodowa zmieniła obowiązującą stopę menniczą. Z grzywny kolońskiej (233,812 g) srebra należało wyprodukować talary, dwuzłotówki i złotówki o łącznej wartości 84 ½ złotego. Zaprzestano emisji półtalarów i srebrnych groszy podwójnych. Wznowiono natomiast produkcję szóstaków.
Ciekawostką menniczą z roku 1794 były tzw. półstanisladory (z fr. stanislaus d’or) oraz stanisladory bite w złocie próby 833/1000. Pierwsza z monet miała wartość półtora dukata a druga trzech dukatów. Stanislador ważył ok. 12.4 g. Wybito go w nakładzie ok. 5200 sztuk. Półstanislador miał masę ok. 6,2 g a jego nakład oscylował w granicach 8100 sztuk.
Papier zamiast brzęczącej monety
Zupełną nowością w polskim systemie pieniężnym były pierwsze banknoty, które pojawiły się w 1794 r. Funkcjonowały jako bilety skarbowe i zdawkowe. Zastępowały monety, których nie można było wybić. Pierwsze z nich posiadały nominały: 5, 10, 25, 50, 100, 500 i 1000 zł, które różniły się odcieniem papieru. W praktyce były to państwowe skrypty dłużne. Umieszczono na nich informację, ze Skarb Narodowy zobowiązuje się wypłacić w przyszłości i w monecie każdemu posiadaczowi określoną na banknocie kwotę. Gwarancją wypłaty miały być dobra narodowe przeznaczone do sprzedaży.
Na awersie banknotów/biletów skarbowych umieszczono tekst uchwały Rady Najwyższej Narodowej. Pod nim widniały Orzeł Biały i Pogoń oraz symbole rewolucji francuskiej. Te ostatnie to m.in. czapka frygijska, fragment murów więziennych oraz łańcuchy absolutyzmu zerwane przez lud. Co ciekawe podpisy na dole banknotów oraz kolejne numery wpisywano odręcznie. Rewers był pozbawiony jakichkolwiek nadruków. Najwyższe nominały (w tym 500 zł) miały bardzo niewielki nakład, oceniany na 500 do 1000 sztuk. Nakład banknotów pięciozłotowych sięgał sześćdziesięciu tysięcy egzemplarzy.
W czasie insurekcji oprócz biletów skarbowych funkcjonowały bilety zdawkowe (papierowe znaki pieniężne zastępujące monetę). Miały postać niewielkich kartoników. Na ich awersie widniały herby, nominał i nazwa emitenta. Na rewersie faksymile podpisu Filipa Malinowskiego, komisarza Dyrekcji Biletów Skarbowych. Bilety zdawkowe miały nominały: 5, 10 groszy oraz 1 i 4 zł.
Ograniczone zaufanie społeczeństwa i aukcyjne rekordy
Banknoty nie zyskały sobie większej popularności. Złożyło się na to kilka czynników. Obietnica przyszłej wypłaty w pieniądzu kruszcowym, po sprzedaży dóbr państwowych, nie miała gwarancji. Władze powstańcze zezwoliły na płacenie podatków biletami skarbowymi tylko do wysokości 50%, resztę należało uiścić w monetach. Z drugiej strony armia kościuszkowska mogła płacić za wszystko biletami skarbowymi w całości. To spowodowało, że ludność podchodziła do banknotów z dużą nieufnością. Ich zasięg pozostał bardzo ograniczony. Ze względu na nietrwałość papieru, z którego je wykonano zachowało się niewiele egzemplarzy. Te które przetrwały są kolekcjonerskim rarytasem.
W lutym 2019 roku zapłacono najwyższą jak dotąd kwotę za polski banknot. Podczas wrocławskiej aukcji numizmatycznej nabywca kupił 500 zł z 1794 r. za 220 tys. zł! Tym samym został pobity rekord z 2018 r. gdy 10 zł z 1919 r. sprzedano za 110 tys. zł.
