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At the dawn of the factory system, the Royal Mint didn’t care in the slightest bit about small denomination coins of silver and copper to enable small businessmen to pay their workers. The Royal Mint only produced large denominations in gold for big business doing big trade deals.

Frustrated with the inability to pay workers, the entire period from 1700 through 1813 saw the evolution of a sophisticated industry focused on coinage. Old button factories were converted to producing coins of various weights and sizes based on copper and silver. They were used to pay workers and accepted widely by merchants.