currency and taxation

What were the three elements of the stable national currency

Silver pounds, shillings and pence

What was the pence decorated with

The kings head

What was the pence symbolic of and worth

Powerful symbol of the royal authority and of relatively high value

How much was a silver penny equivalent to

One day’s hard labour

How much did a sheep cost

5 silver pennies

How much did an ox cost

30 silver pennies

How many pennies were in circulation in 1066

Nine million

Where were dies produced

London

What were silver pennies of standard design cast by

Royally licensed moneyers in 60 mints spread across the country

What happened to foreign coins

We’re forbidden

Would be handed in to the mints and melted down to be recoined

How often would coins in circulation no longer be seen as legal tender

Every five years

What percentage did people have to pay of their old coins

15

What did paying 15% of old coins maintain

The integrity of the currency and made a profit for the king

How was the king able to raise large sums of money

Through a geld administered by the shires and hundreds

How often was the geld collected in shires and hundreds

Annually

What did the geld amount to for per hide

2 shillings