Illustrated history of the United States mint

Chapter VII: Part 7

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Tabulated Statement of Expenditures of the Mint at Philadelphia, for the Fiscal Year ended June 30, 1887.

Value of the Foreign Gold Coins Deposited at the United States Assay Office at New York during the Year ended June 30, 1887.

----------------------+---------------+-----------------+---------------
| Denominations | Total of each | Total by
Countries of Coinage. | of coin. | denomination of | countries of
| | coin. | coinage.
----------------------+---------------+-----------------+---------------
Costa Rica | Mixed | 257.56 | $257.56
France | 20 francs | 1,219,351.02 | 1,219,351.02
Germany | 20 marks | 179,121.67 | 179,121.67
Great Britain | Sovereigns | 1,018,036.21 | 1,018,036.21
Japan | Yens | 18,608.37 | 18,608.37
Mexico | 20 pesos | 388,668.88 |
” | 10 pesos | 1,341.64 |
” | Doubloons | 1,178.60 | 391,189.12
Russia | 5 roubles | 155,237.39 |
” | Roubles | 2,596.80 |
” | ½ imperials | 577,223.34 | 735,057.53
Peru | 20 soles | 999.82 | 999.82
Spain | Doubloons | 3,101,388.08 |
” | Isabellines | 98,151.58 |
” | 25 pesetas | 957,276.17 |
” | Mixed | 179,863.62 | 4,336,679.45
U. S. Colombia | Cinco pesos | 709.76 | 709.76
| +-----------------+---------------
Total | | $7,900,010.51 | $7,900,010.51
----------------------+---------------+-----------------+---------------

The total value of both gold and silver deposited and purchased at the mints of the United States during the fiscal year 1887, not including redeposits, was $115,979,991.62, and including redeposits, $131,635,811.34.

The value of the gold and silver received at the mints and assay offices during the fiscal year 1887, was greater than any previous year since 1881.

IMPROVEMENTS MADE AT THE PHILADELPHIA MINT IN 1887, UNDER THE SUPERVISION OF HON. DANIEL M. FOX.

Impairment of the foundation of the old engine, together with the requirement of increased power, at the mint at Philadelphia led to a special appropriation by Act of Congress of $54,639.20, in accordance with specifications for the renewal of the steam motive plant and for its transfer from the centre of the building to space newly provided near the northern outer wall. The work, undertaken in July, was, by extraordinary exertions on the part of all engaged, completed early in September, with an interruption of less than two months to the regular course of complete operations. Two new 150-horse-power duplex steam-engines and one of 50-horse-power have been erected in the north basement, along with three tubular boilers, coal bunkers, etc.

By this important improvement in plant valuable space has been secured in the centre basement and ground floor for vaults and other necessities.

The number of assays made during the year was some 66,000, of which 48,000 were silver and 18,000 gold.

The melter and refiner of the mint operated upon a larger quantity of bullion than in any previous year in the history of the institution. The operations by this officer may be stated as follows:

Ounces.
Gold deposits 409,326
Silver deposits 44,239,881
Parted and refined 721,765

As this bullion is handled more than sixteen times in the processes of melting and preparation for coinage or for manufacture of fine bars, the combined operations represent a single handling of nearly 25,000 tons.

The operations of the coiner’s department may be stated as follows:

Ounces.
Gold 13,574
Silver 42,924,485
Minor coinage metal 5,588,897
----------
Total 48,526,956

The total coinage was $23,277,600.80, the total number of pieces being 81,532,391.

In addition to the coinage executed during the year, gold and silver bars were manufactured as follows:

Gold $58,188,953.66
Silver 6,481,611.25
--------------
Total $64,670,564.91

Gold and Silver Bullion in the Mints and Assay Offices July 1, 1887.

Total Metallic Stock in the United States July 1, 1887, Coin and Bullion included.

--------+---------------
| Value.
--------+---------------
Gold | $654,520,335
Silver | 352,993,566
+---------------
Total |$1,007,513,901
--------+---------------

At the beginning of the fiscal year 1887 there was on hand at the mints at Philadelphia, New Orleans and San Francisco, silver bullion purchased for the silver dollar coinage amounting to $2,960,969.02. There was delivered at the mints on purchases of all kinds during the year, as above, 29,433,342.27 standard ounces, at a cost of $25,988,620.46, making the total amount of silver available during the fiscal year for the silver dollar coinage 32,691,837.93 standard ounces, costing $28,949,589.48.

The price paid by this Bureau on November 1, 1887, for silver purchases for the silver dollar coinage was $0.9580.80 per ounce fine.

The production of silver, notwithstanding the large depreciation in the market value of that metal, has steadily increased from $115,000,000 in 1883 to $130,000,000 in 1886. The production of the world for the calendar years 1883, 1884, 1885 and 1886 is exhibited in the following table:

World’s Production of Gold and Silver.

---------+-----------------------+------------------------
| Gold. | Silver.
Calendar +----------+------------+----------+-------------
Years. |Kilograms.| Value.[23] |Kilograms.| Value.[24]
---------+----------+------------+----------+-------------
1883 | 143,533 | $95,392,000| 2,769,197| $115,088,000
1884 | 153,017 | 101,694,000| 2,804,725| 116,564,000
1885 | 154,942 | 102,975,000| 3,062,009| 127,257,000
1886 | 147,097 | 97,761,000| 3,137,175| 130,383,000
---------+----------+------------+----------+-------------

The United States still maintains first rank among the nations of the world as the largest producer of the precious metals, having produced during the calendar year 1886 gold and silver of the coining value of $86,000,000. Mexico retains second rank, with a production of $33,614,000, of which $33,000,000 was silver. Australia has a production of $27,647,000, of which $26,425,000 was gold. Russia is credited with a production of $21,046,000, of which $20,518,000 was gold.

Circulation of Standard Silver Dollars at the end of each six months, from July 1, 1885, to July 1, 1887, and on October 1, 1887.

----------------+-------------+---------------------------+-------------
| | In the Treasury. |
| +-------------+-------------+
| | Held for | Held in |
Period. | Total | payments of | excess of | In
| coinage. |certificates |certificates | circulation.
| |outstanding. |outstanding. |
----------------+-------------+-------------+-------------+-------------
July 1, 1885 |$203,884,381 |$101,530,946 |$63,882,166 | $38,471,269
January 1, 1886 | 218,259,761 | 93,179,465 | 72,538,725 | 52,541,571
July 1, 1886 | 233,723,286 | 88,116,225 | 93,137,341 | 52,469,720
January 1, 1887 | 249,683,647 | 117,246,670 | 71,259,568 | 61,177,409
July 1, 1887 | 266,990,117 | 142,118,017 | 69,365,953 | 55,506,147
October 1, 1887 | 273,660,157 | 154,354,826 | 58,688,970 | 60,616,361
----------------+-------------+-------------+-------------+-------------

Appropriations for the support of Mints and Assay Offices for the fiscal year 1888.

