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CALIFORNIA
STATE LIBRARY
C«« No.
I
,:\ D I'1, I Ml
Digitized by the Internet Archive
in 2012 with funding from
California State Library Califa/LSTA Grant
http://archive.org/details/manualofgold1842jaco
A MANUAL
OF
GOLD AND SILVER COINS
OF ALL NATIONS,
STRUCK WITHIN THE PAST CENTURY.
SHOWING THEIR HISTORY, AND LEGAL BASIS, AND THEIR ACTUAL WEIGHT, FINENESS, AND
VALUE, CHIEFLY FROM ORIGINAL AND RECENT ASSAYS.
WITH WHICH ARE INCORPORATED
TREATISES ON BULLION AND PLATE, COUNTERFEIT COINS, SPECIFIC GRAVITY OF PRECIOUS METALS, ETC.
WITH RECENT STATISTICS OF THE PRODUCTION AND COINAGE OF GOLD AND SILVER IN
THE WORLD, AND SUNDRY USEFUL TABLES.
BY
JACOB R. ECKFELDT, AND WILLIAM E. DU BOIS,
ASSAYERS OF THE MINT OF THE UNITED STATES.
ILLUSTRATED BY NUMEROUS E N G- E, A VI N G- S OF COINS,
EXECUTED BY THE MEDAL-RULING MACHINE, AND UNDER THE DIRECTION, OF
JOSEPH SAXTON,
OF THE UNITED STATES MINT.
PHILADELPHIA:
PUBLISHED AT THE ASSAY OFFICE OF THE MINT.
SOLD BY
CAREY AND HART, J. DOBSON, AND J. TCHETHAM AND SON, CHESTNUT STREET, PHILADELPHIA.
JAMES MUNROE AND CO., WASHINGTON STREET, BOSTON.
WILEY AND PUTNAM, BROADWAY, NEW YORK, AND PATERNOSTER ROW, LONDON.
HECTOR BOSSANGE, (JUAI VOLTAIRE, PARIS.
PERTHES, BESSER AND MAUKE, HAMBURG.
1842.
Entered according to the Act of Congress, in the year 1842, by Jacob R. Eckfeldt, and William
E. Dc Bois, in the Clerk's Office of the District Court of the United States in and for the Eastern
District of Pennsylvania.
C. SHERMAN, PRINTER, It' ST. JAMES STREET.
TO
ROBERT M. PATTERSON, M. D.,
DIRECTOR OF THE MINTS OF THE UNITED STATES, VICE PRESIDENT OF THE AMERICAN
PHILOSOPHICAL SOCIETY, &C. &C.
Dear Sir,
In the publication of the ensuing work, the authors find a proper occasion of
testifying their sense of your personal and official merit, by inscribing upon it your
name. Be pleased to accept this dedication, with the warm regards of
Your faithful servants,
JACOB R. ECKFELDT,
Assayer.
WILLIAM E. DU BOIS,
Assistant Assayer.
INTRODUCTION.
A new book of coins seems to be required by the commercial world about once in
twenty years. In 1806, the " Traite des Monnaies" of M. Bonneville appeared, and
perfected the science of real moneys to that date. When the second and improved
edition of Dr. Kelly's " Universal Cambist" was published (in 1821,) although based
in part upon the great standard just referred to, it had numerous alterations to supply ;
new nations had sprung into existence, old ones had been blotted out, the whole retinue
of Napoleonic sovereignties was transformed, and the world had another currency.
So we, from this year of 1842, looking back upon the time which has elapsed
since the Cambist appeared, perceive even greater changes in the constitution of
nations, and the order of their coinage. This last monetary cycle has witnessed the
origin of the kingdoms of Belgium and Greece in the old world, and in the new, the
Empire of Brazil, and the whole catalogue of Spanish American republics, claiming
a prominent place by the abundance of their gold and silver. Besides, there have
been many and essential changes in the moneys of other countries ; insomuch that of
the money systems of the sixty nations treated of in our second chapter, only eighteen
remain as they are found in Kelly's work, and nine as in Bonneville's. Again, even
if so great alterations had not ensued in the laws of coinage, experience proves that a
watch must be kept upon the practice, and mint-assayers are continually testing the
coins of foreign countries, choosing rather to trust to the cupel and balance, than
to codes and allowances. From time to time, it devolves upon some of them to em-
body their results in a manual for public use. Since the opening of the nineteenth
century, France has given the first standard of this sort, England has supplied the
second, and a third is now offered from the United States.
