'An Account of the Scotch money'

Author: Isaac Newton

Source: MINT 19/3/2-3, National Archives, Kew, Richmond, Surrey, UK

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- Revision History
  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
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  - 16 March 2017
    - Transcribed by Will Scott
  - 6 June 2017
    - Minor amendment made by Will Scott
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<2r>

An Account of the Scotch money.

The Scots ever since a treaty between them and the English in order to a union in the reigh {sic} of K. Iames y^e 1^st have coyned their silver monies of the same standard with the English, viz^t 11 ounces 2 penny weight fine & eighteen penny weight {illeg}|a|llay. For w^ch end they have indented trial pieces sent from hence of the same plac|t|e with those made for the English Mint. The standard Troy weights by w^ch they coyne are also made at o^r Mint at y^e same time with o^rs by common consen{illeg}|t| of both Mints and our pound Troy is greater then theirs by four penny weight and nine grains \of ours. {sic}/. And {illeg}|a|s we divide o^r ounce Troy into {illeg}|6|2 pence so they divide their ounce Troy into 62 shillings (for their shillings in this recconing answer to o^r pence) excepting that they make their money lighter by four in consideration of the charge of coynage and to prevent the melting down of their money, they make their money lighter by four shillings in the pound wei sixty (as I am informed:) so that 60 shillings of their money are to their ounce Troy as 56 to 62 or 28 to 31 and by consequence ought to weigh 425 $\frac{20}{31}$ grains (or 17^dwt 17 $\frac{20}{31}$ ^gr) of our pound \Troy/ (as I find by triall they do) & to be worth 55 {illeg}|E|nglish pence wanting the the {sic} 48^th part of a penny. The experiments we have made of the weight & fineness of their money are as follows.

Pieces coyned	Date	Kings reign	Fineness	Weight		Value
				_s	_gr	_s	_d
A two-Mark piece	1673	Cha: II	Worse vij^dwt	175		1.	9 $\frac{7}{8}$
A Mark piece	✱	Cha: II	Worse vij	86		0.	10 $\frac{3}{4}$
Another Roettiers	1675	Cha: II	Worse ij	102		1.
A half Mark piece	6\|1\|665	Cha: II	Worse iij* ob*	42		0.	5 $\frac{1}{4}$
A three pound piece	1681	Cha II	Worse iiij	416		4.	4 $\frac{3}{4}$
Another —	1682	Cha II	Worse iij	425		4.	6 $\frac{1}{6}$
Another —	1691	W^m & Ma.	sta.	425		4.	6 $\frac{9}{10}$
A forty shillings piece	1687	Iac. II	not assayed	284		✱	✱
Another —	1688	Iac II	sta	283		3.	0 $\frac{1}{2}$
Another —	1689	W^m & Ma	sta	284		3.	0 $\frac{2}{3}$
Another —	1694	W^m & Ma	sta	284		3.	0 $\frac{2}{3}$
Another —	1695	W^m	sta: scant	284		3.	0 $\frac{2}{3}$
Another —	1695	W^m	Worse iij	283		3.	0

<2v>

Another	\|Gul\|	29\|16\|69	sta.	284	{5}\|3\|.	{illeg}\|0\| $\frac{2}{3}$
Another	\|Gul\|	1696	worse ij	283	3.	0 $\frac{1}{6}$
A twenty shillings piece	\Gul/	1695	sta.	142	1.	6 $\frac{1}{3}$
Another	\|Gul\|	1696\|5\|	sta.	142	1.	6 $\frac{1}{3}$
Another	\|Gul\|	1696	sta. scant	142	1.	6 $\frac{1}{3}$
A ten shillings piece	\|Ia. II\|	1687	sta	71	0.	9 $\frac{1}{6}$
Another	\|Iac. II\|	✱	sta	71	0.	9 $\frac{1}{6}$
Another	\|Gul\|	1695	not assayd	71	✱.	✱
Another	\|Gul\|	1695	sta	71	0.	9 $\frac{1}{6}$
Another	\|Gul\|	1695	sta	68	0.	8 $\frac{3}{4}$
A five shillings piece	\Gul/	✱	wors {sic} 1^dwt	35	0.	4 $\frac{1}{2}$

The two Mark the Mark and the half Mark pieces coyned |be|fore the year 1675 are bad work & c{illeg}|o|nsiderably coarser then standard: for which reason they were called in neare the end of that reign and are no longer current.

The sixty, forty twenty ten & five shillings-pieces coyned since are better money & make up the bulk of the money w^ch now (viz anno 1697) comes out of Scotland. Those coyned in the reigns of King Iames & King William are well sized. Most of their money here examined is standard none too fine some too coarse so that one piece w^th another it may be recconed above an half penny weight worse then standard.

The Scots now pay their shillings for our pence in the borders of Scotland & putt off o^r crown pieces for 65 & sometimes 66 of their shillings in Scotland (as I am credibly informed:) w^ch being an advantage of 8 or 10 per cent has filled the borders of England with their money and Scotland with ours. And the carrying on of this trade hath or might have in time prompted them to melt down our money had not & carry it to their Mint had not o^r enquiry into this matter \now/ put an end to it by the Lords of y^e Treary ordering the Lords\Receivers/ to refuse their money.

If the Scotch money were all coyned of a just weight & Allay 11^s 9^d of such money would be worth 10^d $\frac{3}{4}$ of o^rs. But considering that some pieces of their money are too light |&| others too course & that their money is more easily counterfeiters then o^rs, we may receive their 10^s pieces for nine pences & their 4|5|^s pieces for four pence halfpennies & their Mark & half mark pieces (when ever they shall coyne any more) for shillings & six pences, and <3r> so proportionally of their other pieces of money. For these are round recconings fit for use and approach the true value of their money most neary {sic}.