Freeland tribune. (Freeland, Pa.) 1888-1921, 1896-01-13
MONEY In MAKING CENTS
THE LITTLE COPPER COIN HAS
TAKEN A NEW LEASE OF LIFE.
Uncle Sam Makes a Profit of 1870 on
Every Million 900
Arc Turned Out Daily.

has entered upon new era
i of usefulness according to the
authorities of the Mint at
Philadelphia. The Mint has been
turning out pennies lately at an as
tonishing rate, says the New York
Journal. Ever since September l
three presses have been working eight
hours O day stamping Uncle Sans de-
sign upon little disks of bright new
copper. The average daily output has
been 150, 900 cents This represents
profit to the Government per diem of
a trihe over $130.
There is money in minting cents
from the Governments point OF view.
The copper "blanks" are not made by
the Treasury, but are bought under
contract. They are turned out by a
firm in Waterbury, Conn, and they
cost Uncle Sam only $1,000 per mill
ion. In other words, for seven and
three-tenths cents he obtains material
which by simple process of stamping
is transformed into the worth of 81.
The profit ON each 1000, 900 cents is
sued is $S70.
Until within the last few years the
blanks for cents and nickels were made
at the Philadelphia Mint, but it was
found to be more convenient and
about as cheap to purchase them from
private parties. The contract for pro-
ducing them is awarded annually to
the lowest bidder, and on this account
their cost varies somewhat from year
to year. These coins are considered
merely US tokens, and their intrinsic
value is Of no consequence whatever.
They are neither counted nor tested
by assaying at the Mint, being weighed
in bulk only.
One pound avoirdupois of the blanks
for cents costs the Government twenty
cents, and makes 81. 40 worth of pen
nies when coined. In other words,
there are 146 blanks to the pound.
The blanks are shipped to the Mint in
strong wooden boxes. They are ex-
tremely pretty, looking like so much
gold when bright and new. In fact,
visitors to the Mint frequently mis-
take the contents of boxes that stand
open for gold, and it is u common
thing for them to say that they wished
they could be permitted to take away
all that they can carry. This oft-re-
peated remark always excites smile,
inasmuch as the strongest man could
not carry 800 worth of the blanks
without great difficulty.
All of the United States cents are
made at the Philadelphia Mint.
During the last fiscal year 6,0I4,277
of them were minted. The produc-
ton of cents rose three years ago to
nearly 100, 900, 900 for twelve-month.
A steady stream of these little coins
flow from Philadelphia to most parts
of the country, though in some locali-
ties they are not circulated at all.
But it often happens, as at present,
that the demand exceeds the supply.
The odd prices fixed by dry goods
firms nowadays have something to do
with the unusual demand, inasmuch
as they require the making of small
change on nearly every purchase.
Such prices seem to have an attraction
for the public, and particularly for
women, who are apt to buy an article
for 81. SO when they would not pay so.
Then, again, the slot machines absorb
an immense number of pennies. But
after all the movement in favor Of
cheaper newspapers has done more to
place the little old red cent on plane
of respectability than any other
agency.
Very few pennies come back to the
Mint for remelting. The stream of
coppers flows out continually, but its
history is like that of many rivers in
Western deserts, which are lost finally
in the sand. Nobody knows what be-
comes of the millions on millions OF
cents that are minted annually; they
simply vanish out of sight and are
gone forever. The phenomenon seems
u strange one, but it is easily account.
ed for. Pennies are subject to more
accidents than any other coins; they
change hands ten times as often as
dimes, it is reckoned, and being of
small value, they are not cared for.
People say: 'What becomes of all
the pins?" The answer is the same in
hot