1773 Virginia 1/2P PCGS MS62 RB. In 1606 King James of England gave the Virginia Company a charter which included the right to coin money. Later, in 1645, the Grand Assembly of the Colony passed an act ordering coinage of money. Although this act was never put into effect, it legalized the use of Spanish coins which were already in common use and provided for the death penalty for counterfeiters. The barter system as well as the use of other coins continued until 1773 when a George III half penny appeared. It had the name “Virginia” on it with a period after “GEORGIVS”. A no period version also was minted.