Maundy Money are coins traditionally given by the Monarch as a gift to the poor at Royal Maundy. The ceremony, which is associated with Christianity, takes place on Holy Thursday, which is the day before Good Friday. The Maundy set consists of four coins, denominated one penny, two pence, three pence, and four pence. The number of games given to each man and woman equals the age of the Monarch in years.
Story
Royal Maundy probably dates back to the 13th century. Santo is derived from the mandatum that Jesus said means “that you love one another”. It was the act of washing the feet of the poor and giving food and clothing to the poor. The Royal Families of the Middle Ages copied the ceremony as a way of showing humility.
Around 1699 the Monarch chose to send a representative rather than attend themselves, and shortly afterwards the act of foot washing was abandoned. In the 19th century, royals thought that giving money was more convenient than food and clothing and originally gave coins of the day, but later they gave specially made silver coins.
It wasn’t until 1931 that King George V reinitiated the tradition that the Monarch attended in person. Queen Elizabeth almost always attends and has only missed a few ceremonies. The ceremony was traditionally in or near London (mainly Westminster Abbey) but in recent years it has moved across the country to various cathedrals including Leicester, Sheffield, Manchester, York Minster and Armagh.
The coins used to be given to the poor, but these days they are given to people nominated for work done in the local Church. So on (say) the Queen’s 90th birthday, she would give 90 games to selected men and 90 games to selected women. The coins would be issued in a leather wallet; a white one contains the Maundy coins, and a red purse contains current coins as an additional gift.
The coins of the saint
All four coins are specially made: one penny, two pence, three pence, and four pence. They are not the same coins that are in circulation and they are quite small (between 11.1mm and 17.6mm).
Since decimalization, these have been updated by law from one cent to one new cent. They are made from Stirling silver (92.5% silver) and although they are made specifically for this ceremony, they are still legal tender. The design has hardly changed since 1822.
The reverse, which is a crowned number within an oak wreath, was created by Jean Baptiste Merlen in 1822 and has only been slightly modified since then.
The obverse shows the head of the monarch as expected. However, if you look at the obverse of Queen Elizabeth, you can see that the portrait is the original portrait that was used when she first issued coins; Although the Queen has had about five portraits, the original (of Mary Gillick) is still in use.
Even in Victorian times, recipients of Maundy’s money soon sold their games for a premium, especially around the Jubilee era, when the memory was cherished by Americans. The bags could also fetch a good amount.
In addition to the sets delivered by the Monarch, many other sets are minted for official gifts and for collectors. These are issued in a case rather than a purse. Many were given to the workers of the Casa de la Moneda or other officials. Maundy sets could be ordered from the bank until 1908, when 9,929 were minted that year. Dealers rushed to buy games and sold them at a huge profit. This eventually got a bit out of control and the Mint cut production considerably. In recent years, the mintage numbers have been around 1600-1900 sets.