----------------+----------+----------+----------+----------+---------
Institutions. | Salaries.| Wages of |Contingent|Repairs of| Total.
| | workmen. | expenses.|buildings.|
----------------+----------+----------+----------+----------+----------
_Coinage mints._| | | | |
| | | | |
Philadelphia | $41,550 | $293,000 | $100,000 | | $434,550
San Francisco | 41,900 | 170,000 | 40,000 | | 251,900
Carson | 29,550 | 60,000 | 25,000 | | 114,550
New Orleans | 31,950 | 74,000 | 35,000 | | 140,950
| | | | |
_Assay offices._| | | | |
| | | | |
New York | 39,250 | 25,000 | 10,000 | | 74,250
Denver | 10,950 | 14,000 | 6,000 | $2,000 | 32,950
Helena | 7,700 | 12,000 | 6,000 | | 25,700
Boise City | 3,000 | | 5,000 | 1,000 | 9,000
Charlotte | 2,750 | | 2,000 | | 4,750
Saint Louis | 3,500 | | 2,400 | | 5,900
----------------+----------+----------+----------+----------+-----------
Total | $212,100 | $648,000 | $231,400 | $3,000 |$1,094,500
----------------+----------+----------+----------+----------+-----------

Comparison of expenditures, years 1886 and 1887.

-----------------------+--------------+--------------
Appropriations. | 1886. | 1887.
-----------------------+--------------+--------------
Salaries |$ 189,331.48 | $192,907.13
Wages of workmen | 593,865.07 | 601,787.25
Contingent expenses | 164,183.47 |[25]193,704.93
Standard silver dollar | 119,976.00 | 200,189.02
-----------------------+--------------+--------------
Total |$1,067,356.02 | $1,188,588.33
-----------------------+--------------+--------------

Production in round numbers of precious metals in United States for 1886.

-----------------------------+------------+-------------+------------
State or Territory. | Gold. | Silver. | Total.
-----------------------------+------------+-------------+------------
Alaska | $446,000 | $2,000 | $448,000
Arizona | 1,110,000 | 3,400,000 | 4,510,000
California | 14,725,000 | 1,400,000 | 16,125,000
Colorado | 4,450,000 | 16,000,000 | 20,450,000
Dakota | 2,700,000 | 425,000 | 3,125,000
Georgia | 152,500 | 1,000 | 153,500
Idaho | 1,800,000 | 3,600,000 | 5,400,000
Montana | 4,425,000 | 12,400,000 | 16,825,000
Nevada | 3,090,000 | 5,000,000 | 8,090,000
New Mexico | 400,000 | 2,300,000 | 2,700,000
North Carolina | 175,000 | 3,000 | 178,000
Oregon | 990,000 | 5,000 | 995,000
South Carolina | 37,500 | 500 | 38,000
Utah | 216,000 | 6,500,000 | 6,716,000
Washington | 147,000 | 80,000 | 227,000
Texas | | 200,000 | 200,000
Alabama, Tennessee, Virginia,| | |
Vermont, Michigan, | | |
and Wyoming | 5,000 | 5,000 | 10,000
-----------------------------+------------+-------------+------------
Total |$34,869,000 | $51,321,500 | $86,190,500
-----------------------------+------------+-------------+------------

Production of the United States from 1880 to 1886.

---------------+-----------+-----------+-------------
Calendar Years.| Gold. | Silver. | Total.
---------------+-----------+-----------+-------------
1880 |$36,000,000|$39,200,000|$75,200,000
1881 | 34,700,000| 43,000,000| 77,700,000
1882 | 32,500,000| 46,800,000| 79,300,000
1883 | 30,000,000| 46,200,000| 76,200,000
1884 | 30,800,000| 48,800,000| 79,600,000
1885 | 31,800,000| 51,600,000| 83,400,000
1886 | 35,000,000| 51,000,000| 86,000,000
---------------+-----------+-----------+-------------

Gold and silver product in the United States and amount coined in 1886.

GOLD.

Value of the product of the mines, 1886 $98,000,000
Coinage executed in 1886 $92,650,000
Recoinage 9,600,000
-----------
Net coinage 1886 83,050,000
-----------
Leaving new gold for employment in the arts $14,950,000
===========

SILVER.

Value of the product of the mines, 1886 $130,000,000
Coinage executed in 1886 $124,670,000
Recoinage 13,950,000
------------
Net coinage 1886 110,720,000
-----------
Leaving new silver for employment in the arts $19,280,000
===========

Minor Coins Shipped to the Different States and Territories from the Mint at Philadelphia during the Fiscal Year 1887.

--------------------+------------+------------
| 1-cent | 5-cent
State or Territory. | bronze. | nickel.
--------------------+------------+------------
Alabama | $25.00 | $5,375.00
Arkansas | 20.00 | 890.00
Arizona | 20.00 |
California | 1,215.00 | 11,585.00
Colorado | 105.00 | 6,090.00
Connecticut | 6,230.00 | 6,010.00
Delaware | 385.00 | 950.00
District of Columbia| 200.00 | 300.00
Dakota | 1,590.00 | 3,640.00
Florida | 190.00 | 840.00
Georgia | 490.00 | 3,020.00
Indiana | 10,669.37 | 18,710.00
Iowa | 8,330.00 | 11,970.00
Illinois | 51,831.00 | 68,355.00
Idaho | | 80.00
Kentucky | 1,775.00 | 12,950.00
Kansas | 4,440.00 | 8,720.00
Louisiana | 400.00 | 6,510.00
Michigan | 17,840.00 | 11,786.00
Massachusetts | 38,815.00 | 39,210.00
Minnesota | 10,405.00 | 13,615.00
Maine | 1,325.00 | 1,215.00
Mississippi | 25.00 | 250.00
Montana | | 2,020.00
Maryland | 14,270.00 | 22,070.00
Missouri | 7,650.00 | $49,490.00
New York | 128,125.00 | 73,870.00
North Carolina | 1,035.00 | 1,290.00
New Jersey | 12,965.00 | 11,835.00
New Hampshire | 800.00 | 2,600.00
New Mexico | | 400.00
Nebraska | 2,710.00 | 14,865.00
Ohio | 29,015.00 | 34,990.00
Oregon | 20.00 | 3,510.00
Pennsylvania | 25,509.00 | 45,045.00
Rhode Island | 6,951.00 | 3,100.00
South Carolina | 800.00 | 2,865.00
Texas | 150.00 | 7,320.00
Tennessee | 1,280.00 | 15,890.00
Utah | | 1,320.00
Virginia | 3,080.00 | 5,540.00
Vermont | 1,370.00 | 900.00
West Virginia | 1,235.00 | 2,380.00
Wisconsin | 7,230.00 | 10,755.00
Washington Territory| | 500.00
Wyoming | | 260.00
+------------+------------
Total |$400,510.37 |$544,686.00
--------------------+------------+------------

Minor Coins Struck and Remelted from the Organization of the Mint, and the Amount Outstanding June 30, 1887.

---------------------+---------------+--------------+---------------
| | | Outstanding,
Denomination. | Coined. | Remelted. | June 30, 1887.
---------------------+---------------+--------------+---------------
Copper cents | $1,562,887.44 | $372,741.70 | $1,190,145.74
Copper half cents | 399,926.11 | |
Copper nickel cents | 2,007,720.00 | 735,616.30 | 1,272,103.70
Bronze cents | 4,319,275.48 | 24,517.11 | 4,294,758.37
Bronze 2-cent pieces | 912,020.00 | 292,128.08 | 619,891.92
Nickel 3-cent pieces | 903,705.00 | 175,541.44 | 728,163.56
Nickel 5-cent pieces | 8,691,671.75 | 61,934.00 | 8,629,737.75
+---------------+--------------+---------------
Total |$18,437,205.78 |$1,662,478.63 |$16,734,801.04
---------------------+---------------+--------------+---------------

On the 30th June, 1886, the amount of minor coin in the Treasury was $377,814. Of this amount over $160,000 proved to be in 3-cent nickel pieces, for which there was no demand, and over $60,000 in uncurrent minor coins of former issues was transferred for recoinage, confined to 1-cent bronze and 5-cent nickel pieces. The demand for 1-cent bronze and 5-cent nickel pieces, at first sudden, has since been urgent and continuous; at times largely beyond the ability of the mint to promptly meet.

