Martin Folkes, the eminent antiquary and scientist, was the eldest son of Martin Folkes, a Bencher of Gray's Inn. He was born in Lincoln's Inn Fields, London, on the 29th of October 1690, and after receiving his early education at the University of Saumur, was sent, in 1707, to Clare Hall, Cambridge, where he so greatly distinguished himself in all branches of learning, and more particularly in mathematics and philosophy, that in 1714, when only twenty-three years of age, he was elected a Fellow of the Royal Society, and two years later was chosen one of its Council. In 1723 he was appointed a Vice-President of the Society, and on the retirement of Sir Hans Sloane in 1741 he became President, a post he held until 1753, when he resigned it on account of his health. Folkes was also elected a Fellow of the Society of Antiquaries in 1720, and in 1750 he succeeded the Duke of Somerset as President, an office he filled during the remainder of his life. His attainments were also recognised by the French Academy, which elected him in 1742 one of its members. He was a D.C.L. of the University of Oxford, and LL.D. of the University of Cambridge. He died on the 28th of June 1754, and was buried in the chancel of Hillington Church, Norfolk. In 1792 a monument was erected to his memory in Westminster Abbey.

Folkes, who was the author of two works on English coins, and several papers in the Philosophical Transactions of the Royal Society and the ArchÆologia of the Society of Antiquaries, formed a fine collection of books, prints, drawings, pictures, gems, coins, etc., a considerable portion of which he acquired during his travels in Italy and Germany. His library, which was very rich in works on natural history, coins, medals, inscriptions, and the fine arts, was sold by Samuel Baker, York Street, Covent Garden, on Monday, February the 2nd 1756, and forty following days. The sale consisted of five thousand one hundred and twenty-six lots, which produced three thousand and ninety-one pounds, six shillings. A catalogue, marked with the prices, is preserved in the Library of King George III. in the British Museum. A copy of the first Shakespeare folio fetched but three guineas. The sale of Folkes's prints and drawings occupied eight days, and that of his pictures, gems, coins, and mathematical instruments five days. Dibdin says that 'the MSS. of his own composition, not being quite perfect, were, to the great loss of the learned world, ordered by him to be destroyed.'