Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1890-03-30
REAL MONEY.
GOLD COINS AND INTERESTING FACTS ABOUT
THEM
Our Twsnty-Dollar Gold Piece is the Handsomsst
Coin in the Word-0ars Taken in is
Manufacture How Long
Gold Coin Lasts


% ~ uaL Us LNf NaAN~NillNn- Yum ttlst'tN-
inquired the reporter of the coin clerk.
"Weu, 1 should say the American
double eagle. OF course 1 don't see all
the coins of the earth here, as we are
not allowed 20 receive those of foreign
countries: but as far as my experience
goes place our $50 gold piece at the
head of AN others for beauty of design.
I'm fact. AN the gold coinage is hand
some money. The Government devoteS
good deal OF time 90 pcrfccting it,.
Tho metal is Furnished 20 perfection.
and IF q sheet of 10 were hung up in your
bedroom 10 would serve all tine purposes
of "a mirror. From these sheets the
disks. or p'auchcttc>, as they are tech
nicallv known. are stamped, after which
they are placed under the dies and receive
the pattern of the piece they are to rep
resent. some times We get one or two
of these blanks. which have escaped thc
operator, iu am invoice from the mint.
''Whcn IS "a coin unit for clrcuia-
tion?'
81 will take q 500 piece Co aid me i'm
answering that question. The govern
meut provides that an coins of this de-
nomination shall weigh $40 grains when
they leave the mint, and Will receive
them So long as they tip the scales at
5f3.42 grains This is the limit of toll
Grafton. on minimum weight. The gov
eminent is willing to stand this loss,
which means about nine cents ON q
double eagle. 10 is the practice, i be-
lievc. in some of the Sub-rrcaSuricS 20
nav out coins of this weight. but We
have made 10 rule here not 20 again
place them Zoo circulation. as DO would
take but % very short time to wear them
down below tine minimum, and the
holder would then have % dispose OF
them 40 their bullion value. We have
now On deposit 100000 OF minimum
weight coins. some of which have been
Inn our Keeping for the past decade
awaiting an appropriation by Congress
that will admit of their being melted up
and rcstampod But the prospects are
that they will remain with us for many
wears tO come. or uutl There is some
cessation n the coinage of silver.
AL of this immense sum is practi-
callv valuclcSs as circulating medium,
but suppose we can stand it, as no ma
ton ON the face of the earth is as
wealthy as ours. There is another class
of coins that are never paid out, they
being known as dead pieces. They are
the result of imperfect metal, and are
absolutely without sound. People who
get hold of them run here 90 hud out
whether or not they have been swim
died. as they believe tine value of metal
money always depends upon its ring.
..What is the loss to the Government
ON It's gold coinage
About one-Quarter of 1 per cent, or
$3.50 ON $1,000
There is q popular fallacy that gold
is not counted by the governmental
.'It is not only counted. but every
piece is carefully Inspected. We could
not 20 by weight, as there are many
plugged pieces. and sometimes couu-
terfcit finds It's way here which is mp 10
weight.
..What is the finest gold counterfeit
you ever Saw2
1T was - piece. 1 remember re-
cciviug one of them from a Portland
bank and sending 60 back for good one.
They claimed l had made very big
error. and were very enthusiastic M
their criticism of this Office. The piece
was finally forwarded 20 Washington,
and. after careful examination OF IT, 1
was sustained. Tho Portland bank sent
I'm am apology 90 me for its haSty action.
The piece was one of "a number issued IN
1872. and bore the imprint of the Carson
Citv mint. To contained l29 grains OF
gold. and was is karat fine instead of
30. the legal standard of hncneSS, and
was worth Just S4.43. The other ingre-
dientS were silver. cOpperand platinum.
The mystery 90 me is how they made
the business pay. The countcrieiting
OF gold coin i'm this country began I'm
1900. and has continued until the pres
cnt day
..What is the life of a gold coin?'
about 30 years I'm the United States,
but I'm England and other countries
where 10 is largely used by the people as
a medium of exchange 10 lasts a much
shorter time. Ii costs England 100000
a wear 90 keep her sovereiguS I'm good
order. and that was one of the reasons
why the report went forth that the
Bank of England I1poSed issuing Il
notes. I come across pieces once ln
while that have had ana existence of half
"a century and look as fresh and bright
aSif they had been issued but ycSter-
dav. Here is "a $3.50 piece that was is
sued I'm 1886 that has not Yet lost its
polish. To is very rare coin and Is
worth at auction $50. It probably be-
lonced to some one who kept 10 as %
relic or in remembrance of some dear
friend. Or DO may have fallen into %
crack and remained Tor years in
its place of couccaImeut until the
march of progress brought DO 90 light.
Sometimes thief rooS crank OF MS
treasure and diSpo>o> of the rare and
almost worshippcd coins 40 their face
value. Eventually they find their way
To the Sub-trcaSuricS. whore their career
is again stopped. as We are always ON
thealert tocatch these choice mintageS.
..Whcn You receive coin deposit how
do YOU guard against loss to the govern
meut?'
.Thc redemption clerk first takes 10
and gives % receipt for the amount the
bag is said 20 contain. Thcult Is count
ed. All the light pieces are thrown to
one side and So stamped across their
face. The countcrieitS are emit IN halves.
and. I'm fact. AN pieces whibh are not no
10 again place Don circulation are de-
Quoted from the original sum brought
here When the owner comes to get ms
receipt cashcd hc is given all the re-
iected coin, and. after me has paid back
like amount m perfect money, we
square mp with him. The light pieces
are worth their bullion value. and n
they are sent 90 the mint az Philadei-
phia their exact worth is returned 20 the
owner. Sometimes they are taken 10
broker. but. of course. they have 10
make "a profit. and will deduct about 10
Der cent. for their commission. / don
uphold the government ion compelling a
person To- stand losses of this Kind. The
people with whom this coin circuiateS
take it iu good faith. and they have no
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