Charles Francis Bastable, Encyclopædia Britannica, Ninth Edition (1883)
“ It is impossible, however, to agree with Tooke that uncoined bullion would be higher in value than coin when a seigniorage is charged on the latter. He seems to ignore the fact that the value of the precious metals is partly dependent on their use as currency, and that the seigniorage represents a tax levied on the extra value resulting from the use of the metal as money. ”
