Mathematics on coins, part I: The Tale of Two Queens and Two Towering Figures

TL;DR

This paper explores the historical contributions of Nicolaus Copernicus and Sir Isaac Newton to coinage theory and practice, highlighting their roles in shaping monetary systems and coin reforms.

Contribution

It introduces a series examining mathematics on coins, focusing on Copernicus and Newton's impact on coinage theory and reforms in a historical context.

Findings

Copernicus proposed laws governing competition between money.

Newton oversaw the Great Recoinage of 1696.

Both scientists contributed significantly to coinage theory and practice.

Abstract

In the first article in the series examining mathematics on coins, we discuss two great scientists who are not only featured on many coins, but also contributed to both theory and practice of coinage. The first one is Nicolaus Copernicus, author of the treaty \emph{Monetae cudendae ratio} in which he proposed the law governing competition between money and proposed reform of coinage in the Royal Prussia. The second one is Sir Isaac Newton, warden and Master of the Royal Mint, and overseer of the Great Recoinage of 1696.