The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1863-04-18
miscellaneous.
Interesting Facts about the U, $.
Mint,

The United States Mint was established in
! 1872. The first cents were coined in 1913; the
! first silver pieces tn 1874, and the first gold
pieces in 1875. From that time to June 80,
| 1851, the whole amount of the coinage of all
| kinds was 500 9lS,362 Ofthis amount Sj:,1 :
! 761 500 came from tie Mint during the time
between June 80, lsi9, ami June 80 1851, Cal
. ioriiia gold having begun to flow towards the
Mint at the commencement of this period The
increase during those years was chiefly in gold
coins, although the coinage of the cents was
largely increased after 1857. The amount of
cents coined during 1856, was $27, 1867 for the
! year ending june 30, 1855, it was S23I 900
! The whole amount Of the gold coinage during
the period specified was 1868, 49, 06; silver
! Sl2S, l59,4S2 copper and nickel, 1854 = 43.
The whole amount of the money coined at the
mint from 1892 to the end of 1895 was ,s7i ,is5
in gold; $310,9S3 in silver, and 81 ,373 in
copper; total, Sl43,54l The smallest amount
coined in any one year af.er this was sS20,45l
i'll ISIS; and the largest in one year was $50
! 693,1GS during the fiscal year ending in 1861 ;
and nearly $sl ,O0O,J00 OF this was in gold, the
largest amount Of gold in any one year. The
! largest amount Of silver coined in single year,
WA. $9O17,31 in 1850, when the Spanish six
and twelve cent pieces We're taken out of circu-
| alton, and transformed into American money
| The largest amount o! cents in one year was in
I ls59-to, S3i2,O00. The coinage of cents dur
! ing the present year, however, will no doubt
exceed that of any other year, as the amount
coined DUNG one month alone reached SOB. 0lU
Yet at the present time cents cannot he coined
rs fast as they are wanted, although they arc
manufactured at the mint as fast is the machin-
cry can turn them out. Two or three years ago
! this coin would accumulate in vast quantities,
and it was difficult to exchange them for any
available currency. Ii is not so 1t, the present
! time, although there are more in the country
than ever Thrcc-ccnt pieces, also, which We're
very abundant two wears ago, are scarce and
gone oat of general circulation. They are seen
now and then, but they may ere long be clasaed
with the rare curiosities and hunted up for
exhibition. Those people who now hoard cents
aud t!rccccnt pieces do it, probably, in the
belief that they are much more valuable than
Tie regular paper currency. We suppose they
do not understand that cents and tluce-ccnt
pieces are not worth what they pass for, and
| that they are not legal tender for the payment
nj debts amounting to more than thirty cents.
\ person may hoard tblcc-ccnt pieces TO the
amount Of hundreds Of dollars; but he cannot
pay debts with them Use them at all in bust
ness transactions, beyond the amount specified
ii others refuse TO take them: and with cents the
case is still worse. Such huartlin" is foolish
business. These small coins were made to cir
cula.e as change; and they Were made to pass
for more than they are intrinsicaliy worth, in
order to keep them in circulation; Therefore, let
them circulate.
In regard to the abrasion Of coins, very re-
| malkabc statements have from time to time been
published rs to los, by abrasion OF wear, making
the amount so great rs almost TO cast diScIcdit
upon metallic currency. We are told by one
writer, thai The annual loss in II country where
both gold and silver circulated, is one part in
i2o; by another one in BOO; by third, one in
300 and one gentleman of great accuracy and
,If (,it, L,-I \
i'll coined silver is full one per cent per annum.
4 more recent and alarming estimate from Brit
iSh sources, would lead to the expectation that
silver pieces Of the size of their shilling or our
quarter dollar, would, in less than ten years, he
worn much as to be no longer passabc.-
Every one knows the value of such statements
on this side o. The water.
At thorough re-examination Of this impor-
tant subject, made at the Mint. ii was asccr-
tanned what is the average annual loss on each
size of gold coin, and on silver promiscuously.
lie silver coin averages Il loss Of one part in
$50; the hall eagle, one in $3.50; the double
eagle, one in 5000; and that by "A cautious
estimate as to the proportions of tie various sizes
OF com actually among us, the average annual
loss by abrasion does not exceed one part III
2,4oO; that is, in times VIXEN specie is current
al par with bank paper, and not lying idle.
The National Medal department OF the Mint
has become most important and interesting
part of the institution. The reproduction Of
National and other American Medals of historic
interest has been received with great favor by
all who are interested in nunsmatics, aud by
all who desire the development of native genius
and skill in this branch Of the arts. Medals Of
honor for the Navy, in recognition of noble and
patriotic services in defense OF the nuriona!
honor and life, have been prepared here, which
reflect the highest credit on :Ec artists aud work
men engaged in their preparation.
Rare and valuable coins and medals have
been added 10 the Mint Cabinet during the wear.
The cabinet has become very attractive place,
and the daily crowds of intelligent visitors attest
value and importance as u nunIisniatic coliec-
ton.