(1840-50s) Lloyd's Weekly Newspaper Penny Sunday Times - COUNTERSTAMP London UK

Description

(1840-50s) Lloyd's Weekly Newspaper Penny Sunday Times - COUNTERSTAMP London UK
Brunk L-430; Counterstamp on (no date) George III UK Penny; 33mm
"When Lloyd's Penny Sunday Times was founded in 1842, the government required a penny stamp be affixed to each newspaper. This allowed them to be sent through the mails many times without an additional charge. Edward Lloyd got an exemption to the regulation because he only printed serialized stories. Now being able to sell papers cheaply since he did not have to pay the tax, Lloyd quickly started to print the news and undercut his competition. Lloyd became the first generally recognized advertising pest, and paid half the wages of his workers in countermarked coins. An 1850 letter to The Times criticizing him is quoted in the Introduction. In response to Lloyd and other countermarking pests, in 1853 Parliament passed an Act to Prevent the Defacing of the Current Coin of the Realm, but that did not prevent counter stamping coins from other nations. Millions of continental bronze coins...were now stamped by British merchants with advertising. Rather than ending the practice of countermarking coins, the 1853 act just shifted the coins on which English advertisements appeared."  - Brunk, Gregory
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