In 1788, and in partnership with James Watt, Matthew Boulton was able to make use of steam power for his new coining machines. This medal was produced to record the effectiveness of the new machinery and also to serve as a public record of his various improvements, as he feared they would be claimed by the French. It is believed to have been struck at the Soho Mint c 1803 and may have been intended for the French market.