Production Of Coins Research Articles

Life Cycle Assessment of Cash Payments

Purpose: This study quantifies the impact of the Dutch cash payment system on the environment and on climate change using a life cycle assessment (LCA). It examines both the impact of coins and of banknotes. In addition, it identifies areas within the cash payment system where the impact on the environment and on the climate can be reduced. Methods: The ReCiPe endpoint (H) impact method was used for this LCA. The cash payment system has been divided into five subsystems: the production of banknotes, the production of coins, the operation phase, the end of life of banknotes and the end of life of coins. Two functional units were used: 1) cumulative cash payments in the Netherlands in 2015 and 2) the average single cash payment in the Netherlands in 2015. Input data for all processes within each subsystem was collected through interviews and literature study. Ten key companies and authorities in the cash payment chain contributed data, i.e. the Dutch central bank, the Royal Dutch Mint, a commercial bank, a cash logistic service provider, two cash-in-transit companies, two printing works, an ATM manufacturer and a municipal waste incinerator. Results and discussion: The environmental impact of the Dutch cash payment system in 2015 was 2.35 MPt (expressed in eco points) and its global warming potential (GWP) was 17 million kg CO2 equivalents (CO2e). For an average single cash transaction the environmental impact was 637 µPt and the GWP was 4.6 g CO2e. The operation phase (e.g. energy use of ATMs, transport of banknotes and coins) (64%) and coin production phase (32%) had the largest impact on the environment, while the operation phase also had the largest impact on climate change (88%). Finally, scenario analysis shows that reductions of the environmental impact (51%) and the impact on climate change (55%) could be achieved by implementing a number of measures, namely: reducing the number of ATMs, stimulating the use of renewable energy in ATMs, introducing hybrid trucks for cash transport and matching coins with other countries in the euro area. Conclusions: This is the first study that investigates the environmental impact and GWP of the cash payment system in the Netherlands, by taking both the impact of banknotes and coins into account. The total environmental impact of cash payments in 2015 was 2.35 MPt and their GWP was 17 million kg CO2e.

The Social History of Early Roman Coinage

AbstractFiscal explanations often given for Rome's first coins fail to account for the shape of monetary development. Nothing in the mid-republican budget matches the small scale and sporadic production of Roman coins during the early third century, or coinage's rapid expansion in the lead-up to the Second Punic War. Instead, I locate early Roman coinage within a broader reconfiguration of wealth and political power during the early phases of imperial expansion. Coins facilitated the exchange of wealth in the absence of strong social ties; conquest opened up Roman society to vast wealth of this order while also sparking debate about wealth's integration into the political community. Archaeological and textual evidence permits us to trace the contested and uneven development of elite accommodation to impersonal wealth during the third century. This context, I argue, offers the best explanation for Rome's initial coins.

Archaeometallurgical Characterization and Manufacturing Technologies of Fourth Century BCE Silver Jewelry: The Samaria and Nablus Hoards as Test Case

A selection of fourth century BCE silver jewelry, which is part of the Samaria and Nablus Hoards, was studied using nondestructive and minimally destructive analyses. A metallurgical methodology was applied and improved, based on the composition of the joints and bulk of the objects. The results indicate that most of the analyzed jewelry is made of silver containing a small percentage of copper, with higher Cu concentrations presented in the brazing and contact melting joints. The manufacturing processes of the jewelry from both hoards involved similar processes, including casting, hammering, bending, cutting, twisting, decorating by plastic deformation, granulating, and three joining methods. These techniques demonstrate that the artifacts were created by trained silversmiths. Our study provides better understanding of the technological skills in the late Persian-period province of Samaria and has implications regarding the production of local silver coins produced in the southern Levant.