In this undertaking, singular facilities have been afforded us. We have operated
on nearly all the kinds of coin current in the world for a hundred years past, and in
l
jj INTRODUCTION.
the most important instances, upon considerable masses of them, and by frequent
repetitions ; so that a fair average has been attained. Out of 760 assays of coin
stated in the second chapter, six-sevenths are original; the remainder, consisting
chiefly of the older European and Oriental moneys, have been taken from Bonneville
and Kelly, with a few from Becher. We have also had the advantage of an extensive
correspondence, opened and conducted at our request, by the present Director of the
Mint, with foreign ministers and consuls of the United States. Nor would we forget
the encouragement extended by the entire corps of our fellow-officers, to whose
courtesy and worth it is a pleasure to bear testimony. Still, the labour of the enter-
prise has been such as to take from us, during three years past, most of the leisure
which the daily and often urgent routine of official business allows.
But we have aimed to do something more than to satisfy those who deal or take an
interest in coins. The whole subject of Bullion demanded a methodical treatise ;
this has been attempted in the third chapter, and it is hoped will be found useful to
those engaged in mining, or in trading with mining countries. In the fourth chapter,
we have ventured to handle Counterfeit Coins. M. Chaudet, in his recent work " L'Art
de l'Essayeur," expresses his surprise that this subject has not found a place in the
works of assayers, and makes a valuable contribution to it, in the chapter " De l'ex-
amen des fausses monnaies francaises." We have taken advantage of some of his
suggestions, but not without laying the ground anew, and submitting the whole
matter to a practical and patient investigation. Our fifth chapter contains an
original and extensive series of results in the specific gravity of the precious metals,
important alike to men of science, and men of business. In the sixth chapter, we
have sought to interest not only artists, but all who have a taste for engravings, by a
brief history of the new process of machine engraving, and by numerous specimens of
what it is able to achieve. The plates are fully described, and an attempt is made to
acquaint ordinary readers with an easy method of distinguishing Oriental coins. In
the appendix are statistics of various kinds relating to coinage, and tables of daily use
to dealers in money, most of which are nowhere else accessible in print.
Assay-Office of the Mist of the United States,
Philadelphia, June 1842.
CONTESTS.
CHAPTER I.
Hanse Towns (Hamburg,
&c.) .
. 65
Hesse (Cassel, Darmstadt
&c.)
67
General Principles of Coinage .
5
Hindustan
. 69
Material for coins, and their alloy
. 5
Japan
74
Their shape, and manufacture
10
Malay Archipelago (Java,
&c.) .
. 74
Impressions on them
. 15
Mauritius .
76
Right of coinage
17
Mecklenburg
Mexico
. 76
77
CHAPTER II.
Milan .
Morocco
. 85
87
Systems of Coinage of Various Nations . 19
Naples .
. 87
Method of this chapter
19
Nassau
90
Argentine Republic (La Plata) .
. 19
Netherlands
. 90
Austria ....
20
Norway
94
Baden ....
. 25
Persia .
. 95
Bavaria ....
26
Peru
97
Belgium
. 28
Poland .
. 98
Bolivia ....
30
Portugal
100
Brazil ....
. 31
Prussia
103
Britain ....
33
Rome
106
Brunswick
. 40
Russia .
109
Burmah ....
42
Sardinia
112
Central America
. 42
Saxony
114
Chili ....
43
Sierra Leone
117
China ....
. 44
Spain
117
Cochin China
46
Sweden
123
Colombia, (New Granada, &c.)
. 46
Switzerland
124
Denmark ....
49
Tripoli
128
Egypt ....
. 51
Tunis .
130
France ....
53
Turkey
132
Germany ....
. 58
Tuscany
134
Greece ....
61
United States
138
Guiana (Demerary, &c.)
. 62
Venice .
144
Hanover ....
63
West Indies
145
TABLE OF CONTENTS.
Westphalia
. 147
Wurtemberg
CHAPTER III.
148
Gold and Silv
ek Bullion .
. 149
Gold grains or dust
150
Gold amalgam
. 153
Laminated gold
154
Gold bars
. 154
Jewelry
156
Coined gold — Reid's and Bechtler's coins
. 159
Silver amalgam,
or platapina
162
Silver bars
. 162
Plate
.
163
Coined silver .
.
. 164
Mixed bullion
165
CHAPTER IV.
Counterfeit Coins .
Sensible tests
Mechanical tests
Chemical tests
Table of counterfeits .
CHAPTER V.
Specific Gravity of Gold and Silver
Method of taking specific gravity .
Table of specific gravity of gold
Table of specific gravity of silver .
CHAPTER VI.
Description of the Plates .
167
170
174
176
178
180
181
182
185
186
History of machine engraving . . 186
Plate I. to XVI. . . .189 to 199
Method of distinguishing Oriental coins . 200
APPENDIX.
Statistics of Coinage
1. United States .
2. Mexico
3. Peru .
4. Chili
5. Bolivia
6. Great Britain
7. France
8. Austria
9. Prussia
10. Spain
Summary table of coinage, in proportion to popu-
lation . . . .
Proportion of coinage in large and small pieces
Production of gold and silver .