Marcin Brzeziński – absolwent Wydziału Dziennikarstwa i Nauk Politycznych Uniwersytetu Warszawskiego. Zajmuje się losami polskiej arystokracji, interesuje starą fotografią. Autor i współautor kilku książek, m.in.: Adam i Jadwiga Czartoryscy. Fotografie i wspomnienia (2013), Stanisław Kazimierz Kossakowski. Kocham fotografię(2019), współtwórca wystaw historycznych, m.in.: Nie mamy tu miasta trwającego – opowieść o pałacach przy Trakcie Królewskim w Warszawie (2010). Od kilku lat współpracuje ze Skarbnicą Narodową. Obszarem jego zainteresowań są przede wszystkim polskie monety historyczne.
The Seven LUCKIEST Coins in the World
Do coins have the power to bring GOOD LUCK? For centuries, many have believed this to be true. There are countless stories of how coins have ensured fortune and luck (and in some cases, the loss of a coin has led to failure and even disaster!) While your choice of a personal good luck charm remains completely up to you, let’s examine SEVEN of the most popular lucky coins around the world.
1. The Silver Sixpence (Great Britain)
In Great Britain, the Lucky Sixpence appears in the nursery rhyme Sing a Song of Sixpence as well as the tradition of hiding a Sixpence inside each British child’s Christmas Pudding to bring good luck for the new year.
Even better known is the mention of this coin in the famous wedding rhyme: “Something borrowed, something Blue, and a Sixpence for her shoe.” For centuries, brides have been wearing a sixpence coin in their shoes in the hope that their marriage be filled with prosperity and good luck. For that reason, British sixpence coins are among the most popular wedding gifts for brides.
2. The Lucky Irish Penny (Ireland)
The Lucky Irish Penny was minted in Ireland from 1928-1968. In 1926, as designs were being considered for this new coin, Irish poet William Butler Yeats was named the design committee’s chairman. Ultimately, the committee selected a design of the Irish harp, which traced its origins to a coin first issued by Henry VIII in 1534. The coin’s reverse side, it was decided, would feature a hen and chicks design as a tribute to Ireland’s tradition of agriculture.
These coins were first minted in 1928 and continued to be issued virtually unchanged until 1968. Struck in copper, each coin weighs approximately an ounce. The coin’s inscription is in Gaelic, the native language of Ireland.
Large and relatively inexpensive, the Lucky Irish Penny is a popular good luck piece carried in pockets throughout the world.
3. Leap Year Mercury Dimes (United States)
Many gamblers across the U.S. swear by the luck of the leap year Mercury Silver Dime. This widespread superstition likely stems from an overall belief in the power of silver coins coupled with Mercury being the god of “the crossroads” or fate, as well as chance. The leap year dates that occurred during the run of the Mercury Dime series are 1916, 1920, 1924, 1928, 1932, 1936, 1940, 1944.
The belief in the Leap Year Mercury Dime is particularly ironic, however, since this silver dime has long been misidentified as depicting the Roman god Mercury, when it actually features Lady Liberty wearing a winged cap – symbolizing freedom of thought.
4. The Five-Yen Coin (Japan)
Many Japanese people believe in destiny. The term “go-en” (ご縁) refers to those seemingly serendipitous encounters that result in long and meaningful relationships. The Japanese 5-yen coin is also called “go-en” 五円. Because it sounds the same as the “go-en” of destiny, many Japanese people believe that holding a 5-yen coin will help them discover what the Universe has in store for them. This could involve finding soulmate spouse, a perfect job, a dream home, or many other facets of life.
Similarly, 5-yen coins are commonly placed into offering boxes at shrines while one utters a prayer of thanks, followed by a wish for something in the future (always in that order). Because this belief all ties back to destiny, a 5-yen coin is seen as simply helping along the good luck and the serendipity that is actually always meant to be!
