Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1860-10-26
Y ATERTOWN REPUBLICAN.
FRIDAY, OCTOBER &c. 1860.
Counterfeit Coins.

The whole country is flooded with count
erfeits of gold and silver coins, and unless
something is done to arrest the growing
evil the rogues will have it all their own
way. Formerly pair of scales and bot
tie Of nitric acid was all that was necessary
TO enable the receiver Of money to detect
the bogus coin, while an expert would sep
erate.the genuine from the counterfeit by
the very touch and ring of the piece Sci
ence and skill have changed all that and
row the experts are themselves at fault
while the common people are entirely at
the mercy of the manufacturers of bogus
coin, Up to a recent period the most
dangerous fraud in circulation was made
from a genuine die, fitted to strike quarter
eagles. which was stolen from the mint at
New Orleans. 1t bore the date Of 1854,
if we remember rightly; and the pieces
were made of composition metal handsome
ly plated, and coined in this stolen die
That was followed by the practice Of split
ting the gold dollar, taking out about sixty
cents Of It's value, and soldering the shell to-
geth9r again. Then came the saving into
the edge Of q piece, generally half or quar-
ter eagle, cutting two-tkirds of the way
through, and afterwards filing up the
coin, re-rilliDg and guiding the edge
The latest and most skillful Of these frauds
is porpetratcd, as far as detected, with the
eagle. The piece is split into three parts,
or at least the two outside shells contain
ing the impression are separated from the
center. The latter is forfeited to the ope-
rator, and its place supplied by filing of
platina to which the outsides are fastened,
the edges being re-milled and handsoely
plated. This is So well done that very few
experts, outside of the two accomplished
testers Of coin employed by the assistant
treasurer, can detect the cheat The SO
piece under this management loses about
S., SO Of its gold, and remains equally as
good for general circulation. The fact
that this is done at all, and the operation
continued, is proof that it is carried on up
on a large scale; for the exquisitely2 fine
machinery, and the skill and science nee
essary to success, could not be proftahly
employed except in the conduct of an ex-
tensive business. The pieces are full
weight, and except through the wonderful
instinct of here and there rare expert,
they cannot be detected, as they answered
all tests that do not involve the breaking
or cutting Of the coin. There must be- at
this moment large number of them on
deposit in our banks, and in almost every
full bag Of coin one or more of these, or
other frauds may be discovered, while the
number Of bad pieces offered at the sub
treasury has sometimes amounted to fifty
or sixty dollars in a single package of five
thousand -
The counterfeit fraudulent silver coins
are also increasing. The greasy lead or
soft composition quarter dollars any one
may detect; and a portion of the bad half
dollars are of the same stamp. But more
recently composition piece has been ut
tered, which rings well, does not feel smooth
to the touch, and can only be detected by
carefully testing. It's exact ingredients
are unknown, but the weight is evidently
made up by a per centage Of platina.-N
I. journal Of Commerce.