New Britain herald., 1917-12-05
famine IN PENNIES
SURPRISES BANKERS
Government Has Coined More
Than Billion in Ten Years

New York, Dec. THE famine in
pennies recently reported from vari-
Gus parts Of the country is the more
surprising in view of the fact that
the government coinage of one-cent
pieces has been much larger in recent
years than in any earlier period of
the history Of the coutry. A COM
the history of the country. A COM
of New York shows that more than
one billion lone-cent coins had been
manufactured by the government ana
distributed to the people during tho
last dozen years. In fact the out-turn
of one-cent pieces in the last decade
forms one-third of the total since
the beginning of our present form Of
government
The banks statement on this sub
ject shows that the, number Of one
cent coins manufactured by the MINIS
Of the United States from 1898 to
the end of the fiscal year 1916 was
2,8O4, 900, 900, while the number issued
in the last decade alone is, in round
numbers, one billion. Even in the
single fiscal year 1916 the number Of
one-cent pieces coined was $780,
317, while in the high record year
1910 the total number turned out was
162.846,218. The number of pieces
coined never touched the 10000, 900
line prior to 1907, the total for that
year being 108,13s,618, and the an
nual average since that time has been
nearly 10O,00O.00O per year.
The number of one-cent pieces
coined from the beginning of the gov
eminent to date would, even if all
were in existence and circulation, al
low for each individual about 81 one
cent pieces. OF course, the number
actually available is far less than this,
for 1t is quite probable that out of the
"a billion one-cent pieces coined by
the government not more than about
billions are now in existence, or at
least In circulation, making the pres
emit average per capita for all the peo-
pie of the United States of about 20
one-cent pieces.
The coinage Of one-cent pieces be-
gan with the first years operation Of
the minis. the total number coined in
the first period for which details are
available 17935) having been 1,O66,-
033. In that same period there were
coined 142, 524 half-cent pieces. The
half-cent piece seemed to gain in pop
ularity in the imm ediately subsequent
period, for the number coined in the
period, 1804-1O, was about as great as
the number of one-cent pieces coined.
From that time on, however, the half
cent pieces apparently lost popularity,
for the minis soon suspended their
manufacture, though there were occa-
sional issues of limited numbers down
to 1860, at which time their COMA ge
was terminated. The number of one
cent pieces coined averaged less than
10 millions per annum down to about
1855. when there came a rapid in
crease, the number coined in 1857 be-
ing about Is millions; in 1860 over
20 millions: in 1864 So millions. Fol-
lowing the close of the Civil War, the
number again greatly declined, being
in 1870 less than millions: in 1880
SO millions: in 1890 Al millions; in
1900 81 millions; in 1906 SO millions,
crossing the million line in 1907.
and making the highest record in 1910
-152, 846, 218-while the total for the
fiscal year, 1916. was 1O1, 23O.317.
All of the one-cent pieces now is
sued by the government are of bronze
In the very early periods they We're of
copper, then for a comparatively short
time Of nickel, though the proportion
which the copper or nickel coins
formed of the total is very small, the
entire number of copper one-cent
coins issued having been 1928, 900,
nickel 200,772,OOO, bronze 2,446,711,-
900.
The "minor coinage of the United
States, including in that term the
half-cent, one-cent, two-cent, three
cent and f1ve-cent coins, aggregates
about billions in number Of the
hn 14%, ~.
indicated is about 2,8OO,OOO,OOO, of
which about 20O,O00.OOO were nickel
and 156,OOO,00O copper; of the two
cent coins there we're issued 45,6O1,-
600; of the three-cent coins $685.
900 made of nickel and 42,77O,oOO
made of silver; and Of the f1ve-cent
pieces the total number issued has
been, of nickel 891,818,OOO, and of
silver 97,604,000.
All token coins issued by the
government are now of bronze or
nickel. all of the one-cent pieces be-
ing Of bronze, all of the five-cent
pieces nickel. The use of silver for
the manufacture of minor coins was
discontinued in 1874
The face value of the token" coins
issued by the government (the one
cent pieces and five-cen nickels) is
of course much greater than the value
of the metal which they contain. In
fact, the profit on the manufacture of
these coins. together with a slight
profit on the manufacture of the
minor silver coins (ten, twenty five
and f1fty-cent pieces) is more than
enough to pay the running expenses
Of the mint