5. Vault Protector/Cash Coins (China)
In China, “cash coins” featuring a square hole in the middle hold a special meaning. The square in the centre represents the four corners of the Earth while the outer circle shape symbolizes the heavens around it. In ancient China, money was often frequently carried on strings rather than in purses. These coins are also often worn around the neck with a red ribbon as amulets to fight off negativity and illness.
Certain large and heavy cash coins are known as “Vault Protector” coins. Created only for special occasions, Chinese mints would sometimes cast large, thick, and heavy coins with a square hole in the centre. These coins were not for circulation – but instead occupied a special place at the treasury. The treasury had a spirit hall, where offerings could be made to gods such as the God of Wealth. These special coins would often be hung with red silk through their square hole, suspended above the incense table. They were called Vault Protector coins because they were believed to have charm-like powers to protect against evil and disaster, thus ensuring good fortune, prosperity, and wealth.
Giving a gift of Chinese cash coins ensures that the receiver is granted your wishes of wealth, prosperity and happiness.
6. Touch Pieces – Healing Coins (England & France)
Touch Pieces are coins that have been touched by rulers, monarchs or other powerful beings who are believed to hold their authority directly from God. Touch Piece coins were extremely auspicious and are said to have demonstrated healing powers.
Actually, this practice dates back to the Ancient Roman Empire. The Roman Emperor Vespasian (69-79AD) is reported to have initiated ceremonies during which he would hand out coins to the sick. This ceremony became known as “The Touching”.
Centuries later, the Kings and Queens of England and France embraced this practice – holding regular touching ceremonies up through 1714. The fact that an angel appeared on some British coins from the time of Henry VIII onward further cemented the tradition of the healing coin from the hand of your monarch. The British tradition of Maundy Money may have derived from this overall custom, as it features the monarch gifting specific subjects with token gifts of silver coins.
Of course, it wasn’t just about royalty. Clergymen were also known to hand out or even sell healing coins during ceremonies which were said to bring healing powers to the believer. There are many contemporary accounts of people being cured by this method. In a convenient bit of rationale, those who remained ill were accused of not having enough faith.
7. The Gold Angel (France)
As we have just seen, coins with angels on them have been treasured as tokens of good luck, health, and fortune. If a King or Queen handed an angel coin to a subject, it would often become a family heirloom – being handed down through the generations.
The legend of the Lucky French Gold Angel, however, has an even more dramatic start. During the French Revolution, Augustine Dupré, was standing on the platform waiting in line to lose his head to the guillotine. In his pocket, Dupré carried a gold coin that he himself had engraved, a French Gold Angel. He believed that carrying the coin with him would protect him from evil and danger. Sure enough, faced with the dire prospect of the guillotine, the Angel delivered him!
Legend holds that moments before his execution, a huge thunder roared and lightning struck, scaring the executioner and delaying the planned execution. Before it could be rescheduled, Dupré was granted a pardon – and thus the Gold Angel saved his life.
Inspired by this tale, Emperor Napoleon Bonaparte also carried a Lucky Gold Angel—but legend reports that he lost his coin just the day before the Battle of Waterloo. We all know the outcome of that battle!
Dupré’s angel design was revived from 1871 to 1898 on 20 Franc and 50 France gold coins. The coin’s legend continued into the 20th century, with sea captains and fighter pilots in both World Wars believing the coin brought them luck and protection.
SPECIAL BONUS: Personal Lucky Charm Coins
The above list details some of the most popular and longstanding lucky coins from around the globe. But you may, in fact, find your own lucky coin(s) quite a bit closer to home.
Commonly, coins dated from your birth year or other significant milestone in your life are believed to be lucky. Also, if you are from an immigrant background, treasuring a coin from the country your parents or grandparents came from is often considered a way to ensure good luck, prosperity and fortune.
No matter what the source, look around you today and see if you can’t pocket a special coin to bring you luck, prosperity, and happiness!
