I agree more videos on Hostory of coins. I also love the subject and is one of my favorite subjects. I love know the hostot of older coins. It's just simply fascinating!
Great video, There are at least 3 values now, the FACE value, the metal value, AND the collectible value. That Leopard for instance is worth ONE Leopard, and the value of the Gold metal, which is higher, and the value of such a rare coin, which is much , much more!
You would think that modern money makers would have learned from the great debasement. Instead they water the money down to a degree that Henry looks prudent.
Oh my goodness. Someone told me about the sacred meeting of the coin experts, the robes etc but I didn’t think it was still happening 😳I thought it must have ceased happening over a hundred years ago. Absolutely fabulous.
I moved to Japan last year and kept noticing that my 500 yen coins wouldn't work in vending machines or other coin operated machines. Someone eventually explained that the government had redesigned them a few years ago but didn't take into account that the new ones were slightly different in shape and composition and wouldn't work in the 4 million vending machines throughout the country. Sometimes small decisions have big impacts.
There was period starting in the mid 19th century when Switzerland, France, Belgium, and Italy (including the Papal states) standardized their gold coins. It was called the Latin Monetary Union.
@@Conquerthemall Well, two things happened. We went off the gold standard, so the coins became obsolete. They are still minted and sold as bullion, at least the Swiss and French francs are. The second is the Euro, which is an even more widespread standardization of money.
Excellent. Getting the relative value of coins to the metals therein and the interpretation of this symbolic value representation is something I have often wondered about. I shall be watching this one again when I am somewhat more awake! Nice one Dan and team. 🌟👍
I'd be interested in how they silver plated coins in the 16th century, were they just dipped into molten silver, since electroplating wasn't invented until the 19th Century.
Silver leaf? That’s probably too fragile but a similar system with a thicker leaf might work for a brief time. I wonder how fast the coins wore down, if we know that it might tell us more about the method they used.
4:55 It led to some other fun currencies after his reign that were used to rectify the mess Henry VIII caused. I have a coin from his daughter, elizabeth, that is a 3/4 penny, an attempt to fix the currency
I believe in this episode we lost an opportunity to discuss the exchange rates between the main coins. Especially given that you had a book with all the coins that were circulating at that time in Europe...
@charlesmurphy1840 nope it really doesn't everyone in the industry knows Debeers fixed the prices the stones aren't even rare no jeweller outside the scam puts any faith in stones and no pawn broker
@charlesmurphy1840 Diamonds are intrinsically worthless: Former De Beers chairman (and billionaire) Nicky Oppenheimer once succinctly explained, “diamonds are intrinsically worthless.” Diamonds aren’t forever: They actually decay, faster than most rocks. Diamonds can bring injury: Yes, the diamond trade creates jobs. But many diamonds are still mined in very bad, environmentally damaging, working conditions, too often employing child labor.  A Diamond Is For Never   Konstantine Buhler · Follow Published in non-disclosure 4 min read · Oct 11, 2016 Listen Share As our country matures, shouldn’t our engagement traditions? I recently sat down with a newly engaged GSB classmate. A couple drinks in I asked him how much he paid to adorn his love’s left hand. “25k?” I guessed. He laughed, “25? Yeah right! Try north of 60!” So just what are these rocks on which we spend $20k, $30k, $40k, $50k+?  Turns out diamond engagement rings weren’t common until 20th century diamond advertising campaigns. And despite what you might have heard, diamonds don’t carry intrinsic value, often come from places where the environment and workers are abused, and are a standardized objectification of what should be unique love. In 1938, De Beers faced a problem. As a result of the Great Depression, diamond prices were falling. Harry Oppenheimer, the company’s CEO, did what any good CEO of the time would. He hired one of the best advertising agencies, N. W. Ayer & Son. These are the guys who excited Americans about Camel cigarettes with the slogan, “I’d Walk a Mile for a Camel.” Camel was an advertising home run, but Ayer & Son was about to hit a grand slam. “A Diamond Is Forever.” You’ve heard it. You’ve believed it. We’ve all fallen for the creative genius of excellent advertising. If you measured slogans by the amount of money they generated from thin air, this slogan might be second to none. Advertising Age Magazine named it the best advertising slogan of the 20th century. Following ads featuring celebrities and carrying the A Diamond is Forever slogan, the general public started wanting diamonds to signify love. Things were looking up for De Beers: men all over America were spending a month’s earnings to buy a piece of carbon from Harry.  