Report on the assay and weighing of five new denominations of Portuguese gold coin and recommendation of the values they should pass at in Ireland

<229r>

To the right honble the Lords Commissioners of his Majties Treasury.

May it please yor Lordps

In obedience to yor Lordps Order of Reference of Sept. 23, 1725, that we should cause the weight & assay of five sorts of new Portugal gold coins to be taken, & report the same to yor Lordps, with our opinion at what value they may reasonably go in Ireland in case his Maty should think fit to make them current there by Proclamations. We have caused five pieces of the said gold coynes, one of each sort, new out of the Portugal Mint, to be weighed & assayed. And they proved as follows.

Pieces	{illeg}Weights			Assays
	oz	dwt	gr
1	0.	1.	3	sta. weak
2	0.	2.	8	sta. strong
3	0.	4.	15	sta. weak
4	0.	9.	5	sta strong
5	0.	18.	9	standard

By these assays the coyn is standard, & by the weights of the pieces the five species are in the progression 1, 2, 4, 8, 16 in weight. The pieces of the biggest species weighing 18dwt 9gr are worth 3li. 11s. 8d each as they come fresh out of the mintsupposing a Guinea to be worth 1li. 1s.. And according to this valuation, the next in bigness are worth 1li. 15s. 10d each; the middlemost are worth 17s 11d each; the least but one are worth nine shillings each abating an halfpenny; & the least are worth 4s 6d each abating a farthing. These are their values in England when the one with another when they come fresh out of the Portugal Mint: bBut the Merchants are apt to pick out the lightest pieces for Ireland, & send the heaviest pieces to the melting pot. And those pieces wch are full weight when they come fresh out of the Mint, will soon grow lighter by wearing in Portugall before they come into Ireland. And the smallest pieces will weare fastest in proportion to their weight & value. And some abatement in the value ought to be made for theis lightness. If therefore this Portugal money is to be made current in Ireland, we are humbly of opinion that the biggest pieces should not be current for more then the value of three Guineas & the third part of a Guinea in Irelandor not for above 4 {illeg} pence more. The next in bigness may be current for half the value of the biggest: the middlemost for a quarter of that value: the least but one for the eighth part of that value: & the least for a sixteenth part of that value thereof, if these be not too little to be made current.

All wch is most humbly submitted to yor Lordps great wisdome