Exploring the Impact of the Strategic Sourcing Process on the Production of Circulation Coins at the South African Mint Company

Exploring the Impact of the Strategic Sourcing Process on the Production of Circulation Coins at the South African Mint Company

Production, Supply and Circulation of National Gold Coins in Brazil (1703-1807)

In this paper, we assess the production, supply, and circulation of national gold coins in Brazil in the eighteenth century. New estimates have been provided of the volume of production of these gold coins at Mints of Rio de Janeiro, Bahia, and Minas Gerais. Comparing the values of this coinage with remittances to Lisbon, the first half of the eighteenth century reveals a more stable conjuncture than the second half. This latter period shows fluctuations that were expressed in the faster growth of the supply, despite the fall that took place in the production-coinage of gold. Our conclusions question the historiographical theses about the shortage of currency in Brazil throughout the Eighteenth Century. The growth of the economy from the last quarter of the Century onwards implied an increase in the demand for money, which may explain the increase in the supply of national gold coins.

Fabrication à la cire perdue de monnaies VERCA, sanctuaire de Chamalières

Lost wax production of VERCA coins in the Chamalières’ sanctuary. The sanctuary of Chamalières is best known for its numerous ex-voto and its Gaulish inscription. However, the coins’ lot associated with these discoveries is very singular and has not received the attention it would have deserved. It is characterized by a dominance of coins issued between the end of the Gauls’ war and the Augustan period even though some currencies are dated to the 3rd-4th century. The characteristic of most of these pieces is that they were made locally by the lost-wax casting process with a specific alloy, very rich in lead. The production seems to be rather careless, considered the fact that we found mainly failed casting and remnants of moulds. These “coins” were exclusively intended for ritual use linked to the source and would never have succeeded to gain currency. They show, however, that the Gaulish craftsmen have thought of using, for minting, this technique of lost wax casting which they had mastered for several centuries.

Silver and tin plating as medieval techniques of producing counterfeit coins and their identification by means of micro-XRF

Archaeological surveys and metal detector prospecting yield a great amount of coins from the medieval period. Naturally, some of these are counterfeit which an experienced numismatist can determine without using chemical methods. The production of counterfeit coins in the middle ages took place in castles, caves or other remote areas where waste from this activity can still be found today – copper sheets, technical ceramics and counterfeit coins. Until recently, it has been assumed that medieval counterfeit coins are made by silver-plating copper blanks using an amalgam. However, the performed analyses reveal that there are many more techniques of counterfeiting of coins. Other techniques were based on e.g. tin amalgam plating of the blanks or alloying so-called white metal with silver-like appearance from which the coins were minted. Current chemical analyses indicate that the coins were often tinned by hot dipping with no amalgamation. Micro-X-ray fluorescence analysis has been chosen as a suitable non-destructive method to identify present chemical elements in investigated artifacts and to quantify their concentrations. In addition, a quick technique telltale the plating was applied. This technique utilizes the detected fluorescence ratio Kα/Kβ of copper, which is the main ingredient of a lot of historical metallic materials.

Microchemical investigations of historical coins

Microchemical investigations were carried out on ancient silver coins originated from the same country but of different historical periods between the fifth and the second centuries B.C. Energy-Dispersive X-ray microanalysis in a Scanning Electron Microscope (SEM-EDX) was employed to obtain qualitative and semi-quantitative information about the chemical composition of these coins. SEM-EDX analyses employ an electron beam of 20 keV, which interacts with the sample leading to the emission of characteristic X-rays, to determine elements present in the surface patina, closely related to the sample preservation. In the X-ray photoelectron spectroscopy (XPS) analysis a monochromatic Al Kα radiation (1486.6 eV) interacts with the sample and photoelectrons are detected as secondary radiation, to investigate about coins elemental composition. Moreover a beam of Ar+ ions with an energy of 3 keV was used for the sputtering procedure in order to perform depth profile measurements, from the surface (patina composition) down to deeper layers. Useful information about production, chronological period and utilization places of coins are obtained to support a correct dating of these samples.

Testing of PVD Hard Coatings Applied to Coining Dies

The requirements on tools used in the production of coins include high quality and reliability, dependent on the materials from which they are made, on manufacturing technology, heat treatment and final operations achieving functional area modification. Properties of the material of coins vary during their production and there is the so-called operational degradation that can be caused by an inappropriate technology of manufacturing. The quality of coining dies is expressed as their service life which ranges from approximately one hundred thousand to one million pieces of coins produced. Therefore, it is necessary to pay enough attention to the service life of coining dies. Surface treatment in the form of the application of hard PVD coatings is one of the ways of increasing the durability of coining die.In the present study, we analysed and tested three types of coatings deposited onto coining dies made of tool steel.

