Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-14
MILLIONS PROFIT ON COINAGE
UNITED STATES MINT MADE
JUST $1O,541,371.
Nation Has One-Fifth Of Gold and
Silver Circulation of World.
Money Made for Mexico.

The government made a profit during
the fiscal year ended June 20. 1903. of
s1o.o41,a71 on the coinage of silver. nickel
and one-cent bronze pieces. This repre-
sents the difference between the price paid
by the government for the metals and
their coinage value.
Director of the Mint Frank A. Leach
gives these figures in his annual report,
made public today:
The original deposits OF gold bullion in
the minis and assay Offices during the
fiscal year amounted to Sco7 Az, 1854. I'M
current United States gold coin of the face
value of $4Ooo,G0s was received for re-
coinage.
Silver bullion purchased for subsidiary
silver coinage during the year aggregated
lS.S19219 standard ounces. Mutiiated ana
uncurrent United States silver coin of the
face value of 81 ,1G2,9s2 was received for
recOina2e.
There were purchased 535,S3' ounces OF
silver bullion for the Philippine govern
ment The cost S2!5 054. was REIN
bursed to the United States by that gov
eminent.
Coinage During Year.
The coinage executed by the minis dur
ing the fiscal year 1908 amounted to sl97,-
in double eagles and 81 So. 0G0 in eagles
of the designs prepared by the American
sculptor, the late Augustus Saint eau
dens.
The amount of subsidiary silver coinage
was Sit, 53O417. This is the largest sub
sidiary silver coinage executed in any one
year since 1877, when the government
was preparing for the resumption OF
specie payments, issuing subsidiary silver
fractional
rency.
The amount of minor coinage executed
was $1,946,0US.
There were coined for the government
of the Philippine Islands 25.0O3,9l5 pieces
of silver coin of the value of 1871 1913
pesos, and for the government of Mexico
1887, POI silver fifty-centavo pieces.
The director of the mint estimates the
production of gold in the United States
during the calendar year. 1907, to have
been S3O.43o tH'. and silver for the same
period, ;Jd, 514,7O0 fine ounces OF the COM
mercial value of 1893. 700 at the average
New York price of silver for the calendar
year 1907, namely &C cents per ounce.
The director estimates the production of
the precious metals in the world during
the calendar year 1907 to have been $40
200 In gold and 1SJ.O14.623 fine ounces
of silver of the commercial value Of $12..-
GUOOO at the average price of silver for
the year. The increase in the production
of silver for 1907 over 1905 was 9,26O, 900
Hne ounces
Gold and Silver Used in Arts.
The consumption of the precious metals
in the United States in the industrial arts
during the calendar year 1907 is estimated,
IN gold, $40, 727,O1O. and in silver, 24,369-
7s4 fine ounces OF the gold consumed in
the arts $33,549, 400 was new material
and S7,177,575 in old. OF the silver used
in the arts ~, 137 .24s fine ounces were new
material and :, 3D. 541 fine ounces old
The total receipts of the mine service
during the fiscal year 1908 amounted to
$1O,9i2.WO. or this amount $s,7134l3 was
profit on the coinage of subsidiary silver
and 81 .527 1913 profit on the manufacture Of
five-cent nickel and one-cent bronze
pieces.
There were collected from the govern
ment of the Philippine Islands charges for
the execution of coinage for those islands
amounting to sos 22S7 and from the Mex
lean government for coinage executed for
$4S9. 127 being derived from charges on de-
posts, the manufacture of medals and
from miscellaneous sources.
The stock of gold coin in the United
States June 80 last is estimated at 81, $780,
169.32S. silver coin, $115,615 $50, including
$56S. 259S12 in silver dollars gold bullion
held by the Treasury, $79,3T1 ,247. and the
silver bullion Cost value) S7,113,0GO.
The stock of gold coin in the world jan
uary ! last is estimated at $7.O14. 900 OOO;
silver coin, 81. $50 IOO.CW and the uncov-
cred paper Sl,:1O2 $50 900.