,+VICEROYALTY+OF+PERU,+Ferdinand+VI,+8+Escudos,+1751jm,+Lima.jpg) |
| Jamaica, Authority of November 1758, Doubloon (valued at Five Pounds), VICEROYALTY OF PERU, Ferdinand VI, 8 Escudos, 1751jm, Lima Peru Mint, both sides centrally countermarked with floriate gr raised within a circular indent. Tiny distinguishing graze between 5 and 1 of date and some minor surface marks, otherwise coin and countermarks very fine, very rare; about 10 specimens recorded, of which this is one of the finest £25,000-30,000 Provenance: R.A. Brandon Collection. |
In 1758 the Jamaica assembly passed an Act where it was determined that a certain amount of the new Spanish milled money should be made legal tender and posses a fixed value. The amount of 100,000 was proposed, and in order to distinguish the coins so valued, they were stamped or countermarked with a special design. This design took the form of the initial GR floriate in relief within a circular indent in the centre of the obverse and reverse. This represents the title of the reigning sovereign Georgius Rex (George II, 1727-1760)
Out of the 100,000 pounds to be stamped, only 12,000 pounds was countermarked before the project was abandoned in 1759. When the British Government received copies of the local Act and realized what the Jamaica authorities were trying to do the Act was repealed, and the Governor of Jamaica was censured for exceeding his powers in approving the passing of the Act. The Privy Councils (Colonial) comments to the Act were:
.....We apprehend further that putting a stamp upon money to ascertain its value; to make it legal tender, and to impose penalties of High Treason on those who shall counterfeit the said stamp, is in all intent and purposes setting up a mint, which we conceive to be no less an unsurpation of your Majesty's Prerogative..... 20th May 1760
In 1839, an Act was passed which stated that as of 31 December 1840, the currency of Britain should be that of Jamaica, that is,the lower denomination copper coins, farthing, half penny, penny ha'penny and penny as well as the higher denomination silver coins, three pence, six pence, shilling, florin half crown and crown. While the Spanish coins were demonetized, an exception was made in the case of the Spanish doubloon (Both counter - marked and unmarked), which remained legal tender at a rate of 3.4.0, until it was demonetized on 01 April 1901.
This was the only official action taken by Jamaica for providing a distinctive local coinage/money until 1869 when the first Jamaican coins came into circulation.
In 1773 an Act was passed in Jamaica..."A weight rating system for gold coins". This was due to a problem with light weight Spanish gold coins in circulation. This Act introduced for the first time a specific weight rating and imposed a 3d penalty per grain on gold coins deficient in weight from the standard which for the doubloon would be 17 dwt., 8 gr. or 416 troy grains. This would have been a prime example of private mutilation which would have to be carried out by someone of high standing such as a leading merchant or plantation owner to bring these light coins to an acceptable weight. This was done by inserting a plug of gold into the coin, the plug then being stamped with an alligator design (in this case the alligator which represented Jamaica) and the persons initials. This stamping guaranteed the correctness in weight of the coin and obviated the necessity for the coin to be reweighed at each transaction.
In 2013, A member of the Jamaica Colonial Heritage Society on Facebook posted the following coin which she said was in her family's collection for years. I had never quite seen anything like this even though it looked very much like an English coin. Obverse shows "DOUBLOON" in raised lettering and a floriate design at the outer edge.
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| Doubloon Counterweight Cir 1850, Private Collection |
The reverse show DW. GR with 17.8 below again in raised lettering and a similar floriate design extending out to the edge of the coin. In my opinion this coin is a counterweight made specifically to measure the weight of a Doubloon at 17 dwt., 8 gr. or 416 troy grains.
Historic Jamaica