Operations Fiscal Year, 1887.

Bars manufactured:
Gold $58,188,953.66
Silver 6,481,611.25
-----------------
Total 64,670,564.91
===============
Coinage executed:
Gold $22,393,279.00
Silver 34,366,483.75
Minor 943,650.65
----------------
Total 57,703,413.40
===============
Refinery earnings $143,258.52

SUMMARY OF THE OPERATIONS OF THE MINTS AND ASSAY OFFICES.

The value of the gold and silver deposited at the mints and assay offices of the United States during the fiscal year 1887 was $131,635,811.34. This aggregate, however, but partially measures the successive operations upon the bullion represented by this value. For example, it may be interesting to show the operations by the melters and refiners of the four mints and of the assay office at New York, as measured by the value of the bullion successively operated upon. These may be stated as follows:

Bullion Operated upon by the Melters and Refiners, 1887.

The operations of the coinage departments of the mints were as follows:

Operations of Coinage Departments, 1887.

The 1-cent and 2-cent bronze pieces were recoined into 1-cent bronze pieces, and the copper nickel 1-cent, and the 3-cent and 5-cent nickel pieces were used in the coinage of new 5-cent nickel pieces.

Form and Location of the Moneys of the United States and the Bullion awaiting Coinage in the Mints July 1, 1887.

[Exclusive of Minor Coin and Minor-Coinage Metal.]

-------------------------+---------------+---------------+--------------
| | In National |In other Banks
| In Treasury. | Banks.[26] | and General
| | | Circulation.
-------------------------+---------------+---------------+--------------
METALLIC. | | |
Gold bullion | $85,512,270| |
Silver bullion | 4,091,414| |
Silver bullion (melted | | |
trade dollars) | 6,364,236| |
Gold coin | 192,368,915|[27]$98,137,439| $278,501,711
Silver dollar | 211,483,970| 6,343,213| 49,162,934
Subsidiary silver coin | 26,977,493| 2,813,138| 45,757,168
+---------------+---------------+--------------
Total | $526,798,298| $107,293,790| $373,421,813
+===============+===============+==============
REPRESENTATIVE. | | |
Legal-tender notes |[28]$28,783,796| $74,477,342| $243,419,878
Old demand notes | | | 57,130
Certificates of deposit | 310,000| 7,810,000| 960,000
Gold certificates | 30,261,380| 54,274,940| 36,950,497
Silver certificates | 3,425,133| 3,535,479| 138,582,538
National bank notes | 197,046| 22,962,737| 256,058,005
Fractional paper currency| 2,366| 564,266| 6,380,332
+---------------+---------------+--------------
Total | $62,979,721| $163,624,764| $682,408,380
-------------------------+---------------+---------------+--------------

Gold and Silver Coin in the United States November 1, 1887.

----------------------+------------+-------------------------------------
| | Silver Coin.
| +------------+-----------+------------
Date. | Gold Coin. | Full Legal |Subsidiary.| Total
| | Tender. | | Silver.
----------------------+------------+------------+-----------+------------
Last official | | | |
statement | | | |
July 1, 1887 |$569,008,065|$266,990,117|$75,547,799|$342,537,916
Gain subsequent to | | | |
above statement | | | |
(estimate) | 5,919,808| 10,120,040| 210,387| 10,330,427
+------------+------------+-----------+------------
Estimate for November | | | |
1, 1887 |$574,927,873|$277,110,157|$75,758,186|$352,868,343
----------------------+------------+------------+------------------------

Estimate of Coin Circulation July 1, 1887.

------------------------------+------------+--------------+--------------
Items. | Gold. | Silver. | Total.
------------------------------+------------+--------------+--------------
Estimated circulation July 1, | | |
1886 |$548,320,031| $308,784,223 | $857,104,254
Coinage for fiscal year 1887 | 22,393,279| 34,366,483 | 56,759,762
Net imports | 2,311,739| 409,151 | 2,720,890
+------------+--------------+--------------
Total |$573,025,049| $343,559,857 | $916,584,906
+============+==============+==============
Less deposits of United | | |
States coin | 516,984| 821,941 | 1,338,925
Used in the arts | 3,500,000| 200,000 | 3,700,000
+------------+--------------+--------------
Total | 4,016,984| 1,021,941 | 5,038,925
+============+==============+==============
Estimated circulation July 1, | | |
1887 |$569,008,065| $342,537,916 | $911,545,981

Table showing the Total Paper and Specie Circulation in each of the Principal Countries of the World, and the Amount of Specie in Bank and National Treasuries, and the Amount of Active Circulation.

(Officially Reported in 1884.)

-------------------------+-----------+--------------+------------------
| |Total metallic| Amount of
Countries. |Population.| and paper |specie in national
| | circulation. | treasuries
| | | and banks.
-------------------------+-----------+--------------+------------------
United States | 50,155,783|$1,745,926,755| $534,033,074
Great Britain and Ireland| 35,246,562| 876,318,139| 154,182,691
Dominion of Canada, | | |
including Manitoba | | |
and Newfoundland | 4,506,563| 59,596,084| 9,111,148
British India |252,541,210| 1,099,383,126| 78,358,000
Ceylon | 2,758,166| 2,335,300| 1,273,800
Australia, Tasmania, | | |
and New Zealand | 2,798,898| 96,010,722| 48,737,837
Cape of Good Hope | 780,757| 38,078,000| 8,092,000
France | 37,321,186| 1,990,961,912| 402,939,754
Algiers | 2,867,626| 27,567,000| 5,564,476
Guadeloupe | 185,460| 1,627,750| 564,935
Belgium | 5,536,654| 186,326,515| 17,991,450
Switzerland | 2,846,102| 53,180,731| 11,609,618
Italy | 28,452,639| 533,548,521| 69,357,358
Greece | 1,979,423| 29,143,000| 1,800,000
Spain | 16,625,860| 270,812,440| 27,223,959
Cuba | 1,394,516| 73,043,543| 14,181,243
Luzon | 4,450,191| 4,198,000| 3,765,677
Portugal, including | | |
Azores and Madeira | 4,550,699| 46,367,680| 11,718,874
Germany | 45,234,061| 825,473,023| 181,706,674
Austria-Hungary | 35,839,428| 431,646,314| 98,131,401
Sweden and Norway | 6,479,168| 43,058,443| 12,740,975
Danish Kingdom | 2,096,400| 39,228,000| 14,070,000
Netherlands | 4,061,580| 163,847,949| 55,114,112
Russia | 98,323,000| 646,431,794| 124,008,153
Turkey | 24,987,000| 83,315,976| 14,520,000
Roumania | 5,376,000| 27,372,383| 3,995,298
Mexico | 9,557,279| 52,048,529| 1,763,008
Central America | 2,891,600| 4,701,861|
Argentine Republic | 2,540,000| 71,371,850| 14,196,461
Colombia | 3,000,000| 5,097,830| 200,000
Brazil | 11,108,291| 139,871,255|
Peru | 3,050,000| 14,980,820| 1,882,018
Venezuela | 2,675,245| 2,682,700|
Chili | 2,420,500| 32,555,341| 2,398,000
Bolivia | 2,325,000| 6,908,533| 443,597
Uruguay | 438,245| 11,587,000| 4,601,000
Hayti | 572,000| 4,780,000|
Japan | 36,700,110| 248,744,805| 28,486,973
Hawaiian Islands | 66,895| 1,834,900| 808,200
+-----------+--------------+------------------
| | 9,991,964,524| 1,959,571,764
-------------------------+-----------+--------------+------------------

