The Sizewell C coin hoard: History in the minting
A coin hoard recovered from the Sizewell C (SZC) development area comprises 321 silver coins issued between 1036 and 1044. The hoard was found at the junction of two early medieval field boundary ditches, a location which hints at deliberate concealment. The coins were carefully placed inside a textile object, possibly a purse, and then wrapped tightly in lead sheeting. This fantastic find gives us great insight into the English monetary and political landscapes of the 11th century.
A modest fortune: Estimating the worth of the hoard in 11th century
With a contemporary value of 320 pence (319 full pennies plus two cut halfpence), for most people at the time it would have represented a significant amount of money. Despite this, the hoard is equally not of an enormous size indicative of extreme wealth. While it clearly represents the savings pot of someone with means, this individual was almost certainly not of national importance or super-elite status.
It is more likely to have been owned by an person of local clout, perhaps a wealthy farmer. Although it is hard to equate this sum of money with modern-day purchasing power, evidence from law codes of the 10th and 11th centuries suggest that cattle had a value of approximately 20p each. Using this metric, we might estimate that it could have purchased approximately 16 cows — a small herd!
Image: photo of coins during micro-excavation
Dating the hoard: Coins from Harold I to Edward the Confessor
The coins within the hoard were issued during the reigns of Harold I ‘Harefoot’ (1036-40), Harthacnut (1040-2) and Edward the Confessor (1042-66). The vast majority of the coins present within the hoard date to Harold I’s reign, with noticeably fewer issued by Harthacnut and just 24 by Edward the Confessor. The latest coins within the hoard, struck at the very start of Edward’s reign, enable us to date quite accurately when the hoard was buried. These are all of the so-called ‘PACX type’, struck between summer of 1042 and late 1044.
Image: Edward the Confesssor, ‘PACX’ type penny
Coin types and monetary practices
By contrast with the modern day, coins in the 11th century were not issued to one set design for the entirety of a reign. Instead, different designs or ‘types’ were introduced every few years, the old coins being recalled for recycling. Four different types are present in our hoard: the ‘Jewel Cross’ and ‘Fleur-de-Lys’ coinages of Harold I; the ‘Arm-and-Sceptre’ issue of Harthacnut and the previously-mentioned ‘PACX’ type struck at the start of Edward the Confessor’s reign.
But why were coins re-issued so frequently? There were several reasons for this. First, relatively frequent changes of design provided a level of protection against forgery. Indeed, that there are very few contemporary forgeries of late Anglo-Saxon English coins perhaps evidences how effective this strategy was.
Secondly, it ensured a regular supply of fresh coin into the realm.
Thirdly, it seems to have acted as a method of taxation. It appears to be the case that people were supposed to (theoretically, at least) pay official taxes and rents in the latest type, thus incentivising them to change at least some of their coin. Much like a modern bureau-de-change, where you are charged a commission for turning your pounds into euros or dollars, it is thought that an additional tax was levied when people brought in their money to be changed. Such a practice directly benefitted both the monarch and the individuals responsible for administrating the issuing of coinage — moneyers.
Moneyers and ‘making money’
Every coin in the hoard bears on its reverse face (‘tails’) the name of the moneyer responsible for its striking and the mint it was struck at. This acted as a method of quality control, allowing products to be effectively traced back to their point of origin.
The moneyers named on coins were almost certainly not the individuals physically producing the coins by hand, but they were directly engaged with the wider business of ‘making money’. Their responsibilities probably related most strongly to setting up workshops, sourcing materials, employing a workforce and generally overseeing the entire process.
Given the financial benefits, it is likely that many moneyers saw the production of coin as a business venture — though desire to acquire social prestige probably also was a motivator.
Image: coins on a medieval manuscript. Courtesy of the British Library, f. 142r
A network of early medieval English mints
In total contrast to the centralised production of the Royal Mint today, moneyers worked out of numerous locations spread across the country, generally representing major settlements or commercial centres.
Over 30 mints are represented within the hoard, with approximately 40% of the coins struck in London. Other notable mints include those local to East Anglia, such as Thetford, Norwich and Ipswich. As expected, given the hoard’s burial location, many coins originate from mints located more widely across eastern England. These include Bedford, Huntingdon and Cambridge, alongside more northerly mints such as Lincoln or Stamford. A few rare coins also come from mints in the south-west, such as Axbridge and Langport in Somerset.
Image: coin minted at Langport
Why was the hoard buried?
Although there are a number of reasons why the hoard might have been buried, the most likely relates to perceived or real social instability following the accession of Edward the Confessor to the English throne.
His accession in June of 1042 marked the return of the House of Wessex as England’s ruling dynasty, following over 25 years of control by first the Danish king Cnut and then his sons — Harold and Harthacnut. Some people may have been concerned with the changed political situation, perhaps fearing reprisals or a breakdown in law and order.
We know that Edward exiled and/or confiscated the property of several high status individuals during his early reign, so perhaps people lower down the social ladder were worried that this might happen to them. There are now several coin hoards known from the period 1042-44, buried across the country. This suggests that people were evidently concerned by the political situation on a widespread basis and took decisive action, concealing their wealth at around the same time.
Images: conservator, Pieta, carefully micro-excavating the coin hoard; coins inside the lead sheet casing; textile fabric between the coins and lead casing; conservator carefully opening the lead casing