A farthing (meaning fourth part) was an English coin worth one quarter of a penny and 1/960 of a pound sterling. Such coins were first minted in England in the 13th century, and continued to be used until 31 December 1960, when they ceased to be legal tender. Early farthings were silver — and surviving copies are rare because they were rarely stored; the first copper farthings were issued during the reign of King James I who gave a licence for minting to John Harrington. Licences were subsequently given out until after the Commonwealth when the Royal Mint resumed production in 1672.