The Druid Deep Dive, Episode 18: The Great Debasement: when the Crown taxed the coin itself (1544-1551)
Henry VIII took 83 percent of the silver out of the penny and booked about £1.27 million. In 1551 his son's council halved the shilling by decree. Episode 18 traces who paid, twice, and reads the Fed's balance sheet and the debasement trade against it.
