CHAP, xxill. WEAR OF COIN. 18,5 



merely smooth pieces of silver. The wear on 

 them therefore must have been less than on such 

 pieces as, from being more recently stamped, had 

 more raised surfaces. 



Practical men to whom the subject of the loss 

 on the metals has been one of much consideration, 

 from being of importance in their several branches 

 of the gold, silver, and jewellery manufactures, 

 commonly calculate a much greater degree of 

 loss on silver than is here shown. One gentle- 

 man of great accuracy and acuteness, and much 

 conversant in the application of those metals in 

 his manufactory, communicates his opinion thus. 

 " The loss on coined silver is full one hundredth 

 part or one per cent, per annum. If one hun- 

 dred pieces of 1815 and 1816, and upwards to 

 the last date on the silver coin be examined, it 

 will give this result. Though this loss is much 

 greater than on gold, it is easily accounted for ; 

 for first, the same degree of friction will produce a 

 greater diminution of weight, and secondly, the 

 constant and never ceasing circulation of the silver 

 coinage far exceeds that of gold, since it never will 

 be hoarded or kept in a state of rest, it riot being 

 a measure of value in this country, but a token or 

 representation of value." 



These experiments on silver having been made 

 on coins of the English standard, are not adapted 

 to form a scale by which to measure the effect of 

 abrasion, either on the silver coin of the ancients 



