The Logan County banner. [volume] (Logan, W. Va.) 1889-1903, 1889-12-05

GOLD DOLLAR PIECES.


GOLD DOLLAR PIECES.
All the Bright Little Coins Used For Keep-
sakes or Ornaments,
Almost all our gold dollars are be-
Ing used for purposes OF adornment,
and it's fate as a medium Of exchange
has long been doomed I, said an official
OF the Philadelphia Mint the other day.
I'VE are only coining about 5000 a
year for monetary circulation, and
this small amount Is meant by the.
Treasury Department to be merely for
the purpose OF keeping enough on
hand to make change in paying de-
positors Of gold bullion. II it were not
for this, probably the coinage Of gold
dollars would be suspended. /"
Nearly all the gold dollars in exist
=ence have been turned into articles OF
jewelry or are in private desks or
bureaus to be kept as keepsakes. This
disuse Of the gold dollar as medium
OF exchange has been caused by its
small size, being SO diminutiye that
the possessor is continually alarmed
Lest It might drop through the seams
OF the pocket. On March 8, 1849, the
United States mint was authorized by
law to coin 81 gold pieces. The weight
fixed for the coin was % 5 grains, and
the degree OF fneriess 900. Immedia-
tely upon the coins introduction to
the people it received cold shoulder
because Of its inconvenient size.
The treasury authorities endeav-
ored to obviate this appropriately OF.
the coin in 1885, when it was ordered
to be made thinner, and consequently
greater in diameter. But this enlarge
ment OF the surface of the gold dollar
did not suffice to clear away the
popular opinion that the coin was too
small. After the coinage of gold dol,
lars was virtually stopped then came
popular rage for gold dollar bangles.
The young man in society was obliged,
in order to keep on good terms. with
the fair sex, to give them coins to
jingle from their bracelet.
Silver dimes had first caught the
popular eye, but in very short time
silver-bangled bracelets were thought
common, and gave place to gold ones.
The beauty and delicateness of the
almost ostracized gold dollar was adj
mirably suited to the tapering feni-
nine wrist, and it became and is now
the fayorite bangle. When the young
man bought gold dollar at the bank
and took it to his jeweler he fled and
polished the reverse side of the coin
and engraved the initials of the young
mans fair Dulcinea. Very often the
Goddesssof Liberty upon the diverse
side Of the dollar was replaced by a
sentiment and the date upon which the
bangle was given.
Within the past few years the gold
dollar has been branching out in adj,
ditional# directions. They are being
given to old couples, celebrating the
golden anniversary of their marriage,
and sent to Americans living in for
eign lands, who want them for keep
sakes. There has consequently been an
enormous demand for the coin, which,
on account of the small number coined
yearly. can not be met Bankers, with
an eye for a good thing, have brokers
in large cities who gather up all the
gold dollars that can be found. One
bank in this city is known to have sold
500 gold dollars within the past two
years.
"Ifw coined 1000, 900 gold dollars
yearly said an official of the Phila-
delphia Mint yesterday. 1.-THE demand
would not be satisfied. A few days
ago we received letter from a man
living in Cincinnati who wanted -one
hundred gold dollars. We answered
that we could not grant his request.
He then wrote to the Secretary of the.
Treasury at Washington. and the let.
ter was referred TO the Director ofthe
Mint, James P. Kimball, who wrote to
the gentleman at Cincinnati that he
could not be accommodated. Director
Kimball has officially notified us by
letter that the small coinage of gold
dollars should be distributed from the
mint here with care, not to allow them
to pass into the hands of manufacture
ers for mutilation incidental to con-
version into articles OF adornment.
1--WE are, however. allowed to sell
as many proof gold dollars as we
pleaseEg Each one costs $fs25. They
are struck from polished dies on a
hand press, and present a very glossy
appearance. We sell great many Of
these proof gold dollars yearly. but
the people do not want to pay 81. rs for
a 81 gold piece when they can. get it
for even money. n-Philadelphia Rec
ord. IA