From Speculation: Undercurrents of Treachery:
“John Dee shouldered his way through an increasingly hostile crowd in the Kingston marketplace. The chill autumn air was thick with tension and a rumble of discontent that threatened to erupt into something more dangerous at any moment.
At the bakery stall, Dee reached into his leather pouch and counted out two pennies for his purchase. The baker frowned, shaking his head.
“‘Tis three pence now, Master Dee. Price went up yesterday. Bad coin means more coin, if you take my meaning.”
Dee sighed. As he added another silver coin to the small pile, he noticed how much lighter and paler the pennies were than those minted under old King Henry. Even to a casual observer, these new coins contained far less silver than their predecessors. He was no merchant, but as a mathematician, the rapid inflation was a problem he could calculate with alarming precision.
The baker, a stout man wearing a flour covered apron, saw Dee’s expression of disgust and shrugged apologetically. “I can’t help it, Master Dee. My own costs have doubled. For example, the new coins buy half the wheat they used to.”
Around him, the marketplace seethed with similar transactions and arguments. A woman turned away from a butcher’s stall empty handed, her face a mask of quiet desperation – her three small children clutching her skirts and wailing.”