Steve Wolff is an American numismatist, writer, and video producer who has spent over 20 years sharing the fascinating stories behind coins and the historical events and personalities that inspired and shaped them.
Coins and the Importance of Where to Look
by Andreas Kolle
Have you ever wondered why the head of the monarchs appear to look either to the left or the right – and if there is a system with it? Short answer, it’s both complicated and fun.
Long traditions for facing right
Faces on coins first appeared in the 6th century BC, but it was during the following century that profiles of gods and goddesses appeared frequently. The most famous is probably the Owl tetradrachm of Athens. The much-copied tetradrachm and stater of Alexander the Great also looked right. There were exceptions to this rule, for example the Corinth Pegasus stater, but the dominating coins looked right.
Roman emperors almost always looked to the right. Given the significance of these coins, this made right-facing coins dominant both in Rome and in many countries copying them. The outwards-looking solidus coins of the Byzantine Empire did not catch on, and right was the direction to look.
There might be an easy explanation: We write from left to right. This means that this is the “preferred” way of looking. We also know that the devil is associated with the left, and the word “sinister” comes from the Latin word for “left”.
The English Switch
Another interesting development is that queens like Elizabeth I of England and Christina of Sweden often looked to the left. And this might have been the reason for a typical English tradition.
Henry VII and Henry VIII both looked right and straight ahead in some cases. Mary I and Elizabeth I both looked left. James I faced both left and right depending on the coin. Charles I looked left, but Charles II looked both ways. Finally, his younger brother, James II, looked only to the left – and the monarchs that followed him have alternated between looking left and right, all the way down to our current monarch…
Of course, there is one interesting exception to the rule, and it is our old friend, Edward VIII. He was supposed to look to the right, but preferred the left side of his face, and insisted on looking the “wrong” way. The tradition from 1685 onwards did not seem to bother him. The coin was prepared, but no coins made it into circulation. When he abdicated, the Royal Mint pretended that his coin was made with him looking to the right. Therefore, the George VI coin was made with him looking to the right again to keep in tradition.
What could be more British than insisting that a coin never circulated was made with the opposite design to the one it had so that tradition was upheld?
The Emperor and the King
When it comes to portraits, Scandinavia did a bit of everything. Denmark insisted on always looking to the right, whereas Sweden from 1907 onwards always looked to the left. With all due respect to the Anglo-French enmity, this is the real long-standing feud in Europe. Norway, on their part, did exactly like Britain and switched sides.
France, however, is where things get very confusing. It seemed as they alternated every other turn, because Louis XIII and XIV looked to the right, and Louis XV and XVI predominately looked to the left. Then you have the cat among the pigeons: Napoleon. He decided to look to the right, probably to symbolize a new time in opposition to Louis XVI. When he was deposed and Louis XVIII took over, the new king was quick to look to the left again. This is hardly surprising. Louis XVIII was the brother of the deposed and executed Louis XVI. Making a break with Napoleon made sense. When he died, his brother Charles X took over, also looking to the left. When he was deposed in the 1830 revolution, the once-radical Louis Philippe was made king, and perhaps to make a stand against the two conservative kings who preceded him, he faced right.
And now we end up with the wisest fool in Christendom, Napoleon III. In 1851 he was crowned emperor. This made him the second emperor in traditional counting, however the Bonaparte family claimed that Napoleon Bonaparte’s son was emperor for a couple of weeks. This meant that either Napoleon I looked right, and an imaginary coin of Napoleon II would look to the left and Napoleon III should look to the right again or that all emperors, like in Ancient Rome, should look to the right.
Napoleon III looked to the left. Because of course he did.
This might have meant that he considered himself a continuation of the kings of France rather than an abomination with his own rules. It could have had another explanation. After all, Napoleon III was the man who Karl Marx had in mind when he coined the phrase “History repeats itself, first as a tragedy, then as a farce“. Napoleon III was in either case the last monarch of the French.