Table A. — Comparison of various modes of ex-
pressing the fineness of gold and silver
Table B. — Value, in U. S. money, of silver and
gold, of standard fineness, (900 thous.) from
1 to 100 ounces troy
Table C. — Value, in U. S. money, of one ounce
troy, of silver or gold, at different degrees
of fineness ....
Table D. — Equivalent of U. S. cents in British
and French moneys
203
203
204
205
206
206
207
208
210
210
211
211
212
212
213
215
216
217
A MANUAL OF COINS AND BULLION.
CHAPTER I.
GENERAL PRINCIPLES OF COINAGE.
IT has been truly remarked, that the citizens of any country have commonly very
little idea of the composition of their own coins. Among the many respectable and
educated persons who visit our Mint, to witness its operations, not a few learn, for
the first time, what is the difference between fine and standard gold or silver ; what
are the reasons for mixing the base with the precious metals, and in what proportion
this mixture is made. And in general, there is a want of information in regard to
these metals, especially in the shape of coin, which, considering how incessantly they
are passing from hand to hand, how earnestly sought after, and how diligently amassed,
is a matter of just surprise.
Such being the fact, it will be admissible, in the present work, to open with
some of the general principles of coinage, as they may be gathered from the con-
current practice of most countries.
We shall therefore offer a few propositions and facts, under the following four heads
of inquiry :
I. Of what coins are made.
II. Of the shape of coins; and their manufacture.
III. Of the impressions on coins.
IV. Of the power of coining ; to whom entrusted.
I. OF WHAT COINS ARE MADE.
It is an interesting inquiry to ascertain how, among all the products of nature, ihe
metals came to be singled out, as the proper material for money. The reasons, what-
ever they are, must be of universal application ; since the case is so, not in a few
countries only, but in every part of the world, where mankind has been reclaimed
2
6 OF WHAT COINS ARE MADE.
from savage life. But this is a research of Political Economy ; and it has been ably
prosecuted, in many treatises on that branch of science. We borrow from them the
definition of money, and the substance of which it should be made.
" Money is a standard measure, by which the values of all things are regulated and
ascertained ; and is itself, at the same time, the value or equivalent for which goods are
delivered." This is a standing definition, given by all authors, from Aristotle down
to the present time*
It is equally well settled, that this standard of measure should be a scarce and
valuable substance ; not necessarily bulky ; capable of being divided, without impair-
ing its value; of sustaining no injury from the atmosphere, from much handling, from
fire, water, or any of the ordinary exposures and accidents : — or, if thus injured,
easily restored again ; that it should be not unpleasant to the sight and the touch ;
and that it should be capable of receiving some distinctive and permanent impres-
sion, by which to be recognised at sight. These various requisites point to the metals
as the only proper substance.
THE METALS USED.
There are thirty-five metals known at this day. Of these, seven, viz : gold, silver,
copper, tin, iron, lead, and mercury, have been known from all antiquity. Fourteen
were discovered from the fifteenth century to the commencement of the present :
among which are antimony, bismuth, nickel, platinum, and zinc. The remaining
fourteen have come to light since the year 1802: such are palladium, iridium, rho-
dium, &ct
Of all these, the greater part are entirely unfit for coins. Many of them, such as
iron, lead, zinc, and tin, are too cheap ; others, like antimony, bismuth, &c. are too
brittle, and cannot be wrought.
Again, only a few of them are actually wanted. Such a variety as six or eight
would create confusion. The common consent of men has pitched upon three, as
the proper number ; one, highly precious, for large transactions ; another, much less
so, for ordinary purchases, and a third, still lower in value, to supply the smallest
dealings.
The three metals thus every where selected, are gold, silver, and copper. \ They are
* Treatise of the Earl of Liverpool on the Coins of the Realm, p. 8; Lond. 1805. — Prof. Vethake employs a sim-
pler expression : — " Money is that commodity which is most frequently exchanged for every other." — Political
Economy, p. 23 ; Philadelphia, 1838.
f Chaudet's Art de VEssayeur, ch. xviii ; Paris, 1835.
\ It is well established, however, that there can be but one uniform measure of value. For example ; gold was for-
merly worth eleven or twelve times as much as silver ; at present, it is fifteen or sixteen times ; which fluctuation at
once gives rise to a gold and a silver valuation, or two standards. Such changes in the relative value are usually
very gradual ; still, the monetary laws of a country cannot promptly follow them, and therefore one of the metals is
OF WHAT COINS ARE MADE. 7
believed to have been the earliest metals discovered ; and a beneficent Providence has
certainly endowed them with properties which peculiarly fit them for a circulating
medium, an end so important to the happiness and progress of society.
The requisite qualities already mentioned, they possess in an eminent degree. But
a few particulars may be added.
Gold is found in nature usually mixed with other metals, such as silver, tin, &c,
besides being involved in earthy substances ; but from all these it is separable with
ease and certainty.
