'An Account of the Scotch money'

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An Account of the Scotch money.

The Scots ever since a treaty between them and the English in order to a union in the reigh {sic} of K. Iames ye 1st have coyned their silver monies of the same standard with the English, vizt 11 ounces 2 penny weight fine & eighteen penny weight {illeg}allay. For wch end they have indented trial pieces sent from hence of the same placte with those made for the English Mint. The standard Troy weights by wch they coyne are also made at or Mint at ye same time with ors by common consen{illeg}t of both Mints and our pound Troy is greater then theirs by four penny weight and nine grains of ours. {sic}. And {illeg}as we divide or ounce Troy into {illeg}62 pence so they divide their ounce Troy into 62 shillings (for their shillings in this recconing answer to or pence) excepting that they make their money lighter by four in consideration of the charge of coynage and to prevent the melting down of their money, they make their money lighter by four shillings in the pound wei sixty (as I am informed:) so that 60 shillings of their money are to their ounce Troy as 56 to 62 or 28 to 31 and by consequence ought to weigh 4252031 grains (or 17dwt 172031gr) of our pound Troy (as I find by triall they do) & to be worth 55 {illeg}English pence wanting the the {sic} 48th part of a penny. The experiments we have made of the weight & fineness of their money are as follows.

Pieces coyned Date Kings reign Fineness Weight Value
sgr sd
A two-Mark piece 1673 Cha: II Worse vijdwt 175 1.978
A Mark piece Cha: II Worse vij 86 0.1034
Another Roettiers 1675 Cha: II Worse ij 102 1.
A half Mark piece 61665 Cha: II Worse iij ob 42   0.514
A three pound piece 1681 Cha II Worse iiij 416 4.434
Another — 1682 Cha II Worse iij 425 4.616
Another — 1691 Wm & Ma. sta. 425 4.6910
A forty shillings piece 1687 Iac. II not assayed 284
Another — 1688 Iac II sta 283 3.012
Another — 1689 Wm & Ma sta 284 3.023
Another — 1694 Wm & Ma sta 284 3.023
Another — 1695 Wm sta: scant 284 3.023
Another — 1695 Wm Worse iij 283 3.0
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Another Gul 291669 sta. 284 53.{illeg}023
Another Gul 1696 worse ij 283 3.016
A twenty shillings piece Gul 1695 sta. 142 1.613
Another Gul 16965 sta. 142 1.613
Another Gul 1696 sta. scant 142 1.613
A ten shillings piece Ia. II 1687 sta 71 0.916
Another Iac. II sta 71 0.916
Another Gul 1695 not assayd 71 ✱.
Another Gul 1695 sta 71 0.916
Another Gul 1695 sta 68 0.834
A five shillings piece Gul wors {sic} 1dwt 35 0.412

The two Mark the Mark and the half Mark pieces coyned before the year 1675 are bad work & c{illeg}onsiderably coarser then standard: for which reason they were called in neare the end of that reign and are no longer current.

The sixty, forty twenty ten & five shillings-pieces coyned since are better money & make up the bulk of the money wch now (viz anno 1697) comes out of Scotland. Those coyned in the reigns of King Iames & King William are well sized. Most of their money here examined is standard none too fine some too coarse so that one piece wth another it may be recconed above an half penny weight worse then standard.

The Scots now pay their shillings for our pence in the borders of Scotland & putt off or crown pieces for 65 & sometimes 66 of their shillings in Scotland (as I am credibly informed:) wch being an advantage of 8 or 10 per cent has filled the borders of England with their money and Scotland with ours. And the carrying on of this trade hath or might have in time prompted them to melt down our money had not & carry it to their Mint had not or enquiry into this matter now put an end to it by the Lords of ye Treary ordering the LordsReceivers to refuse their money.

If the Scotch money were all coyned of a just weight & Allay 11s 9d of such money would be worth 10d34 of ors. But considering that some pieces of their money are too light & others too course & that their money is more easily counterfeiters then ors, we may receive their 10s pieces for nine pences & their 45s pieces for four pence halfpennies & their Mark & half mark pieces (when ever they shall coyne any more) for shillings & six pences, and <3r> so proportionally of their other pieces of money. For these are round recconings fit for use and approach the true value of their money most neary {sic}.