Andreas Kolle is a Norwegian historian cum laude and the resident historian for Samlerhuset Norway. A professional copywriter with 10 years of experience, Andreas also keeps the Samlerhuset blog active by covering a range of numismatic and historical topics. He has a contagious love for all things numismatic and historical and adheres to the QI adage that there is no such thing as an uninteresting item.
Spanish Gold – The currency of conquest
There are not many coins that can legitimately claim to have changed the world, but the Spanish escudo is one. Struck using the abundance of gold found in the New World, the escudo (which means “shield”) quickly became a trusted international trading coin, transforming the fortunes of Spain and delivering economic prosperity to Europe. By doing so, the iconic Spanish coin can be said to have financed the Renaissance and ignited the Industrial Revolution. The world would never be the same again.
At all costs, get gold!
When Spain agreed to finance Christopher Columbus’ dangerous voyage into unchartered waters, they could hardly have imagined what a sound investment this would prove to be. Columbus (1451–1506) mentions gold at least 65 times in the diary that he kept during his historic journey of discovery.
Upon his arrival in the Caribbean in 1492, the Italian explorer’s first question was apparently to ask where he could find it! When it became clear that the New World had gold in plentiful supply, Spain quickly dispatched more expeditions. In 1511, King Ferdinand of Spain instructed his conquistadors to “get gold, humanely if you can, but at all costs, get gold”.
When Hernán Cortés (1485–1547) arrived in Mexico, he was amazed to find that the Aztecs had so much gold that they used it to decorate childrens’ toys, walls, ornaments and plates. They prized brightly coloured feathers, cacao beans and cloth far above the yellow metal, and Cortés excitedly reported that half a kilo of gold could be purchased for just 250 cacao beans!
A document to history
In 1537 the Holy Roman Emperor, King Charles I of Spain (r. 1516–58), constructed the first mint in the New World at Mexico City and ordered them to strike escudos with gold mined from the region. The new coin was inspired by the Venetian Ducat, a popular trading coin due to its identifiable design, constant weight and consistent purity.
As Spain grew to become one of the world’s first major superpowers, the importance of the escudo as the chief gold coin of Spanish-America grew with it. Escudos were produced throughout the New World, in Argentina, Bolivia, Chile, Colombia, Costa Rica, Ecuador and Peru.
The Spanish escudo remained the most widely used currency in the Americas for over three centuries. Its popularity only waned after 1857 when it ceased to be accepted as legal tender in the United States. In 1864 Spain relaunched the escudo in silver as the official currency of Spain, but just four years later, they joined the Latin Monetary Union and introduced the Peseta. This brought over three hundred years of escudo production to an end.
Reborn as a commemorative
In 2018, 150 years after the last circulating escudo was issued, the Royal Mint of Spain struck their most iconic gold coin again, this time as a 24-carat gold commemorative. All four original escudo denominations were struck in their original sizes, each with a reworked design that charts the unique history of this remarkable coin.
The Spanish King of England
Gold from the New World began to arrive in Spain after 1503, and it is estimated that twenty-five tons went to the Seville Mint during the 16th Century alone. Built during the reign of King Philip II (r. 1556–98), the first Escudos struck by the Mint bore his shield, and this design appears on the 2018 Four Escudos.
Under King Philip II’s reign, Spain enjoyed its “Golden Age”, with an empire upon which it was said that the sun never set. For four years between 1554 and 1558, the King also ruled England jointly with his second wife, the Catholic Queen Mary I. Theirs was clearly a political union, as they married only two days after their first meeting!
When Mary I died in 1558 without producing an heir, Philip automatically lost his rights to the English throne, and he was to spend the rest of his life trying to get it back! He immediately proposed marriage to his dead wife’s Protestant sister, the new Queen Elizabeth I. When she rebuffed his advances, he supported her cousin Mary Queen of Scots in a Catholic plot to seize the English throne. When the plot was exposed, he sent an Armada to invade England. But the Spanish fleet was routed at sea before they could land, thereby sinking his dream of ever possessing England again.