It is very scarce ; but the annual produce is remarkably steady, and the quantity in
market is not subject to sudden and great fluctuations.
It is remarkable for weight; being 193 times heavier than water,* and next to pla-
tinum, the heaviest known substance.
It is remarkable for beauty, being of a peculiar yellow colour, and affording a re-
splendent polish ; for which reasons, added to its rareness, it is much in demand for
ornamental purposes, and hence acquires an intrinsic value. It is also of great use in
some of the fine and common arts of life, which adds to its intrinsic worth.
It is very ductile ; easily wrought and stamped ; can be melted by an easy process,
and does not waste by that operation.
Once more, it may be stated, that when alloyed with other metals, its proportion
can be speedily and certainly ascertained.
Silver possesses many of the above valuable properties, though in a less degree. Its
specific gravity is 10-5; its colour is a clear white; as to value, 15£ to 16 ounces of
it are, at the present day, equal to one of gold.
Copper, being comparatively plenty, and easily oxidable, is not considered as a pre-
cious metal. Nevertheless, experience proves that the smallest bits of silver, capable
of receiving a stamp, are not small enough for many of the ordinary dealings; copper,
therefore, has been resorted to, as in every respect preferable to the other base metals.
Its specific gravity is 8-9 ; its colour is a deep red ; its value is about one-fiftieth that
of silver.f
Gold and silver coins pass freely from one country to another ; in general, receiving
a new form, at the respective national mints. But copper coins, being of low and arbi-
trary value, never travel beyond their own land.
usually at a premium, against the other. The late Mr. Raguet proposed that gold coins should be of known weights,
such as an ounce, half ounce, &c, and suffered to pass at their market value, without affixing any legal price upon
them. Treatise on Banking, pp. 12 and 211 ; Phila. 1839.
* In the technical term, which we shall hereafter use, this is its specific gravity. For various researches on this
interesting subject, see Chapter V.
t A fourth metal, platinum, has recently been used for coinage in Russia, where it is produced in considerable quan-
tities. Tt holds a rank between gold and silver, as to value. The example is not likely to be followed by other coun-
tries. See art. Russia.
8 THE ALLOY OF COINS.
In respect to the use of these three metals for coinage, it is farther to be observed,
that copper alone is fit to be employed in a pure or unalloyed state. It is true that
gold and silver are used, in some countries, in a state of absolute or approximate
fineness ; for example, the sequins of Tuscany, and the florins of Hanover. But the
general usage is quite otherwise, and for good reason. Those metals, in their purity,
are soft, easily bent or injured, and exposed to rapid wear. They are greatly bene-
fitted, for coining purposes, by being moderately hardened ; and this is best done by
the admixture of copper.
To what degree gold and silver should be alloyed, is by no means a settled question.
A very prevalent proportion has been one-twelfth ; that is, that any given weight of
mixed metal, ready for coining, should contain eleven parts pure, and one part alloy.
Other proportions, however, are common ; such as, one-tenth ; one-eighth ; one-sixth ;
one-fourth. But the practice of Spanish America, from whence the world is chiefly
supplied with silver, has given a tone to the systems of other countries. For many
years, the dollars from that region have been alloyed about one-tenth. These are
mostly recoined when they reach other parts of the world ; and as it is an advantage
to make as little change as possible, in the mixture, and as that mixture falls in so
well with the decimal proportion, of one part alloy in ten, and effects a proper degree
of hardness in the metal, it is gaining favour in many nations, and in the course of
time may become a universal law. The silver coins of Spain, Spanish America, and
parts of Germany, and both gold and silver of France, Belgium, Rome, the United
States, and other countries, are now alloyed at this rate.
Another unsettled question is, as to what the alloy of the gold coins should be. In
Spanish America, finding that silver is mixed with the gold in its natural state, they
have made that the alloying metal, without introducing copper ; though the practice
is now changing there. On the other hand, Great Britain, France, Germany, and
some other countries, are now endeavouring to rid their gold coins of silver entirely,
using copper only, as the alloy. These two extremes give rise to a great diversity of
colour in gold coins ; the doubloons are often sadly pale, and the sovereigns sus-
piciously red. In the United States, it is thought very desirable to maintain a gold
colour; which is best attained by using both silver and copper. Our law provides that
the alloy should consist of not more than one-half silver ; the practice of the Mint is
to approach the ratio of one-fourth. That is to say, of any given weight of mixed
metal, prepared for coining, there shall be of gold, 900 parts; of silver, 25 parts; of
copper, 75 parts; = 1000.
Considering the practice of most countries, the weight of authority is in favour of
keeping a small proportion of silver in the gold coins.
