Memoranda on costings for copper coinage

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If Copper be mixed with any other base metall or semi-metall it will not endure the hammer when red hot but fly in pieces. So soon as it is refined by the Copper-workers dto that degree as to be purged from all other base metalls, it begins to endure the hammer hen red h{illeg}ot & to be worth about 98 or 100li per Tunn; & such copper they call fine copper. For making Copper Vessels they refine it a littl{illeg}e higher, & for drawing into wyer they refine it still higher. But for money it suffices to refine it till it begins to beare the ha{illeg}mmer when red hot. They that work in copper can readily judge of the fineness also by breaking off a little piece & observing the grain & colour where it breaks. There is also a way of assaying copper by separating the other base metalls from it, but the assay by the hammer I reccon sufficient for the Mint. For it will be proper for the Master & Worker not to receive course copper & put it out to refine as is done in gold & silver, but only to receive it when refined to the degree above mentioned.

In the reign of King Charles II a pound weight of Swedish copper was cut into 20d. The copper & making the blanks cost 1{illeg}8d the stamping {illeg}1d, & a penny remained for other charges.

A pound weight of fine English copper such as will endure the assay above mentioned will cost 10$\frac{\mathrm{1}}{\mathrm{2}}$d or 10$\frac{\mathrm{3}}{\mathrm{4}}$d, & the coynage will cost 5$\frac{\mathrm{1}}{\mathrm{2}}$ or 5$\frac{\mathrm{3}}{\mathrm{4}}$ including the work of the Smith & Graver: so that the whosle charge of copper & coynage will scarce exceed 16$\frac{\mathrm{1}}{\mathrm{2}}$d per pound weight averdupoise. And if the same be edged the edging will cost a penny more. And if a pound weight not edged be cut into 19d, or a pound weight edged be cut int{illeg}o 20d, there will remain 2$\frac{\mathrm{1}}{\mathrm{2}}$d per pound weight for purchasing Mills & Presses & setting up a copper Mint, & paying Clerks & incident charges of assaying, weighing, telling, porterage, putting off, &c

The Mills & Presses & other Engines for setting up a copper Mint will cost six or seven hundred pounds. And three farthings per p{illeg}ound weight in coy{illeg}ning an hundred tunns will pay that charge. And when a copper Mint is set up, a pound weight of copper may be cut int{illeg}o 18$\frac{\mathrm{1}}{\mathrm{2}}$d or 18d not edged, or a penny more if edged.

The weight of all the copper received, & the weight & ta{illeg}le of all the copper money coined may be entred in books & in the Master & Workers account, & the surplus above all charges may be paid into the Exchequer.