Country: United States - Pre-Federal
Type: Standard circulation coin
Year: 1722-1723 (1723)
Value: 2 Pence (1/120)
Currency: Pound sterling (1158-1970)
Weight: 14.6 g
Diameter: 30 mm
Thickness: 2.8 mm
Orientation: Coin alignment ↑↓
References: W# 1278
Head of King George 1st of England.
Translation: George I by the Grace of God, King of Great Britain, France and Ireland.
Crown on a rose
American Rose 1723
Useful and Pleasant.
These are coins that were issued as early coinage to be used in the American colonies, but the colonists did not like them and refused to use them.
William Wood (1671–1730) was a hardware manufacturer, ironmaster, and mintmaster, notorious for receiving a contract to strike an issue of Irish coinage from 1722 to 1724. He also struck the 'Rosa Americana' coins of British America during the same period. Wood's coinage was extremely unpopular in Ireland, occasioning controversy as to its constitutionality and economic sense, notably in Jonathan Swift's Drapier's Letters. The coinage was recalled and exported to the colonies of British America. Subsequently, Wood developed a novel but ineffective means of producing iron, which he exploited as part of a fraudulent investment scheme.