The 2018 Four Escudo depicts the Royal Coat of Arms of King Philip II and the official crowned “M” privy mark of the Royal Mint of Spain together with the new face value (200 EURO). The legend reads “PHILIPPUS.DEI GRATIA.” (Philip by the Grace of God).
The obverse depicts the Cross of Jerusalem within a quatrefoil and a leaf in each corner. This symbolised the King’s official determination to carry the Christian message to the four corners of the world. Of course, a cynic might argue that this noble intention was also a useful pretext to justify the conquest and plunder of foreign lands full of exploitable natural resources. The legend “HISPANIARUMN.REX” means “King of Spain”.
Pirate Treasure!
The Two Escudo was known as a Doubloon (Double), and they were minted throughout the Americas as well as in Spain. Until 1732, all coins produced in the New World were crudely fashioned “cobs” struck on irregularly shaped pieces of gold. Most were shipped across the Atlantic to be melted down, and the metal used to create Escudos of a much higher standard.
In 1586, new coining machines were installed at the Segovia Mint in Spain to strike escudos with the gold received from the New World. However, the Spanish galleons transporting this vast wealth through the Caribbean and across the ocean were always vulnerable to attack from pirates seeking to relieve them of their precious cargo. No other coin in the world evokes stronger images of pirate ships and treasure maps than the Spanish Doubloon.
The 2018 Spanish Doubloon features an original design that was struck at the Segovia Mint in 1607 during the reign of King Philip III (r. 1598–1621). Like his father, Philip III’s Doubloon also depicts the distinctive Cross of Jerusalem as a symbol of his “official” intention to spread the faith.
The reverse presents his Royal Coat of Arms together with a distinctive mintmark to show that the coin was initially struck at the Segovia Mint. Built by the Romans in the First Century to carry water to the town, the impressive Segovia aqueduct was an appropriate choice for a mintmark, as the Mint used giant water wheels to power its state of the art coin press. The legend reads “PHILIPPUS.III.D.G.” (Philip III by the Grace of God).
The Golden Fleece
The largest Spanish gold coin struck in the New World was the Eight Escudo. Often referred to as the “Onza” (ounce), the coin was first produced in 1610 and became the standard for large monetary transactions in the New World.
The 2018 Eight Escudo commemorative coin uses a design that was struck at the Mint of Madrid in 1719 during the reign of Spain’s longest-reigning monarch King Philip V (r. 1700–24, 1724–46). There were several public and private mints in Spain until Philip V decided to make striking coinage a state monopoly in 1718.
The official intention of the Spanish monarchs to spread their religious faith around the world had not diminished after more than a century. The obverse still bears the distinctive Cross of Jerusalem with four leaves. The reverse depicts the King’s Royal Coat of Arms and the legend “PHILIPPUS.V.DEI.GRA” (Philip V by the Grace of God).
An interesting feature of the shield is the inclusion of the mythical Golden Fleece on a chain. Philip V was the first head of the Spanish branch of the Order of the Golden Fleece, a Roman Catholic order of chivalry founded in Bruges in 1430. Since its establishment, the order has only had 1,200 members and is often referred to as the most prestigious and exclusive order of chivalry in the world.
The Golden Fleece was a highly appropriate image to feature on the largest gold coin of the New World. In Greek mythology, Jason and his crew of Argonauts travelled the seas to unexplored lands, searching for the fabled golden treasure. Now, centuries later, the Spanish were reaping the spoils of their own explorations, and the magnificent Eight Escudo was the proof that, like Jason, they had also found a golden treasure that exceeded their wildest expectations.
Abundance
The amount of gold and silver produced in the New World was phenomenal. An estimated 70 million gold coins and over 2 billion silver coins were struck during the 17th and 18th centuries. The 2018 One Escudo pays tribute to this abundance of gold by depicting the design struck at the Popayán Mint in Colombia in 1758 during the reign of King Fernando VI (r. 1746-–59).