But the 80’s came and, like any smart company, De Beers wanted a bigger piece of the pie. They couldn’t sell you two diamond engagement rings (though divorce helps) but they could double the amount of the average sale. That’s when De Beers started circulating the ad “Two months’ salary showed the future Mrs. Smith what the future will be like.” I’d walk a mile for a Camel, and I’d work two months for a rock (actually, a mineral). Damn, Ayer, you were good. Today if you visit DeBeers.com you will find that the first tab on the home page is “Engagement.” The website now has a “your bridal style” quiz that appears to be a classier version of one on Buzzfeed. At the end of picking “your bridal style,” De Beers presents a wedding concept. Mine was “Encircling Harmony.” With links below to Pinterest, you can share your desire with your social network. But I ask myself, “Why we are sharing pictures of diamond rings instead of the following information?” Diamonds are intrinsically worthless: Former De Beers chairman (and billionaire) Nicky Oppenheimer once succinctly explained, “diamonds are intrinsically worthless.” Diamonds aren’t forever: They actually decay, faster than most rocks. Diamonds can bring injury: Yes, the diamond trade creates jobs. But many diamonds are still mined in very bad, environmentally damaging, working conditions, too often employing child labor. Then there’s the myth that diamonds are rare. Look at the McKinsey or Bain reports on the industry, and you will find that it is struggling, in part because it is having a hard time “managing supply.” Indeed, Lockheed Martin just filed a patent for a 3D printer that prints diamonds. And did you know Silicon Valley has its own fledgling diamond industry? At the end of last year the Diamond Foundry, a startup raised $100M in a “seed” round from the likes of Obvious Ventures Mark Pincus, Jeffrey Skoll and Leonardo DiCaprio. The company makes synthetic diamonds branded as “Impeccable Provenance. Masterful Cuts. Beautiful Inside And Out.” In addition to hiring world-class scientists, they have two of the best Master Cutters in the world.
@charlesmurphy1840 Americans exchange diamond rings as part of the engagement process, because in 1938 De Beers decided that they would like us to. Prior to a stunningly successful marketing campaign 1938, Americans occasionally exchanged engagement rings, but wasn't a pervasive occurrence. Not only is the demand for diamonds a marketing invention, but diamonds aren't actually that rare. Only by carefully restricting the supply has De Beers kept the price of a diamond high. Countless American dudes will attest that the societal obligation to furnish a diamond engagement ring is both stressful and expensive. But here's the thing -- this obligation only exists because the company that stands to profit from it willed it into existence.
8:00 At about this time, I thought of the loss of trust in the government, the consequences, and what it will take to regain that trust. Across the Pond?
@HistoryHit *Archimedes*, the Greek polymath of the third century BCE, had the same problem to solve; He was asked by the King of Sicily to determine whether or not his crown was of pure gold, or was an alloy of gold and silver? As with many good ideas, the solution came to Archimedes in the bathtub.
@@gailja There are people who are willing to pay millions for a toy like a Rega. Funny what ego and a need to impress others will do to a male with more money than ability.
Because Henry VIII destroyed so much in England including debasing the currency...Elizabeth I stole gold from Spanish ships znd used it to restore the gold content of the gold coinage.
also minted cash comes under the legal tender bill so that enforces to a degree some kind of protection for the user, altho i have heard many times scottish notes or change being rejected down in england
Yeah, that definitely does happen, usually because shopkeepers and businesses in England are utterly ignorant of Scottish notes, but it's true of most of the population. The easiest way to deal with Scottish notes short of going to Scotland is just to take them to a bank and get them exchanged, cause fighting with people over the legality of Scottish notes just isn't worth it.
@@JeffEbe-te2xs that's where you're wrong, Scottish notes are legal tender in England, and English notes are legal tender in Scotland. Even though Scotland is a separate nation, it's a part of the same union of nations, and that union shares a common currency, although Scottish notes have a different design on them. And just in case there's any doubt, I live in England, and have successfully used Scottish notes in England in shops without needing to exchange them first.
