Bisbee daily review., 1909-01-27
OLO MINER |S
 IN THE DARK 0N COINAGE
Figures That It Costs the Colo
 Producer More Than Sb Dollars To Have His Product
 Converted into a S20 Piece.

-ft t'Nlth mas ictttht1' Aht AOi-
 lowing from an "Old Miner" whica
 Is published Cor the information it
 contains, rather than for the purpose
 of giving aim further enlightment on
 the subject. Perhaps some of the
 Review readers may desire to answer
 the questions asked by "Old Miner Lowell. Arizona, Jan. 21. 1909.
 Mi. Editor Review Tisbee.
 Dear Sir.-YOu will please pardon me for coming 10 you for information that when once pgesepted through the e lumns of your most abia gaper. the Review. will have satisfied and quieted tho many readers Of your paper on
 this question wdich l an submitting to you, and you will please remember that tle old miner does not only en joy himself while gising value in tho 1 form of Sanual labor for a dollar in geld CT silver, but when he receives for his labor his pay in gold or silver he oltentimes inQuires of himself. "Wha- Is the worth Of this gold and silver and
 wbat dCss it cost the gold producer
 Miner to have a s20.O0 gold piece eCined. allowing refined gold to be
 valued at 30l.56 per pound as demon strated and claimed by The Western Actallurgical Company of Denver. Col ogaIo2 As represented by the Troy gold and silver table of weights Of
 gold and silver: there are F oz. or 4S0 grains in a pound. and should the
 miner deposit al any Mint in the United States 100 ounces of refined
 gold 10 be coined and in return re- ceiva from said mint loo ounces in ffnfu r,I Co the gold Ike has deposited iu said
 uinr and l understand such to be the
 custom in coining money-both gold and silver-the miner will then have
 paid the following rates for convert
 ing his refinad gold into coined metal
 As proof 10 my claim I take it for
 granted that the values of both gold
 aud silver are rated as one 10 the other in the ratio of l6 to I; and as
 the coined Standard dollar of the
 United States contains il2A grains of
 metal alloys and silver or 37lH
 grains of refined silver; then a gold
 dollar coined at the same ratio of 16
 Co ! will contain 25S4 grains Of coin
 geld or 23 l-21 grains of pure gold: consequently a s2o.00 gold pieces will contain % times more grains than a
 one dollar gold piece which proves
 the weight of the S2o.00 gold piece to
 bC 5l5 grains in coin gold; dad as the piece contains i6l grains iu bare O. rciines gold you can readily see the value of pure gold contained in the twenty dOllar piece and also the amount Of aA6y used in coiuinE it. and also what it costs to have ihc piece coined Example: If a polud
 Cf gold k worth 161-72Gc of ounce worth2 What is grain worth?
 And what is the intrinsic value ol pure gold contained in a S20.10 piece.
 An ounce Of gold is worth S3J.1l l.3
 4 grain of gold is worth 167-12Jc of
 cent and the value Of pure gold con
 tained in q S20.00 piece is i6l times j l61-f20 cents of cent which
 amounts 70 the sum of 24.12 S7-1S0 and
 still the commercial value of a twenty
 dollar gold piece is shown jo be twen- ty times more valuable than the one dollar gold piece formerly coined in
 the hints of t1e United States. In submitting my views O. th'S matter
 for criticism, I do so for the purpose Of receiving information that may per tain towards satisfying the curiosity
 Of al old miner as To what is meant by
 free coinage or gold and silver and
 also wherein does the depreciation of
 the value of gold lay when converting
 the giitreriug metal into a twenty dol
 lar gold piece. Of course it must be
 presumed that even if an old miner . $ somewhat ignorant of facts, he cer- ! 'ainly knows that twenty dollar gold
 piece is worth--commerciall twenty dollars. No more and no less
 anu still the Western Metallurgical Company of Denver. Colorado, as an authCrity values a pound of pure gold [ qt three hundred and one dollars and
 tnirty-siX cents. and if tIis authority can be relied on I then cl"'r' 'ha' 'T
 e5sts tire producers Of gold the sum If about six dollars and twenty cents % have a twenty dollar gold piece coined and I would also entertain the opinion that gold is of a Standard value the world over and when circum- stances in q commercial point ~F view 1ccur so as a premium on, gold flGc- uates the fIuctuat'On does not change
 tae Standard value of gold vhsfevcr In closing my letter Of inquiry for
 V .ormatiOB from the columns Of the Review take this opportunity Of h2nkine you Mir Editor for all favors | bestowed on an old miner who has read your paper with much interest. Truly yours.
 "OLD MINER