The Columbian. [volume] (Bloomsburg, Pa.) 1866-1910, 1878-03-01
Our Gold Coins.
A HISTORICAL SKETCH or THE VARIOUS
ORGANISATIONS.

The following historical sketch of our gold
coinage is condensed from an exhaustive pa
per of Mr.. o. W. Wright, in the Milwaukee
journal of Commerce.
/. The doube-e eagle, or $50 piece. Coin
age of the double eagle was authorized by
the act of March 3, 1S49. Its weight is 5lG
grains. Its fneness is 900. This technical
form of expression means that 900 parts in
loo are pure metal, the other 100 parts are
alloy.) The total coinage of the $50 gold
piece up to June 3O 1877, the close Of the
last fiscal year,was SS09 59S ,440. The amount
is far greater than that of all the other coin
age of the United States. 1t is the i'm
pera coin of our country, at once massive
in weight and regal in appearance.
.. The Eagle, or so piece, It's coinage
was authorized by the act of April 3 1892.
The weight was first established by law at
27O grains, but was changed forty-two years
afterwards, by the act of June 2S, 1884, to
25S grains, where it has remained ever since.
Its fneness was, in the beginning, 9lGi, but
was changed, by the act of June 2S, 1884,
the same act that lowered its weight, to S9q,
225. Two years and half subsequently, its
fneness was increased-less than one part in
thousand-to 900. Its weight and fneness
have remained thus fixed to the present day
The total coinage of this noble piece of
American money, up to June so, 1877, was
56,7O7 ,220-less than one-fourteenth of
the total coinage of the imperial double ca
gle.
g. The half-eage, or SIS piece. This ele-
CANT coin has undergone, the same vicissi-
tudes as the eagle. Its coinage was authori-
zed by the same act of April, 2, 1892. Its
weight was 35 grains and its fneness 9l6i.
By the act of June rs, 1884, its weight was
reduced to l29 grains and its fneness to $780,
225. By the act of January Is, 1887, its
fineness was slightly raised to the uniform
standard of 900. Its weight and fneness
have thus remained to our time. It's total
coinage, up to the close of the last fiscal year
was $69,4l2,Sl5.
4. The quarter r-eagle or $3.50 piece. This
fine coin belongs to the same family with the
eagle and halfeagle. Its coinage was au-
thorized, its weight and fneness correspond
ingly altered by the same acts. The statute
of 1892 made its weight 675 grains and its
fneness 9l6t Its weight was reduced to
CAS- grains and its fneness to $780, ,225 by the
act of 1884. The act of 1887 raised its fine
ness to 900. Its total coinage up to June 80,
1877, was s26,975
5. The dollar. This pretty little gold piece
was created by the act of March 8, lS49, the
same act that authorized the coinage of :the
, double eagle, 1t has remained unchanged
Its weight is 25.S grains and its fineness 900
r The total coinage up to the close of the last
fiscal year was $40, ,345,43S
6. Three Dollar Piece An act of Feb
ruary q, 1858, establishing this irregular
coin. Its weight ia grains, and its finenes,
900, are of the normal standard, and have moi
been changed by subsequent acts. Its tota
coinage up to June 80, 1877, was 81, ,300
032.
1t is hardly necessary to state that al
| these gold coins are legal tender to an un
. limited amount. The Federal statute re
| quires however, that the weight should no
5 be materially reduced by attrition.
, Thus it will be seen, there are six pieces o
A gold coinage in the United States. Th
e double-eagle, the three dollar piece, the dol
lar piece-all of late coinage have not bee
e changed in weight or fneness. One of tn
e earliest acts of Congress authorized the coin
, age of the eagle, the half eagle and the quar-
, ter eagle. They remained of the sam
d weight and fneness during more than forty
] years By the Act of June 90, 1884, tn
weight and fineness were both materially re
: duced
Two years and half subsequently,, by tn
= act Of January is, 1887, the fineness was il
creased by less than one part in thousand
! The standard of weight and fneness has r,
mained the same ever since for all gold coli
The fineness is nine parts of pure gold an
\ one part of alloy; or 900 parts in 1000, as
is generally expressed. The standard
- Notwithstanding alloy with the gold
q 2j.S grains to the dollar; the double eagle
twenty times that (5l6 grains) tn eagl
:, ten times 1858 grains the half eagle, fl,
times (l39 grains the three dollar piec
~ three times GA grains) the quarter eagl
- ,! times that (645 grains.
The question is sometimes asked
what is the alloy made? In gold coin, it wa
at first, compound Of silver and copper,
was forbidden by statute that the alloy shou
io n be more than half silver. 1t is now nearly
% copper owing to advances in the art of assa
u ing and improved methods in coinage.