Initially, the value of the coin was equal to the amount of metal that they contain. And the scammers are often cut the money from the edges, collecting gold and silver. To overcome this was incredibly difficult, because not everyone with a wore scales, and eyes to determine exactly was General.
Oddly enough, the solution to this problem was proposed by the famous sir Isaac Newton, who it turns out was also an officer of the British Royal mint. He proposed to do on the edges of the coins fine notches, which are ground off the edges were immediately noticeable. This procedure is performed to this day, although the need for it has disappeared. Because counterfeiting banknotes is much more profitable and easier. And the edge of the coin since that is the edge from English - old English gyrdan (belting).
In the second half of the XVI century, the French invented a device for applying on the edge labels. The first inscription appeared on French gold ECUs in 1577.
Author:
Overlook
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