Clinch Valley news. [volume] (Jeffersonville, Va.) 18??-2019, 1889-07-19
COMING MONEY.
THE WORK OF THE GOVERN
Mi;Sr STAMPING MACHINES.
Story OF the NicI:cis ana Gents
Profitable Work for Cncic
sani-'rhc Coinage OF
Silver Currency.

suggested some inquiries in regard to the
cost of these coins, and how it happcns
that the Government can afford to shin
them ut par valucand pay express charges
upon them.
Tie Story of the nickel is an interesting
one. Very few people in this country
ima2inc now much profit Uncle Sam
makes out 81 the stamping OF these small
coiIs Tic actual cost of II nickel to the
government IS not much more than three
quarters Of :; cent. Formerly the metal
WIS fixed, piai.ed and prepared for use in
the national work shops at the various
minis. but now the metal is purchased and
prepared by outsiders under contract. All
the Government does now is To put its
stamp upon the blanks and then gather in
lis profit on their circulation.
Tic total amount of these coins issued
III year will average about 5000. UJG and
rs very few of them ever return 10 plague
the Government, the actual profit to the.
National Treasury can be easily calcu-
lated Nickcls and pennies are, of course.
rcdccinablc by the Treasury in other
money when demand is made, but that
occurs only occasionally, aud then the
CONS are sent to the clint cleaned up and
sent into circulation again.
IL is about the same story in reference
to pennies. The Government buys the
metal out Of which they are made ready
Tor use, and pays so much pound for it
when il is cut and prepared for stamping.
Then the Mint puts the legal mark upon
the coins, and they are turned out by the
million. What do they cost! Well.
every cent that is coined brings in profit
~ tiiree-nuartcrs of :, cent 10 the Govern
mont. More pennies than nickcIs are re-
'urn"'' To the Treasury in exchange for
"the. ;'i"ncy, but they are sent promptly
I" the Mint, and soon ..ot into tho hands
oi the public once again. \ bronz.
penny or :, nickel fvc-ccnt piece docs no.
wear on as rapidly us dollar bill
I'm there is still another source Of
profit To the Government in the issuinp
OF these small coins. One of the most
expert OF men mt the Sub-Treasury in
wall street declared day or two since
that there are still in existence somewhere
floating about the country, punched up
! i'll old stockings or in the hands of curl
oslty collectors, over 100, 900, 600 of the
old-fashioned copper cents, about %. 600,
Ooo OF copper-nickcl cents, nearly 500,
oOo,ooo OF the present issue of bronze
pennies, 20, 000, 900 of nickel thrce-ccnt
pieces and about 200, 600. 900 of nickel
fivc-ccnt pieces. The total value of these
outstanding minor coins is, put in round
numbers, 1920, 600, 900, and every dollar
of this is absolute profit to the Govern
mcnt.
The coinage of silver pieces is done
mainly by the national minis, and,
strange to say, there is more profit in the
work than anything else that the mint
does. Under the present slaw the Treas
ury is required to buy and coin at lcas..
S2,0oO, goo worth Of silver into dollars.
This 50, 900, 900 worth of silver makes
| nearly -, $50 900, So that H.. profit on
the monthly purchase and coinage Of sill
yer dollars is fully $3.50, 900. So the
profit on the silver dollars, you see, is
about ~, 000,0 900 81 year or more, and
adding to it the profit on the pennies
and nicklcs brings it up to nearly $40.
600, 000. OF course there must he taken
ont OF that the expenses of the Mint, but
they are comparatively small SUM-
The process of c3:ning silver pieces is
i'll interesting one, :ld is the same, prac-
tlcaliy, for dimes and for dollars. The
silver bullion is first melted and run into
bars. These in turn are run through i'm
mcnsc rollers and hattencd out to the
thickness of the coin. These silver
strips are then passed through machine
which cuts them into the proper size for
the presses, the strips first having been
treated with II kind of tallow to prevent
their beln" scratched in their passamc
through the cutters. The silver pieces
are then put into the feeder of the print
ing presses, and are fed to the die bv an
tomato machinery. As the smooth
pieces are pressed between the ponGcrous
printing dies they receive the lettered
and figured impression in manner SINH
iar TO that OF paper pressed upon form
oil type; at the same time the piece is ey-
banded III slight degree and the small
corrusations are cut into its rim. The
machine crops the completed coin into
receiver and it is ready for the counters
hands.
The instrument used by the counter is
not complicated machine by anv means.
us one might suppose. 1t is n simple,
coppcr-coycred tray, having raised ridges
running across its surface ut distance
apart the exact width of a dime. From
the receiver the money is dumped on to
THIS board or tray, and as it is shaken
rapidly by the counter, the pieces settle
'lown into the spaces between the ridges.
All these spaces being filled, the surplus
coin is brushed back into the receiver. and
the counter has exactly 1850 dimes ,Sl95.
on this tray, which number is required to
I'LL the spaces. The tray is then cnpticd
into boxes, and the money is ready for
shipment.
The dime does not pass through the
weigher's hands rs does the coin of n
larger denomination. One ard onc-half
grains is allowed for variation or '.tolcr-
ance' i'll nil silver coins from dollar
down,and the deviation from the standard
IN the case of ten-ccnt pieces IS so triiiing
that the trouble and expense OF WEIGHING
COINS OF this denomination is dispensed
With.-Ae'1 York STIR.