Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1883-06-23
Old American Coins.

age was only ST., $3.50, and in 1899 il was
$423,515. In 1900, 1920, 920 were coined
In 1904 the mint ceased to coin the sill
yer dollar, and from that year until
1910 that coin did not appear to any
great extent in circulation, although
pattern coins were made in 1886, 1888
and 1889. These were not for circula-
ton, but issued as specimens for the in
spection of the authorities delegated
to regulate the mintage. These
issues, so small when the popula-
ton of she country is considered, show
that in this country in the latter part of
the eighteenth century trade was in a
somewhat primitive condition, and that
"barter" was largely in vogue among
the citizens. IA 1910 the coinage of sill
yer dollars reached only SCI, 900, while
in 1880 the issue of what has been known
(and bitterly cursed) as the Bland dol
lar, was ST., 100000, and in 1881, S.
000,0O These figures show that at
this period trade demand abroad
sprung up for silver, and that the Amer
leans were able to supply it. Prior to
this, however, the trade dollar was is
sued for the Chinese trade, its original
DCluS W u Will
China, and to drive the Mexican silver
out of that country. The trade dollar
was eagerly received by the Chinese,
and its advent was the doom of the in
terror Mexican coin in that empire.
Among the coin collectors there has
been fierce competition for years for
the silver dollar of 1904. This is one of
the rarest of all the American silver
pieces, not more than six authentic
specimens, according to the opinion of
trustworthy experts, being in existence.
There is no certainty as to the reason
for the scarcity of dollars of this date,
but it is legend among collectors that
in 1904 there was a cargo OF tea received
in this country on the cash basis, and
it took all the dollars of that years
coinage-between $19, 900 and 100000
TO satisfy the Chinese, who have always
had holy horror of subsidiary coin.
One of the peculiarities of the Chinese
is that all foreign coins of standard
value received by them is recoined by
their Government. The same rule pre-
walls in this country as to foreign coin,
which must be sent to the assay Office
and thence to the mint for coinage before
it can go into general circulation.
The scarcity of the 1904 silver dollars
long since inspired the genius of I'm
principled men, and the result is that
there are many copies of the old coin in
existence that pass as genuine, and are
shown in otherwise good collections.
AS has already been said, there are
only six of the genuine coins now
known; those that glitter in showcases
are accurate fac-similes, perhaps, but
they are not genuine, nevertheless.
There is story among collectors to the
effect that relative of the Superinten-
dent of the mint-a son, it is believed
caused dozen or fifteen impressions
from the original die of the 1904 dollar
to be made, and sold them even then at
fancy prices; but the old gentleman,
the soul of honor, found out what he
had done, and managed at great ex-
pense, to suppress all but two or three
evidences of his SON. s crime; but several
counterfeits of the 1904 dollar have
been made, and some of these are fond
ly believed in by their owners. In 1876
one of these was offered to well-known
Philadelphia collector, who was nearly
taken in by it. Since that time the 1904
dollar has been sold four or five times,
generally for from $500 to $400. There
was doubt of the authenticity of each
of these specimens, although if they are
counterfeits they are very nearly equal
to the genuine.
Six or seven years ago silver dollars
of 1901, 1902 and 1903 were offered for
sale to j. Calvin Randall, the Chestnut
street collector, for $50 each. He re-
quested that they be left with him for
examination, and his inspection proved
that they were not of the dates they
bore, although they were of standard |
silver and approved weight. In the
1902 dollar the 2 was out Of plumb and |
there were several other defects that did |
not appear in the genuine.
'Is there any counterfeiting of rare |
coinsP" Mr.. Randall was asked yester-
day.
There has not been great deal |
hitherto" was the reply. 'but if the |
demand increases as it has been doing |
within the last few years, it cannot fail |
to bring forth hosts Of counterfeits. You
see, Flood, one of the California bonanza |
men, has been bitten with the mania for
collection, and has his agent at all the
sales. Then there are Mr.. Garrett, a
very wealthy gentleman of Baltimore,
and l.. Parmlee of Boston, baker of |
pork and beans, but very rich, and half |
score of other ardent collectors, all of |
whom stand ready to pay high prices for
rarities. An 1904 dollar, genuine, should
be worth at least $4,000; and / think
If any of them come under the hammer
you will find very heavy bidding for
them. The last one that was sold fell
to H. S. Adams, the cashier of the Bos-
ton postoffice, for $500. That was dirt
cheap. The coin originally belonged to