The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1894-07-05
COIN FROM JEWELRY.
One Of the Secrets Of tho Pawn.
brokers Trade Revealed.
Unredeemsd Pledges Melted Up and
Sent to tho United states Treasury
and Returned In the shape
of la0ld Coin.


chimes going at least once q week in
this city that the public never heard
about before. When you understand
it you will be able to tell your friends
what becomes of the gold and silver
they leave with their uncle and never
redeem. On the dead now; don't
give me away and will tell you some
of the secrets of the pawnbrokers'
trade"
The remark, says Chicago inform
ant, was made in little dark room in
the rear of one of the big loan offices.
The proprietor went on to say the re-
ports show that ten to fifteen per
cent. of all articles placed in ''hock" is
never called for. Then often gold and
silver is purchased outright by the
pennyweight or ounce, and in one way
or another a large amount of the pre-
cious metals is accumulated. To turn
old-style goods into ready cash is the
problem that confronts the loan
broker.
On the floor of the back room,
reached after setting half dozen
electric alarms going and the pressing
of numerous buttons, was peculiar
contrivance looking like six,inch tile
stood on end, with brass barrel COW
cred with pipes by its side. A copper
pan, some iron tools and some bowls
that looked like common flower pots
lay on the floor.
This copper barrel" said the propri
etor. lis filled with naphtha; these pipes
lead to this tile or furnace; this handle
here is for the forcing of air behind
the naphtha SO it will make a strong
blast; these pots are crucibles. Into the
furnace we place the crucible, into the
crucible goes the gold. Hot, isn't it?
So hot that we are compelled to wear
colored glasses to see what's going on.
But that's nothing to the way the
thing is done in Uncle Sans furnaces.
Now here goes to fill the crucible."
Into the stone jar went gold watch
cases and chains with family histories,
crests and initials, souvenir spoons
and breastpins of forgotten dates,
rings that could have spoken of we'd
ding bells and birthdays in the long
ago, golden charms, scarf pins with
the jewels removed, and odds and ends
mated value of the hatful of stock was
one thousand dollars in pure gold.
Into the melting collection went lot
of borax. This was to make the gold
flow when sufficiently melted. There
was no smoke, nothing but sickly
smell of naphtha, the noise of the blast,
and the glittering whiteness of the
crucible.
To get closer look at the melting
gold pair of green eyeglasses was
furnished. AS the broker stirred the
contents of the crucible with an iron
poker black bubbles would come to the
top, pieces of coarser metal would be
seen struggling to the surface only 10
sink back into the yellow gold now
turned to fluid. The broker lifted the
crucible out of the furnace and poured
its white hot contents into an iron
mold. The mold rested in pan of
water All the gold settled into the
mold and the borax, turning black as
it hit the water, staid on top. In few
minutes the borax was knocked off
and out fell a bar of gold weighing sew
eral pounds, eight inches long and
probably threefourths of an inch
square. After cleaning the bar was
laid aside for shipment to the treasury.
I'VE do this once week." said the
proprietor as he shut off the valve to
the naphtha barrel. From here the
bars go to Washington by express. Be
fore its value is returned we will pay
out nearly four dollars on one thou
sand dollars. At Uncle Sans works
the bar will be remelted by fercer
heat. Then the melted mass will be
| poured into water, where il will form
into shot or pellets of gold and silver
and copper These pellets are then
| placed in acid and the different met
ais separated. No, you can't fool the
| government for "A minute. Science
does the work in good shape. After
| this process the treasury ships gold
| eagles for the gold and silver coin for
| the silver metal contained in the bar.
so you see the old battered watch case,
| broken chain, or out-of-date ornament
| comes back in new coin of the realm
| Over two hundred thousand dollars
worth of gold bars is annually sent
from Chicago brokers in just this way,
| oAii hoe ohC PclSoii
ever sees how the melting is done. OF
course many gold coins are made into
jewelry, and in course of time are sent
back through our crucibles once more.
This is on account of change OF style
in gold ornaments of all kinds which
is constantly going on. Any profit?
o, yes, we figure all such things. An
| article pawned means to us only its
weight in the crucible with profit de-
Quoted. This profit may be six or ii
may be twelve per cent. A chain
weighing ten dollars worth of gold we
buy for eight dollars and fifty cents OF
some less. The one dollar and fifty
cents is for profit. handling and the
risk. Yes, it's quite a business. and
many family history has been told in
the golden heirlooms that have fallen
into loan brokers crucible."
Greateat preaaura nt "A Roa.