By 1758, all of the mints in the New World were striking coinage of a very high standard. The first milled coins struck in the Americas were produced in Mexico in 1732, and the technology quickly spread to the other mints. The last rough “cob” coins were produced in 1749.
Under monetary reforms initiated by his father, King Philip V, a portrait of the monarch was introduced onto the obverse of gold coins struck after 1728, replacing the Cross of Jerusalem. As a result, the 2018 coin has a portrait of Ferdinand VI on its obverse, with the legend “FERDND.VI.D.G.HISPAN.ET IND.REX.” (Ferdinand VI by the Grace of God, King of the Spains and the Indies).
The reverse presents the King’s lesser Royal Coat of Arms and the unique mint mark of the Popayán Mint (PN) to show where the coin was initially struck. Popayán was a strategically important location as a transfer point for gold and other riches going to Spain, and it continued to produce gold escudos and silver reales until 1819. Completing the reverse is the legend “NOMINA. MAGNA. SEQUOR” (I follow the Greatest Ones).
The first coins to bear the King’s image with his long, flowing hair became known, somewhat unkindly, as peluconas, because peluca is the Spanish word for a wig!
The Currency of Conquest
The Spanish Escudo provided the wealth that enabled the transformation of European society. But it came at a high cost. The Spanish conquistadors forced many indigenous communities into dangerous mines to extract the precious metal as quickly as possible under the most atrocious conditions. In addition, they confiscated their gold ornaments, jewellery and decorations, which were almost always melted down and struck into coins or ingots before being sent across the sea to the mother country. Those fortunate enough to examine the craftsmanship of the Aztec goldsmiths reported that they were more skilled than their European counterparts. The loss of their cultural and artistic treasures from the historical record is incalculable. It will forever be a matter of great regret that the Spanish Kings preferred to receive their gold from the New World in coins and ingots.
However, without the influx of gold from the New World, it is hard to see how the intellectual, cultural and artistic Renaissance that swept through Europe after the 15th Century could have been financed. Likewise, the Industrial Revolution that began in Britain in the 18th Century required a prosperous economy to sustain it. The reliable gold coin helped to facilitate this by lifting Europe out of the grinding poverty in which it had languished for centuries.
The Spanish Escudo, with its stable weight, trusted purity, and distinctive design, can be said to have paved the way for the international trading coins, such as the Dutch Ducat (from 1586), the modern British Sovereign (from 1817) and the American Double Eagle (from 1907) that came after it.
The First & Most Valuable Polish Banknote (1794)
by Marcin Brzeziński
1794 was an exceptional year in Polish history. It saw the outbreak of the first Polish uprising against Russia, led by Tadeusz Kościuszko, who would become the national hero of both Poland and the United States of America. It was also the year when the citizens first started to use banknotes as a form of payment. Facing a shortage of gold and silver, the insurgent administration made the decision to turn to printed currency. Their banknotes did not gain much popularity, however. Made of an impermanent material, they were easy to damage, and only a small number has survived. Thus, they are now sold at auctions at astronomical prices.
From the Constitution to the Treason at Targowica
On 3 May 1791 Poland adopted a modern constitution, intended to reorganise the country and bring about far-reaching reforms. In reality, however, the act triggered a sequence of events that ultimately led to the discontinuation of the Polish State in 1795, when its territory was divided between Russia, Prussia and Austria. After the constitution was signed, a group of citizens opposing the proposed changes gathered at Targowica in present-day Ukraine, and formed a confederation which asked the Empress of Russia Catherine II to intervene. Russian troops entered Polish territory in 1792. Two years later, the first Polish uprising against the occupier began.