That's just what people who don;t understand money say. Gold coins were full of gold which has many uses......the same with silver and copper. Hence the reasons for using those metals. Even now it's not true. The BRICKS nations are the direct result of that. You can't just imagine money into existence (sort of) because it's a representation of labour and real world assets. Otherwise everyone would do it.....which most of the western world did during covid. Now we pay the price.
"Without a mint you cant trust, the entire economic life of the kingdom can collapse." Democrats? Are you hearing this? Probably not. Or they don't care. Anyways, fantastic short. Loved it.
@@raybod1775 Its been since Andrew Jackson that anyone cared about a balanced budget. So yeah I agree. I'm just pissed with the current batch of idiots up there.
Money or gold coins are not inherently worth anything but we consider them to be worth. Their only value is using them as a store of value and exchanging them for goods and services we need to survive or we just want for some reason of utility.
Oh my god, not again. This guy gets EVERYWHERE. Last time I saw him he was dressed as a 6’5" gingerbread man attempting to dance. He doesn’t know when to stop.
The value of an item is determined by how much someone is willing to pay and not what the item is made of or how important it is. Money itself is just a figment of the human imagination and doesn't actually exist, so money itself only has the value we decide to give it.
@izayaorihara7059 only if someone is willing to pay more. Some of the rarest things are cheap but some common things are expensive, just look at the price of diamonds they are the most common gems but they are kept expensive because the diamond trade restricts the supply, bottled water is more expensive than gasoline but the majority of bottled water is just filterd tap water. If no one is prepared to pay the value of an item drops dramatically.
Please please do more Numismatic History ( Coins, Banknotes and Medals ) it's my most favourite subject and hobby.
This is awesome, and your request is what I agree with.
you're inspiring me to learn more about this
I agree more videos on Hostory of coins. I also love the subject and is one of my favorite subjects. I love know the hostot of older coins. It's just simply fascinating!
What a fabulous resource that little guide book is! I have a few pieces of eight salvaged off the Isles of Scilly.
😮that book is absolutely extraordinary. It's amazing that's made it all this time. Also thank you for this history lesson
Only Dan Snow could make talking about small pieces of round metal phenomenally interesting
If you like this, you'll love the Lindybeige deep dive on the history of English coinage
You'd be surprised, coins are a fascinating topic and plenty of people can express this beautifully!
I beg to differ. He is too angular, leftist, dull and a little puerile.
VERY interesting, thank you History Hit!
Great video, There are at least 3 values now, the FACE value, the metal value, AND the collectible value. That Leopard for instance is worth ONE Leopard, and the value of the Gold metal, which is higher, and the value of such a rare coin, which is much , much more!
Well said I've seen error coins be most valuable honestly.
You would think that modern money makers would have learned from the great debasement. Instead they water the money down to a degree that Henry looks prudent.
Loved this video!
Thank you History Hit. I always learn something new from your Documentries 👍
Fascinating video. Thank you History Hit
Oh my goodness.
Someone told me about the sacred meeting of the coin experts, the robes etc but I didn’t think it was still happening 😳I thought it must have ceased happening over a hundred years ago. Absolutely fabulous.
I moved to Japan last year and kept noticing that my 500 yen coins wouldn't work in vending machines or other coin operated machines. Someone eventually explained that the government had redesigned them a few years ago but didn't take into account that the new ones were slightly different in shape and composition and wouldn't work in the 4 million vending machines throughout the country. Sometimes small decisions have big impacts.
Im calling for a History Hit crossover with the channel Objectivity. I think you and Keith and Brady would have a lot of fun at the Royal Society.
There was period starting in the mid 19th century when Switzerland, France, Belgium, and Italy (including the Papal states) standardized their gold coins. It was called the Latin Monetary Union.
Wow didn’t knew that how did it end ?
@@Conquerthemall Well, two things happened. We went off the gold standard, so the coins became obsolete. They are still minted and sold as bullion, at least the Swiss and French francs are.
The second is the Euro, which is an even more widespread standardization of money.
@@janerkenbrack3373 ok
Thanks for the info
True enough! 🌟👍
@@janerkenbrack3373the euro destroyed Europe and competion
Great video
Excellent. Getting the relative value of coins to the metals therein and the interpretation of this symbolic value representation is something I have often wondered about. I shall be watching this one again when I am somewhat more awake!
