Recoinage sentence example
- Currency.The lira (plural lire) of 100 centesimi (centimes) is equal in value to the French franc. The total coinage (exclusive of Eritrean currency) from the 1st of January 1862 to the end of 1907 was 1,104,667,116 lire (exclusive of recoinage), divided as follows: gold, 427,516,970 lire; silver, 570,097,025 lire; nickel, 23,417,000 lire; bronze, 83,636,121 lire.
- In return, the Mint receives at its nominal value for recoinage the worn gold and silver coin which is withdrawn from circulation by the Bank of England and some other banks.
- In spite of the cost of this recoinage, however, the profit on the issue of new silver and bronze usually exceeds in each year the total expenditure of the Mint.
- He had previously consulted Newton upon the subject of the recoinage, and on the opportunity occurring he appointed Newton to the post of warden of the mint.
- Newton's chemical and mathematical knowledge proved of great use in carrying out the recoinage.Advertisement