Blackfoot news. (Blackfoot, Idaho) 1891-1902, 1900-03-31
MINT CHARGES FOR REFINING.


Change of Rates Leads 10 Misconception
of the Facts
One of the Denver papers recently |
stated that the mints of the country |
were now buying ore containing a |
much larger percentage of silver than |
ever before. The Mining and Scientific
Press of San Francisco says, regard
ing this:
The statement is misleading, as ii
implies, practically, the free coinage of
silver without an act Of Congress TO
authorize it. The matter was referred
to Mr.. Charles q. Yale, the statistician
Of the United States mint at San
Francisco, who shows that the minis
and assay offices have always received
bullion of 500 fine and over and have
paid the depositor for his silver at the
rate fixed by the authorities in Wash
lngton, which is at present 53 cents
per ounce, and for the gold at its full
value. They also receive and part
bullion Of 800 fine. but do not receive
and purchase It. For the silver in these
iow-grade deposits the depositor is
given fine silver bars for the amount Of
fine silver in his deposit. but the gov
eminent does not purchase the silver
or give coin for il, as 1t does in the
case Of bullion of 800 fine. The only
change made has been in the charges.
| The item referred to was based prob
/ ably on misunderstanding of the re-
] Gently revised charges for melting, re-
/ filming, etc, at United States minis and
\ assay offices as fixed by the director
I OF the mint and approved by the Sec
rotary of the treasury last month.
! The rates under this new schedule
show a large reduction in the charges,
1 and it will naturally be a matter of in
4 terest 10 mining and mill men to know
/ exactly what these are.
AS TO the melting charge, charge of
81 is imposed for each melt of bullion
except in the case of uncurrent United
States coin aud fine mint bars.
For parting and refining bullion. the
rate per ounce gross is as follows:
On silver bullion containing less than
300 thousandths of gold. three-fourths
of l cent per ounce heretofore this
has been 2 cents per ounce: on bullion
containing from 800 TO 500 thousandths
of gold. cents per ounce; on bullion
containing over 500 thousandths OF
gold, 4 cents per ounce. Silver allowed
the depositor is calculated on the basis
of refining the gold TO 900 thousandths
When bullion contains less than three
tenths of thousandth of gold it is moi
reported for the benefit of the depos
itor. Base bullion containing less thar
800 parts Of gold per thousand pays 9
charge of or cents per ounce, oil
such material may be declined, at tn,
discretion of the chief officer. If tbs
alloy be all good copper when but on'
of the precious metals is present, thu
I -, H. I
For refining silver the rate per ounc,
gross is as follows: A refining charg
of three-tenths of a cent per ounce i
imposed upon silver bullion free from
gold. assaying from 99S to 99Sik, ans
charge of four-tenths of a cent upol
such bullion assaying from $50 TO 991i.
Bullion below $50 is subjected TO tn
parting or refining charge of three
fourths of a cent per ounce.
The 'toughening" charge is made t
cover the cost of fitting brittle lin
bars for coinage operations, and is no
imposed upon impaired bars except il
special cases, where it is necessary I
tougher an impaired bar returned t
the deposition, or when the bullion con
tains iridosmine, etc. This charge
on gold bullion n cent to 2 cents pc
ounce gross anu SILVER Dulilon "A cen
TO u cent per ounce gross.
The bar charges on bullion deposite
for fine bars not required TO be parte
or refined. and for standard or unpar
ed bars, are as follows:
Bars of fine gold per 500 value, A.
Bars of fine silver per ounce. Il cen
Bars of standard gold per 800 valu
10 cents.
Bars of standard silver per ounc
= gross, y cent.
q Bars of impaired bullion per ounC
g gross, u cent.
: Small gold bars Qess than $4,000,
= cents per 500.
II Small silver bars Qess than 1.
= ounces), Il cent per ounce.
lie The copper alloy" charge is 2 cen
IS per ounce for the copper required.
10 / 9 " STnCI