The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1895-01-04

CROOKED COINS.
Criminal Operations in Doctorine
Uncle Sans Currency.
How SkiIlfuI Msnipuiators Derive Large
Profits from Clipping. Saving,
Gouging, Boring and Gliding
Gold Pieces

e
Gouging. Boring and Gliding
Gold Pieces
One of the many unlawful schemes
to prostitute the coin of the nation has
recently been suppressed by eX-Chief
Drummond. 1t first came to my atten-
tion early last year, says New York
Herald writer. | refer to what was
known as the ''coin sticker," which
made possible the extraction of, with
ont discovery, part of the silver in
coin. The inventor of this coin
sticller," which was an advertisement
printed on paper to be pasted on coins,
sold territorial rights to print and use
it. The coin Sticker" cost the govern
mcnt a great deal of trouble and eX-
pense to suppress. On fifty cent and
one dollar coins was pasted the adver-
tiscments with "A paste of glue which
almost detied removal, covering the in
scription on the reverse of the coin,
deadcning the resonance and of course
enabling the swindler to take out part
of the silver and substitute base metal
Spurious coins of very common work
manship also passed readily with the
coin sticker on them.
There is great increase of late in
constantly studying ways and means
of stealing part of the genuine metal
from our coins and substituting base
metal One of the most successful
swindlers IN this line was a man named
Wilcox, who was recently taken into
custody in Chicago by secret service Of
hcerS. He made an average income of
from fifty to one hundred dollars a day
by clipping gold coins. BY cutting a
rim from around the coin, as a tire
might be removed from a wheel. he
took away from each twenty-dollar
gold piece an amount of gold not eN-
ceeding twenty-six. or twenty-nine
grains in weight. or the value of one
dollar. The subsequent rereeding of
the double eagle. done with a machine.
rendered it as perfect as ever to the eye
of the casual observer.
The apparatus was small and easily
packed, and on reaching fresh locali-
ty all that was required was quiet
room in an obscure street and a supply
of gold coin The latter he secured
from the bank. He would deposit
considerable sum of money, and after
awhile he would draw 1t out in gold.
The clipped coins were passed by Mrs.
Wilcox at dry goods shops mostly
One of the most interesting processes
consists in saving a double eagle in
two through the edge and gouging out
the inside. SO as to remove about fif-
teen dollars worth of gold. Thus the
piece is reduced to hollow shell in
halves. 1t is then filled with platinum,
which is nearly heavy yellow
metal and costs at the present market
rates. though this varies, somewhat
loss IL rh
for the purpose. The cut edge of the
reconstructed coin is disguised by a
rim of gold soldered on, and a reeding
machine renews the corrugations of
the minting. The result is really a
work of art, being a combination of
five different metals Only an expert
can distinguish anything wrong about
it.
4 method somewhat similar, though
less artistic. Is to substitute for the in
terror portion of gold piece core in
the shape of planchet of silver.
better plan, though somewhat labori-
Gus, consists in boring into the coin
from the edge so as to remove consid-
cradle part of its internal substance.
In this manner about seven dollars
worth of gold may be conveniently re
moved from a twenty-lollar piece, the
hole being filed up with metal com
position and soldered at the opening
with gold.
Fortunately for the currency, prac-
tically all the gold in circulation in the
United States passes every few hours
through the treasury and Subtrcas-
uries- Every piece received at those
institutions is weighed, and, if found
light in weight, is stamped with IA big
l." Such coins are redeemed aS
bullion. The loss to the government
,by wear and tear on silver coin in
circulation is considerable. 1t averages
three cents on every dollar. Last year
il amounted to S239, ,293.
The people have not all become
familiar with the faces of the new
silver coins. The diverse and reverse
of the older coins they have known SO
long and intimately that the draped
figure of Liberty and the majestic pose
of the eagle are fixed in their mind and
always recognized. but the new coins,
with changed designs, to which.
puzzling them more, We're added the
Columbus souvenirs. have not yet
established their identity.
The manufacturing counterfeiters,
quick to discover and take advantage
of whatever favors deception, almost
immediately followed the governments
issue of the coins of new design with
their fraudulent issue in likeness of
them, and reaped rich harvest be-
cause the originals were known, but
not well known.
The rs-cOunterfeiters, too
saw in the new twenty-tve-cent coin, If
gilded, a presentable, beguiling ten
dollar piece, and poclleted full per
centage of profit until discovered The
lack of weight should, of course, and
does make known the fraudulent
character of the gold coin. This last.
the gilders' scheme to falsify coin, as it
requires neither skill nor expensive
plant. and promises much for 50
little. is always a seductive one to the
unprincipled or weak of viii.
NOTES A-WHEEU.