168 WEAR OF COIN. CHAP. XXIII. 



CHAPTER XXIII. 



On the rate of loss on gold and silver coin by abrasion in 

 remote and recent periods. 



IT has been hitherto assumed in this work that 

 the loss on the general mass of coined gold and 

 silver by wear alone amounts to a three hundred 

 and sixtieth part yearly. As from the greater in- 

 crease of those metals more use of them was made 

 for money, so the more general and rapid circula- 

 tion of them, and consequently a greater loss by 

 abrasion, naturally took place. We are arrived at 

 a period when it appears to. be necessary to make 

 an alteration in the rate of the loss occasioned by 

 wear. In showing the grounds of that alteration 

 it may be most convenient to go back and show 

 the grounds on which the former assumption was 

 made. 



In examining this subject, reference must be 

 had to the several experiments, the particulars of 

 which are detailed in the Appendix No. 1, to which 

 the reader was referred in the first volume. The 

 experiments made by the officers of the mint in 

 April 1807, and the 16th December 1826,.throw 

 much light on the subject. It is, however, neces- 

 sary to go a little farther back to a course of 