Nice one Dan and team. 🌟👍
Very interesting post, thank you.
Enjoyed this very much. Thanks
Awesome video folks
yes nice ! do more on coins !
I need more of this really enjoyed it. Should do a full series there is enough numismatic prices at the mint to last a lifetime more more more 😂
Some of todays minted collectable coins always surprise me 😎✊
Was hoping to find out the value of the modern pound in terms of materials.
About 40p for 9.5g, of which 70% is copper, 24.5% is zinc, and 5.5% is nickel.
Thank you.
Definitely Curt Cobain making an appearance at 1.53
Gold is money. Everything else is debt.
I'd be interested in how they silver plated coins in the 16th century, were they just dipped into molten silver, since electroplating wasn't invented until the 19th Century.
Silver leaf? That’s probably too fragile but a similar system with a thicker leaf might work for a brief time. I wonder how fast the coins wore down, if we know that it might tell us more about the method they used.
the hammered coins are wonderful
4:55 It led to some other fun currencies after his reign that were used to rectify the mess Henry VIII caused. I have a coin from his daughter, elizabeth, that is a 3/4 penny, an attempt to fix the currency
I believe in this episode we lost an opportunity to discuss the exchange rates between the main coins. Especially given that you had a book with all the coins that were circulating at that time in Europe...
very good
This content needs to be taken aboard by the US treasury.
Diamonds are the biggest joke thats why pawn brokers and jewellers only value on base metal not the stones
Not true I sold a ring with 4kt diamond for $10,000 us a year ago..depends on age of diamond and clarity
@charlesmurphy1840 nope it really doesn't everyone in the industry knows Debeers fixed the prices the stones aren't even rare no jeweller outside the scam puts any faith in stones and no pawn broker
@charlesmurphy1840 Diamonds are intrinsically worthless: Former De Beers chairman (and billionaire) Nicky Oppenheimer once succinctly explained, “diamonds are intrinsically worthless.”
Diamonds aren’t forever: They actually decay, faster than most rocks.
Diamonds can bring injury: Yes, the diamond trade creates jobs. But many diamonds are still mined in very bad, environmentally damaging, working conditions, too often employing child labor.

A Diamond Is For Never


Konstantine Buhler
·
Follow
Published in
non-disclosure
4 min read
·
Oct 11, 2016
Listen
Share
As our country matures, shouldn’t our engagement traditions?
I recently sat down with a newly engaged GSB classmate. A couple drinks in I asked him how much he paid to adorn his love’s left hand. “25k?” I guessed. He laughed, “25? Yeah right! Try north of 60!” So just what are these rocks on which we spend $20k, $30k, $40k, $50k+?

Turns out diamond engagement rings weren’t common until 20th century diamond advertising campaigns. And despite what you might have heard, diamonds don’t carry intrinsic value, often come from places where the environment and workers are abused, and are a standardized objectification of what should be unique love.
In 1938, De Beers faced a problem. As a result of the Great Depression, diamond prices were falling. Harry Oppenheimer, the company’s CEO, did what any good CEO of the time would. He hired one of the best advertising agencies, N. W. Ayer & Son. These are the guys who excited Americans about Camel cigarettes with the slogan, “I’d Walk a Mile for a Camel.” Camel was an advertising home run, but Ayer & Son was about to hit a grand slam.
“A Diamond Is Forever.” You’ve heard it. You’ve believed it. We’ve all fallen for the creative genius of excellent advertising. If you measured slogans by the amount of money they generated from thin air, this slogan might be second to none. Advertising Age Magazine named it the best advertising slogan of the 20th century. Following ads featuring celebrities and carrying the A Diamond is Forever slogan, the general public started wanting diamonds to signify love. Things were looking up for De Beers: men all over America were spending a month’s earnings to buy a piece of carbon from Harry.

But the 80’s came and, like any smart company, De Beers wanted a bigger piece of the pie. They couldn’t sell you two diamond engagement rings (though divorce helps) but they could double the amount of the average sale. That’s when De Beers started circulating the ad “Two months’ salary showed the future Mrs. Smith what the future will be like.” I’d walk a mile for a Camel, and I’d work two months for a rock (actually, a mineral). Damn, Ayer, you were good.
