Isle of Man currencies [επιλυμένο]

Pound (1709-1839)

14 Pence = 1 Shilling • 20 Shillings = 1 Pound

(The fractions in the denominations are correct.)

Sources:

SCWC 1801 8th edition, page 810 (Crown is also mentioned, but I see no Crown denominated coins produced)

Coins of the Isle of Man, 3rd edition, page 15

Pound (1839-1971)

4 Farthings = 1 Penny • 12 Pence = 1 Shilling • 5 Shillings = 1 Crown • 20 Shillings = 1 Pound

(Same as the UK)

Source:

Coins of the Isle of Man, 3rd edition, page 15

(Edit: removed c in Shilling.)

There was 5 Shillings currency tokens produced for the Isle of Man - which are very rare, along with the ½ Crown ones.

Aidan.

BCNumismatics

There was 5 Shillings currency tokens produced for the Isle of Man - which are very rare, along with the ½ Crown ones.

 

Aidan.

If there are coins with an explicit denomination of “crown” then crown should be listed in the currency list. But a 5 Shilling coin has an obvious denomination is value is five times the value of a shilling. There's no need to say:

4 Pence = 1 Shilling • 20 Shillings = 1 Pound • 5 Shillings = 5 Shillings

I see plenty of UK coins that say “crown” (N#8473) so Crown should be in the currency definition to explain the denomination. But I'm not aware of anything like that for IoM until 1945 (N#357104 ).

But I would like to learn: What pre-1839 IoM numismatic items explicitly have values defined in terms of a crown?

Quote: 14 Pence = 1 Schilling 

Are both those correct? 

Maybe though in those days there were 14 not 12 Pence. 

But the Schilling was an Austrian currency, should it be Shilling? 

Just asking. 

ZacUK

Quote: 14 Pence = 1 Schilling 

Are both those correct? 

Maybe though in those days there were 14 not 12 Pence. 

I think it should be Shilling.

In Guernsey it was 13 Pence = 1 Shilling.

I believe it was 13 pence = 1 shilling in Jersey also, until it was changed to 12 pence = 1 shilling.

In addition to the Pound in the channel Islands the French Livre Tournois system was the currency standard.

Up to 1834, the French Livre was used as the unit of currency in Jersey and Guernsey [McCammon, 1984]. Although France had substituted the Franc in place of the Livre as its currency unit in 1795, the Livre continued to be used in the Channel Islands. In Jersey 1 sou was equal to a Jersey halfpence. This further worked out as 2 sous = 1d; 26 sous = 13d = 1 Shilling.

In 1834, in Jersey an exchange rate was fixed at 26 French Livres equal to one Sovereign, establishing sterling as the standard in Jersey. Thus, 26 Livres equaled 20 Shillings. This resulted in a rate of 13 Jersey pence to 1 Shilling British.

In 1877 Jersey revalued its currency to parity with sterling when the 1/13 th of a Shilling coin became 1/12 th of a Shilling. [McCammon, 1984, p185].
The Guernsey Pound was fixed at par with sterling in 1921.

McCammon, A.L.T. (1984).‘Currencies of the Anglo-Norman Isles’. Spink & Son Ltd

 Thanks :) 

Krause 1801 8th edition page 810:

Coins of the Isle of Man, 3rd edition, page 15:

Page 8:

Yes, Jersey was 13. Isle of Man was 14.

And I'm not the first on this site to believe that ratio. From N#37092 :

From N#17884 :

Whoever put the coin value fractions assumed 14 pence to a shilling.

Yes, Shilling is correct. I used both spellings in the original post. I'll fix it.

 Thanks  :) 

There is more!

In Tudor times, there was 14 Isle of Man pence to the shilling, which appears to have been related to the actual weight of copper in the coins.

I am away from my books currently, but I was able to find this:

http://www.isle-of-man.com/manxnotebook/history/14pence.htm

A bit more research is needed to fix the exact date when 14 pence was replaced by 12 pence to the shilling on Isle of Man.

Edit: Corrected typo of 13 pence to 12 pence.

It appears from this

http://www.isle-of-man.com/manxnotebook/fulltext/hist1900/ch32_2.htm#415

that from 1692 a rate of 14 pence = 1 shilling was introduced by an Act of Tynwald on the Isle of Man.

From 1709, 14 pence = 1 shilling equivalence was introduced as a government coinage, and made legal tender.

The link above sets 1839 as the transition from a 14-pence shilling to a 12-pence shilling, which agrees with other sources.

Prior to 1692, the Isle of Man coinage was not properly regulated. 
Ireland and the Channel Islands only had 13-pence shillings on occasion which were all migrated to 12-pence shillings at various times as those islands linked with Sterling.

Completely agree with this description for the IOM currency. Whoever set up the currencies clearly knew to split them, just the explanation was missing (or got cut).

As an aside, Guernsey had 12 pence = 1 shilling, 21 shillings = 1 pound between 1850 and 1921 as it tried to effect a link between sterling and the French franc. It worked because the Guernsey penny (8 doubles) was worth 10 centimes. That made 21 shillings equal to 25.20 francs, just 2 centimes less than the British pound according to the gold standard.

As IOM referee I should write something :) 

I voted for this change already few days ago but had no time to check all and write something.

Until 1840 (last issue from 1813) 1 shilling = 14 Pence,  from new coins with Victoria it changed value to 1 shilling = 12 Pence. 

I'm not sure if the George III coins in early 1840 were changed to 12 or still 14 Pence for shilling. After the September 1840, there were no more legal tender anyway (all IOM coins were demonetised).

Photos from Southall “Coins of Isle of Man” 3rd edition 2020, page 15:

We can found more info about this change from 14 to 12 Pence per shilling in Mackay “Isle of Man coins and tokens”, 2nd edition 1978, p.24-25:

The IOM coins with Victoria (12p = 1 shilling) were legal tender only between 10 Apr. 1839 and 21 Sept. 1840, then only British coins were legal tender on the IOM (also older IOM coins were demonetised).

Manx coins with Victoria dated 1841, 1859, 1860 and 1864 are mules (British obverse which is similar like Manx and the old Manx reverse from 1839).

So, to summarize, I guss this should be described like bjherbison proposed in first post (I would add also 1 Sovereign = 1 Pound to the Pound (1839-1971) in addition as we have gold sovereigns from 1965).

Any of the Admins can add info from first post in this tread to the currency description?

The post-1839 Manx coins under Queen Victoria were all struck in Proof only.

The 1839 coins are from the 12 Pence = 1 Shilling currency.

The 1965 Sovereign coins are non-circulation medal-coins commemorating 200 Years of the Revestment Act of 1765.

The 1970 1 Crown is the last Manx pre-decimal coin - 1 Crown = 5 Shillings.

Aidan.

Done thanks