-------------------------+--------------+-------------
| |
Countries. | Active | Per capita
| circulation. | of active
| |circulation.
-------------------------+--------------+-------------
United States |$1,211,893,681| $24.16
Great Britain and Ireland| 722,135,448| 20.49
Dominion of Canada, | |
including Manitoba | |
and Newfoundland | 50,484,936| 11.22
British India | 1,021,025,126| 4.05
Ceylon | 1,061,500| .38
Australia, Tasmania, | |
and New Zealand | 47,272,885| 16.90
Cape of Good Hope | 29,986,000| 38.40
France | 1,588,022,158| 42.55
Algiers | 22,002,524| 7.67
Guadeloupe | 1,062,815| 5.73
Belgium | 168,335,065| 30.40
Switzerland | 41,571,113| 14.60
Italy | 464,191,163| 16.31
Greece | 27,343,000| 13.81
Spain | 243,588,481| 14.65
Cuba | 58,862,300| 42.21
Luzon | 432,323| .10
Portugal, including | |
Azores and Madeira | 34,648,806| 7.61
Germany | 643,766,349| 14.23
Austria-Hungary | 333,514,913| 9.31
Sweden and Norway | 30,317,468| 4.68
Danish Kingdom | 25,158,000| 12.00
Netherlands | 108,733,837| 26.77
Russia | 522,423,641| 5.31
Turkey | 68,795,976| 2.75
Roumania | 23,377,085| 4.35
Mexico | 50,285,521| 5.26
Central America | 4,701,861| 1.62
Argentine Republic | 57,175,389| 22.51
Colombia | 4,897,830| 1.63
Brazil | 139,871,255| 12.59
Peru | 13,098,802| 4.29
Venezuela | 2,682,700| 1.00
Chili | 30,157,341| 12.45
Bolivia | 6,464,936| 2.78
Uruguay | 6,986,000| 15.94
Hayti | 4,780,000| 8.35
Japan | 220,257,832| 6.00
Hawaiian Islands | 1,026,700| 15.35
+--------------+-------------
| 8,032,392,760|
-------------------------+--------------+-------------

WORLD’S COINAGE.

----------------+-----------+-------------
Calendar years. | Gold. | Silver.
----------------+-----------+-------------
1884 |$99,432,795| $95,832,084
1885 | 94,728,008| 105,105,299
1886 | 92,653,400| 124,678,678
----------------+-----------+-------------

The value of the United States gold coin deposited for recoinage, principally by the Treasurer of the United States, was $516,984.63, against $393,545.28 in the preceding year.

In addition to the gold bullion both of domestic and foreign production, and the foreign and domestic gold coin deposited, old material in the form of jewelry, bars, old plate, etc., was received containing gold of the value of $2,265,219.85.

The marked increase in the deposits of gold was at the assay office at New York, the value of the foreign gold bullion and coin deposited at that institution during the year being $30,621,006.95, exclusive of fine bars of its own manufacture, of the value of $7,933,743.98, imported and re-deposited.

The value of the foreign gold bullion deposited was $22,571,328.70, against $4,317,068.27 in 1886.

The value of the foreign gold coin received and melted was $9,896,512.28, against $5,673,565.04 in the year preceding.

The value of the total deposits of gold during the fiscal year 1887, including all re-deposits as above cited, was $83,416,779.40, against $49,606,534.65 in 1886, an excess in the year 1887 of $33,810,244.75.

The value of silver bullion of foreign extraction deposited at the mints during the year 1887 was $1,457,406.01.

The value of foreign silver coin deposited during the year was $350,598.86, against $812,664.50 in the preceding year.

The value of the United States silver coin deposited (calculated at the coining rate in silver dollars), not including trade-dollars, was $768,739.32, most of which consisted of worn and uncurrent silver coins transferred from the Treasury of the United States for recoinage.

Trade-dollars were received mostly by transfer from the Treasury of the United States and melted. The bullion contained 5,837,791.87 standard ounces, of the coinage value in standard silver dollars of $6,793,066.89.

EARNINGS AND EXPENDITURES OF THE MINTS AND ASSAY OFFICES.

The total earnings amounted to $8,842,819.70, and the total expenditures and losses of all kinds to $1,437,442.95. The profits from operations on bullion during the past year amounted to the large sum of $7,405,386.75.

A large portion of these earnings consisted of seignorage or profits on the manufacture of silver and minor coins.

Highest and lowest prices of Gold in New York.

Each month in 1862-1878.

=========+===========+===========+===========+===========+===========
Month. | 1862. | 1863. | 1864. | 1865. | 1866.
---------+-----------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 103¾ 101¾ | 160¾ 133⅝ | 159⅜ 151½ | 234⅜ 197¼ | 144¼ 136¾
February | 104¾ 102⅛ | 172½ 152½ | 161 157⅛ | 216¾ 196⅜ | 140⅝ 135¾
March | 102½ 101⅛ | 171¾ 139 | 169¾ 159 | 201 148⅛ | 136½ 124⅞
April | 102¼ 101½ | 157⅞ 145½ | 184¾ 166¼ | 154½ 143½ | 129½ 125¼
May | 104⅛ 102⅛ | 154¾ 143½ | 190 168 | 145⅛ 128½ | 141½ 125⅛
June | 109½ 103½ | 148⅜ 140½ | 250 193 | 147⅝ 135¼ | 167¾ 137½
July | 120⅛ 108¾ | 145 123¼ | 285 222 | 146⅛ 138⅝ | 155¾ 147
August | 116¼ 112½ | 129¾ 122⅛ | 261¾ 231½ | 145⅛ 140¼ | 152⅛ 146½
September| 124 116½ | 143⅛ 126⅞ | 254½ 191 | 145 142⅝ | 147⅛ 143½
October | 133½ 122 | 153¾ 140⅜ | 227¾ 189 | 149 144⅛ | 154⅜ 145½
November | 133¼ 129 | 154 143 | 260 210 | 148¾ 145½ | 148⅝ 137½
December | 134 128½ | 152¾ 148½ | 243 212¾ | 148½ 144½ | 141¾ 131¼
+-----------+-----------+-----------+-----------+-----------
Year | 134 101⅛ | 172½ 122⅛ | 285 151½ | 234⅜ 128½ | 167¾ 125⅛
---------+-----------+-----------+-----------+-----------+-----------

=========+===========+===========+===========+===========
Month. | 1867. | 1868. | 1869. | 1870.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 137⅞ 132⅛ | 142¼ 133¼ | 136⅝ 134⅝ | 123¼ 119⅜
February | 140⅜ 135⅛ | 144 139¾ | 136¼ 130⅞ | 121½ 115⅛
March | 140⅜ 133⅝ | 141¼ 137⅞ | 132½ 130⅜ | 116⅜ 110¼
April | 141⅝ 132⅝ | 140⅜ 137¾ | 134⅝ 131⅜ | 115⅜ 111½
May | 138⅞ 135 | 140½ 139⅛ | 144¾ 134½ | 115½ 113¾
June | 138¾ 136⅜ | 141¼ 139⅜ | 139⅝ 136½ | 114¾ 110⅞
July | 140⅝ 138 | 145¼ 143⅛ | 137¾ 134¼ | 122¾ 111⅛
August | 142½ 139⅞ | 150 143½ | 136½ 131⅜ | 122 114¾
September| 146⅜ 141 | 145⅛ 141⅛ | 162½ 129¾ | 116¾ 112¼
October | 145⅝ 140¼ | 140½ 133¾ | 132 128¼ | 113¾ 111⅛
November | 141½ 138½ | 137 132 | 128⅜ 121⅛ | 113¾ 110
December | 137⅞ 133 | 136¾ 134⅜ | 124 119½ | 111⅜ 110⅜
+-----------+-----------+-----------+-----------
Year | 146⅜ 132⅛ | 150 132 | 162½ 119½ | 123¼ 110
---------+-----------+-----------+-----------+-----------

