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Updated: May 3, 2025


Copper prepared for the coinage at his Majesty's Mint at the Tower of London, costs per pound weight 1 6 Coinage of one pound weight 3-1/2 Waste and charge of re-melting 1 Yearly payment to the Exchequer and Comptroller 1 Allowed to the purchaser for exchange, &c. 5 Total charge 2 4-1/2 "So that the patentee," he concludes, "makes a profit of only 1-1/2d. in the half crown or about 5%."

In the heap of broken metal lay an old cast-iron field-piece, a relic of the battle which had one day raged hotly on the hillside across the creek. A hundred times the iron-master had been on the point of breaking it up for re-melting, and as often the old artilleryman in him had stayed his hand.

It separates on cooling, from the liquid oil, in crystalline flakes, forming great masses, which are purified by re-melting and cooling. In early times the fine waxy, flaky material thus obtained was known in samples of a few ounces, and sold by apothecaries. It was known that it came from a whale, and was believed to be the seed or sperm of that animal, hence its name "spermaceti."

Roger of Salisbury, in fact, when placed at the head of the Exchequer, found a great difference between the weight and the actual value of the coin received. He fell back on a simple expedient; in many places there had been a provision as old at least as Doomsday, which enacted that the money weighed out for town-geld should if needful be tested by re-melting.

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