THE 2026 VERDICT OF THE PYX

Earlier today, one of the City of London's more curious ceremonies reached its conclusion, as the King's Remembrancer formally announced that the Chancellor of the Exchequer, Rachel Reeves, would not be sent to jail.

The chancellor faced that possibility, as her role includes serving as Master of the Mint and ensuring that the coins are good and trustworthy. Each year, batches of the previous year's coins are tested for purity at the Trial of the Pyx. The trial opened in February, during which batches of coins were weighed and measured to assess basic compliance with the rules.

Although modern coins no longer contain precious metals of any meaningful value, the trial still matters because money depends on trust. As the Goldsmiths' Prime Warden observed during the proceedings, "in the world of AI, digital trickery and deepfakes, the trial is still testing whether what is said to be gold, is gold" – or, more practically, whether the cupronickel in your pocket really is the cupronickel it claims to be.

And after the trial began, some of the coins were also taken to the London Assay Office and subjected to metallurgical tests – ranging from X-rays to plasma beams, and even cupellation, a metallurgical process dating back to Roman times that separates precious metals from base metals.

The coins were duly tested and reports written, and at noon today, the Remembrancer returned to the City of London's Mansion House to deliver the verdict. With all the wigs, robes and ceremony on display, the Rembrancer observed that proceedings could at times feel closer to the Trial of the Knave of Hearts from Alice's Adventures in Wonderland than a modern quality-control exercise. Yet he used the occasion to underscore the continuing importance of cash in an uncertain world.

Observing that physical money continues to function during power cuts or internet outages, he noted that while many emergency preparedness guides recommend keeping cash at home, the UK government's own advice (at least currently) does not.

To read the complete article, see:
The King's Remembrancer has delivered the Verdict of the Pyx (https://www.ianvisits.co.uk/articles/the-kings-remembrancer-has-delivered-the-verdict-of-the-pyx-89484/)

To read the earlier E-Sylum article, see:
2026 TRIAL OF THE PYX HELD AT MANSION HOUSE (https://www.coinbooks.org/v29/esylum_v29n07a10.html)

	NBS (coinbooks.org) Web