Edward I, Farthing VG

The farthing marked the start of a revolutionary coinage reform by Edward I. Until this time, the penny was the smallest denomination. Low value transactions could be conducted using pennies cut into halves or quarters. The act of cutting pennies into quarters or fourths was how the word Farthing or “fourthing” came about. These silver farthings were introduced by Edward I during the recoinage of 1279. They brought about the end of the practice of cutting coins into halves and quarters. The old coinage and the use of pennies cut into farthings remained legal tender until they were demonitised in August 1280. These coins were the smallest silver coins of the early medieval period and were well circulated and are now over 700 years old, and they are much scarcer than the Pennies.