ABSTRACT
Estimates were largely confined to attempts at estimating bank deposits and using these as proxies for money supply. Webber Sheppard's study of financial institutions, 1880-1962, was the first to present aggregate monetary data series for the UK over a long period. W. E. Beach was the first to attempt to analyse changes in the amount of coin in the late nineteenth century. He calculated figures for the annual changes in gold coin from the Royal Mint's data for the minting and withdrawal of coin, and the Board of Trade's figures for the recorded export and import of gold coin. W. E. Huffman and J. R. Lothian constructed a series for coin outstanding and comprised gold and silver coin only. Bordo's interpolation method accounts for net gold coin issues by the Mint and net imports of coin, but the quality of the data in relation to net imports can be improved.