Today if you visit DeBeers.com you will find that the first tab on the home page is “Engagement.” The website now has a “your bridal style” quiz that appears to be a classier version of one on Buzzfeed. At the end of picking “your bridal style,” De Beers presents a wedding concept. Mine was “Encircling Harmony.” With links below to Pinterest, you can share your desire with your social network. But I ask myself, “Why we are sharing pictures of diamond rings instead of the following information?”
Diamonds are intrinsically worthless: Former De Beers chairman (and billionaire) Nicky Oppenheimer once succinctly explained, “diamonds are intrinsically worthless.”
Diamonds aren’t forever: They actually decay, faster than most rocks.
Diamonds can bring injury: Yes, the diamond trade creates jobs. But many diamonds are still mined in very bad, environmentally damaging, working conditions, too often employing child labor.
Then there’s the myth that diamonds are rare. Look at the McKinsey or Bain reports on the industry, and you will find that it is struggling, in part because it is having a hard time “managing supply.”
Indeed, Lockheed Martin just filed a patent for a 3D printer that prints diamonds. And did you know Silicon Valley has its own fledgling diamond industry? At the end of last year the Diamond Foundry, a startup raised $100M in a “seed” round from the likes of Obvious Ventures Mark Pincus, Jeffrey Skoll and Leonardo DiCaprio. The company makes synthetic diamonds branded as “Impeccable Provenance. Masterful Cuts. Beautiful Inside And Out.” In addition to hiring world-class scientists, they have two of the best Master Cutters in the world.
@charlesmurphy1840 Americans exchange diamond rings as part of the engagement process, because in 1938 De Beers decided that they would like us to. Prior to a stunningly successful marketing campaign 1938, Americans occasionally exchanged engagement rings, but wasn't a pervasive occurrence. Not only is the demand for diamonds a marketing invention, but diamonds aren't actually that rare. Only by carefully restricting the supply has De Beers kept the price of a diamond high.
Countless American dudes will attest that the societal obligation to furnish a diamond engagement ring is both stressful and expensive. But here's the thing -- this obligation only exists because the company that stands to profit from it willed it into existence.
8:00 At about this time, I thought of the loss of trust in the government, the consequences, and what it will take to regain that trust.
Across the Pond?
For the algorithm
Good video
countries to this day are still making the same error as Henry, they just do it now by printing
BUY PHYSICAL GOLD AND SILVER.
IF YOU CANT HOLD IT, YOU DONT OWN IT.
Does anyone know the title of those 16th century coin reference books?
@HistoryHit *Archimedes*, the Greek polymath of the third century BCE, had the same problem to solve;
He was asked by the King of Sicily to determine whether or not his crown was of pure gold, or was an alloy of gold and silver?
As with many good ideas, the solution came to Archimedes in the bathtub.
The British people respect the coinage system
Anything is worth what someone is willing to pay for it...
very meta...
You gotta wonder who buys used panties off the web for money ?..😅😅😅
Spoken like a true capitalist baby! #merica 🤣🤣 (not taking the piss) lol
@@gailja There are people who are willing to pay millions for a toy like a Rega. Funny what ego and a need to impress others will do to a male with more money than ability.
Just look at Bitcoin?
A thing which can be created out of thin air! 😂
Nothing. But a sovereign on the other hand..
I have a few coins from London mint offices
When gold is short, invest in silver
Hello😊
The video would be better explaining how a pound is valued now.
18p isnt it
Our coinage is worthless. And any money you think you have in the bank belongs to the bank.
How much is a Continental coin (from John Wick) worth?
Henry VIII. learned from the best -Nero
202BC coine never seen one do u have ARTRA
Never answered the question?
❤❤❤........
Because Henry VIII destroyed so much in England including debasing the currency...Elizabeth I stole gold from Spanish ships znd used it to restore the gold content of the gold coinage.
Another surprising detail where taxpayers money is squandered on antiquated ceremonies and civil service positions.
Insane that these dudes are just holding ungraded rare coins without gloves. Things are different in the US 😂
In that case, I’ve got a few coins for you, Dan. You can have all my £1 coins for only £100 each. 😂😂
Depends on the coin, right?
