CHAP. XXIII. 



WEAR OF COIN. 181 



the beginning of the eighteenth century has been 

 calculated in this inquiry. 



We come now to the other metal, silver, which 

 is of larger amount, and has been so at all periods 

 of the world, and which is subject to much more 

 loss than gold suffers. In examining this part of the 

 subject it becomes necessary to refer again to the 

 Mint experiment in Appendix, No. 1 , A. It will be 

 remarked by that account that the same difference 

 in loss in proportion to the weight of the pieces 

 occurs in silver as in gold. In this case, it will only 

 be necessary to consider the case of the shilling 

 pieces, which nearly equal in amount the crowns, 

 half-crowns, and sixpences *, and may be taken as 

 showing the average loss on the whole 2 ; the 

 greater loss on the sixpences balancing the less 

 loss on the larger description of pieces. Though 

 the pieces were coined in 1816 and 1817, the 

 great issue of them did not take place till 1818, 

 and then not more than one-third of them were 

 issued. It appears, then, that the loss in eight 

 years on the shilling pieces had been at the rate 

 of two pounds five shillings and eleven-pence of 

 their value, which would show a loss at the rate 

 of one part in three hundred in each year. This 

 is, however, on the supposition that the whole had 

 been issued at the time, and that the whole had 

 continued in constant circulation ; but it is well 



1 See Appendix, No. 3, B. 2 Appendix, No. 3, A. 