=========+===========+===========+===========+===========
Month. | 1871. | 1872. | 1873. | 1874.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 111¼ 110½ | 110⅛ 108½ | 114¼ 111⅝ | 112⅛ 110⅛
February | 112¼ 110¾ | 111 109½ | 115⅛ 112⅞ | 113 111⅜
March | 111⅝ 110⅛ | 110⅝ 109¾ | 118½ 114⅝ | 113⅞ 111¼
April | 111¾ 110⅛ | 113¼ 109⅞ | 119⅛ 116¾ | 114⅜ 111¾
May | 112¼ 111 | 114⅜ 112⅛ | 118⅝ 116⅝ | 113⅛ 111⅞
June | 113⅛ 111¾ | 114¾ 113 | 118¼ 115 | 112¼ 110½
July | 113¾ 111¾ | 115¼ 113½ | 116⅜ 115 | 110⅞ 109
August | 113⅛ 111⅝ | 115⅝ 112⅛ | 116¼ 114⅜ | 110¼ 109¼
September| 115⅜ 112¾ | 115⅛ 112⅝ | 116⅛ 110⅞ | 110¼ 109⅜
October | 115 111½ | 115¼ 112¼ | 111¼ 107¾ | 110⅜ 109¾
November | 112⅜ 110⅜ | 114¼ 111⅜ | 110½ 106⅛ | 112⅜ 110
December | 110¼ 108⅜ | 113½ 111⅜ | 112⅝ 108⅜ | 112⅜ 110½
+-----------+-----------+-----------+-----------
Year | 115⅜ 108⅜ | 115⅝ 108½ | 119 106⅛ | 114⅜ 109
---------+-----------+-----------+-----------+-----------

=========+===========+===========+===========+===========
Month. | 1875. | 1876. | 1877. | 1878.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 113⅜ 111¾ | 113¼ 112⅜ | 107⅛ 105¼ | 102⅞ 101¼
February | 115⅜ 113¼ | 114⅛ 112¾ | 106⅛ 104⅝ | 102⅜ 101⅝
March | 117 114⅜ | 115 113¾ | 105⅜ 104¼ | 102 100¾
April | 115½ 114 | 113⅞ 112½ | 107⅞ 104¾ | 101¼ 100⅛
May | 116⅜ 115 | 113¼ 112¼ | 107⅜ 106¼ | 101¼ 100⅜
June | 117½ 116¼ | 113 111⅞ | 106⅜ 104¾ | 101 100⅝
July | 117¼ 111¾ | 112⅜ 111⅜ | 106⅛ 105⅛ | 100¾ 100⅜
August | 114¾ 112⅝ | 112⅛ 109¾ | 105½ 103⅞ | 100¾ 100½
September| 117⅜ 113¾ | 110⅜ 109¼ | 104 102⅞ | 100½ 100⅛
October | 117⅝ 114½ | 113¼ 108⅞ | 103⅜ 102½ | 100⅜ 100¼
November | 116⅜ 114⅛ | 110⅛ 108⅛ | 103⅜ 102½ | 100½ 100⅛
December | 115¼ 112⅝ | 109 107 | 103⅜ 102½ | 100½ 100
+-----------+-----------+-----------+-----------
Year | 117⅝ 111¾ | 115 107 | 107⅞ 102½ | 102⅞ 100
---------+-----------+-----------+-----------+-----------

NOTE.—Specie payment resumed January 1, 1879, after a suspension of nearly 18 years.

Latest official estimate of the values of foreign coins in the United States, January, 1887.

-------------------+--------------+----------------------------------
| Value in |
COUNTRY. | U. S. Money. | Standard Coin.
-------------------+--------------+----------------------------------
Argentine Republic | 96.5 | ⅟₂₀, ⅒, ⅕, ½ and 1 peso, ½
| | argentine.
Austria | 35.9 |
Belgium | 19.3 | 5, 10 and 20 francs.
Bolivia | 72.7 | Boliviano.
Brazil | 54.6 |
British Possessions| |
in N. A. | $1.00 |
Chili | 91.2 | Condor, doubloon and escudo.
Cuba | 93.2 | ⅟₁₆, ⅛, ¼, ½ and 1 doubloon.
Denmark | 26.8 | 10 and 20 crowns.
Ecuador | 72.7 | Peso.
Egypt | 04.943 | 5, 10, 25, 50 and 100 piasters.
France | 19.3 | 5,10 and 20 francs.
German Empire | 23.8 | 5, 10 and 20 marks.
Great Britain | 4.86.6½ | ½ sovereign and sovereign.
Greece | 19.3 | 5, 10, 20, 50 and 100 drachmas.
Hayti | 96.5 | 1, 2, 5 and 10 gourdes.
India | 34.6 |
Italy | 19.3 | 5, 10, 20, 50 and 100 lire.
Japan | 78.4 | 1, 2, 5, 10 and 20 yen, gold and
| | silver yen.
Liberia | 1.00 |
Mexico | 07.9 | Peso or dollar, 5, 10, 25 and 50
| | centavo.
Netherlands | 40.2 |
Norway | 26.8 | 10 and 20 crowns.
Peru | 72.7 | Sol.
Portugal | 1.08 | 2, 5 and 10 milreis.
Russia | 58.2 | ¼, ½ and 1 rouble.
Spain | 19.3 | 5, 10, 20, 50 and 100 pesetas.
Sweden | 26.8 | 10 and 20 crowns.
Switzerland | 19.3 | 5, 10 and 20 francs.
Tripoli | 65.6 |
Turkey | 04.4 | 25, 50, 100, 250, 500 piasters.
United States of | |
Colombia | 72.7 | Peso.
Venezuela | 19.3 | 5, 10, 20, 50 and 100 bolivar.
-------------------+--------------+----------------------------------

NOTE.—The “standard” of a given country is indicated as follows, namely: _Double_, where its standard silver coins are unlimited legal tender, the same as its gold coins; _S. gold_ or _S. silver_, as its standard coins of one or the other metal are unlimited legal tender. The par of exchange of the monetary unit of a country with a single gold, or a double, standard is fixed at the value of the gold unit as compared with the United States gold unit. In the case of a country with a single silver standard, the par of exchange is computed at the mean price of silver in the London market for a period commencing October 1 and ending December 26, 1886, as per daily cable dispatches to the Bureau of the Mint.

TREASURY DEPARTMENT.

WASHINGTON, D. C., JANUARY 1, 1887.

VALUES OF FOREIGN COINS.

In accordance with the provisions of section 3564 of the Revised Statutes of the United States, the value of the standard coins of the various nations of the world were estimated by the Mint Bureau and proclaimed by the Department on January 1, 1887.

