New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-10-02
INITIATED COIN.

The nuisance of punched pocket pieces is probably
doomed. When silver out of sight, during war
times a gold or silver was boarded as curlos-
| ity OF souvenir Rural beaux gave them to the
! bellies for kcepSakcs. To punch hole through one
that it might be hung by ribbon around the
neck very natural; to string dozen or twenty
! in a bracelet or necklace by of the same de-
! vice of n little lie in the edge, was not uncommon
ROgues in this practice temptation and OPP
! portunity to n svindle which has become very ex-
! tensive. For when coin returned to circulation
and the special interest attached H. preserving spec
linens declined, many persons broke up their orna-
ments, made by stTingng together dimes or dollars
and used the pieces Notwithstanding the little
holes for money. And then, under If the fact
that small number of punched pieces thus came into
circulation somewhat legtlmately, the swindlers
| ado ted practice of punching as larle piece As
they dared out of every they could lay hands
on the mutilltcn coin then put In clrcu alton,
while the pieces kept till enough gathered
to warrant melting them and selling metal. The
good-uatured tolerance of the people has allowed
this nusanc" to run too long. Two or three years
ago the post offices began To refuse the punched
pieces. Banks and establishments somewhat indie
pendent of popular custom have done the same.
Keepers Of SIN II shops restaurants, grocers saloons
and cigar stores news stands and the like have ielt
they should lose custom. Many of these have
naturally felt justified in proffering to customers
whatever coins oners gave to them; some have
been magnanmous enough to sell their mutatcd
coin such, and bea, the loss
Apparently the class of persons responsible for the
swindle have late,y been giving 1t a turn; for
an anonymous placarl, headed Notice TO CustO-
mcrs has made Its appearance extensively 1t reads:
The United states Government has fixed the following
values on silver coins with ho!cs III tnen:
Dollars 50 cents
ID cents
Dimes cents
cents
These values placed upon coins 50 punched with
"mutlatins' silver money OF the United States
We understand that thus announcement is repu-
dated by Ire Isury officials in this city and in
Washington. II can hardly be aut entic, for it
would obli-e the Government to receive coin not
outstanding it might have been mutilated more
than the designated sum; quarter-dollar might
be cut in two, and fifteen cents demanded for each
half The only just and sensible way of valuiug
coin which has been clipped or punched must be by
weighing it. Apparently the notice is a new cheat
of the swind' rrs. designed 90 open the way for them
10 90 through tn city nuyilg mp muilated coins at
rates perhaps little higher than that allowed by
the notice, they knowing that they can get a much
But a houis notice may be effective in driv-
Ing these coins out of use. The matter Of making
change depends very much on common usage of the
people No ono likes to refuse what people gem
orally accept In many positions one cannot
we'll refuse it, Whoever Is obliged, as all constantly
are, to offer bill IN payment for something bought,
expecting change ~ matter of usage is in a measure
obliged to take such com As usage sanctions This
disowned notice may be useful in changing the
usage under which the deprecated coin has been
circulated. Already the ticket-scers and the news
dealers at the elevated railroad stations are. we
believe instructed to refuse these cous uniformly
and systematically, AMI will, Of course discontinue
paying them out Wherever the notice IS posted it
will serve 10 show that these coins had better not
he offered to that dealer and will make him ashamed
of offering them to customers. few days of gem
cr.,l dissemination of such pacard will open the
way-nay, probably has already opened the way-for
the entire pubic to say. when OF tGese IS
offered: Il don't take that kind f money any
more; it is no longer usual change BY all means
pass the fictitious pacard around till mutilated
coin is known more Meantime the public will
do well to be on their guard again pieces IN which
the hole has been ENORMOUSLY filled with base
metal.