A third unsettled question is, whether the silver coins, large and small, of any one
country, should all be of the same fineness. In some nations, it has been a long esta-
THE BILLON SYSTEM. 9
Wished principle to make the small coins of very, base alloy, the silver constituting
only one-half, one-third, and even one-fourth ; which mixtures, as they can properly
be called neither silver nor copper, have received the name of billon*
To make this the more intelligible to an American reader, we will suppose that
our denominations of silver coin, and their intrinsic value, remain as at present ; but
that their standards should vary, as follows :
The dollar, at 412^ grains, nine-tenths fine.
The half-dollar, 206? grains, nine-tenths fine.
The quarter-dollar, I805 grains, five-tenths fine.
The dime, 124 grains, three-tenths fine.
The half-dime, 92f grains, two-tenths fine.
Such would be our system, if we took Austria, the German States, Denmark, and
some other countries, for our pattern. But why such a diversity of mixtures? For
no other reason, than to make the piece more bulky and tangible ; thus, at the above
rate, our half-dime would be nearly as large as the present quarter-dollar: and one
cent, instead of the present large copper piece, would be represented in a coin
scarcely smaller than the present half-dime. But these low alloys, although when first
issued they have a silvery surface, soon obtain a bad colour by wear, and if very base,
can hardly be distinguished from mere copper. They can also be easily imitated.
Further, the large amount of copper put in them, is nearly thrown away, since the
value of a coin is ascertained by the amount of pure metal in it ; and lastly, the silver
cannot be recovered from such mixtures, without great expense and loss. For these
and other reasons, it is the prevailing practice to make all the coins, large and small,
of one fineness.
It should be remarked, that in countries where billon is used, the coins made of it
are not of full intrinsic value, but are made to yield a profit to the government.
The coins of Turkey and the Barbary Powers, are all made of a low alloy of silver.
The reason there is, that as the money is to be forced upon the people at an arbi-
trary and fictitious value, the less silver that is used the better, provided there is some
plausible show of the precious metal. But this policy does not prevail in other
Mohammedan countries, as Egypt and Persia, nor in countries farther East.
The series of gold coins, in every country, is always maintained at the same fine-
ness.
* This is a French word, and is traced back to the money-dealers of Lombardy and Venice, who, during the bloody
strife between the Guelphs and Gibellines in the thirteenth century, escaped to various parts of Europe. The words
bilan, agio, cambiste, usance, &c. now every where familiar, were introduced by the Lombards. Mongez, Memoire
sur V Art du Monnoyage, &c., p. 220.
3
10 THE SHAPE OF COINS.
II. OF THE SHAPE OF COINS AND THEIR MANUFACTURE.
Coins are generally ma.de Jlat, circular, and thin.
By being flattened, they receive better impressions ; are conveniently handled,
counted, and piled. The exceptions to this rule are, the silver tical of Siam, shaped
somewhat like a bullet, and impressed only by a few small marks ; and the star
pagoda of India, which is a convex lump.
They are also more convenient for being circular. Any other shaped edge would
retard the process of coining very much ; besides, angular pieces would not only be
exposed to increased wear, but would themselves wear upon other substances ; few
would choose to carry them in the pocket. An attempt at the circular form has
generally been made, in all ages ; but it is since the seventh or eighth century of the
Christian era, that a true circle has been attained* The ancient practice was, to
cast the metal into a convex button, and then give it an impression, with great force.
From this operation, the edge remained pretty nearly in a circular line, though often
with fissures and rough places. The cobs, or coins of Spanish America, of about a
century ago, were of all manner of shapes, being struck with a hammer, and clipped
to their proper weight ; leaving ample opportunity for future clipping without detec-
tion. Other specimens there are, of a more regular workmanship, in which the
angular form has been expressly aimed at ; as for instance, the square ducat of
Nuremberg ; the square rupees of the Mogul empire ; the parallelograms of Japan ;
and the octagonal pieces of Assam.
Coins are also made thin. By this we only mean, that they are rather in plates,
than in blocks. There is a great variety in the thickness of coins ; and this is com-
monly proportioned to the diameter ; a small piece being much thinner than a larger
one. But this rule is not universal. The miscal, or dollar of Morocco, is one-third less
in breadth than the quadruple ducat of Austria, yet is six times as thick.
The purposes for which coins are fabricated, demand that they should be convenient
to handle, and to carry about the person ; neither too large, nor too small. They
must be less than a medal, and larger than a spangle. Yet there is a great diversity
of opinion as to what the public will require, or endure, in this respect. The heaviest
coin of modern times, is the golden five-moidore piece of Portugal, struck about a
century ago, weighing 828 grains, and worth $32-70. The smallest coin is the
Turkish para, of the present sultan; which weighs from 1| to 2| grains, contains a
small portion of silver, and is one-thirtieth of our cent.
* Pinkerton's Essay on Metals, i. 68.
THE SIZE OK COINS. 1 |
The following particulars may be observed, of coins of the different metals.
