“The Wear of English Coins”
More than eleven thousand pounds sterling worth of silver is wasted every year in the course of the circulation of crowns, half-crowns, florins, shillings, and sixpences. One hundred sovereigns of the date of 1820, which were weighed in 1859 by Mr. Miller, showed a loss in weight through the wear of circulation which was estimated at £1 6s. 7d. There is, therefore, more waste produced in the circulation of gold and silver coins than is generally thought of. …
Mr. Miller some years ago made a number of precise experiments, from which it was ascertained that £100 worth of sovereigns lost £3 9s. 8.4d. of their value in a hundred years; similarly £100 worth of half-crowns lost £13 11s. 8.8d.; £100 worth of shillings, £36 14s. 3.1d.; and £100 worth of sixpences lost £50 18s. 9.8d. in value, or more than one-half in the hundred years.
– The World of Wonders, 1883
