In Spain the first coining of gold by the Christian powers fell in the same epoch and derived from the same source. Alfonso XI. (1312-50), surnamed the "Noble," was the first King of Castille who coined the oro gran modulo (doblas de oro), while in Aragon Pedro IV. (1336-87), "the Ceremonious," in his oro florines directly imitated the Florentine type, though his later pieces are more original in design.
Finally, with regard to England,—to whose monetary history a central importance attaches,—the course of events was most evidently controlled by the revolution in the continental currencies. It is, at the same time, comparatively easy to ascertain. The first of our kings to issue gold coins was Henry III., who in 1257 coined a penny of fine gold, of the weight of two silver pennies of the time, and ordered it to be current for twenty pence.
There can be no doubt that the idea of such a coinage was derived from that of St. Louis of France; and, just as in France, the issue seems to have been premature. Probably neither in the one country nor the other did there exist a sufficient store of the precious metal itself, nor sufficient activity of trade to attract such a store, or Page 12 indeed to make a gold coinage at all a matter of mercantile advantage. It is only a developed and active or considerable trade that demands so enhanced a medium of exchange. Accordingly, just as in France, there is a noticeable gap between the first actual minting of gold by the predecessors of St. Louis, and the minting of it in such quantities as to make a factor in commercial and monetary history, in the days of Philip le Bel (1295); so, in England, the first issue of Henry III. was followed by an interval of nearly ninety years, during which no coinage of gold by our kings took place. The real introducer of this metal into English currency and commerce was Edward III., and the first practical issue of it is to be dated in 1344, rather than 1257. It will be seen at a glance what this statement implies. The issue of Henry III. in 1257 had been premature—an act of kingly rivalry and show, rather than of commercial necessity. But the