Front Page Titles (by Subject) English Bronze Coinage. - Money and the Mechanism of Exchange
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English Bronze Coinage. - William Stanley Jevons, Money and the Mechanism of Exchange 
Money and the Mechanism of Exchange (New York: D. Appleton and Co. 1876).
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English Bronze Coinage.
The final subdivision of the pound is effected by bronze pence, halfpence, and farthings, of which the weights when issued should be respectively 145.833, 87.500, and 43.750 grains. They are composed of an alloy of 95 parts by weight of copper, four parts of tin, and one part of zinc, being exactly the same kind of bronze as was previously employed by the French mints. The remedy in weight is one-fifth of one per cent., and as the coins are token money there is no least current weight. As the reasons against allowing them to be a legal tender for large sums are stronger than in the case of silver coin, it is enacted that bronze coins shall be a legal tender only to an aggregate amount of one shilling.
If a copper penny were now made to contain metal equivalent in value to the 240th part of a sovereign, its weight would be 871 grains, at the present market price of copper (£75 per ton). Thus the fractional coinage has been reduced in weight nearly to one-sixth part of what it would be as standard copper coin. The bronze of which the pence are made is worth, according to Mr. Seyd, 10d. per troy pound, so that the metallic values of the coins are almost exactly one-fourth part of their nominal values. A considerable profit therefore accrues upon the coinage of bronze, amounting up to the end of 1871 to about £270,000; but the reduction of weight is altogether an advantage, and is probably not carried as far as it might properly be done.