These estimates, to be followed at the custom-houses of the United States on and after January 1, 1887, in determining the values of invoices expressed in terms of foreign units of account, are shown in the following table (see opposite page):

The average price of silver in London for the period embraced between October 1 and December 26, 1886, was 45.862 pence per ounce, British standard, equivalent at the par of exchange to $1.00535 per ounce fine.

The corresponding value of silver for the three months ending December 24, 1885, was $1.038141 per ounce fine, a decline of $0.03279, a little over three cents a fine ounce.

The depression in the price of silver occasioned a change in the estimated values given the following coins:

Changes in Values of Foreign Coins from 1886 to 1887.

----------------------------------+-------------+-------------
| Value, | Value,
Coins. |Jan. 1, 1886.|Jan. 1, 1887.
----------------------------------+-------------+-------------
Florin of Austria | $0.371 | $0.359
Boliviano of Bolivia | .751 | .727
Sucre of Ecuador | .751 | .727
Rupee of India | .357 | .346
Yen of Japan | .810 | .784
Dollar of Mexico | .816 | .790
Sol of Peru | .751 | .727
Rouble of Russia | .601 | .582
Mahbub of Tripoli | .677 | .656
Peso of United States of Colombia | .751 | .727
----------------------------------+-------------+-------------

The monetary unit of Egypt has been nominally changed from the piaster to the pound containing one hundred piasters.

The monetary unit of Ecuador also has been nominally changed from the peso to the sucre, but with no change as to weight or fineness.

In regard to Japan, in the table for 1887 the values of the gold and silver yen were estimated separately, for the reason that while by law the standard of Japan is gold, silver is practically the standard of value, and invoices of merchandise from Japan are generally in terms of the silver yen.

Aggregate Issues of Paper Money in War times.

The following table exhibits the amount per capita issued of the Continental money, the French assignats, the Confederate currency, and the legal-tender greenbacks and National bank notes of the United States.

Refining (by acids), fiscal year 1887.

--------------+---------+----------------------+---------------------
| | Gold. | Silver.
Mint or | Gross +----------+-----------+----------+----------
Assay Office. | ounces. | Standard | Value. | Standard | Value.
| | ounces. | | ounces. |
--------------+---------+----------+-----------+----------+----------
Philadelphia. | 721,765| 190,539| $3,554,912| 553,437| $643,999
San Francisco.|1,506,217| 365,970| 6,808,744| 1,248,071| 1,452,300
Carson. | 45,447| 3,606| 67,088| 45,665| 53,137
New Orleans. | 15,544| 4,840| 90,046| 11,167| 12,994
New York. |3,822,148| 764,676| 14,226,530| 3,005,812| 3,497,672
--------------+---------+----------+-----------+----------+----------
Total. |6,111,121| 1,329,631|$24,737,320| 4,864,152|$5,660,102
--------------+---------+----------+-----------+----------+----------

Value in United States Money, of One Ounce Troy of Gold, at different Degrees of Fineness.

500 Fine $10.33.6
510 ” 10.54.3
520 ” 10.74.9
530 ” 10.95.6
540 ” 11.16.3
550 ” 11.36.9
560 ” 11.57.6
570 ” 11.78.3
580 ” 11.99.
590 ” 12.19.6
600 ” 12.40.3
610 ” 12.61.
620 ” 12.81.7
630 ” 13.02.3
640 ” 13.23.
650 ” 13.43.7
660 ” 13.64.3
670 ” 13.85.
680 ” 14.05.7
690 ” 14.26.3
700 ” 14.47.
710 ” 14.67.7
720 ” 14.88.4
730 ” 15.09.4
740 ” 15.28.7
750 ” 15.50.4
760 ” 15.71.1
770 ” 15.91.7
780 ” 16.12.4
790 ” 16.33.1
800 ” 16.53.8
810 ” 16.74.4
820 ” 16.95.1
830 ” 17.15.8
840 ” 17.36.4
850 ” 17.57.1
860 ” 17.77.8
870 ” 17.98.4
880 ” 18.19.1
890 ” 18.39.8
900 ” 18.60.5
910 ” 18.81.1
920 ” 19.01.8
930 ” 19.22.5
940 ” 19.43.1
950 ” 19.63.8
960 ” 19.84.5
970 ” 20.05.2
980 ” 20.25.8
990 ” 20.46.5
1000 ” 20.67.2
--------------------

N. B.—When there is an intermediate degree of fineness, a short calculation is necessary. For every one-thousandth, add 2.07 cents per ounce for gold. Thus, one ounce of gold at 992 fine—$20.50.6

Comparison of Expressing the Fineness of Gold in Thousandths, and in Carats.[29]

500 Fine 12.00 Carats
510 ” 12.08 ”
520 ” 12.15 ”
530 ” 12.23 ”
540 ” 12.31 ”
550 ” 13.07 ”
560 ” 13.14 ”
570 ” 13.22 ”
580 ” 13.29 ”
590 ” 14.05 ”
600 ” 14.13 ”
610 ” 14.20 ”
620 ” 14.28 ”
630 ” 15.04 ”
640 ” 15.11 ”
650 ” 15.19 ”
660 ” 15.27 ”
670 ” 16.03 ”
680 ” 16.10 ”
690 ” 16.18 ”
700 ” 16.25 ”
710 ” 17.01 ”
720 ” 17.09 ”
730 ” 17.17 ”
740 ” 17.24 ”
750 ” 18.00 ”
760 ” 18.08 ”
770 ” 18.15 ”
780 ” 18.23 ”
790 ” 18.31 ”
800 ” 19.07 ”
810 ” 19.14 ”
820 ” 19.22 ”
830 ” 19.29 ”
840 ” 20.05 ”
850 ” 20.13 ”
860 ” 20.20 ”
870 ” 20.28 ”
880 ” 21.04 ”
890 ” 21.11 ”
900 ” 21.19 ”
910 ” 21.27 ”
920 ” 22.02 ”
930 ” 22.10 ”
940 ” 22.18 ”
950 ” 22.25 ”
960 ” 23.01 ”
970 ” 23.09 ”
980 ” 23.17 ”
990 ” 23.24 ”
1000 ” 24.00 ”
--------------------

U. S. Mint Test for Gold and Silver.

The following is a test for determining whether coin is good or bad. Use the liquids as near the edge of suspected coin as possible, as that is the part most worn. A drop of the preparation will have no effect on genuine coin, while it can be plainly seen on the counterfeit. Coins should be scraped slightly before using:

TEST FOR GOLD.

Strong Nitric Acid (36°), 39 parts.
Muriatic Acid, 1 part.
Water, 20 parts.

TEST FOR SILVER.

24 grains Nitre of Silver.
30 drops Nitric Acid.
1 ounce Water.

The above tests should be taken in conjunction with _Diameter_, _Thickness_, and _Weight_, the tests used at the Mint.

GLOSSARY.

_Terms used in treating of Bullion, Mints, Coinage, and Money._

ASSAYING.—Chemical analysis of metals or ores. This term is employed in reference to mints and coinage, refers particularly to the process for determining the component parts and relative proportions of a mixed alloy of gold and silver, or the various alloys used for the manufacture of minor coins.

REFINING.—Extract of base from precious metals; usually performed by the aid of heat and oxidizing fluxes.

PARTING.—The separation of gold and silver when the two metals compose an alloy, either native or artificial, for the purpose of obtaining the metals, respectively, in the form of fine bars. This is accomplished, first, by dissolving the silver with acids and subsequently precipitating; or, second, by converting silver into chloride by heat and chlorine gas, and then reducing the chloride to a metallic state.

