Memoranda on costings for copper coinage

Author: Isaac Newton

Source: MINT 19/2/350, National Archives, Kew, Richmond, Surrey, UK

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  - 1 January 2001
    - Catalogue information compiled by Rob Iliffe, Peter Spargo & John Young
  - 29 September 2011
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Related Texts
- This document is a version of:
  Memoranda on costings for copper coinage [MINT 19/2/358]
  Memoranda on costings for copper coinage [MINT 19/2/348]

<350r>

If Copper be mixed with any other base metal or semi-metal it will not endure the hammer when red hot but fly in pieces. So soon as it is refined by the Copper-workers to that degree as to be purged from all other base metals, it begins to endure the hammer hen red hot & to be worth about 98 or 100^li per Tunn; & such copper they call fine {t}|c|opper. For making Copper vessels they refine it a little higher & for making wyer they refine it still higher: but for {illeg}|m|oney it suffices to refine it till it begins to beare the hamne|m|er when red hot. They that work in Copper can readily judge of the fineness also by breaking off a little piece & observing the grain & colour where it breaks. There is also a way of {s}|a|ssaying copper by separating the other base metals from it, but the assay by the hammer I reccon sufficient for the Mint. For it will be proper for the Master & Worker not to receive course copper & put it out to refine as is done in gold & silver but only to received it when refined to the degree above mentioned

In the reign of King Charles II a pound weight of Swedish Copper cost {illeg} was cut into 20^d. The copper & making the blancks cost 18^d, the stamping {illeg}|1|^d, & a penny remained for other charges.

A pound weight of fine English copper such as will endure the assay above mentioned will cost 10 $\frac{1}{2}$ ^d or 10 $\frac{3}{4}$ & coynage will cost 5 $\frac{1}{2}$ or 5 $\frac{3}{4}$ ^d including the work of the Smith & Graver, so that the whole charge of copper & coinag{illeg}|e| will scarce exceed 16 $\frac{1}{2}$ ^d per pound weight averdupois. And if the same be edged the edging will cost a penny more. And if a pound weight not edged be cut into 19^d or a pound weight edged be cut into 20^d there will remain 2 $\frac{1}{2}$ per pound weight for purchasing Mills & Presses & setting up {illeg}|a| Copper Min{illeg}|t| & paying Clerks & incident charges of Assaying, weighing, telling, Porters \putting off/ &c

The Mills Presses & other Engins for setting up a Copper Mint will cost six or seven hundred pounds. And thre{illeg}|e| farthings per pound weight in coining an hundred Tunns will pay that charge. And when a Copper Mint is set up, a pound weight of copper may be cut into 18 $\frac{1}{2}$ ^d or 18^d not edged, or a penny more if edged.

The weight of all the Copper received, & the weight & tale of all the copper money coined & made fit for delivery to be entred in Books & in the Master & Workers account, & the surplus to be paid into y^e Exchequer.