Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1922-02-09
SOME FACTS ABOUT COINS

lhe Coinage OF the new peace dOl-
lar, of which only 100000 are to be is
sued, recalls some interesting facts on
the various kinds of money formerly
in common use in this country which
have been withdrawn from circulation
and are now regarded as obsolete.
These include the old-time fractional
paper notes as well as number of
coins of several denominations, au-
thorized from time to time by Con-
gress, turned out for a while at the
mints and at last withdrawn.
The Treasury has been for years
redeeming much of this obsolete mon
ey, for year after year there is a
stream of it returning to the treasur-
er's office at Washington, amounting
to several thousand dollars every
year; the paper part of this currency
is destroyed, but nearly all of the
coins are sent back to the mints to be
melted and utilized as bullion.
The Treasury, of course, pays out
none of these out-of-date tokens of
value, as it is inteded to withdraw
this from circulation.
There are a few old coins, such as
the one-dollar and three-dollar gold
pieces, on account of their value as
relics, that are constantly being ap-
piled for at the Treasury. For that
reason they are being retained there,
and occasionally few are given out
at the discretion of the treasurer, and
only when they are intended as money
souvenirs of our metal money of the
past.
1t is noted that the one-dollar gold
coin was minted in 1S49, and that its
issue was stopped in 1890, mainly on
account of its smallness and difficulty
in finding it when mixed with other
coins. The three-dollar goldpiece
hardly known in this generation, was
taken out of circulation the same year,
1890, it is said, and caused more trou-
BILE than any of "Uncle Sans coins,
for it was so often mistaken for new
copper cent and spent as such, to the
subsequent disgust of the owner, be-
besides it as hard to count and could
not be put up in bags of 1000 or $5,-
900 even counting.
There are no fewer than 10 coins of
silver, and baser metals formerly cur
rent in the United States which are
obsolete. The old-time copper cent,
authorized in 1889, in the first decade
of our national life, and the copper
half cents, minted first in 1892, and
withdrawn in 1859, were the first of
the old metal money to be discarded.
This coin as first issued, it is said,
contained 364 grains of copper, the
intention being that it should be worth
cent as bullion; but finally it was re-
duced to 208 grains and less.
1t is said that there are at the pres
ent time more than $118,0O0,OO0 of
these ancient coppers unaccounted and
unredeemed by the Treasury.
The first specimens of metal money
made for the government of the United
States was by James Jarvis, of New
Haven.
In earlier days the minting of mon
ey by private individuals in this coun-
try, which is now rigidly forbidden by
law, was quite common.
In the great gold rush to California
coins were struck. by many companies
and refneries. The Mormons in Utah
issued series of gold half-eag1es, ca
giles and double eagles, bearing on one
side an eye and on the other the in
scription "Holiness to the Lord" That
method of making money now is as
obsolete as some of our old coin mint
ed in past years.