ALLOYING.—Compounding two or more metals together in suitable or legal proportions for coinage. Gold and silver are alloyed with copper for standard coins, and alloys are variously made of nickel and copper, or of copper, tin, and zinc for minor coins.

FINE BARS.—Gold and silver bars resulting from the operations of parting and refining. Bars containing 99 per cent. of pure metal are generally considered as fine bars.

UNPARTED BULLION.—Gold containing silver or silver containing gold which has not been subjected to the parting operation.

AMALGAM.—Gold and silver extracted from ores or other substances by the use of mercury and left in a porous or spongy condition, when the mercury is removed by distillation.

FINENESS.—A term indicating the proportion of pure metal contained in a piece of gold or silver. Fineness is expressed in thousandths; that is, pure metal is 1000. United States coin is ⁹⁰⁰⁄₁₀₀₀ fine, or decimally .900 fine. Fineness is estimated by jewelers and workers in the precious metals by “carats,” pure metal being 24 carats. Thus 22 carats, the British standard for gold coins, is ²²⁄₂₄, or decimally, 916⅔ fine.

DEPOSIT—MELTING.—The operation of melting a deposit of gold or silver at the Mint to secure a homogeneity of metals, preliminary to taking a sample for assaying.

REMEDY OF THE MINT.—The legal variation allowed from the fineness and weight prescribed by law for the coins.

TRIAL OF THE PYX.—The annual test made by special commissioners of the fineness and weight of coins reserved from each delivery of coin by the coiner to the superintendent. These coins are known as Pyx coins, because kept in a pyx or chest.

REFRACTORY BULLION.—Gold or silver bullion which contains a small percentage of lead, tin, or antimony, and which is therefore too hard or brittle to roll, cut, or stamp with facility.

WASTAGE.—The amount of gold and silver lost in the processes which these metals undergo preparatory to striking the coins. This “wastage” by law must not exceed a certain percentage of the gross amount of metals worked.

SWEEPINGS.—The ashes, fluxes, crucibles, sweepings, and all other refuse materials from rooms in which the metals are worked, containing a small amount of gold and silver.

STANDARD.—The weight and fineness fixed by law for the coins; hence the term “standard weight” or “standard fineness.”

BASE BULLION.—Gold or silver bullion not fit for coinage purposes, by reason of the presence of base metals, until refined.

MINT MARK.—The letter or mark on the coin, designating the mint at which it was struck; as “S” for San Francisco, “C C” for Carson City, “O” for New Orleans.[30]

MONEY OF ACCOUNT.—The ideal unit, or money term, in which accounts are stated or transactions made, as the _pound sterling_ of Great Britain, the _dollar_ of the United States, the _franc_ of France, and the _reichsmark_ of the German Empire.

COINS OF STANDARD VALUE.—In modern times a government first establishes a money of account or ideal unit, and then fixes by law the quantity of gold or silver which shall, in the form of a coin with unlimited legal-tender power, represent that ideal unit. Such coins, with their multiples and divisions, are termed “coins of standard value” or “standard coins.”

SUBSIDIARY COINS.—In the United States silver coins of less denomination than the dollar, which have a nominal value exceeding their intrinsic or bullion value, and limited as legal tender to sums not exceeding five dollars.

MINOR COINS.—Coins of small denominations used for change, and struck from other metals than gold or silver.

MINT PRICES OF GOLD AND SILVER (COINING VALUE).—The rate per standard ounce at which the mint converts bullion into legal-tender coins. The coining rate of an ounce of standard gold bullion, _i. e._, bullion ⁹⁰⁰⁄₁₀₀₀ fine in the United States is $18,604+. The coining rate of the silver dollar of 412½ grains, discontinued by law April 1, 1873, was $1.16⁴⁄₁₁ per standard ounce.

THE BASIS OF THE MONEY SYSTEM of all civilized nations is gold or silver, or both, in a ratio fixed by law. The relative valuation of the two metals in the coins of nations using the double standard, is about one of gold to _fifteen and a half of silver_.

_Partial List of Medals in Copper-Bronzed, also, in Gold and Silver, which may be obtained at the Mint._

Size. Price.
ARMY.

Washington before Boston 42 $2.50
Colonel William Washington, for Cowpens 28 1.50
Major-General Harrison, for the Thames 40 1.50
Major-General Scott, for Chippewa and Niagara 40 1.50
Major-General Gaines, for Fort Erie 40 1.50
Major-General Porter, for Chippewa, Niagara, and Erie 40 1.50
Major-General Macomb, Battle of Plattsburgh 40 1.50
Major-General Jackson, Battle of New Orleans 40 1.50
Major-General Taylor, Palo Alto 40 1.50
Major-General Taylor, for Monterey 40 1.50
Major-General Taylor, for Buena Vista 56 3.00
Major-General Scott, for Battles in Mexico 56 3.00
Major-General Grant 64 8.00
Colonel Lee, “Light-Horse Harry” 29 1.50
Count DeFleury, for Stony Point 15 2.25

NAVY.

John Paul Jones, for Serapis 36 2.00
Captain Hull, for Capture of Guerriere 40 1.50
Captain Jacob Jones, for Capture of the Frolic 40 1.50
Captain Decatur, for Capture of the Macedonian 40 1.50
Captain Bainbridge, for Capture of the Java 40 1.50
Captain Lawrence, for Capture of the Peacock 40 1.50
Captain Burrows, for Capture of the Boxer 40 1.50
Captain Perry, for Capture of British Fleet on Lake Erie 40 1.50
Captain Elliott, for Capture of British Fleet on Lake Erie 40 1.50
Captain Warrington, for Capture of the Epervier 40 1.50
Captain Blakely, for Capture of the Reindeer 40 1.50
Captain MacDonough, for Capture of the British Fleet on
Lake Champlain 40 1.50
Captain Henley, Capture of British Fleet on Lake Champlain 40 1.50
Lieut. Cassin, Capture of British Fleet on Lake Champlain 40 1.50
Captain Biddle, for Capture of the Penguin 40 1.50
Captain Stewart, for Capture of the Cyane and Levant 40 1.50
Captain Edw. Preble before Tripoli 40 1.50

PRESIDENTIAL.

John Adams 32 1.50
Thomas Jefferson 47 2.50
James Madison 40 1.50
James Monroe 40 1.50
John Q. Adams 40 1.50
Andrew Jackson 40 1.50
Martin Van Buren 40 1.50
John Tyler 40 1.50
James K. Polk 40 1.50
Zachary Taylor 40 1.50
Millard Fillmore 40 1.50
Franklin Pierce 40 1.50
James Buchanan 48 2.00
Abraham Lincoln 48 2.00
Andrew Johnson 48 2.00
Ulysses S. Grant 48 2.00
Rutherford B. Hayes 48 2.00
James A. Garfield 48 2.00
Chester A. Arthur 48 2.00

SUB-NATIONAL MEDALS.

Captain Perry (State of Pennsylvania), for Capture of the
British Fleet on Lake Erie 40 1.50
Pennsylvania Volunteers, Action on Lake Erie 40 1.50
Major-General Scott (Commonwealth of Virginia) 56 3.00

MISCELLANEOUS AMERICAN.

