The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-11-12
AN UNFORTUNATE COIN.
The SOrrowful History of the Sou
venfr Half Dollars.

NCnlG
Washington Star.
The order of Secretary Carlisle to use
the Columbian souvenir silver coins as cash
is the closing chapter in the history OF
efforts of the promoters of the exposition
to sell these half-dollars at double their
face value; with the general cooperation
Der OF leading stores in Chicago, New York.,
Boston, Philadelphia and elsewhere. about
1900, 900 remain unsold. and in the hands OF
the treasury authorities.
AT first Inc Chicago people pleaded SnIds with ttl1
at their double price, in hope of saving
the value. of those already sold. which
remaining coins were thrown into the or
binary channels Of trade. This was done.
days ago the projectors of the scheme mott
fed the Secretary that they could not do
anything. and that they would not. ask
Mr.. Carlisle s~hrewdly decided to do some
thing which would make the coins pay for
caused. So he ordered them. paid out at
par, but in exchange for gold coin, This
ulating a few enterprising retail shop
keepers to buy up the lot and advertise
change for their customers. The treasury
would by this means add a little gold to its
balance; .1hil h,y at -, the ht same time nos,t the coins ms
the customers attracted by the advertise
ments. and thus would be prevented from
passing into general circulation.
The collapse of the souvenir coin fad re-
calls the fact that a syndicate was formed
during the summer of 1893 for the taking
and disposing of 100.0 900 Of the half dollars:
Some large jewelry houses were interested
In the enterprise. which might have Grown
to larger proportions if any encouragement
had been received.
1t seems that a leading American jeweler.
while on a journey abroad, saw some of the
British souvenir coins struck in honor OF
Queen victoria's jubilee beautifully deco
rated with enamel and mounted as watch
charms, brooches; etc, he TOOK a. number
him last year and had them treated in the
same way.
One device was to cover all the body of
the diverse OF the coin with translucent
enamel. leaving the head of Columbus and
the inscription uncovered. In another the
reverse side was treated, the caravel being
coiored on the field against which ii was
| projected. No two designs were alike, and
the coins were eagerly snapped up at s.,
s. and even $40 apiece by curiosity seekers.
But no sooner was the formal proposition
made to take the 100000 coins out or the
custody OF the treasury for the purpose
| mentioned than the secret service people
pounced upon the interested parties and
warned them that every coin thus treated
and exposed for sale would be seized
No law against the mutilation of coins
appeared to stand in the way; but the ar
gument of Chief Drummond, as well as il
could be understood was that some evil
minded person might scrape off the enamel
upon unsuspecting poor persons. who would
then find themselves with a coin in their
possession bearing on its face the value
OF 80 cents, put on account of its mutila-
ton commanding in the market only its
| bullion value, which, with silver at it's pres
ent depreciation, would be only a quarter
of a dollar. The opposition of Chief Drum
mond, supported by Secretary Carlisle,
| broke I'D the Man.