Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-05-29
QUERIES & ANSWERS.
INTERESTING INFORMATION ABOUT
GOLD AND SILVER COINAGE.
The "a" In "Pass'-QuaIincstio Of
Legisiators-Insscts In Orchard
Grass - Dog Laws.
PErrRspuo, Va.

PETKRsBUo. VA.
To me Editor Of the Dispotch'
Please inform me what amount of alloy
il in American gold coin. and what the
difference would be between English and
French cold coin and our American gold
coin Tins. what is q go gold eagle worth IN
European coined gold? Also, what amount
OF ALLOW IL in our United States coined
silver. and what is the difference between
the intrinsic value OF silver dollar ana
gold dollar. allowing the parity to oe 10
for between the two metals, meaning our
two kinds Of coined metal as at pfesen, III
circulation in the United States! Also,
when bullion il shipped to Europe from
New York what discount is made In Europe
on American gold. il any and If coined god
when shipped, has the same vaiue ia
Europe az cold bars. In other words, how
much cold coin will pay sterling debt IN
England of. say El0Of
Respectfully, READER
4 The amount of alloy in the coins OF
the United States Is one tenth-that is to
saw. one part of alloy combined with nine
parts OF pure metal. There are 2314 grains
of pure gold IN a gold dollar. Add one
ninth for alloy and the dollar as coined
contains Is As grams of standard gold.
Our coins are rated with those OF Europe
solely with reference to the pure gold
which they respectively contain. The al
10y is not taken into account.
2. Our silver dollar contains. and has AL
WAYS contained since the formation of the
government, 37i1l grams of pure silver.
The amount of alloy has not always been
the same. but the American dollar con-
tains. under present laws. 4l2]S grains OF
standard silver. BY comparing the num-
Der of grains of pure gold in the gold dol
lar with the number Of grains OF pure sill
YER In the silver dollar it will be found
that the ratio of weights is nearly to 16
The stamp of the government makes
each of these CONS dollar irrespectively
of the intrinsic or market value of the
metal which they respectively contain
valued as metal. The silver-coined dollar
is worth as much at the United States
| Treasury. in the banks, and in the com
merce of this country as the coined gold
dollar. The silver American dollar /:
worth dollar all over Europe when used
"a money. less q small percentage sufficient
| to pay the cost Of shipment TO the United
| States.
The par value of the silver metal, in
dollar is. of course. 81, which makes al
ounce of silver worth, at par, sl.29. But
silver metal uncoined has, under the effect
of the legislation of our own Congress
twenty years ago and of similar policy
| pursued on the Continent OF Europe since
fallen below the par value of the metal
The last quotation of the price of silver III
London was 39s4d.. or 7914c. per ounce
at which rate the metal price of the silver
| metal in dollar Is less than zoe.
As to bullion of either metal our coin.
age laws allow the owner to have it cast at
the mint into bullion of pure or standard
metal at his option. We suppose 1t Is more
often cast into pure metal than standard
When the bullion is shipped TO Europe II
Is worth over there the market price OF
the pure metal prevailing there, and when
American coins are shipped to Europe as
bullion for the same purposes for which
bullion Is shipped they are rated on the
market there only as bullion.