Professor Agassiz Medal 30 1.50
Colonel Armstrong, for Destruction of the Indian Village of
Kittanning 27 1.00
Captains Creighton, Low, and Stouffer, Wreck of Steamer
San Francisco 47 2.00
Captains Creighton, Low, and Stouffer, Wreck of Steamer
San Francisco, by Congress 50 3.00
Cornelius Vanderbilt, by Congress 48 2.50
First Steam Coinage 16 .25
Commodore M. C. Perry, from Merchants of Boston 40 2.00
Pacific Railroad Medal 29 1.25
Emancipation Proclamation Medal 29 1.00
Cyrus W. Field, Atlantic Cable Medal 64 8.00
Dr. Joseph Pancoast 48 3.00
Grant Indian Peace Medal 40 3.00
Garfield Indian Peace Medal (oblong) 2.00
Arthur Indian Peace Medal ” 2.00
“Let Us Have Peace” 29 1.25
Metis (Shipwreck) Medal 42 1.50
John Horn (Life Saving) Medal 30 1.00
U. S. Diplomatic Medal, July 4, 1776 45 2.00
Valley Forge Centennial 25 .50
Great Seal Medal 39 1.50

DIRECTORS OF THE MINT.

David Rittenhouse 28 1.25
Robert M. Patterson 42 1.50
James Ross Snowden 50 2.50
James Pollock 29 1.25
H. R. Linderman 50 2.00
James P. Kimball

SUPERINTENDENTS.

A. Loudon Snowden 50 2.00
Daniel M. Fox

FINE GOLD MEDALS.
(_See Rule 3._)

Time Increases His Fame 16 12.00
James A. Garfield 16 9.00
Commencement of Cabinet 12 6.25
Washington and Jackson 10 4.50
Lincoln and Garfield 10 4.50

FINE SILVER MEDALS.
(_See Rule 3._)

Cabinet Medal 37 6.00
Presidency Relinquished 25 3.00
Allegiance Medal 18 1.00
Time Increases His Fame 16 .75
James A. Garfield 16 .60
Pennsylvania Bi-Centennial 16 .50
Commencement of Cabinet 12 .35
Washington and Jackson 10 .25
Washington and Lincoln 10 .25
Washington and Grant 10 .25
Washington Wreath 10 .25
Lincoln and Grant 10 .25
Lincoln Broken Column 10 .25
Lincoln and Garfield 10 .25
Valley Forge Centennial 25 1.50

The diameter of the medals is expressed by numbers, each of which indicates the sixteenth of an inch.

Medals struck to order in gold, silver, or bronze, from dies of public institutions.

MEDALS AND CABINET COINS.

MINT OF THE UNITED STATES.

Philadelphia, January, 1888.

_Regulations._

1. The price of Medals, Proof Coins, Pattern Pieces, &c., shall be fixed by the Superintendent of the Mint, with the approval of the Director.

2. No Coin or Pattern Piece shall be struck after the year of its date, nor in any other metal or alloy than that in which the Coin was issued or intended to be issued, except experimental pieces in Copper or other soft metal to prove the dies, under the direction of the Superintendent. The dies shall be defaced at the end of each year, and such impressions as the Engraver may find necessary to take while preparing the dies shall be destroyed in the presence of the Superintendent when the dies are finished.

3. When a Pattern Piece is adopted and used in the regular coinage in the same year it shall then be issued as a proof, at a price near its current value; or if it comes out early in the year, it will be placed in the regular Proof Set. The Superintendent will furnish, without charge, on application therefor, a Pattern Piece to any incorporated Numismatic Society in the United States. In such cases, if the pattern is in Gold or Silver, the value of the metal will be required.

4. The price of the regular Proof Set of Gold Coins will be Forty-three Dollars; the Proof Set of Silver and Minor Coins, Three Dollars. Single Gold Pieces, in proof, are sold at Twenty-five Cents each above their intrinsic value. Silver Sets are not separated. Proof sets are furnished of the current year only. The Mint has no Coins or Sets of back dates for sale.

5. The Coins of the United States are:—

GOLD. SILVER. COPPER-NICKEL.
Double-Eagle, Dollar, Five Cents.
Eagle, Half-Dollar, Three Cents.
Half-Eagle, Quarter-Dollar,
Three-Dollar, Dime. BRONZE.
Quarter-Eagle, One Cent.
Dollar.

The coinage of the Silver Dollar of 412½ grains, the Five and Three-Cent Silver Pieces and Bronze Two-Cent Pieces was discontinued in 1873, but the Silver Dollar was restored by the Act of February 28, 1878.

All orders must be sent to Superintendent of the Mint at Philadelphia.

DANIEL M. FOX,
_Superintendent_.

PORTRAIT OF WASHINGTON.

The frontispiece in the bound volume of this book, is an exact reproduction, by the Gutekunst phototype process, of the obverse of the Washington medal executed by Charles C. Wright, about the year 1850, and particularly described on page 34 of the “Medallic Portraits of Washington,” by W. S. Baker, lately published (the price of which is five dollars). The bust was modeled by Wright, after the original by the celebrated French sculptor, Jean Antoine Houdon, executed from a cast taken from the face of Washington at Mount Vernon, in October, 1785, and is considered by good judges to be the best medallic portrait of Washington yet produced. An impression of the medal is in the Washington Cabinet of the Mint; the reverse presents an excellent copy of Trumbull’s well known picture of the Declaration of Independence.

JANUARY 1888.

COIN (APPROXIMATE) PRICE CURRENT.

Prepared by Mason & Co., Coin Dealers, 175 Washington St., Boston. Mass.

GOLD COLONIAL COINS.

FINE. GOOD.
1785, Justice-eye, “Immune Columbia” $600.00 $500.00
1787, Sun-eagle, “Nova Eboraca” 300.00 150.00

SILVER COLONIALS.

1652, N. E. XII, New-England shilling $35.00 $25.00
1652, ” VI, ” sixpence 40.00 20.00
1652, ” III, ” threepence 100.00 40.00
1650, Pinetree XII, “Masathusets” shilling 45.00 30.00
1652, ” ” “Massachusets” ” 10.00 5.00
1652, ” Smaller and thicker ” 8.00 3.00
1652, ” XII, “Masatusets” variety shilling 25.00 15.00
1652, ” VI, “Masachusets” sixpence 15.00 5.00
1652, ” III, ” threepence 15.00 5.00
1652, ” II, ” twopence 15.00 5.00
1652, Oaktree XII, ” shilling 5.00 3.00
1652, ” VI, ” sixpence 6.00 4.00
1652, ” III, ” threepence 8.00 4.00
1662, ” II, ” twopence 8.00 4.00
1662, ” I, ” penny 30.00 10.00
1659, head, shield, Lord Baltimore shilling 15.00 10.00
1659, ” ” ” sixpence 20.00 10.00
1659, ” ” ” fourpence 20.00 10.00
1760, Charles III. rose, Florida half dollar 30.00 20.00
1773, George III. shield, Virginia shilling 20.00 15.00
1783, U. S. 1000-eye, “Nova Constellatio” 200.00 100.00
1783, ” 500-eye, ” ” 150.00 75.00
1785, ” Justice-eye, “Nova Constellatio” quarter
dollar 75.00 40.00
1783, hands clasped, Annapolis shilling 15.00 5.00
1783, ” ” sixpence 15.00 8.00
1783, ” ” threepence 15.00 8.00
1790, head “Standish Barry” ” 25.00 10.00
1796, female head, “Castorland” half dollar 2.00 1.50

TIN COLONIAL.

1690, horseman-shields, James II. tin piece $3.00 $1.50
1776, Sun-dial, “Continental Currency” 15.00 5.00

COLONIAL COPPER COINS.

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Illustrated history of the United States mintChapter VII: Part 7

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