Morris tribune., 1886-04-07

EARLY COTN-MAKING.
Money Manufactured in PhlladeIphi
Nearly Century Ago.

Nearly Century Ago.
The history of the early mint, says
the Philadelphia Press. resembles the
early lives of our most successful mill
lionaires in that it commenced to make
money in small amounts and in a very
humble way. The three-story structure,
Nos 81 and SO North Seventh street.
was chosen as the site for the United
States mint. and there it remained from
1892 until 1873, when it was removed to
its present location.
The subject of a national coinage was
agitated as early as 1882, when Robert
Morris, the financier and signer of the
Declaration of independence, advocated
a system of coinage for the United
States. Ten units were to equal /
penny, 10 pence to make bit, and 10
bits to make l dollar Dies for these
pieces were made and several specimens
struck in silver, called the mark, quint
and bit. All of them are exceedingly
rare and valuable. A. mark sold for
$40 in public sale in New York, and
the bit, of which but one specimen has
been brought to light, and which was
recently bought in sale of coin in Scot
land by W. Z. Woodward, of Boston, is
valued at $500. These patterns or ex-
detrimental coins are historically most
interesting, as they comprise the earliest
efforts for the establishment of govern
ment coinage.
The foundation of the new mint was
laid by David Rittenhouse. on Tuesday,
July 81. 1892, at 10 o'clock a. N. On
Sept, II, 1892, the mint made the first
purchase of coming metal, six pounds
of old copper at | shilling ) pence per
pound. Three presses were put up and
operated in the beginning of October,
the first pieces coined being the Martha
Washington haf-dimes, of which Presi-
dent Washington speaks in his annual
message to congress, Nov. 6. 1892, as
follows: ''In the execution of the
authority given by the legislature,
measures have been taken for engaging
some artists from abroad to aid in the
establishment of our minis. Others have
been employed ut home. Provisions
have been made for the requisite build
ings, and these are now putting into
proper. condition for the purpose of the
establishment. There was small be-
ginning in the coinage of half-dimes;
the want of small coins in circulation
calling the first attention to them"
There is a tradition, generally believ-
ed by numismatists that these pieces
were struck from the private plate of
Washington, which he had melted up
for that purpose, and that Martha Wash
ington sat before the artist who design
ed the dies. This is very probable, az
Washington was greatly interested in
the infant mint, personally superintend-
ing many of its affairs. For this reason
the coin is highly priced by collectors.
A number of other dies were made and
coins struck in 1892, as patterns or de-
signs for a regular coinage. Notable
among them is the Washington silver
half-dollar. The dies for this piece were
made by Peter Getz, of Lancaster, and
on the diverse is represented the bust of
Washington, facing left.
The mint did not, however, commence
its regular business till 1898, when the
copper cent and half-cent first made
their appearance, and, although quite
number of these were coined, no less, in
fact, than 112,212 cents, yet they are
seldom met with now, and perfect I'M
used specimen has sold at auction for
5000. The half-pennies of this date do
not command SO much, in fine state of
preservation only bringing from $40 to
800. The most valuable of the arly pen
mics are those of 1899 and 1904, and if
these could be obtained in uncirculated
condition-that is, as fine as when drop
ped from the die, they would sell for
from $500 to $400 each.
In the year, 1894 the silver dollar first
made its appearance, and the coinage of
the half-dime was resumed. OF the dol
lar but few really excellent impressions
can be found, and they would readily
realize from 500 to $500 each. The
coinage Of silver dollars continued till
1904, large numbers being put in circu-
lation. The silver dollar of 1904, sur
named the king of American Coins"
will probably command larger price
than any other of the American series,
and in the face of the fact that it is not |
generally conceded by collectors who
have thoroughly investigated the subject,
that there ever was or is a genuine coin |
of that date struck in that year, known
to the numismatic world. That dies
were MADE Tor the piece Is unquestloned |
and that there were several restrikes |
from the dies as late as 1860 is also adj |
mitted. The two specimens in the mint
cabinet are restrikes, as are all the |
others which have recently been offered |
for sale, but as they sell from $1,000 to
$1,000 apiece it can readily be seen that |
the fraudulent reissues have been a
very lucrative and quick way of making
money.
OF the little silver half-dime of 1902
but eighteen specimens have been found.
The silver quarters of 1924 and 1927 are
most impossible to find, and unused ex-
amples of these dates would be eagerly |
bought at $3.50. The rarest early Ameri-
can coin, however, is the gold half-cagle
of 1915. In this year a disastrous fire
@-;,,1 occurred aft the mint n number