Milled coinage
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In numismatics, the term milled coinage (also known as machine-struck coinage) is used to describe coins which are produced by some form of machine, rather than by manually hammering coin blanks between two dies (hammered coinage) or casting coins from dies.
Introduction
Until 1550, coinage techniques used in European mints had not progressed from the
Leonardo da Vinci's notebooks showed there was a better way[2] and Donato Bramante, the architect who made the initial plans for St. Peter's Basilica, developed a screw press to make the lead bullae attached to Papal documents.[3] In 1550, the French ambassador to Augsburg, Charles de Marillac, saw a way for France to get an economic advantage over the Holy Roman Empire when he learned that a local engineer had perfected a mechanical process of rolling bullion to the required thickness, cutting blanks from the rolled metal, and striking coins from those blanks. This technology was significantly more advanced than the general manufacturing processes of the 16th century[4] making the coins difficult to counterfeit. The negotiations which obtained rights to the process for France were so secret that the inventor was identified with a codename, but he was most likely Marx Schwab. Aubin Olivier went to Augsburg to learn the technique and Henry II of France made him chief engineer of a mechanized mint in Paris, called the Moulin des Étuves, on 27 March 1551. This mint produced well-struck and perfectly round gold and silver coins. Having perfectly round coins made it easy to detect clipping, but the coiners' establishment would have none of this and within a decade the Moulin des Étuves' ex-employees were finding work in Navarre and England.[5]
In England, a 1560 proclamation of
Meanwhile, in continental Europe, France readopted machine made coins in 1639. Both machine-made and hammered coins continued through the recoinage of French silver in 1641, but by now machine-made coinage's time had come, and hammered French coinage ended in 1645. The Industrial Revolution shifted the focus of the economy from a rural to an urban, money based, enterprise.[12] The main technology of the Industrial Revolution, the Watt steam engine, also increased the overall level of economic activity.[13] Both of these factors increased the demand for money. Factories were financed by introducing paper money and credit, but low-denomination coins were required to pay their workers and in England copper coins were scarce.[14] Matthew Boulton had backed Watt's development of the steam engine, and he used it to power coin-making machinery at his Soho Manufactory.[15] Boulton struck coins for the East India Company, supplied steam powered coining machinery to the Moscow mint,[16] and manufactured private tokens which circulated widely in England.[14] In 1797, Boulton received a contract to strike royal British copper coins called cartwheels. In 1805, he received a further contract to supply steam powered coinage machinery when the British Royal Mint left the Tower of London and established a new facility on Little Tower Hill.[16]
When Spain introduced coinage to America in 1536, coins were still hammered. The fineness of the silver in this coinage was reduced in 1732 and the Mexico City mint began striking the new coins using machinery.Coins of the Industrial Revolution
In the Americas and East Asia
In modern practice in the United States, milling, or a milled edge, can refer to the raised edge on the coin face, applied by a special milling machine after the planchets are cut out and polished. In addition, the reeding of coins of higher value, applied by the collar holding the coin when it is stamped, can be considered part of the milled edge.[22][23]
See also
- Mint (facility)
- Reeding, also known as "milling"
References
Footnotes
- ^ Porteous (1969), p. 177.
- ^ Price (1980), p. 18.
- ^ Linecar (1971), p. 96.
- ^ de la Portilla & Ceccarelli (2011), p. 3.
- ^ Porteous (1969), pp. 178–180.
- ^ Porteous (1969), p. 181
- ^ Linecar (1971), pp. 98–88
- ^ Linecar (1971), p. 104.
- ^ Porteous (1969), p. 214.
- ^ Linecar (1971), p. 98.
- ^ de la Portilla & Ceccarelli (2011), p. 35.
- ^ Burke (1985), p. 193.
- ^ Burke (1985), p. 190.
- ^ a b Porteous (1969), p. 229.
- ^ Chisholm, Hugh, ed. (1911). . Encyclopædia Britannica. Vol. 4 (11th ed.). Cambridge University Press. p. 324.
- ^ a b Linecar (1971), p. 114.
- ^ Cribb, Cook & Carradice (1990), p. 291.
- ^ Yeoman (2007), p. 11.
- ^ Cribb, Cook & Carradice (1990), p. 215.
- ^ Cribb, Cook & Carradice (1990), p. 208.
- ^ Cribb, Cook & Carradice (1990), pp. 204–205.
- ^ Yeoman (1980), p. 5.
- ^ Grier (1898), p. 326.
Works cited
- Burke, James (1985). The Day The Universe Changed. Boston: Little, Brown. OCLC 12049817.
- Cribb, Joe; Cook, Barrie; Carradice, Ian (1990). The Coin Atlas. New York: Facts on File. OCLC 19456971.
- de la Portilla, J.M. & Ceccarelli, Marco, eds. (2011). History of Machines for Heritage Engineering Development. New York: Springer. OCLC 729875665.
- Grier, John A. (January–June 1898). "A Familiar Chat About Our Mints". Modern Machinery: A Monthly Journal of Mechanical Progress. 3. Chicago: Modern Machinery Publishing: 326. .
- Linecar, Howard (1971). Coins and Coin Collecting. Feltham, New York: Hamlyn. OCLC 667688.
- Porteous, John (1969). Coins In History. New York: Putnam. OCLC 44608.
- Price, Martin Jessop, ed. (1980). "The Nature of Coinage". Coins: An Illustrated Survey. New York: Methuen. OCLC 6194437.
- Yeoman, R. S. (1980). Bressett, Kenneth (ed.). 1981 Handbook of United States Coins with Premium List (38th ed.). Racine, Wisconsin: Western Publishing. OCLC 754090776.
- ——— (2007). ——— (ed.). A Guide Book of United States Coins (61st ed.). Atlanta: Whitman. OCLC 123445484.
External links
- Encyclopædia Britannica. Vol. 18 (11th ed.). 1911. .