Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1902-08-21
COINAGE OF CENTS.
The Philadelphia Mint Turns Out
100000 Year.

100000 Year.
You would think that large post
Office would take in through its stamp
windows more pennies than it pays
out, but the contrary is the case said
a clerk in the Washington city Office.
L often have to exchange silver for
pennies in the afternoon with the
newsboys who sell papers on the front
steps of the Postoffice Department
building, and we are always ready to
accommodate the boys when they Of
fer their nickles and dimes. In this
way the pennies the people pay for
papers are at once thrown into the
mighty stream of circulation. as
often pay out over 800 pennies in
day more than | take in. In fact,
we at all times keep a reserve stock of
the little copper coin.
Yes, l know that many people sup
pose we receive pennies largely in
excess of what we pay out, the idea
originating, no doubt, because those
who hand in pennies for stamps NAV
suppose that majority of the sales
are thus paid for. | have sold a single
penny newspaper wrapper or a single
postal card and received a $40 bill to
change. In short, stamp window of
a postoffice is really a place for chang
ing bills of all denominations, and sill
yer coins, especially on the department
days, when the large bills drop in here
like the dry leaves in the fall
A Treasury official told the Star
man that there was a big demand for
pennies from all over the country, but
there was no scarcity of the coin.
During the last calendar year." he
said. I'VE put into circulation about
S75,000,000 pennies, and the average
weary output is about 100000 Be
ginning with August the mint in Phila-
delphia, which is the only mint where
pennies are coined, will begin to turn
them out by the millions to meet the
demand for the fall and holiday trade.
We have greatly increased our facili-
ties for coming pennies, and we now
have 10 presses for that purpose, as
we do not use the presses with which
we coin gold and silver pieces for
copper coins. We buy the copper in
strips by the avoirdupois pound, and
one press can strike off 100 a minute
or we can turn out in a day of seven
and half hours about 100000 pen
MES.
Pennies disappear like pins-no
one knows where they go, but they
go, as may be judged when it is re-
membered that we have coined in all
20 100000 pennies. The old white
eagle pennies, which few of the pres
ent growth of small boys have seen,
are redeemed when turned in and
made into nickel pieces, which, by the
way, are more copper than nickel, as
they are made of an alloy of rs per
cent. copper and % per cent. nickel.
Around the holidays and before the
coming of the circus into town the
pennies are boarded by the small boy
all over the land by the millions, one
Washington boy of my acquaintance
having dropped into his little home
bank Sc in pennies to go into a saw
ings bank. The railroad companies
and other corporations and firms
who receive pennies in quantities turn
them into the treasury in bags SUBJ
Ject to count, and they are redeemed
in currency. There are untold num-
bers of pennies all over the country in
banks of children, which are with
drawn temporarily from circulation.
People do not like to receive pennies
in change, yet, because they do not
like to carry them in the pocket,
often have to go out of their way and
to much trouble to secure them when
needed" Washington Star