Coin wear: A power law for small shocks

Arnaud Manas and Francois Velde ()

Physica A: Statistical Mechanics and its Applications, 2021, vol. 574, issue C

Abstract: The study of coin wear is useful for numismatics and economics. We examine a 19th century gold coin with a SEM and show that weight loss is due to a large number of small shocks that follow a truncated power law. Under the compound Poisson process we propose, weight loss over time is nearly deterministic in the proportion of time actually spent in circulation.

Keywords: Coin wear; Abrasion; Power law; Gold napoleon (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:574:y:2021:i:c:s037843712100220x

DOI: 10.1016/j.physa.2021.125948

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