This three halfpence coin, part of a cache of wealth hidden by Walter Bagnall, was created during the reign of Queen Elizabeth I. The coin was stamped with the phrase "FLORENT CONCORDIA REGNA," or "All nations flourish by peace."

Walter Bagnall was the first European settler on Richmond Island, near Cape Elizabeth, in 1628. He became wealthy by cheating the Wabanaki, specifically the female leader Warrabitta’s family, at his trading post. According to Massachusetts Governor Winthrop, "Bagnall...was a wicked fellow, and had much wronged the Indians."

Bagnall had violated his social responsibilities, and as a result, Warrabitta’s brother, Skitterygusset, killed Bagnall in 1631 and burned down the trading post. This act was a redistribution of power and asserted Wabanaki jurisdiction of the area. It is thought that Bagnall hoarded and buried money just before his murder. The number of coins and their international span demonstrates the far reaches of the fur trade in Maine.