Monetary Reform During the Insurgency
The 1794 uprising led by Tadeusz Kościuszko was the last attempt at defending Poland’s independence. The insurgent authorities proceeded, for instance, to reorganise the country’s financial system. King Stanisław August Poniatowski’s right to issue money was revoked. The monarch initially objected, but ultimately supported the Treasury Committee, offering his own reserves of silver and hard currency. Bullion for minting coins was also acquired through the confiscation of liturgical paraphernalia from temples of all religions.
The Supreme National Council, which was the central civil authority during the uprising, changed the official rate of mintage. One Cologne mark (233.812 g) was to be used to produce a total value of 84 ½ zloty in thalers, half-thalers and zloty. The minting of half-thalers and silver double-groschen was discontinued; the production of szóstaki (six-groschen coins) recommenced.
A numismatic curio from the year 1794 were the so-called półstanisladors (half-stanisladors; from the French ‘stanislaus d’or’) and stanisladors, minted of .833 fine gold. Their value was 1.5 and 3 ducats respectively. The stanislador coin weighed ca. 12.4 g; ca. 5200 such coins were issued. The mass of the półstanislador amounted to ca. 6.2 g; the total issue was ca. 8100.
Paper Instead of Coins
The banknotes that appeared in 1794 were an entirely new element in the Polish monetary system. They functioned as treasury and utility notes, substituting coins, which could not be minted at the time. The denominations of the first notes were 5, 10, 25, 50, 100, 500 and 1000 zloty, each printed on differently coloured paper. In practice, they were state-issued promissory notes. The caption put on the notes proclaimed that the National Treasury was obliged to pay each holder of the note the amount specified thereon, in coin, at a future date. National assets marked for sale were to serve as guarantee of the payment.
The face of the banknotes/treasury notes featured the text of the resolution passed by the Supreme National Assembly, and above it, the coats of arms of the Polish Republic – the Eagle and the Chase – as well as symbols of the French Revolution. The latter elements included a Phrygian cap, a section of prison walls and the chains of absolutism broken by the people. Interestingly, the signatures at the bottom of the notes and the serial numbers were written in by hand. The back of the note was blank. The highest denominations (including the 500 zloty notes) were issued in very small numbers, estimated at 500 to 1000 specimens. As for the 5 zloty notes, some 60,000 were produced.
Another novelty introduced during the insurrection were utility notes (paper means of exchange substituting coin). They had the form of small sheets of paper, with coats of arms, denomination and the name of the issuer depicted on the face. The back featured a facsimile of the signature of Filip Malinowski, one of the commissioners of the Directorate for Treasury Notes. The denominations of the utility notes were: 5 and 10 groschen, 1 zloty and 4 zloty.
People’s Mistrust and Subsequent Auction Records
The banknotes did not gain much popularity among the population, for a number of reasons. The promise of a future payment in hard coin, to be made after the sale of public property, had no guarantee. Insurgency authorities allowed citizens to pay only up to 50% of their taxes in treasury notes; the rest had to be handed in coin. Kościuszko’s armies, on the other hand, were permitted to pay for everything using paper currency. Consequently, people regarded the notes with a considerable dose of mistrust. Their circulation remained very limited. Due to the impermanent nature of the paper of which they were made, only a few specimens of the notes have survived. The extant ones are a collector’s item. .
The hitherto highest bid on a Polish banknote was made in February 2019, at a numismatic auction in Wrocław, where a 500 zloty note from 1794 was bought for 220,000 zloty (ca. 60,000 dollars).
Marcin Brzezinski is a graduate of the Faculty of Journalism and Political Science at the University of Warsaw. He is interested in the history of Polish aristocracy and old photography. Author and co-author of several books, including: “Adam and Jadwiga Czartoryski. Photographs and Memories” (2013), “Stanisław Kazimierz Kossakowski. I love photography” (2019). Co-creator of historical exhibitions, including: “For here we do not have an enduring city – a story about palaces on the Royal Route in Warsaw” (2010). He has been cooperating with the National Treasury (Skarbnica Narodowa) for several years. The area of his numismatic interest is primarily historical Polish coins.