Accounting for the production of coins: The enactment and implementation of the Spanish Ordinances of the Mints, 1730

Critical accounting history literature has been scant on the role played by accounting in government coinage policy and its implications for governmental discourse. For this reason, we have examined the implementation of the Spanish Ordinances of the Mints enacted in 1730 and its accounting implications. This analysis allows us to observe the influence of accounting procedures over the government’s monetary policy. We aim to contribute to the literature a new perspective on the role of accounting in governmental and state policies, far beyond the improvement of state income, and concerned more with ensuring the value of the coins and thereby improving commercial activity and the economy in general.

The Master of the Royal Mint: How Much Money did Isaac Newton Save Britain?

Summary From the extant statistical data, the paper reconstructs several episodes in the history of the Royal Mint during Isaac Newton’s tenure. We discuss four types of uncertainty that are embedded in the production of coins, extending Stephen Stigler’s work in several directions. The jury verdicts in trials of the pyx for 1696–1727 allow judgement on the impartiality of the jury at the trials. The verdicts, together with several remarks by Newton in his correspondence with the Treasury, allow us to estimate the standard deviation σ in weights of individual guineas coined before and during Newton’s Mastership. This parameter, in turn, permits us to estimate the amount of money that Newton saved Britain after he put a stop to the illegal practice by goldsmiths and bankers of culling heavy guineas from circulation and recoining them to their advantage; a conservative estimate of savings to the Crown is £41510, and possibly three times as much. The procedure by which Newton probably improved coinage gives historical insight on how important statistical notions—standard deviation and sampling—came to the forefront in practical matters: the former as a measure of variation of weights of coins, and the latter as a test of several coins to evaluate the quality of the entire population. Newton can be credited with the formal introduction of testing a small sample of coins, a pound in weight, in the trials of the pyx from 1707 onwards, effectively reducing the size of admissible error. Even Newton’s ‘cooling law’ could have been contrived for the purpose of reducing variation in the weight of coins during initial stages of the minting process. Three open questions are posed in the conclusion.

Three Centuries of Eastern European and Altai Lead Emissions Recorded in a Belukha Ice Core

Human activities have significantly altered atmospheric Pb concentrations and thus, its geochemical cycle, for thousands of years. Whereas historical Pb emissions from Western Europe, North America, and Asia are well documented, there is no equivalent data for Eastern Europe. Here, we present ice-core Pb concentrations for the period 1680-1995 from Belukha glacier in the Siberian Altai, assumed to be representative of emissions in Eastern Europe and the Altai. Pb concentrations and (207)Pb/(206)Pb ratios were strongly enhanced during the period 1935-1995 due to the use of Pb additives in Russian gasoline mined in the Rudny Altai. Comparable to Western Europe and North America, Eastern European Pb emissions peaked in the 1970s. However, the subsequent downward trend in Eastern Europe was mainly caused by the economic crisis in the U.S.S.R. and not by a phase-out of leaded gasoline. Pb concentrations in the period 1680-1935, preceding the era of intensified industrialization in Russia, reflect the history of local emissions from Rudny Altai mining and related metallurgical processing primarily for the production of Russian coins. During this time, Altai ore Pb contributed about 40% of the regional atmospheric Pb.

Religious Symbols on Early Christian Scandinavian Coins (ca. 995–1050): From Imitation to Adaptation

This article discusses the adaptation of Christian symbols derived from Anglo-Saxon, German, and Byzantine numismatic traditions in early Scandinavian coins produced in the first half of the eleventh century. It analyzes a few particular cases of such borrowings (the Agnus Dei, triquetra, and enthroned Christ) by placing them in specific political, religious, and cultural contexts that made foreign symbols both expected and meaningful in early Christian Scandinavian society. These case studies of numismatic imitations demonstrate that the people involved in the production of such coins were able not only to appropriate numismatic prototypes coming from abroad but also to adapt them to specific local contexts. Such thoughtful adaptation allowed Christian numismatic imagery to communicate effectively political and religious messages significant for Scandinavian kings and their bishops.

