the coin to be acquired depending on the individual's wealth. The
owners were not allowed to use these pieces in everyday trade, but
could pawn them in case of dire need. They were expected to produce
them at any time upon demand. Thus a means of hoarding, a "treasure
piece," was created, and the risk of draining the country's wealth
through replacement of good, full-weight silver coins with imported
base currency was to some extent limited. At the same time, the Duke
had a considerable sum of money at his disposal in case of
emergency.

Similar Loesers were issued up to 1688 by different rulers of
Brunswick. Some of the later issues are commemorative in character
and might have served for presentation purposes. The workmanship of
the majority is exquisite. They portray personages real and ideal
and ornate coats of arms, in addition to the elaborate mining
landscapes shown here. The U. S. National Museum is fortunate in
having a number of examples through the generosity of Mr. Paul A.
Straub.

For calling my attention to these coins, and for other invaluable
assistance, I am indebted to the former curator of the numismatic
collections of the U. S. National Museum, the late Stuart Mosher,
and to the present curator, Dr. V. Clain-Stefanelli.

Figure 1 shows an overshot waterwheel driving through Stangenkunsten
pumps in three separate shafts, each covered by the typical conical
shaft house. It is possible that these shaft houses also cover horse
whims used to operate bucket hoists such as that shown in the lower
center. A house with three chimneys in the background may be the
smelter. The horse over whose head the Deity holds a wreath is a
symbol of Luneberg.

For a detailed description of the mechanical equipment of this era we
are largely indebted to Agricola. He classifies hauling machines into
four types; the ordinary bucket windlass, the piston (suction) pump, the
chain of dippers, and the rag and chain pump. Although the first three
had been known in antiquity, and the last perhaps a century before his
time,[6] their use in mining would appear to date from the mid-14th
century or later. His is not an historical account, and one who attempts
to compare it with others of contemporary or later times encounters a
difficulty in his use of descriptive Latin names rather than the common
German names used by most