The Coalville times. [volume] (Coalville, Utah) 1894-1923, 1900-03-09

MINT CHARGES foR REFfNiNo
Change OF Rate, Leads 10 Misconception
Of the facts


Change Of Rate, Leads 10 Nisconception
Of the Incis
ono Of the Denver papers recently |
stated that the miuts Of the country |
we're now buying ore containing %
much larger percentage NJ silver thnh |
avcr before. The Mining and Scichtiic |
Press of san Fiancisco says, REGARD |
ing this.
The statement Is misleading, MS 1t
implies, practically. the free coinage OF
silver without an act OF Congress To
authorize a.. The matter was referred
10 Mr.. Charles g.. Yale. the statlstician
Of the United States mint at san
Francisco who shows That the minis
and assay offices have always received
bullion Of 6OO fine and over and have
paid the dcposltor for his silver NJ The
cate fixed by the authorities IN wash
ngton. which Is "a present 53 cents
per ounce. ana for the gold at It's fun
value. They also receive and part
bullion Of 300 tinc. hut do not receive
and purchase a.. For the sllvcr In these
low-gmdc deposits the deposition Is
| given fine silver bars for the amount or
| fine silver In his deposit. hut the gov
eminent does not purchase the silver
or give coin for H. rs II does In the
case OF bullion NJ 500 fine. The only
/ change made has been IN the charges.
The item referred to was based prob
/ ably on a misunderstanding ~ the re-
| Gently revised charges FOR melting. re-
/ filming, etc, at United States mints ana
assay offices rs fixed 10y the director
OF the mint aud approved by the sec
rotary of the treasury last month.
The rates under this new schedule
show large reduction In the charges,
and II will naturally b. n matter OF In
tcrost to mining and mill men to know
exactly what thcsc are.
As 10 the melting charge, charge or
81 In Imposed for each melt OF hulllon
except In the case OF unciirrcnt United
States coin and iinc mint bars.
For parting AMI refining bullion. the
rate per ounce gross Is ns follows:
On silver bullion containing less than
800 thousandihs OF gold. thrce-fourths
OF 1 cent per ounce herci0fore this
has been cents per ounce. on bullion
containing from 300 10 500 thousnndths
Of gold . cents per ounce; on bullion
containing over 800 thousandths Of
gold ( cents pcr ounce. Silver allowed
the dcpositor Il calculated on the basis
Of refining the gold 10 900 thousandths
When bullion contains less than three
tcnths Of a thousandth Of gold II Is moi
reported for the benefit OF the dcpOs
ltor. Base bullion containing less thar
300 parts Of gold per thousand pays o
charge OF . or 3 cents per ounce, OF
such material may he declined, at th'
discretion OF the chief officer. II til,
alloy be all good copper when but on'
OF the precious metals Is present, tn
charge may be y cent per ounce.
For refining silver the rate per ounce
gross Il ms follows: A refining chnrg
OF thrce-tenths OF cent per ounce I
! imposed upon silver bullion free from
, gold nssaying from pos TO 00Sls. an'
n charge OF four-tenths OF cent npol
, such bullion assaylng from $50 TO 09Ii.
: Bullion below $50 Is subjected to tn
, parting or refining charge OF three
fourths OF cent per ounce.
' The "toughenlng" charge is made I
: cover the cost OF hitting brittle nm
. bars for coinage operations, ANA IL nc
l Imposed upon impaired bars except !
0 special cases. where II Is necessary
I tougher an impaired bar returned
Q the deposltor, or when the bullion col
< lnlns irldosmlne etc. This charge
4 on gold bullion Y cent 10 2 cents p,
!. ounce gross and silver bullion q Gel
o to " cent per ounce gross.
}. The bar charges ON bullion deposltC
d for fine bars not required 10 he parte
d or refined, and for standard or unpar
o cd bars, are as follows;
% Bars OF fine gold per 500 value, 4
II Bars OF fine silver per ounce, X cen
y Bars OF standard gold per 500 valu
L 10 cents.
= Bars OF standard silver per oun,
gross, y cent.
d Bars OF impaired bullion per oun
n gross, y cent.
D. Small gold bars 0ess than $1,000,
r. cents per 500.
u Small silver bars Qess than i
Is ounces), 4 cent per ounce.
$. The copper alloy" charge II . cen
n per ounce for the copper required.