Evening star., 1902-08-04
FACTS ABOUT COINS
GOVERNMENT LOSES MONEY PRE-
PAIRING GOLD CURRENCY.
Baser Metals Return Fair Profit Over
Cost of Manufacture-Pen
in Colonial Days.
From the Boston Herald.

From the Boston Herald.
A strange thing about our coming system
Is that the government loses money in coin
ing gold, but makes big profit in coming
pennies. For instance, in a SO gold piece
there is exactly $40 worth of gold and 10
per cent of copper-put in to harden the
precious metal-besides the cost of minting.
A silver piece of money is about half profit,
but the penny pays Uncle Sam best of all.
as the blanks are purchased at the rate of
81 300 per million. That is, the United
States government obtains for I $40 cents
the copper blanks which by the process of
stamping are transformed into 81 worth of
pennies
Millions of Pennies.
What becomes of the millions of pennies
coined each year by the government is
unsolved problem. To supply the demand
the mint at Philadelphia must keep on turn
ing out new pennies at an average rate of
100000 per month. This useful little coin
has its beginning, of course, in a copper
mine. BY the process of smelling the cop
per Is separated from the iron or lead or
silver in the and is bought by agents
who sell 1t to a firm in Waterbury, Conn,
who are under contract to supply the gov
ernment with copper blankS-that Is, pennies
unstamped At Waterbury the new copper is
melted and mixed with tin and zinc, accord
ing to recipe prescribed by the Treasury
department at W aShlngtOn. and then hard-
ened into bricks. These are cut into slices
the thickness of cent and the strips are
passed through machines with punches that
work up and down with enormous pressure
and stamp out the little round disks just the
size of a penny. These blanks are put up In
strong boxes and sent by express to the
mint at Philadelphia, where they are stamp
ed with the head on one side and the de-
nomination on the other.
The New York Cent
In 1776 was coined New York cent The
diverse bears bust supposed to have been
intended for General Washington in the COS
tune Of the continental army; encircling it
Is the motto. Non vi VIRTUE Vici" The re-
verse has the figure of Liberty, seated on
pedestal. holding in her right hand a staff
surmounted by a liberty cap and in her left
the scales of Justice. Around the coin are
in the exergne. 1856.
The Vermont cents were coined for four
successive years One variety has on the
diverse an eye with rays extending from II
which are divided by thirteen stars: around
the coin are the words "Quarta Decima
stella: reverse. the sun rising from behind
the mountains, plow in the foreground.
with the legend Vermont Ersium Res
Publica.' with the date 1855. Another type
has on the diverse a poorly cut head with
the words Vermont Auctori" on the re-
verse "1nde ct Lib, with the date 17SS
Another with the same legend reads "Et
Lib Inde, 17SS.''
Connecticut Coinage.
The Connecticut cents bear date 1Ts5.
1855 and 11S1. The diverse has head
with the words "Auctori Connec" on the
reverse figure of Liberty holding a staff
In one hand and an olive branch In the
other. surrounded by the motto "Inde ct
LIB and the date. There are many va
rieties of this cent. all of which are very
poorly executed.
Without date is a cent having on one side
the motto "Unanimity is the Strength Of
Society encircling a hand holding a scroll
on which Is inscribed Our Cause Is Just"
Reverse. hfteen stars In the form OF tri-
angle; on the stars are indented the initials
of the several states Kentucky heading the
column. This was struck at Lancaster
england. In 1871 for circulation In Amer
lea and was called the Kentucky cent
Massachusetts,.
IN 1ISI the commonwealth OF Massaehu-
setts ordered from its mint a copper coin
having on one side an Indian with his bow
around the coin the word Common
wealth." on the other side the American
eagle, holding In his right talon an olive
branch, in the left a bunch Of arrows on
It's breast shield on which is inscribed the
word Cent and around the edge of the
coin Massachusetts, 1851" Half cents of
'he same type were struck. This coinage
was continued FOR two years, but upon the
adoption Of the Constitution Of the United
states, which prohibited the several states
from coming money, the mint was abol-
isheo Ihe mint was established by vote
OF the Massachusetts assembly in 17S8 and
10000 in cents and half cents were ordersd
TO be made. Part Of the works and ma
chinery for the mint was erected at Ros-
Ton Neck and part in Dedham