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Formerly, the master coined 62s. from every pound weight of silver brought into the Mint, and paid 60s. to the supplier and 2s. to the Crown. If at the pyx trial a pound weight of coin was not found exactly equal to 62s., any surplus had to be paid by the master to the Crown, and any deficit was restored by the Crown to the master. Since the last Coinage Act this system has been changed and the full 62s. is to be paid to the suppliers: nevertheless, the statute relating to the mutual liability of master and Crown remains in force. Newton queries this anomaly.
On reverse, in another hand: fragment on Norwich coinage.
Related Material
Another draft at MINT00262 (Mint 19/2/627).