L’apport de l’expérimentation paléométallurgique dans une discussion technique

During the excavations of the second royal mint in La Rochelle (France), an important quantity of material related to the production of coins was brought to light. This corpus has been the subject of a technical study in order to determine the manufacturing process of coins in the 16th century. With this research some experiments were conducted on the paleometallurgical platform in Melle and in a laboratory too. The purpose of this paper is to present the advantages of this kind of approach and illustrate them with some examples taken from our study of the minting technics.

Characterizations of silver alloys used in modern Mexican coins

This paper presents a complete methodology for the characterization of silver alloys used in modern coin production. Mexican coins with a nominal silver concentration from 10% to 99.99% were used in this study. Calibrated Glow Discharge Optical Emission Spectrometers were used to determine the chemical composition of the alloys as a function of the depth, while inductively coupled plasma was used to determine the total element composition in bulk. Scanning Electron Microscope was used to study the phase distributions in the different silver coins. According to Glow Discharge Optical Emission Spectrometers and inductively coupled plasma, the silver content found in the studied samples was consistently greater than that of the nominal silver content reported by the Mexican mint. This may lead to a review of the new methods of analysis used nowadays in contemporary coin minting. This result is very important because silver is increasing in value as metal and, considering the volume of production of silver coins, this may increase further as a consequence of a growing popular confidence in silver currency. In the case of silver studies, an advantage of the absence of silver detector in the Glow Discharge Optical Emission Spectrometers system is that it allows for the recalibration to have a better range of detection of other metals present in the alloys. A calibration curve using the copper content obtained by inductively coupled plasma (bulk) and Glow Discharge Optical Emission Spectrometers (depth profile) was performed. The relevance of control in modern silver coin minting was clarified, especially in minimizing the discrepancy between the nominal and the core fineness. The physical and chemical properties of the alloys studied are defined, revealing important variations in silver and copper contents. A new methodology and metrology for the control of coinage are suggested.

The selection of royal figures in the image of power during the Palaiologan epoch: Byzantium - Serbia - Bulgaria

The selection of royal figures in the image of power during the Palaiologan epoch: Byzantium - Serbia - Bulgaria

Micro-Adhesion in the Coining Process. Bluing on Proof Silver Coins: What It Is and How to Remove It

Bluing on coins is a common phenomenon in proof coin manufacturing. Thousands of coin collectors use magnifying glasses, even microscopes, to observe coin bluing. If dissatisfied by the appearance of the coins, collectors will return the coins to the Mint. To remove the bluing on proof coins, continuous production must be stopped to polish or clean the die on a press. If the blanks are not prepared in good condition, the time to polish a pair of dies exceeds the time for stamping coins. This paper analyzes the cause of bluing on coins, reveals notable tribological principles in the coining process, and suggests methods to remove the bluing without manually polishing the die. Therefore, more efficient production of proof coins can be achieved.

Niobium as mint metal: Production–properties–processing

For application as coin metal the used materials must be able to meet the demands in a wide range. This paper describes the selection criteria for coin metals and gives an overview about the quality and production requirements needed for special collector coins. Niobium was selected as core metal for a special 25 Euro bi-metallic coin collectors series issued by the Austrian Mint. As counterpart Silver is used as surrounding metal. A special feature of this bi-metallic coin is the use of coloured niobium inserts. The combination of these materials with distinctly different material properties, especially the deformation behaviour, and the use of the coloured niobium insert makes an adaptation of production parameters and manufacturing philosophy necessary. Beside a general overview about the properties and applications of niobium the paper describes the experience gathered during production of the bi-metallic coins.

