1 Groat - Henry VIII 2nd coinage, Laker bust D

Henry VIII's second coinage ran from 1526 until the great debasement began in earnest in 1544, making this issue the last groat produced to anything approaching traditional sterling standard before the king's treasury embarked on a systematic reduction of fineness that would devastate English silver coinage for nearly two decades. The "Laker" bust designation refers to a specific die-cutter's work identified by later scholars — the D subtype is distinguished by subtle facial modeling differences catalogued through die study rather than any mint record.

By the early 1540s, Henry's wars against France and Scotland had exhausted conventional revenue. The debasement that immediately followed this coinage type generated enormous short-term profit for the Crown.