Ireland 1723 Half Penny Very Fine (VF20) $

Ireland 1723 Half Penny Very Fine (VF-20)

In 1722, English hardware manufacturer and ironmaster William Wood purchased the royal patent from the Duchess of Kendal for 10,000 pounds to produce halfpenny coins for use in Ireland. Wood was authorized to produce up to 360 tons of half penny and farthings for Ireland at 3 pence to the pound over 14 years for an annual fee of 800 pounds paid to King George I. Wood's coinage proved to be extremely unpopular in Ireland, and created backlash from the public especially from the Dean of St. Patrick's Cathedral, Jonathon Swift, who criticized the coins in his Drapier's Letters due to the secretive way the patent had been given to a private citizen in England, rather than to the Irish authorities, and also claimed that Ireland would be defrauded of much of the silver and gold in circulation because wood's coins were inferior quality and could be replicated easily. The controversy did not subside even after Sir Isaac Newton, who at the time was Master of the Mint within the Royal Mint in England, conducted an analysis that showed the copper in the coins he analyzed was of the same goodness and value as that which was coined in England. As a result of the continued backlash, Wood's halfpennies and farthings were recalled, and compensation was granted to Wood for eight years. 

Obverse: George I Head to Right 
Reverse: Harpist face to the left. Harp on the right 

Specifications:
King: George I 
Composition: Copper 
Weight: 7g 
Diameter: 27.5 mm 
Edge: Plain 
Die Axis: ↑↓