Bank of England need to stop
Printing I O U NOTES 5,10,20,50, I O U NOTES WORTHLESS NO BACKUP
also minted cash comes under the legal tender bill so that enforces to a degree some kind of protection for the user, altho i have heard many times scottish notes or change being rejected down in england
Yeah, that definitely does happen, usually because shopkeepers and businesses in England are utterly ignorant of Scottish notes, but it's true of most of the population.
The easiest way to deal with Scottish notes short of going to Scotland is just to take them to a bank and get them exchanged, cause fighting with people over the legality of Scottish notes just isn't worth it.
It would be like me spending American money in England
They are foreign money
@@JeffEbe-te2xs that's where you're wrong, Scottish notes are legal tender in England, and English notes are legal tender in Scotland.
Even though Scotland is a separate nation, it's a part of the same union of nations, and that union shares a common currency, although Scottish notes have a different design on them.
And just in case there's any doubt, I live in England, and have successfully used Scottish notes in England in shops without needing to exchange them first.
I find Dan so bloody annoying and after talking to a great number of people, I am not alone on this.
I wonder how long we will have to wait until the integrity of the English economic system is once again restored?
🥱
Please don't throw away your overweight gold coins, we'll take them.
Adam smith once said: money be it gold silver paper is a matter of belief
That's just what people who don;t understand money say. Gold coins were full of gold which has many uses......the same with silver and copper. Hence the reasons for using those metals. Even now it's not true. The BRICKS nations are the direct result of that. You can't just imagine money into existence (sort of) because it's a representation of labour and real world assets. Otherwise everyone would do it.....which most of the western world did during covid. Now we pay the price.
So in this day and age are and why are we paying these people ???
Like all things, a coin is worth exactly what someone will give you for it.
Not rarest but hey ho
Very bad explaination.
"Without a mint you cant trust, the entire economic life of the kingdom can collapse."
Democrats? Are you hearing this? Probably not. Or they don't care. Anyways, fantastic short. Loved it.
Actually inflation is driven by Republicans…
Republicans too, both parties don’t care about a balanced budget.
@@raybod1775 Republicans haven’t had anything close to a “balanced budget” since there have been republicans.
Yet it’s the Republicans that try to balance the budget while Democrats spend and borrow
@@raybod1775 Its been since Andrew Jackson that anyone cared about a balanced budget. So yeah I agree. I'm just pissed with the current batch of idiots up there.
Is anyone giving away a King Edward III as a prize for the like and subscribe?
Money or gold coins are not inherently worth anything but we consider them to be worth. Their only value is using them as a store of value and exchanging them for goods and services we need to survive or we just want for some reason of utility.
One could say that of anything 😏
@@associatedblacksheepandmisfits exactly anything that’s durable could be used as money any metal etc.
One could say that about anything yes till and this is the fun part some tech comes that requires be it lithium gold pyrite ect.
So you think a sovereign is the same as a copper/nickel £1 coin? Both are nominally worth £1 as legal tender.
Oh my god, not again. This guy gets EVERYWHERE. Last time I saw him he was dressed as a 6’5" gingerbread man attempting to dance. He doesn’t know when to stop.
What's up with all your affiliate channels putting out all the religious nonsense?
The value of an item is determined by how much someone is willing to pay and not what the item is made of or how important it is.
Money itself is just a figment of the human imagination and doesn't actually exist, so money itself only has the value we decide to give it.
Yeah, but some things are intrinsically rarer then others, which makes them more valuable.
@izayaorihara7059 only if someone is willing to pay more. Some of the rarest things are cheap but some common things are expensive, just look at the price of diamonds they are the most common gems but they are kept expensive because the diamond trade restricts the supply, bottled water is more expensive than gasoline but the majority of bottled water is just filterd tap water.
If no one is prepared to pay the value of an item drops dramatically.
cool video... kinda Boris done the same with Brexit... wierd how history repeats with people of excess
I have a 10 shilling coin/medal thats 1 of 3 known in existence, its from 1633
That depends on when and where its from and what metal was used
Assuming it's gold or silver, more than £1.99 I'm guessing!
❔️🪙 ❓️