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Updated: September 15, 2025
There were in the treasury 17,410 Roman pounds of gold, 22,070 pounds of uncoined, and 18,230 pounds of coined, silver. The legal ratio of gold to silver was: 1 pound of gold = 4000 sesterces, or 1: 11.91. On this was based the actionable character of contracts of buying, hiring, and partnership, and, in general, the whole system of non-formal actionable contracts.
Coined gold and silver would be more valuable than uncoined. The seignorage, if it was not exorbitant, would add to the bullion the whole value of the duty; because, the government having everywhere the exclusive privilege of coining, no coin can come to market cheaper than they think proper to afford it.
Whether the acceptance of Roman silver money was not even at an earlier period obligatory throughout the empire, is uncertain; at any rate uncoined gold essentially supplied the place of imperial money throughout the Roman territory, the more so as the Romans had prohibited the coining of gold in all the provinces and client- states, and the -denarius- had, in addition to Italy, de jure or de facto naturalized itself in Cisalpine Gaul, in Sicily, in Spain and various other places, especially in the west. but the imperial coinage begins with Caesar.
Samuel Kiechel, a merchant of Ulm, who was in London in 1585, records that, "news arrived of a Spanish ship captured by Drake, in which it was said there were two millions of uncoined gold and silver in ingots, fifty thousand crowns in coined reals, seven thousand hides, four chests of pearls, each containing two bushels, and some sacks of cochineal the whole valued at twenty-five barrels of gold; it was said to be one year and a half's tribute from Peru."
Wealth in its rudest form of sacks of uncoined gold dust rules the hour. The spring days lengthen into summer. Maxime Valois recoils from the physical toil of the rocky bars of the American. His nature is aristocratic; his youthful prejudices are averse to hand work. Menial attendance, though only upon himself, is degrading to him. The rough life of the mines becomes unbearable.
I uncoined your last order by putting it into the fire, having already supplied myself. About the middle of his Oxford career, a studentship fell vacant, which, according to the strange system then prevalent, was in the gift of Dr. Bull, one of the Canons of Christ Church. Instead of bestowing it, as was too commonly done, on grounds of private interest, Dr.
But if forty-four guineas and a-half, containing their full standard weight, a pound weight of gold, could purchase very little more than a pound weight of uncoined gold; forty-four guineas and a-half, wanting a part of their weight, could not purchase a pound weight, and something was to be added, in order to make up the deficiency.
Great as is the goodness which He has 'wrought before the sons of men for them that trust in Him, there are far greater treasures of goodness 'laid up' in the deep mines of God 'for them that fear Him. Bars of uncoined treasure and ingots of massy gold lie in His storehouses, to be put into circulation as soon as we need, and can use, them.
There was also a letter of my partner's, congratulating me very affectionately upon my being alive; giving me an account how the estate was improved, and what it produced a year, with a particular of the number of squares or acres that it contained; how planted, how many slaves there were upon it, and making two and twenty crosses for blessings, told me he had said so many Ave Marias to thank the Blessed Virgin that I was alive; inviting me very passionately to come over and take possession of my own; and in the mean time to give him orders to whom he should deliver my effects, if I did not come my self; concluding with a hearty tender of his friendship, and that of his family, and sent me, as a present, seven fine leopard's skins, which he had it seems received from Africa, by some other ship which he had sent thither, and who it seems had made a better voyage than I: he sent me also five chests of excellent sweetmeats, and an hundred pieces of gold uncoined, not quite so large as moidores.
We took the spice, but meddled with very little of the European goods, they being, as we thought, not worth our while; but we were very sorry for it soon after, and therefore grew wiser upon the next occasion. The third Japanese was the best prize to us; for he came with money, and a great deal of gold uncoined, to buy such goods as we mentioned above.
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