The Denham baronetcy was created for Sir William Denham, Master of the Mint for Scotland; he had purchased the estate of Westshield from the Earl of Carnwath.
In 1558 Richard Martin was elected a liveryman of the Goldsmiths Company and later a Master of the Mint and Lord Mayor of the City of London.
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He was Master of the King's Jewel House, and one of the Deputy Masters of the Mint.
He was appointed Assistant to the Master of the Mint and then Chemist of the Royal Mint (1869), Professor of Metallurgy at the School of Mines (1880) and Chemist and Assayer to the Royal Mint (1882–1902).