Material Culture and Cultural Materialisms in the Middle Ages and Renaissance (review)

266 Reviews here - and the editors leave it unexplained - is what, in this interpretation, close would mean, which surely is a verb depending on does (not a noun meaning 'enclosed place', as the reference is to what is revealed). The structure 'does... show's' is inherently forced and un-English. Something needs to be said about the handling of Marvell's prosody in this text. It is regularly obscured and violated. Conventionally, 1. 44 of 'To His Coy Mistress' has contained 'Thorough the iron grates of life', not 'Through...'. 'Thorough' is essential, not optional, as w e need eight syllables within the overall prosodic scheme, and the line as it has come down to us not only has those syllables, but appropriately starts with a 'weak' one. Nor are the editors consistent about the matter, for in the 'Horatian Ode' they correctly have 'through' in 1. 11, but 'thorough' in 1. 15. The 1681 text - which the editors unjustly consider 'corrupt' (p. xix) - is most punctilious about matters like this. This is not least the case with respect to syllabic versus non-syllabic ed as a verbal ending. Thus, in the 'Horatian Ode', for example, w e should have, as modernised forms, 'armed' in 1. 55 and 'forced' in 1. 66, not 'armed' and 'forced', which m o d e m readers will automatically, but wrongly, pronounce as monosyllables. D maintains distinctions like this religiously, and similarly precisely prints e.g. 'flow'rs' in line 7 of 'The Garden' where Ormerod and Wortham have 'flowers'. In short, then, this is an edition of a very uneven nature. Much of i t is very distinguished, but one hopes the editors will thoroughly revise the text of the poems for a future reprint. Joost Daalder Department ofEnglish Flinders University Perry, Curtis, ed., Material Culture and Cultural Materialisms in the Middl Ages and Renaissance (Arizona Studies in the Middle Ages and the Renaissance 5), Turnhout, Brepols, 2001; paper; pp. xxiv, 246; 16 b/w illustrations; R R P EUR50.00; ISBN 2503510744. In the words of its editor Curtis Perry, this collection of essays marks a to the hard facts ofmaterial culture in order to critique and revise received critical paradigms' (p. x). By 'hard facts' Perry seems to mean that most of these essays call on a world of things that can be touched and seen as a means of understanding that Reviews 267 which cannot - the imagined world of ideas so central to more traditional critical modes. Overall, the essays assembled here do substantiate this claim while also presenting several different 'materialisms' that collectively challenge the assumptions of existing critical practice. Despite a plurality of approaches and a broad chronology, there is an undeniable sense of cohesion here. What unifies the collection is the willingness of its various authors to openly confront the challenges faced by materialist criticism. Identifiable in almost every essay is the issue of h o w to account for cultural production on the basis offinancial,property, labour and class issues, prior to the ascendancy of widespread capitalism. These concerns come together wonderfully in Alan M . Stahl's essay 'The Venetian Mint in the Age of the Black Death'. Stahl offers an interesting account ofhow civic policing in medieval Italy coped when material realities impacted on the day-to-day functioning of the state. In this case, Stahl examines h o w the Venetian council managed to keep a steady, manageable production ofcoins going in the face ofa plague-induced labour shortage. O f central concern to Stahl is to draw attention to the materiality of money itself, as opposed to the abstract terms in which we usually refer to it, because of its omnipresent status as a system of valuation in our world. Stahl's essay is complemented by Joerg O. Fichte's '"For coueitise after cros; the crown staut in golde": M o n e y as Matter and Metaphor in Piers Plowman'. Fichte too draws attention to money as a material object, which in rum helps uncover its true significance as metaphor in Piers Plowman. Fichte emphasises the increasing importance of money in successive revisions of the poem. The overall effect is a clear exposition...

A FISCAL THEORY OF GOVERNMENT'S ROLE IN MONEY

As an alternative to market failure explanations, we draw on theory and historical evidence to argue that fiscal considerations explain the roles governments typically play in producing and regulating money. Public monopoly production of coins and banknotes, substitution offiat for commodity standards, and restrictions on substitutes for government money all generate revenue and especially provide means for meeting fiscal emergencies. We argue that these arrangements do not reflect conscious design so much as the evolutionary survival of the fiscally advantageous. (JEL E5, E6, H1, N1)