On this day in Tudor history, 10th July 1561, Queen Elizabeth I visited the Tower of London mint to check on the progress of her new coins.

Debasement of coins had happened between 1544 and 1551, in the reigns of Henry VIII and Edward VI, when the government was looking to fund foreign wars. The ratio of precious metal to alloy was reduced, so more coinage could be produced more cheaply, with the government pocketing the profit.