Mint engravers alone are permitted to make medals bearing the monarch's image, but such work undertaken for the Crown is quite separate from their Mint duties. These consist solely in making stamps for coins and medals ordered by the government, which are then struck by moneyers. Newton does not, however, disapprove of engravers being allowed to make other medals privately, but suggests they should be required to mark their name or initials on them to distinguish them from Mint pieces. Such work is 'an encouragement to them to improve themselves and to be content with less salaries'.

On reverse: Treasury note dated 16 October 1704: 'My Lord will speak wth the Officers of the Mint'.

Date added in Newton's hand.

Printed in NC, 4: 419-20.