King’s Lynn Farthing, 1668: A Token of Resilience in a Time of Need
When the copper runs out, local traders find a creative solution.
In the specialist world of the study of money objects (numismatics), even the smallest artefact can open windows to the past, revealing stories of resilience, innovation, and community spirit. One such treasure is the King’s Lynn Farthing, a British token dated 1668. This humble coin from the mid-17th century offers a fascinating glimpse into how local economies adapted during challenging times.
What Is the King’s Lynn Farthing?
The King’s Lynn Farthing is a copper token valued at one-quarter of a penny. On one side (the obverse), it features three crosses emerging from dragon heads (see Margaret and the Dragons of Lynn) surrounded by an ornate border. The other side (the reverse) is inscribed with “KINGSLY FARTHING” and the date “1668,” accented by small rose motifs above and below.
This token, like others from the era, wasn’t an official coin. Instead, it was privately minted during a period known as the “Great Copper Shortage” (1648–1672). This shortage arose because the Royal Mint prioritized producing silver and gold coins, leaving a gap in small denomination currency essential for everyday transactions. Local merchants and towns stepped in to fill the void, issuing tokens to keep commerce flowing.
Why Were Traders’ Tokens Necessary?
The mid-17th century was a turbulent time for Britain. The English Civil War (1642–1651), followed by the Commonwealth under Cromwell and the Restoration of Charles II, created significant economic strain. The Royal Mint’s limited output of copper coins left businesses and communities struggling to manage daily transactions.
Trader’s tokens, such as the King’s Lynn Farthing, emerged as a grassroots solution to this crisis. These tokens:
- Facilitated Local Trade: They provided small change for purchases like bread or ale.
- Advertised Local Businesses: The names and locations inscribed on tokens promoted the issuing merchants.
- Strengthened Local Economies: Tokens kept commerce localized, as they were only accepted in the area where the issuer was known and trusted. Some tokens even specified the area of acceptance, such as “Good in Woodstock” or “Current in Maidstone”.
The Historical Context of the King’s Lynn Farthing
The King’s Lynn Farthing dates to 1668, a few years before King Charles II prohibited private tokens in 1672. By this time, the Royal Mint resumed regular copper coin production, rendering the tokens obsolete. Many were melted down, making surviving examples, like the King’s Lynn Farthing, rare and valuable historical objects. Its production reflects the ingenuity of the time. Communities devised practical solutions to bridge economic gaps, demonstrating adaptability in the face of national challenges.
© James Rye 2024
See also: The Sinner and The Dragon
Book a Walk with a Trained and Qualified King’s Lynn Guide Through Historic Lynn.
Further Reading
- Cribb, J. (1990), The English Trader’s Token Coinage of the 17th Century, British Numismatic Journal, 60, 46–64
- Oman, C. (1908), English Tokens and Jettons of the Seventeenth Century, British Numismatic Journal, 5, 205–255
- Sargent, T. J., & Velde, F. R. (2002), The Big Problem of Small Change, Princeton University Press
- Spufford, P. (1963), The Circulation of English Trader’s Tokens in the Seventeenth Century, The Economic History Review, 15(3), 466–476