Copernicus was born and died in Royal Prussia, a region that had been a part of the Kingdom of Poland since 1466. He was a polyglot and polymath who obtained a doctorate in canon law and also practiced as a physician, classics scholar, translator, governor, diplomat, and economist. In 1517 he derived a quantity theory of money – a key concept in economics – and in 1519 he formulated a version of what later became known as Gresham's law.[3]