The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-11
FACTS ABOUT COINS.
Government Loses Money Preparing
Gold Currency.
Boston Herald.

A strange thing about our coming system
is that the government loses money in coin
ing gold, but makes a big profit in coming
pennies. For instance in a $40 gold piece
there is exactly SO worth of gold and 10
per cent OF copper-put into 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
$500 per million. That is, the United
States government obtains for $40 cents
the copper blanks which by the process of
stamping are transformed into 81 worth of
pennies.
What becomes Of the millions of pennies
coined each year by the government is an
unsolved problem. To supply the demand
the mint at Philadelphia must keep on
turning out 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 OF
silver in the ore and is bought by agents
who sell IL 10 a firm In Waterbury, Conn.
who are under contract to supply the gov
eminent with copper blanks-that is pen
MES unstamped. At Waterbury the new
copper is melted and mixed with tin and
zinc, according TO a recipe prescribed by
the Treasury Department at Washington.
and then hardened into bricks. These are
cut into slices the thickness of a 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 I'D in strong boxes and sent
by express TO the mint at Philadelphia,
where they are stamped with the head on
one side and the denomination on the
other
In 1T76 was coined a New York cent. The
intended for General washington in the
costume or the continental army; encircling
II is the motto, Non vi VIRTUE Vici"
The reverse has the figure Of Liberty, seat
ed on pedestal, holding in her right hand
a stan surmounted by a liberty cap and in
her left the scales of justice, Around the
Cnf IN ID %
with the date in the exergne. 1855.
The vermont cents were coined for four
successive years. One variety has on the
diverse an eye with rays extending from il
which are divided by thirteen stars; around
the coin are the words "Quorta Decima
Stella" reverse, the sun rising from behind
the mountains, pillow in the foreground
with the legend Vermont Ersium Res
Publica,'' with the date 1875. Another type
has on the diverse poorly cut head with
the words Vermont AuctOri' on the re-
verse "Inde ct Lib" with the date I7SS
Another with the same legend reads EFT
Lib Inde, 17SS-"
1888 and lISl. The diverse has a head
with the words 'Auctori Connec" on the
reverse a hgure 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, fifteen stars in the form OF a 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
In 1lS4 the commonwealth of Massachu-
sets ordered from its mint a copper coin
having on one side an Indian with his bow
and arrow. near his forehead a star and
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 a shield on which is inscribed the
word Cent" and around the edge of the
coin Massachusetts, 1851" Half cents of
the 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 coining money. the mint was abol-
ished. The mint was established by vote
OF the Massachusetts Assembly In 1855. and
$4,000 In cents and half cents were ordered
10 be made. Part OF the works and ma
chinery for the mint was erected at Bos-
ton Neck and part IN Dedham.