The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1890-01-08
LITTLE GOLD DOLLARS.
Why the Pretty Coins Don't Circulate. but
Are Saved Up for Ornaments.

almost all our gold dollars are be-
ing used for purposes of adornment,
and its fate as medium of exchange
has long been doomed" said an official
of the Philadelphia mint. "We are
only coming about 5000 per year for
monetary circulation, and this small
amount is meant by the Treasury De-
partment to be merely for the purpose
of keeping enough on hand to make
change in paying depositors of gold
bullion. If it were not for this, proba-
bly, 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 bu-
reaus to be kept as keepsakes. This
disuse of the gold dollar as a medium
of exchange has been caused by its
small size, being so diminutive that the
possessor is continually alarmed lest it
might drop through the seams of the
pocket. On March 8. 1S49, the United
States Mint was authorized by law to
coin 81 gold pieces. The weight fixed
for the coin was 25.9 grains, and the
degree of fneness 900. Immediately
upon the coins introduction to the peo-
pie it received cold shoulder because
of its inconvenient size.
The Treasury authorities, says the
Philadelphia Record, endeavored to OBJ
viate this unpopularity of the coin in
1885, when it was ordered to be made
thinner, and consequently greater in
diameter. But this enlargement of the
surface of the gold dollar did not suffice
70 nl tho 1o,. hot
the coin was too small. After the coin
age of gold dollars was virtually stop
ped then came popular rage of gold
dollar bangles. The young man in So
ciety was obliged, in order to keep on
good terms with the fair sex, to give
them coins to jingle from their brace
let.
Silver dimes had first caught the
popular eye, but in a 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 were ad-
mirably suited to the tapering femi-
nine wrist, and it became as it is now
the favorite bangle. When the young
man bought a gold dollar at the bank
and took it to his jeweler he filed and
polished the reverse side of the coin
and engraved the initials of the young
mans fair Dulcinea. Very often the
Goddess of Liberty upon the diverse
side of the dollar was replaced by a
sentiment and the date on which the
bangle was given.
Within the past few years the gold
dollar has been branching out in addi-
tional directions. They are being
given to old couples celebrating the
golden anniversary of their marriage,
and sent to Americans living in foreign
lands, who want them for keepsakes,
There has consequently been an enor-
nous demand for the coin, which, on
account OF JfIe small number coined
yearly, can not be met. Bankers, with
an eye for good thing, have brokers
in large cities who gather up all the
gold dollars that can be found.
eff we coined 100000 gold dollars
yearly" said an official in the Philadel-
phia mint yesterday, 1.-The demand
would not be satisfied. A few days
ago we received letter from a man
living in Cincinnati who wanted 100
gold dollars. We answered that we
could not grant -feauest--He then
wrote to the Secretary of the Treasury
at Washington, and this letter was re-
ferred to the Director of the mint,
James P. Kimball, who wrote to the
gentleman at Cincinnati that he could
not be accommodated Director Kim
ball 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 hand of manufacturers for
mutilation incidental to conversion into
articles of adornment."
We are, however, allowed to sell as
many proof gold dollars as we please.
Each one costs $1.25. They are struck
from polished dies on a hand press,
and present a glossy appearance. We
sell great many of these proof gold
dollars yearly, but the people do not
want to pay $1.25 for 81 gold piece
when they can get it for even money.