The currency reform of 1247 which saw the introduction of the voided long cross coinage was driven not only by the poor state of the existing short cross coinage, but also by the opportunity to profit from the introduction of a new coinage. In fact it was the King's brother, Richard of Cornwall, who was a main benefactor as a result of his arrangement with the king to provide sufficient silver to permit the re-coinage operation. Richard made a loan of 10,000 marks (equivalent to 1.6 million pence) for which he was due to receive half the profits from the re-coinage for 12 years. The first of these new coins was introduced in November of 1247, class 1a and issued in London only. Minting was extended to Canterbury and Bury shortly afterwards but with a modified legend to show the abbreviated mint name, these being class 1b coins. Both 1a/1b and 1b/1a mules exist. The mints at London and Canterbury were initially under the sole charge of Nicholas of St Albans, but he was joined by a further three moneyers once the re-coinage was well under way.
For BNJ References see the Henry III long cross home page.