Indian chieftain. [volume] (Vinita, Indian Territory [Okla.]) 1882-1902, 1894-08-16
sPANisH DoUBLooNs.
An Englishman's Clever Imitation OF a
Rare Coin.

M AltNtF limitation OF n
Rare Coin.
The coins were made on hand ma
chimes, about the year 1921, by an En-
glishman named Peach, assisted by
boy; these two persons were the only
parties acquainted with this singular
episode in numismatic history. The
doubloons were of the standard quail
ty and weight, of seventeen penny
weights eight grains, and of the type
of "Carolus I'LL, the die being made
identical to that of the original pieces.
At that time there was a spasmodic
scarcity Of these pieces in the market,
occasioned probably by some war in
the Spanish settlements, and they COM
manded a premium Of from two dol
lars to two and a half dollars apiece.
The business continued for about ten
months, at the end Of which time. the
demand being supplied, they were no
longer sufficiently profitable.
From two hundred 20 three hundred
pieces were struck per day. Gold Of
about double the weight required was
put into the melting pot and afterward
cast into an ingot. The work was done
in New York city.
After being completed the coins were
placed in small barrel with sawdust
and revolved by a crank running
through the center OF the barrel; this
bruised them a little, took off the fresh
look and gave them the appearance Of
having been circulated After being
taken ont Of the barrel they were placed
separately on large sheet Of iron
which was put over charcoal furnace.
The result Of this roasting was 20 tar
nish the bright gold piece all around
the edge and give toit the stained effect
caused by bilge water on board ship as
all Spanish coins at that time were gen
orally transported for better security
in the holds Of sailing vessels.
Thus The new dor blooms were sue
cessfully made Of pevfect weight, fine
ness and design, and had every appear
ance Of having been circulated and also
crossed the sea.
They were sold in Wall street, bring
ing the regular market price Of similar
pieces, and they were so deceptive that
no questions were ever asked as 10
where they came from. II was hand
NbAANAAh hAolhtnnf bhiNhdHAHk Aut Ebih
as required, allowing about an ounce
per piece, and selling them as fast as
compl leted. Thus the same little in
yestInent Of capital was turned over
and over, the average amount being
about two hundred pieces per day, az
seventeen dollars each. II was an open
business, and, although for time kept
quiet, was not considered a secret; IL
was simply a bright idea 10 make
money out Of an emergency OF the
times Finally, IL leaked out, and
the authorities, hearing Of this, sent
High Constabls Jacob Hays and anoth-
er party 10 investigate. Hays clustered
great deal about the question Of the
legality of the business and made him
self very important and somewhat OH
noxious.
They examined the pieces, saw the
process Of manufacture. and sent sew
eral of them 10 the Philadelphia mint
They were there assayed weighed and
pronounced in every way up TO the
standard, and, therefore, no action
could be taken by the government.
This transpired before the establish
ment Of any international monetary
laws, such as we now have, so, as the
pieces were no fraud and not money of
the United States, they did come under
the existing laws regarding counter
feits.-The American Numismatic and
Archaeological Society OF New York.