The Effect of Circulation Upon the Weight of Metal Currency
As DDK says in his autobiographical note (see Chap. 2), he took up this problem as a way of learning statistics. Since examination marks provided poor quality data, he turned to the statistical study of punch-marked coins. He noted that “not all coins issued at the same time are used in exactly the same manner. Therefore, the effect of circulation is to decrease the average weight but also to increase the variation”. A side effect was that he became more aware of the sociology of the process: these years at Fergusson College were to see his interest in the other aspects grow, as he brought experimental tools, the careful weighing of thousands of coins, to make numismatics “a science rather than a branch of epigraphy and archaeology”.
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