Coins in gold generally vary in size from the ducat to the doubloon ; which is from
53i to 416i grains in weight, and from #2-26 to $15-56 in value. The scope of our
coinage is from the eagle, or ten dollar piece, of 258 grains, to the quarter-eagle, of
64A grains*
As to silver coins, our own series well represents the usual scope. A smaller piece
than our half-dime (20^ grains) is seldom used. On the other hand our dollar is near
the usual weight and value of the crowns and dollars of other countries, which are
found a good size, both for currency at home, and for exportation. Pieces of less
value than our half-dollar generally abide, like the copper, in their own country .t
Of copper coins, there are in our monetary system, two denominations ; the cent,
of 168 grains, and the half-cent. The latter is nowhere used, and even the cent is
scouted in some parts of the Union, especially at the South and West, where the
citizens do not deign to buy any thing under the value of a half-dime, or a Spanish
medio. But in many other countries, the case is quite different. For example, the
pfennig (penny) of Saxony, weighs but 24 grains ; and the centime of Geneva, which
must be the smallest bit of copper money in Europe, is 14 grains, or just one-twelfth
of our cent.
It would be interesting to compare New Orleans with Geneva, with a view to
ascertain what can be the difference in their social condition, when the smallest coin
of the one, is sixty times more valuable than the minimum of the other. What can
the Genevese buy with a centime, or the Turk with a para? It is a matter of wonder
to us in the western world.
On the other hand, the Russian czar supplies his subjects with copper coins, the
largest of which, if they were cheap enough, might almost serve the ends of whole-
sale dealers in that metal. A piece of 1795 weighs 890 grains; about 5J times as
much as our cent. The ten copeck piece of the present emperor, the arbitrary value
of which is one-tenth of a rouble, or 7j cents, weighs 700 grains, equal to the weight
of 4J cents.
In this connexion it is curious to notice the very great difference in value, between
the nominal coins of countries. Every national system of currency has its integer,
unit, or starting-point. In the United States, this is the dollar ; in Great Britain, it
is the sovereign, or pound sterling. Observe then the disparity, even in contiguous
regions. The nominal coin of Britain, the highest, in the world, is equivalent to $4-84
in our money. That of France (just over the channel) is the franc, worth I85 cents.
In Holland, and a large part of Germany, it is the florin, about 40 cents ; in Austria,
* The proposition made some years since, to coin gold dollars, was decided to be injudicious, and therefore
abandoned.
t The measurements of our coins, both singly and in large packages, will be detailed hereafter.
12 MANUFACTURE OF COINS.
another florin, worth 48i cents; in Turkey, the piastre, " of no particular value," but
at present about 4 cents. This disparity shows itself in the display of figures, and has
its effect upon the eye and the mind, when we read of salaries or subsidies. If we
instance the pay of the governor of the British settlement at Good Hope, which is
£6000 per annum, we shall find its magnitude increasing upon us, if it be expressed
as a sum of 29,000 dollars, or 156,000 francs, or 726,000 piastres. So the tribute of a
pasha, or a loan to the sultan, which, when stated in Turkish money, seems enough
to drain the money market, dwindles into a mere annuity, when measured by the
British unit.
Considering the ordinary course of business transactions, and the prevalence of the
Spanish- American dollar over the world, we of this country may, on the whole, rest
satisfied with the dollar as our money unit. It is a good medium between the widely-
differing integers of England and France, with whom we have most intercourse.
The reader will now be disposed to inquire, by what process the metals are shaped
into coins ? — which will lead us to a description, not too minute, of this manufacture.
Under the ancient Roman empire, this was a laborious operation, requiring many
artists and workmen. They had first the Optio, or Director ; then the Exactores, or
Nummularii, Assayers ; Scalptores or Calatores, Engravers of the dies, who were usually
Greek artists ; Cenarii, Refiners ; Fusarii, or Flatuarii, Melters ; Equatores, Adjusters
of weight, and Signatores, who certified the same ; Suppostores, who put the pieces on
the die, and Malleatores, who struck the blow* The whole body constituted a corpo-
ration in law : and so numerous were they, that on one occasion, under the Emperor
Aurelian (a.d. 274) they were excited to a revolt, and killed seven thousand soldiers,
before they could be subdued ; from which incidental fact it is plausibly inferred that
they themselves must have been at least seven thousand strong.t
Their process is briefly thus stated : The metal, when assayed and refined, was cast
by the melters in the shape of bullets, in order to assist the high relief; the busts on
Roman coin being prominent to a degree not known in modern times. These bullets
were then placed between the dies, and received the impression by repeated strokes
of the hammer. The edges of the piece, not being confined by a collar, as in our
day, were allowed to spread out as they might, and therefore presented an irregular
line, approaching to a circle. It would seem that in some cases a large stone was
made to drop upon the piece, and so produce the impression.^
Thus much for ancient minting. It would be interesting to trace the progress of
the art, especially in France and England ; but we must proceed at once to state the
* Pinkerton on Medals, i. 67 ; and M. Mongez, " Memoires sur l'Art du Monnoyage chez les Anciens," &c. in the
Transactions of the Royal Inst, of France, p. 218; 1831.
f Mongez.
