United Kingdom – 2 Pence – George III (2nd issue; ‘Cartwheel’) – 1797
Throughout the 18th century, the United Kingdom was faced with a shortage of low-value coins. Pennies and tuppence weren’t issued at all, and as such, were supplemented by privately issued tokens. In 1797, the British government commissioned the Soho Mint to produce low denomination coins using their new steam-powered presses. The amount of copper in these coins was worth nearly the same amount as the coins themselves, making counterfeiting uneconomical. However, they were also very large, leading to them being nicknamed “cartwheels”.