Eloy Mestrelle

Eloy Mestrelle, first name sometimes spelled Eloye (died 1578), was a French moneyer who was responsible for introducing milled coinage to England. He left France in 1559 with his family, including a kinsman, Philip, and settled in London. The reason for his departure is unknown, but it has been suggested it was because he was out of favour with his superiors. It is also possible he had participated in counterfeiting and needed to leave Paris in a hurry. This suggestion is reinforced by a pardon granted by Elizabeth I on 24 March 1561 "for all treasons, felonies and offences committed before 1 March 1. Eliz. in respect of clipping or counterfeiting coin".

Mestrelle offered his services to the English court, and he was authorised by Elizabeth to set up the first coin press in England. Machine-struck, or milled, coinage was hitherto unknown in England, as all previously produced coins had been hammered. Mestrelle's machinery began producing coins sometime after 8 November 1560, initially producing shillings, groats and half groats.

On 24 October 1561 the traditional Trial of the Pyx took place, and it was decided to drop the old silver denominations in favour of new 6d, 3d, 1d and d coins. The new coinage was proclaimed on 15 November 1561, and Mestrelle was awarded an annual pension of £25, a sign of royal favour.

A reorganisation of the mint in 1572 saw the Warden of the Mint Richard Martin given responsibility for much of the mint's work, including its financial affairs. Martin had no inclination to waste money on what he saw as expensive experiments, and after tests demonstrated Mestrelle's press to be far more inefficient than the traditional coin hammerers Martin shut down Mestrelle's machinery and deprived him of access to the mint.