James II gunmoney shilling (large size)

The "gunmoney" coinage was struck from brass obtained from old cannon, bells and other sources of scrap metal. It was issued by James II as an emergency token currency, which would be exchanged for good silver once he had won the war against his protestant foe, William III. The month, in this case October, was added to the coin as a means by which the redemption could be spread over a convenient period of time. In the event, James was defeated, and after circulating briefly at their intrinsic value the coins were demonetized in 1691.