A Select Collection of Scarce and Valuable Tracts on Money
Why coins and plate have alloy.
19th Century John Ramsay McCulloch (ed.) English- As the alloy mixed with silver and gold, is reckoned of no value; it may be asked, why any alloy is put into coins, and plate? The reasons are these: 1. It is seldom or ever, that silver or gold, are found pure in the mines; and the trouble of refining to make them so, would be very great and expensive: And 2. a certain proportion of alloy, renders these metals harder, and fitter for the uses to which they are commonly applied. The standard of about 11/12 fine, is very convenient: For, if it be much coarser, both silver and gold will lose of their colour, beauty and ductility; and if the standard be much finer; those metals will be too soft for many purposes, and a great expence of refining will be unavoidable.