CHAP. XXIII.

WEAR OF COIN.

185

merely smooth pieces of silver. The wear onthem therefore must have been less than on suchpieces as, from being more recently stamped, hadmore raised surfaces.

Practical men to whom the subject of the losson the metals has been one of much consideration,from being of importance in their several branchesof the gold, silver, and jewellery manufactures,commonly calculate a much greater degree ofloss on silver than is here shown. One gentle-man of great accuracy and acuteness, and muchconversant in the application of those metals inhis manufactory, communicates his opinion thus.“ The loss on coined silver is full one hundredthpart or one per cent, per annum. If one hun-dred pieces of 1815 and 1816, and upwards tothe last date on the silver coin be examined, itwill give this result. Though this loss is muchgreater than on gold, it is easily accounted for;for first, the same degree of friction will produce agreater diminution of weight, and secondly, theconstant and never ceasing circulation of the silvercoinage far exceeds that of gold, since it never willbe hoarded or kept in a state of rest, it not beinga measure of value in this country, but a token orrepresentation of value.”

These experiments on silver having been madeon coins of the English standard, are not adaptedto form a scale by which to measure the effect ofabrasion, either on the silver coin of the ancients