The use of pounds as a means of payment

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Over a nine year period in the 16th century, King Henry the 8th reduced the silver content of the British pound to one-sixth its initial value. Why do you think he would do so? What do you think happened to the use of pounds as a means of payment? If you held the old and new pounds, which would you use first, and why?

Reference no: EM13672198

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