I Pinkerton.
MANUFACTURE OF COINS. 13
modern process; and in the hope that our own will be acknowledged as a fair speci-
men, the routine of this Mint will here be given.
Bullion is brought to the Mint in every form ; amalgamations from the ore, bars,
plate, jewelry, and foreign coin* All these present a great variety as to quality.
Some of the metal will be nearly pure ; other portions will be of lower grade, and in
every proportion, down to two-thirds fine, or less. Part will also be ductile, and fit
to work ; part will be brittle, and will require a process of toughening. Once more,
a deposit will often consist of the two metals, gold and silver, in a mixed mass,
requiring to be parted by chemical agents. To ascertain all these points is the busi-
ness of the Assayer.
To bring this heterogeneous mass into good malleable metal, and to separate the
gold from the silver, are not strictly Mint operations. In some countries, these pre-
liminary processes have to be performed by private refiners. At the Mint of the
United States, a department is provided for the parting, refining, and standarding of
the metals, and casting them into ingots or small bars, suitable for the manufacture
of coin.t These bars are about twelve inches long, half an inch thick, and from one
to one and a half inches in width, according as they are to be used for different sizes
of coin. Before they can be wrought, their fineness is tested by an assay ; and those
which are found better or worse than the legal limits, are sent back to be melted and
cast over again, at the proper rate.
The ingots, being approved, are annealed or heated to redness, to soften them for
rolling ; and by the power of a steam-engine, they are rolled out into long and thin
strips. In this form they are carried to the drawing bench, where, by the same
engine, they are drawn slowly through the drawing dies, or plates of the hardest
steel, nicely set to reduce the strips to their proper thickness. In the next place, they
are passed through the cutting press, also moved by steam, and pieces or planchets of
the true size are cut out. The punch moves so rapidly, that one hundred and sixty
planchets are, on an average, cut out in one minute. After this process, the strip,
now full of holes, is folded up, and sent back to the melting-pot.
The next step is to raise the edge of the planchet to afford a protection to the
surface of the coin. This is done by the milling machine, in which the edge is
compressed, and forced up ; and which moves so nimbly, in its present state of perfec-
tion, that 560 half-dimes can be milled in a minute ; but for large pieces the average
is 120.
The planchets are then cleaned, annealed, and whitened, by a course of treatment
not necessary to be particularized in this place. The gold pieces are next adjusted
in their weight, piece by piece ; the silver pieces, having before been tested by sam-
* Details are given in the chapter on Bullion.
+ This department is now in the charge of Dr. J. R. McClintock, who is styled the Melter and Refiner.
4
14 MANUFACTURE OP COINS.
pies from each strip, do not require such critical accuracy. After coinage, their
weight is proved, by quantities.
The pieces are now ready for stamping. To effect this there is a machine, of new
construction, moved by steam-power, which receives the planchets in a tube, from the
hand of a workman ; and of itself, slides them one by one to the proper point,
within a steel collar, and between the coining dies. There, by a rotary motion, it
silently but powerfully impresses the piece, and instantly pushes it away, a perfect
coin, to be followed as instantly by another. And thus the coins, after counting and
packing, are ready to be handed over to him who brought the bullion*
The coining dies, we should state, are prepared by an engraver, specially main-
tained at the Mint for that purpose.t The devices and legends are first cut in soft
steel ; those parts being sunk which on the coin are raised.^ This, being finished
and hardened, constitutes what is called an original die. Being the fruit of a tedious
and difficult labour, it is not used for coining, but for multiplying dies. It is first
used to impress another piece of steel in its soft state, which then appears like the
coin, the letters being raised ; and is called a hub. This hub being hardened, im-
presses other pieces of steel, which, being the opposite of the coin as to the raised
and sunken parts, are the coining dies. A pair of them will, on an average, perform
two weeks' work.
The coining presses are of various sizes, to suit the different denominations of
coin ; those for the dollar and the half-dime, compared together, are as a pon-
derous machine by the side of a plaything. The usual speed of striking is sixty
pieces per minute for the dollar and half-dollar, seventy-five for the quarter-dollar,
ninety for the dime and half-dime.
The Mint is now manned by about sixty officers, clerks, and workmen. By the addi-
tion of ten or twelve men of the latter class it would be competent to a coinage of six
millions of dollars annually, half in gold and half in silver, with a due proportion of
small coins, and at an expense to the government of $70,000. But if the institution
were put to its utmost capacity, and with a still further increase of hands, it is
estimated that it would accomplish a coinage of twelve millions annually, the cost of
which would be $106,000.§
The above particulars, if not satisfactory to the reader, will at least aid him in
understanding the routine, whenever he may please to visit the Mint.
