Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-02-28
Our Gold Coins.
A Historical Sketch Of the Various Denomin-
alton.

A Historical Sketch Of the Various Denomin-
The following historical ske oh Of
our gold coinage is condensed from
an exhaustive paper of Mr.. O. w.
Wright, in the Milwaukee Journal
of Commerce
/. The double eagle, or $40 piece.
Coinage of the double eagle was au-
thorized by the act OF March 1S49.
Its weight is SIC grains. It's 6neness
is 900 (This technical form Of ex-
preston means that 900 parts in L.
600 are pure metal, the other 100
parts are alioy) Tho total coinage
of the $40 gold piece up to June 80.
1877, the close of the last fiscal year.
was $500, 598.4 40. The amount is
far greater than that OF all the other
coinage of tho United States. It, in
fact, is the imperial coin of our coun-
try, at once massive weighty and
regal in appearance.
2. The eagle, or SO piece. Its
coinage was ausho-iz by the &C. of
April 2, 1892. The weight was first
established by law at 27O grains, but
was changed forty-two years after
wards, by the act of June 90, 1884,
to 25S grains. where it has remained
ever since. lis fneness was. in the
beginning, made 916S, but was
changed by the set of June 90, 1884
the same act that lowered its weight
to .S89225. Two years and half
subsequently, it's fineness was in.
creased-less than one part in q
thousand-to 900. It's weight and
fineness have remained thus fixed to
the present day. The total coinage
of this public piece of American
money, up to jane 80, 1877, was $780,
707 ,220-less than one fonr,eenth
of the total coinage of tho imperial
double eagle.
B. The half-eagle, or S. piece.
This elegant coin has undergone the
same vicissiludes as the eagle. It's
coinage was authorized by the same
act Of April 2, 1892. It's weight was
1876 grains and it's fneness 9164. By
the act of June % 1884, it's weight
was reduced to 129 grains ana It's
fueness to .899225. By act of Janu.
ary IS. 1887, its fineneas was slightly
raised to the uniform standard of
900. It's weight and flneness have
thus remained to our time. It's to
tai coinage, up to the close Of the
last fiscal year, was 500 412 S15.
The quarter eagle, or SO so
piece. This fine coin belongs to the
same family with the eagle and half
eagle. Its coinage was authorized,
it's weight and fineness corresponds
ingly, altered by the same acts. The
statute of 1892 made its weight 67 5
grains and its fnenes 9161. Its
weight was reduced TO CAS- grains
and its fineness to .S99225 by the act
The act of 1887 raised it's fineness to
900. Its coinage up to June 80, 1877.
was $26 975,75O.
B. The dollar. This pretty little
gold piece was created by the act of
March 3, lS49, the same act that
authorized the coinage of the double
eagle. 1t has remained unchanged.
LIS weight rs rs 8 grains, and its
fineness 900. Tha total coinage up
to the close of the last fiscal year
was $40, 345,438
6. Three-doIlar piece. An act of
February 81, 1853, established this
irregular coin. LIS weight, IA
grains, and its tineness 900 or of the
normal standard, and have not been
changed by subsequent acts It's to-
tai coinage, MP to June 30, 1877, was
$1,000, O32.
1t is hardly necessary to state
that all these gold coins are legal
tender to an unlimited amount. The
Federal statutes requires, however,
that the weight should not he mater
tally reduced by attrition.
Thus it will be seen there are six
pieces of gold coinage in the United
States. The double eagle, the three
dollar piece, the dollar piece-all of
latter coinage have not been changed
in weight or fneness. Ono of the
earliest acts of Congress authorized
the coinage Of the eagle, tbe halt
eagle and the quarter eagle. They
remained Of the same weight and
fineness during moro than forty
years. By the act of Juno 90, 1884,
the weight and fineness were both
materially reduced.
Two years and halt subsequent
ly, by the act of January Is, 1887,
the fineness was increased by less
then one part in thousand. The
standard of weight and fineness has
remained the same ever since for.al
gold coin. The fineness is nine parts
|of pure gold and one part alloy, or
900 parts in 1000, as it is generally
expressed. The standard Of weight
including alloy with the gold--is
25.S grains to the dollar; the double
eagle is twenty times that (516
grains) the eagle, ten times (258
grains) the half eagle, five times
(129 groins) the So piece three
times OLA graine) the quarter ca
gle, two and one-half times that(64.5
grains).
The question is som stimes asked
Of what is the alloy made In gold
coin, il was of course q compound of
silver aud copper. 1t WAS forbidden
BY statute that the alloy should be
more than half silver. 1t ia now
nearly all copper, owing to advances
in the art of assaying and improved
methods of coinage.
The total amount of gold coinage,
up to June 80, 1877 was 1888 159, sos
The colored people of the South