Memoranda on costings for copper coinage

Author: Isaac Newton

Source: MINT 19/2/348, 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 19/2/350]
  Memoranda on costings for copper coinage [MINT 19/2/358]

<348r>

If Copper be mixed with any other base metall or semi-metall it will not endure the hammer when red hot but fly in pieces. So soon as it is refined by the Copper-workers {d}|t|o that degree as to be purged from all other base metalls, it begins to endure the hammer hen red h{illeg}|o|t & to be worth about 98 or 100^li per Tunn; & such copper they call fine copper. For making Copper Vessels they refine it a littl{illeg}|e| higher, & for drawing into wyer they refine it still higher. But for money it suffices to refine it till it begins to beare the ha{illeg}|m|mer 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 assaying copper by separating the other base metalls 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 receive it when refined to the degree above mentioned.

In the reign of King Charles II a pound weight of Swedish copper was cut into 20^d. The copper & making the blanks cost 1{illeg}|8|^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 $\frac{3}{4}$ ^d, & the coynage will cost 5 $\frac{1}{2}$ or 5 $\frac{3}{4}$ including the work of the Smith & Graver: so that the whos|l|e charge of copper & coynage will scarce exceed 16 $\frac{1}{2}$ ^d per pound weight averdupoise. 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 int{illeg}|o| 20^d, there will remain 2 $\frac{1}{2}$ ^d per pound weight for purchasing Mills & Presses & setting up a copper Mint, & paying Clerks & incident charges of assaying, weighing, telling, porterage/,\ putting off, &c

The Mills & Presses & other Engines for setting up a copper Mint will cost six or seven hundred pounds. And three farthings per p{illeg}|o|und weight in coy{illeg}|n|ing an hundred tunns will pay that charge. And when a copper Mint is set up, a pound weight of copper may be cut int{illeg}|o| 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 & ta{illeg}|le| of all the copper money coined may be entred in books & in the Master & Workers account, & the surplus above all charges may be paid into the Exchequer.