I’ve seen people suggest it’s because a round shape wears evenly, but it could also in part be a holdover from how ancient coins were struck in many cases: a round blob of softened metal becomes a roughly circular shape when stamped flat. Also a circle is more material-efficient. For coins that used to be made of actual precious metals, it would have been a waste of material (and potentially time) moulding the corners. Especially, if suggested, those corners will tend to bend or break.
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