It happened, as the early record goes, that, at a period when the coinage generally in circulation was much defaced and worn, a new and fresh looking shilling was paid in by a customer.
Young, in his life of Cook, "that the coin which so forcibly attracted his notice was what is called a South-sea shilling, of the coinage of George I.
The fact of free coinage means, substantially, that the state has made the money form a free good.
This increment in value to bullion, as a consequence of coinage, becomes evident when free coinage is suspended.
The Director of the Mint would assign a much higher proportion of the annual output to coinage than would DeLaunay.
So long as coinage means merely a certification of weight and fineness, this conclusion will hold.
The notion that the whole value of gold coin rests on its bullion content arises most easily in a situation where free coinage has long been practiced, and where there are no legal obstacles to the melting down of coin for other uses.
I do not see that the legal tender feature adds anything to the case of restricted coinage that it does not add to the case of free coinage.
Would it make a difference where coinage is restricted?
In Jersey the English gold and silver coinage are current, but there is a local copper coinage and local one-pound notes are issued.
A Chronological Account of Commerce and Coinage in Great Britain from the Restoration till 1810, Lond.
It was not the custom in those days for foreigners to carry money, the only coinage available being of a clumsy and non-portable character.
No; but there is another law, thecoinage act, by which the amount of silver coined depends upon the population.
So long as supply was indefinite and excessive, as under the system of the free coinage of silver, there was no way of preventing safely and effectively the decline in the gold value of the coins to the bullion value of their silver contents.
In the earliest forms of coinage there were no attempts at so fashioning the metal that its weight could not be altered without destroying the stamp or design.
The silver act, as passed by the House of Representatives, provided for complete bimetallism--for the free and unlimited coinage of the silver dollar at the old ratio of 16 to 1.
At this juncture of financial and commercial difficulties, in June, 1893, the British Government closed the mints in India to the free coinage of silver.
Having possession of the mints, the right of coinage vesting in the lord, the rulers of previous centuries have covered the pages of history with the records of successive debasements of the money of account.
Meantime the Silver-Coinage Act was modified by the Senate into a compromise requiring purchase and coinage by the Government of two to four millions' worth of silver monthly.
For the multifarious laws respecting the coinagesee Autos Acordados, Lib.
He is called "King of the Indians," and was the first to introduce a bilingual coinage by adding an Indian inscription in Kharoshthi characters on the reverse to the Greek on the obverse.
The transition to coinage was made by the use of gold ornaments and jewelry as a form of reward or payment, as was the case among the ancient Germans.
Fully nine-tenths of the American people desired the free and unlimited coinage of silver.
He served on commissions upon coinage and other financial questions; and at the same time acted as president of the Entomological Society and of the Anthropological Institute.
In 1879, owing to the continued depreciation of silver, the free coinage of silver was suspended.
In 1892 laws introducing a completely new coinage were carried in both parliaments, in accordance with agreements made by the ministers.
The coinage of the gold four- and eight-gulden was suspended.
Often he would spend the greater part of a morning tide in pacing the brink of the boiling waves, hoping to find there some coinage of his brain that had been his dream on the preceding night.
This was done quite openly and the coinage was restored at the earliest opportunity.
The citizens hated him, not for his favouring the reformers, but for the injury he had caused to trade and for his having bebased the coinage still further than it had been debased by Henry VIII.
He was a goldsmith by trade, and was appointed (among others) by Cardinal Wolsey to report upon the assay of gold and silver coinage in 1526.
Every effort was made to raise money, and the regent did not hesitate to resort to depreciation of the coinage of the realm in order to help his father.
The new duke vaunted himself more than ever, and as a fresh coinage was on the eve of being issued, he caused it to be struck with a ragged staff, the badge of his house, on its face.
Therefore William proceeded to levy on everything that could be realized upon, such as gold and silver communion services and other bric-à-brac, and free coinage was then first inaugurated.
Free coinage was now discussed, and mints established.
Hepburn, History of Coinage and Currency in the United States (1903); J.
