Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-07-20
NEW COINS FOR OLD.
4 BIG BUSINESS IN SMALL PIECES or
MONEY At THE TREASURY.
The Story Of Redemption Told ~ the
Chief Of the Coin Depsrtnsnt In the
New York subtrsasury- Num-
Der Of Cents and Nickels Used.

Der Of Cents and Nickels Used
"Chink, chink, chink, chink, slide"
The sound Is made infinitely quicker
than 1t takes to write or speak the words
1t Is heard In the minor coin department
In the treasury building. where all day
long the chink, chink, chink of nickeis
and pennies Is sounded as they are counted.
weighed and tied securely into bags ready
for the calls for small coin that are con.
SANITY coming In.
"There really are no pennies" said r.
c. Half, chief Of the department, to an In.
terested visitor the other day. pennies
arc English coins, and we have cents, but
common usage has made the word ours
and we seldom say anything else. We have
three men who do nothing but count pen
MES all day from o'clock In the morning
until o'clock in the afternoon, stopping
half an hour for luncheon.
"There are five counters kept constantly
busy, the work varying a little according
TO the proportion Of pennies and nickels
brought in during the day. 1t takes three
minutes to count !, 900 coins. The pennies
are put up In bags containing $40 each.
The same number Of nickels Is also put In
to bag. The whole process takes five
minutes, including cutting the string to
the old bag, counting and putting the
coins into the new one tying that and
fastening on tag giving the amount and
tho counters initials, which is necessary
In case Of error, which is in this way traced
back TO its proper source.
you see,' said Mr.. Half, "the man
takes two coins at each count. That II
quicker than taking one and easier than
three or four. He counts one for every two
pennies dropped into his hand, so that
when he has counted 100 he has 200 pen
mics, or e.. The counting Is not done with
the lips. 1t would not be possible to move
them quickly enough to keep up with the
rapid movement Of tho fingers
when a man begins counting, he can
count ten bags day, or ten times !, 900
coins BY the time he has had six months
experience he can count 60 bags day
1.-THE white pennies, mashed N mutt
lated coin, or eventhose that are soiled or
corroded, are thrown aside and sent off to
be melted over. The idea is to keep as
clean money as possible in circulation.
When the count Of each bag Is concluded,
the mutilated coins thrown out must be
replaced by good ones. This does not in
clude plugged, counterfeit or foreign coins.
made good.
"There is a greater demand for pennies
than for nickels. This is owing largely to
this catchpenny business, charging 40
cents instead Of so cents, ETC. One large
dry goods firm up town which sells great
many small wares gets in regularly about
$500 in pennies a day for making change.
Tho firms bankers come here about once
in two months and take away IS, 600 In
pennies, which they keep in their vault
and hand out to this one firm as they are
needed.
Other dry goods houses como here d.
rectly for their pennies which they use In
quantities of from $500 to $500 a week
Thcre is $3.50 in pennies that has Just
;ome In from an ice cream firm, waiting
% be counted. One days record Of our
work shows 50, 069 taken In in pennies and
-, $50 in nickels. We seldom take in less
han 81, 200. We receive a great many
lickels from the elevated roads Yesterday
hey brought in SIC, 600 in cent pieces to
'e exchanged, and last Friday they brought
n $685. 600 in the same way They come In
very day. 1t shows the number of nickels
n circulation on the road when you think
# the quantity also given out in ex-
hange."
Mr.. Half was not idle as he talked. and
! continuous string of callers at the little
window at the front of the department re-
eived pennies and nickels in VARYING
You see, people arc willing to give
'old for "copper" he said as he dropped
'old $50 piece into the box and handed
nut two bags of pennies.
"Oh, yes; people bring very small sums
o be redeemed. have had brought in a
lack cent piece, and the person bring
ng 1t had come from away up town. Pos.
IDLY he had some other GRAND besides
reat many people think because the
money is old we will give more than it,
ace value. People have heard that the
ehhles OF 1870 were mixed with gold and
Apect TO get price on them greater than
heir original valuation. One man told
le that he had penny of that date A.
ayed, and 1t was worth 81 cents. They
hihk the cent pieces on which the word
'ents was omitted should bring mora
honey. 1t is the Same way with FRACTIONAL.
- - y.
:. There; that was case In ouestion
nat man had some old scrip. and "a
'ouldnt believe me when told hints
as not worth more than It's lace vsIue
70 nus gone OH TO inquire. - 3
1t is estimated that there tsiIl5. o), ooo :
nall scrip unredeemed. Probably q. 0fo
" OF 1t has been destroyed. Here comes
lat man back. -
do has gone off again to count his
'oney: There is 1885. L counted a.
'refully, but he was not satisfied"
Ihcn for third time the stranger an
jared and departed for good with hi. m
} date coine. w
The brokers those people 20 tn . con
nued Mr.. Half, will only give tber, 90
Or cent OF tho face value of their onrrano %
hey bring IL to us and expect TO mara
Tue something for their trouble. Mar.
'opio are annoyed because we will NOT -
eem mutilated coins. 1t Is government.
lohey, they say, and the vovernmsns
louid DC responsible for it. But whan ~
makes it punishable offanss
mutilate coin it is not going 10 ,I.'.
'ou money for 1t. New York T;mas
How She Won Him.
, tlrst Coming woman-That M,ss ~