Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1881-10-22
puscHsD AND DErAcgD COIN.

Punched, filed and clipped coins have not
money in this city. In July and August the
increase in volume of defaced coins was so
great as to prove a serious detriment in many
quarters and resulted in losses by no means in
considerable. The banks afforded convenient
medium for the gathering and withdrawal
from circulation of these coins, the retail
dealers selling such as they gathered to the
banks for disposal as bullion. This seemed TO
check the food fer time and during Sep
tamber less defaced and clipped coin was to
be seen il circulation. October, however,
was marked by an increase of this kind of
coin, and it is now as plentiful as
ever, and beside more defaced gold
coins have made their appearance than
inquiring as to the sources of this defacing of
the coin of the nation. It seems to have been
generally accepted as a satisfactory answer
that the Chinese are the chief criminals in
this line. Close inquiry, however. does not
Justify this conclusion. A United States
ub-Treasury detective responds to inquiry on
the subject by the statement that in New
York city uine.tenths of the punching of coins
is done by Cubans. They clamp large
number of silver coins together in roll, and
by aid of a machine made for the purpose
drill hole through the lot in less tine than
it takes to write the statement. Thus about
one twenty. fifth of the coin value of each piece
is taken out, or p cents out of every roll Of
twenty silver quarter dollars. It appears
also that many of the punched coins come
from Mexico and South America, where
United States coins are plentiful and are
sought for. 1t appears, so difficult is
it to trace up this criminal practice.
that but two convictions for it have
been secured during ten years last past.
Those who sweat gold coin are more often
reached. Mr.. Floyd. the chief clerk of the
assay office at New York, says that the Gov
ernment rules relating TO lightweight gold
coins are defective, and tend to keep such
coins in circulation. When q gold coin less
than twenty years old is abraded to more
than ] per cent. of its value, it is stamped
with an L" at the sub-tressury and re-
turned TO whoever offers it, instead of being
sent to the Mint. The object is to force the
holder to take it to the assay Office or Mint
to be sold at It's real value, instead of which
it goes into circulation again. The trouble is
that Congress has never made any provision
for redeeming mutilated or even abraded coin.
Many persons think that all pieces that have
been worn down beyond recognition In actual
service should be redeemed at par. The difh-
Guilty is to tell when piece has been worn
smooth through use or brought to that con-
dition by sweating or other artificial means.
Mr.. Floyd considers that the mutilation of
silver coin does not need Government inter-
ference, because, unlike the abrasion of gold.
the mutilation of silver coin can be de-
tected at once, and it rests with the public to
drive such coins cut of circulation. La this
citygreater care is nowexsreised regarding de-
faced silver coins than at any previous time,
and there is no person in the community now
SO poorly informed as not to be able to detect
when the Goddess of Liberty on the dime or
the quarter has had her head punched off,
and pewter caput substituted. Even the
children are wary and examine coins given
them for change when on market errands,
with keen eyes. Some plugged gold coin is
in circulation here so nicely bored out from
edge to center, and so well filed. as to be de-
tected only by experts.