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Great Britain - 1811

Cox`s Iron Foundry penny

Obverse:

Within an inner circle: a workman at a forge.

Legend:

Within an outer beaded circle: TAUNTON PENNY TOKEN

Size:

34.5 mm.

Edge:

centre grained backslash

Reverse:

A legend in four lines: A POUND / NOTE / FOR / 240 / TOKENS

Legend:

Within a beaded circle: PAYABLE AT MESS^RS COX's . IRON FOUNDRY

Vern's Comments:

Withers:
Cox's Iron Foundry

PENNY
1125 Penny, undated.
TAUNTON PENNY TOKEN around; in centre, workman at a forge.
℞ PAYABLE AT MESS^RS COX's . IRON FOUNDRY · around; in centre, A POUND NOTE FOR 240 TOKENS in 4 lines.
Davis 121
Edge : centre grained backslash D16.
35mm 18.7g Die axis ↑↓. C

The Cox's retail establishment was on the west side of the bottom of High Street, Taunton, where it met Fore Street, and an old print shows Cox to have been a grater manufacturer and ironmonger.
The Taunton Courier for 29 March, 1810, records the laying of the foundation stone:

It is a circumstance which augurs favourably of the rising commercial spirit of this part of the County of Somerset, that an Iron and Brass Foundry and Manufactory on a very extensive scale is now establishing at Taunton. The foundation stone was laid a few days since, and a very general sentiment prevails of the importance and utility of the undertaking.

In January of 1811 the same paper carried an advert :
   MESSRS. COX beg leave to inform the Public that their FOUNDERY is now at Work, and is ready to execute any Orders in Loam or Sand, at the shortest Notice, and on the lowest Terms.
William Cox, an ironmonger, was already running a successful business in Taunton in 1793. Pigot's Directory for 1822 shows that the ironmongery side had expanded and lists James Blatch Cox of High-street, William Cox senior and George Cox of Fore-street, and William Charles Cox of 32 The Parade. William Cox and Company of Tancred-street are listed under the heading of Iron and Brass Founders.
   S Minnit in 'Coxs of Taunton and their Penny Token' in the 1981 Journal of the Somerset Industrial Archaeological Society says :
   Amongst a small collection of papers relating to the firm in the Somerset Record Office there is a brief reference to the token having made a loss for the Coxs and it appears in a document entitled "Proposals offered by W. B. Cox to Messrs W. & W. C. Cox relative to the former declining to become a partner in a Foundry Concern established at Taunton". Included in the agreements were a refund of £1,000 of invested money and the repayment, with interest, of a £672 loan, both going to W. B. Cox. The total was to be paid in four instalments over two years and beginning on August 4, 1819. The final point reads "The loss on the Copper Tokens issued to be borne mutually". (Somerset Record Office, DD/CH 74/8). Regrettably, no further details are given but the fact that it is included in this document indicates that a significant amount of money was involved.
Sharp et al. say that the dies were engraved by P Wyon.

Cox`s Iron Foundry penny