Front Page Titles (by Subject) Weight of the Currency. - Money and the Mechanism of Exchange
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Weight of the Currency. - 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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Weight of the Currency.
It is curious that the weights of the several kinds of currency vary inversely as their nominal values; thus, taking the paper circulation of the United Kingdom at 40 millions, the gold roughly at 100 millions, the silver at 15 millions, and the bronze as above, I find the weights to be approximately as follows:—
It is impossible to give a satisfactory reason why the least valuable part of the currency should be so much the most weighty. A tendency thus arises for the pence to accumulate upon the hands of retail traders, especially publicans, omnibus proprietors, and newspaper publishers. At one time the London brewers had such large quantities of bronze coins thrown upon their hands from the public-houses which they own, that the mint had eventually to arrange to buy it from them, instead of coining more. In large towns, arrangements have to be made for getting rid of the accumulating pence with the least trouble and loss; the coin is transferred weekly to mills and factories, where it is used in paying wages. Bankers refuse to have anything to do with bronze coin beyond the amount of a shilling, for which it is legal tender, and it is usual for persons to object to receive more than 2d. or 3d. of change in pence.
It is worthy of inquiry whether this tendency of the fractional currency to stagnation would not be remedied by the substitution of a much lighter and more elegant currency of nickel, or of some alloy yet to be invented. In France, it is found that the bronze coinage circulates much more freely than the old copper and bell-metal sons, which tended to accumulate in certain localities. Our bronze pence are much better than the old copper pence, but it does not follow that we have in any degree approximated to perfection. Coins of about half the weight of those in circulation would be much more convenient.