Year: 1860

The New York Journal of Commerce, in
alluding to the food of bogus coin, both gold
and silver, now in circulation, says ''Up TO a
recent period, the most dangerous fraud in
circulation was made from genuine die, fitted
TO strike quarter eagles which was stolen from
the mint at New Orleans. 1t bore the date OF
1884, if we remember rightly, and the piece:
were made Of composition metal handsomely
plated, and coined in this stolen die. That
was followed by the practice of splitting the
gold dollar, taking out about sixty cents Of it:
value, and soldering the shell well together
again. Then came the saving into the edge OF
piece, generally half or quarter eagle, cut
ting two thirds Of the way through, and after
ward filling up the coin, re-milling and gliding
the edge. The latest and most skillful o1
these frauds is perpetrated, as far as detected
chiefly with the eagle. The piece is split into
three parts, or at least the two outside shells
containing the impressions are separated from
the center f..fF.


The latter is forfeited to the operator, and its
place supplied by filling Of platina, to which
the Outsides are fastened, the edges being re-
milled and handsomely plated. This is so well
done that very few experts, outside of the two
accomplished testers Of coin employed at the
othce OF the Assistant Treasurer, can detect the
cheat The ten-dOllar piece under this man.
agsment loses about IS so of its gold. and
remains equally good for general circulation
The fact that this is done at all, and the opera
tion continued, Is proof that it is carried on
upon a large scale; for the exquisitely fine
machinery, and the skill and science necessary
30 success, could not be proftably employed
except IN the conduct of an extensive business
The pieces are full weight, and except through
the wonderful instinct of here and there rare
expert, they cannot be detected as they answer
all tests that do not involve the breaking OF
cutting Of the coin.


There must be at this moment a large num-
Der of them on deposit in our banks, and in
almost every full bag of coins one or more of
these, OF other similar frauds may be diseov-
cred, while the number Of bad pieces offered
at the Sub Treasury has sometimes amounted 70
nifty or sixty dollars in a single package of FIVE
thousand. The counterfeit and fraudulent silver
coins are also increasing. The greasy lead or
soft composition quarter dollars any one NAV
detect; and portion of the lead half dollars
are OF the same stamp. But more recently a
composition piece has been uttered which rings
well, does not feel smooth to the touch, and can
only be detected by careful testings Its exact
Ingredients are unknown. but the weight is
msde up by percentage of platina. The IN
creased abundance Of the last named metal has
added very much to the facility with which
these operations are conducted Formerly, if
piece offered as gold was of full weight, with
no increase of size, the fair inference was that
it must be genuine.


Platina first came into use about the middle
OF the last century, being found in considerable
quantities IN South America, and since it has
also been discovered in Russia and other parts
OF the world. In color Ii nearly resembles zinc,
but 1t is heavier than gold, its specific gravity
being Il >, while gold is only 1913 To facili-
tate the understanding of this subject, we may
remark that IN addition to these two metals the
others usually employed in these coinage one
ratl0ns are-mercury, which weighs I3 5. lead
li-j, silver lO-5, copper 9. and zinc about 4:
that Is the bulk of the metal displaces that
humber of times Of its own weight Of water. 1t
Is easy to see that as platina is worth so much
less than gold, while its specific gravity ;s
greater, 1t is certain to be employed in all sue
cessful frauds, where the weight is essential
In cOunterfeits Of silver it is sometimes added
IN small quantities to give both weight and
consistency.