Gold should be brought down and the currency extended by the free coinage of silver on a basis of sixteen to one.
Others declared that silver had not fallen so much in price, but that gold, in which it was measured, had risen on account of the fact that silver had been demonetized and gold given a monopoly of the coinage market.
But the inflation of the currency and the increase of prices of farm products by the free coinage of silver were the leading demands of the discontented agrarians--an old remedy for an old disease.
In this town is also a coinage for the tin, of which a great quantity is dug up in the country north and west of the town.
The debasement and underrating of the silver coinage insensibly brought about the demonetization of silver in England as a standard of value and the substitution of gold.
In these last functions he had to treat with the financiers for the coinage of new silver pieces of four sous.
The paper currency is made in Washington, and there are mints for the coinage of gold, silver, and copper in San Francisco, Denver, and New Orleans as well as in Philadelphia.
When the United States became an independent nation it was necessary to have a coinage system of its own.
Hence the mistaken policy of those people who attempt to increase the medium of trade by coinage or by a paper currency.
Act closing the Indian mints to the coinage of silver on private account.
In the third place, it does not seem certain that the urgent demands for fresh coinage of rupees, to which India is subject from time to time, will be as frequent in the future as they have been in the immediate past.
Every such addition makes a similar demand for new coinage in succeeding seasons less likely.
Negotiations for coinage of sovereigns in India (dropt indefinitely Feb.
I see no reason why the first—the coinage of sovereigns at Bombay—should have any effect at all towards increasing the use of sovereigns as currency.
For some years after the closing of the Mints no fresh coinage was undertaken.
Altogether, as was not unnatural, the early treatment of this coinage question by Japanese statesmen showed no trace of scientific perception.
In his first coinage are the cross and pellets, but in his subsequent one the cross (fleury) is retained, but in the place of the pellets is a shield, France and England quarterly.
Such an innovation as this, such a complete upsetting of the ancient deeply rooted idea of the connection between the gods and the coinage could not be introduced all at once.
The coinage was everywhere placed under the auspices of the gods, and gods, heroes, and their emblems, were alone considered worthy to be represented upon it.
No tyrant, however despotic, not even the great Dionysius of Syracuse, would have dreamed of placing his own head upon the coinage of the State.
A history of the coinagein this reign alone would fill a folio volume.
All through the history of free and independent Greece, the original idea of the religious character of the coinage may be traced.
It seems doubtful whether at first they had a coinage of their own, the probability being that those of the Romano-Britons continued, as they naturally would, to be circulated.
There can be no doubt that such symbols were the distinctive badges or signets of one of the magistrates or moneyers under whose authority the coinage was issued.
Even Philip of Macedon, when he had united in his single hand the whole of Northern Greece, and when he reorganized the coinage of his empire on a new model, placed on his gold money the head of Apollo and on his silver that of Zeus.
The use of them saves the natives from lugging about huge strings of copper cash, the only coinage of China, 50 lbs.
The principal coinage is copper, and I think I am right in stating that all the copper currency of Russia and Siberia is coined there.
So far as silver is concerned, it was practically abrogated by the clauses for the prohibition of silver coinage in 38 Geo.
In 1805 Napoleon declared himself King of Italy, but the change was not followed by any radical revolution of the coinage system.
The coinage measures, therefore, of the year 1544, when justly considered, do not possess the aspect which has been generally attributed to them.
It is not until 1665--the opening of a fresh period--that complaints of the state of the lower denominations of the coinage are again heard.
The hitherto full-valued silver coinage from 2 francs downwards was changed into token money (being reduced to .
It sinks persistently and increasingly below the legal 15-1/2, in face and spite of the united mintings of the Latin Union, and at once the premium on the importation and coinage of gold changes into one on silver.
Before the transaction was finally complete the last safeguard and complement of the system had been adopted, in fixing the relation of the gold coinage to the new silver issue.
At present I want you to look at it merely; it is not very ancient, it belongs to the coinageof 1787, so that it is scarcely five-and-twenty years old.
