More detailed account of the value of Mexican and Seville coins taking wear into account

Author: Isaac Newton

Source: MINT 19/2/195, National Archives, Kew, Richmond, Surrey, UK

Additional Information
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- Revision History
  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
    - Catalogue exported to teiHeader by Michael Hawkins
  - 25 August 2016
    - Transcribed by Will Scott
  - 23 September 2016
    - Will Scott finished transcription
- Download MINT00307.xml and schema (advanced users only)

<195r>

To the R^t Hon^ble the Earl of Oxford & Earl Mortimer, Lord High Treasurer of great Britain

May it please your Lord^p

Vpon the annexed Proposal shewed me by S^r Lambert Blackwel by yo^r Lord^ps Order for setling the \real/ value of Mexico Dollars to be received at Port Mahon: I humbly represent that these Dollars are worth 11^oz. 1^{dw^t} fine|a penny w^t worse than sterling| & weigh 17 $\frac{1}{2}$ ^{dw^t} one w^th another when fresh out of the Mint & are then worth 4^s 6^d a piece in their intrinsic value, & if a grain or\about/ two \grains/ be abated for \the/ wearing of some of them they will be worth about 4s 5 $\frac{3}{4}$ ^d a piece. In this valuation S^r Lambert agrees w^th me\very nearly/: for he tells me that {illeg}|1|000 Dollars of this sort are found by Merchants to weigh 872 ounces Troy, within an ounce or two over or under, (& at this rate a Dollar weighs 17^{dw^t} 10{illeg}^gr at a Medium)

[Sevil Dollars (old plate) were worth 4^s 6^d a piece when fresh out of the Mint, {{illeg}|b|}ut are now much diminished by wearing, & Sevil Dollars new plate are of a lighter species being worth but 3^s 7^d or 3^s 7^d $\frac{1}{4}$ a piece. The Pillar pieces of eight are finer but more worn then the Mexico, & but few in number, the Peru pieces are coarser & most worn & diminished.

After the Mexico Dollars are told out of the baggs they may be weighed by a thousand at a draught for ascertaining their value more exactly & an {account} account may be taken of them by persons deputed on both sides, & the{illeg} weights by w^ch they are weighed may be compared exactly w^th our weights Troy by the same persons.

[If an eaven number of Dollars suppose eight or nine hundred thousand be borrowed] The interest at 5 per cent may be recconed also in dollars & both interest & principal paid either in Dollars or in bullion [at such a rate as shall be agreed upon]. And I further humbly represent that Spanish Dollars are valued in London as bullion, that is a If these Dollars should be brought to London they m{{illeg}|a|}y be weighed at the Mint & received as bullion 1^{dw^t} worse then standard or if they are received by tale at Port Mahon they may be valued at 4^s