Featured today on our site is a 1689 January “Gunmoney” Shilling from Ireland, Ref: Spink 6581 M. The coin is in choice VF / almost EF condition with only some minor pitting, which is typically seen with these issues.
Gun money was an issue of coins made by the forces of James II during the Williamite War in Ireland between 1689 and 1691. They were minted in base metal (copper, brass or pewter), and were intended to be redeemed for silver coins following a victory by James II and consequently bore the date in months to allow a gradual replacement. As James lost the war, that replacement never took place. After the Battle of the Boyne in 1690, William III seized the Dublin Mint, and the coins were reduced to their intrinsic value; in 1691 they were demonetized.
The name "gun money" stems from the idea that they were minted from melted down guns. However, many other scrap metal objects, such as church bells, were also used. There were two issues. The first "large" issue consisted of sixpences, shillings and half crowns (2½ shillings). The second, "small" issue consisted of shillings, halfcrowns and crowns (5 shillings). Some of the second issue were overstruck on large issue pieces, with shillings struck over sixpences, half crowns on shillings and crowns on half crowns.
All of the denominations, with the exception of the crown, bear the month as well as the year of issue. This was so that after the war (in the event of James's victory), they could be redeemed in stages over time. Specimen strikings were produced in silver and or gold for most months, all of which are extremely rare.
