The same ingenious process is so easily applied to the coinage and colouring of false money, and also to the mixing of the metals of which it is composed, that it is not to be wondered at, that the avarice of man, urged by the prospect of immense profit, has occasioned that vast increase of counterfeit money of every description, with which the Country is at present deluged.
The false coinages which have been introduced into circulation, of late years, are Guineas, Half-Guineas and Seven Shilling Pieces, Crowns and Half-Crowns, Shillings, Sixpences, Pence, Halfpence, and Farthings, of the similitude of the coin of the realm: of foreign coin, Half Johannas, Louis d'ors, Spanish Dollars, French Half-Crowns, Shillings and Sixpences, 30 Sol pieces, Prussian and Danish Silver money, and other continental coins; to which may be added, Sequins of Turkey, and Pagodas of India. These foreign coins except in the instance of the Spanish Dollars[43] issued by the Bank of England in 1797, have generally been sold as articles of commerce for the purpose of being fraudulently circulated in the British Colonies or in Foreign Countries.
So dexterous and skilful have Coiners now become, that by mixing a certain proportion of pure gold with a compound of base metal, they can fabricate guineas that shall be full weight, and of such perfect workmanship as to elude a discovery, except by persons of skill; while the intrinsic value does not exceed thirteen or fourteen shillings, and in some instances is not more than eight or nine. Of this coinage considerable quantities were circulated some years since, bearing the impression of George the Second: and another coinage of counterfeit guineas of the year 1793, bearing the impression of his present Majesty, has been for some years in circulation, finished in a masterly manner, and nearly full weight, although the intrinsic value is not above eight shillings: half guineas are also in circulation of the same coinage: and lately a good imitation of the seven-shilling pieces. But as the fabrication of such coin requires a greater degree of skill and ingenuity than generally prevails, and also a greater capital than most coiners are able to command, it is to be hoped it has gone to no great extent; for amidst all the abuses which have prevailed of late years, it is unquestionably true, that the guineas and half-guineas which have been counterfeited in a style to elude detection, have borne no proportion in point of extent to the coinage of base Silver. Of this latter there are five different kinds at present counterfeited; and which we shall proceed to enumerate.
The first of these are denominated Flats, from the circumstance of this species of money being cut out of flatted plates, composed of a mixture of silver and blanched copper. The proportion of silver runs from one-fourth to one-third, and in some instances to even one-half: the metals are mixed by a chemical preparation, and afterwards rolled by flatting mills, into the thickness of shillings, half-crowns, or crowns, according to the desire of the parties who bring the copper and silver, which last is generally stolen plate. It is not known that there are at present above one or two rolling mills in London, although there are several in the Country, where all the dealers and coiners of this species of base money resort, for the purpose of having these plates prepared; from which, when finished, blanks or round pieces are cut out, of the sizes of the money meant to be counterfeited.
The artisans who stamp or coin these blanks into base money are seldom interested themselves. They generally work as mechanics for the large dealers who employ a capital in the trade;—and who furnish the plates, and pay about eight per cent. for the coinage, being at the rate of one penny for each shilling, and twopence-halfpenny for each half-crown.
This operation consists first in turning the blanks in a lathe;—then stamping them, by means of a press, with dies of the exact impression of the coin intended to be imitated:—they are afterwards rubbed with sandpaper and cork; then put into aquafortis to bring the silver to the surface; then rubbed with common salt; then with cream of tartar; then warmed in a shovel or similar machine before the fire; and last of all rubbed with blacking, to give the money the appearance of having been in circulation.
All these operations are so quickly performed, that two persons (a man and his wife for instance,) can completely finish to the nominal amount of fifty pounds in shillings and half-crowns in two days, by which they will earn each two guineas a day.
A shilling of this species, which exhibits nearly the appearance of what has been usually called a Birmingham shilling, is intrinsically worth from twopence to fourpence; and crowns and half-crowns are in the same proportion. The quantity made of this sort of counterfeit coinage is very considerable: it requires less ingenuity than any of the other methods of coining, though at the same time it is the most expensive, and of course the least profitable to the Dealer; who for the most part disposes of it to the utterers, vulgarly called Smashers, at from 28s. to 40s. for a guinea, according to the quality; while these Smashers generally manage to utter it again to the full import value.
The Second Species of counterfeit Silver money passes among the dealers by the denomination of Plated Goods; from the circumstance of the shillings and half-crowns being made of copper of a reduced size, and afterwards plated with silver, so extended as to form a rim round the edge. This coin is afterwards stamped with dies so as to resemble the real coin; and, from the circumstance of the surface being pure silver, is not easily discovered except by ringing the money on a table: but as this species of base money requires a knowledge of plating as well as a great deal of ingenuity, it is of course confined to few hands. It is however extremely profitable to those who carry it on, as it can generally be uttered, without detection, at its full import value.
The Third Species of base Silver-money is called Plain Goods, and is totally confined to shillings. These are made of copper blanks turned in a lathe, of the exact size of a Birmingham shilling, afterwards silvered over by a particular operation used in colouring metal buttons; they are then rubbed over with cream of tartar and blacking, after which they are fit for circulation.