* All the manipulations, after the ingots are made, are within the department of the Chief Coiner. This office is
now executed by Franklin Peale, Esq.
f C. Gobrecht, Esq., is the present Engraver of the Mint.
| The art is called die-sinking, rather than engraving.
5 Report of Dr. Patterson, Director of the Mint, to Congress, through the Treasury Department, March 1838.
IMPRESSIONS ON COINS. 15
III. OF THE IMPRESSIONS ON COINS.
The piece of metal offers two disks and an edge, for whatever impressions are to
be put upon it, to constitute a current coin. What should the impressions be ?
In all monarchical countries the likeness of the sovereign is almost invariably
stamped on one side of the coin. This is sometimes the head only, sometimes the
head and bust, but never more, as the pieces, even the largest, are too small to admit
of it. Russia affords a remarkable exception ; the imperial head, since Alexander,
appears on none of the coins.
The face is always in profile. A front or three-quarter view, though it would offer
a more effective likeness, would present difficulties in the die-sinking, not to be
explained here ; it could not be brought up by a single blow in coining, which is a
conclusive objection : moreover the face, and especially the nose, would offer a pro-
tuberance, to be rapidly worn down, and render the picture false and ludicrous.
In republics, on the other hand, the likeness of the political chief is never given.
This may be considered a criterion, to judge whether a republic, so called, is essen-
tially and permanently so. Under the British Commonwealth, we find the portrait of
Cromwell upon the money, but the republicanism of his government may justly be
called in question. In Fiance, the head of the First Consul was placed on the coin,
with the legend Rqmblique Francaise ; but very soon after, that head appears encircled
with a laurel wreath, and over it the motto Empire Francais. So in the less con-
spicuous dominion of Hayti, in the West Indies, we observe the effigy of President
Boyer on the money, but it is well known that the name of republic is there a cover-
ing for a virtual despotism.
In Bolivia, the head of Bolivar appears on all the coins ; but that distinguished
warrior has been dead for many years, and the exaltation of his image does not put
the liberties of the nation in jeopardy. The other republics of Spanish America pre-
sent no heads of Presidents; though in the Argentine Republic, or Buenos Ayres, the
chief is glorified by a legend, importing " Eternal praise to the Restorer Rosas."
In the United States, while the newly-established Mint was trying its powers in an
experimental way, in the years 1791-92, the head of Washington, then President, was
stamped on the copper cent. But this, being offered to Congress, was promptly for-
bidden ; and it is said (no doubt with truth) that Washington himself disapproved it.
If ever a true republic could depart from the line of precedents, this Union might well
have done so, in multiplying the likeness of the Father of his country.*
* The " Washington Cent," of which a few specimens escaped the Mint, is now one of the greatest numismatic
curiosities, and is eagerly sought after, by collectors. There were two dies, materially different.
16 IMPRESSIONS ON COINS.
The republics of Europe are so few, as to afford little scope for exemplification.
Still, the practice there is uniform. The Swiss coins give no portrait of the Landam-
man ; Holland, while a federal republic, never displayed the head of the Stadtholder ;
nor did independent Venice her Doge.
As a substitute for a sovereign's head, republics have always adopted some em-
blematical device, expressive of Liberty. This is often the head or figure of a
female, with a pileus, or Roman liberty-cap somewhere in sight. But the devices are
various.
In Mohammedan countries (which are never republics) there is, indeed, no mo-
narch's effigy upon the coinage. The reason of this is, that the Koran, in its wide
interpretation of the second commandment, forbids the likeness to be made of any
body, for any purpose. But this injunction is compensated, by Shahs and Sultans, in
the pompous and vainglorious array of titles, which make up the inscription on their
coins. Thus in Persia, it reads " Mahomed Shah, the king of kings." In Turkey,
as late as the reign of Selim III., the inscription was " Sultan of the two lands, and
sovereign of the two seas, Sultan by inheritance, son of a Sultan." His successors
Mahmoud II., and Abdul Medjid (now reigning), have used, with better taste, a sim-
pler title ; but their sweeping toghra or cypher, is as expressive of royalty as any
portraiture.
As a final remark upon this point we observe, that copper coins are not usually
graced with the monarch's head ; nor indeed, with any such elaborate devices as
appear on gold and silver.
Thus much for the face or obverse of coins : we proceed to notice the reverse* On
this side is usually displayed the shield or coat of arms ; which is, as it were, the
national seal, attesting the weight and purity of the piece. But this is not an uni-
versal rule. In France, and some other countries, the reverse exhibits a wreath,
enclosing the denomination or value of the coin. This is very common in small
coins every where ; our own are examples. It has been thought by some, that the
reverse should be diversified by devices illustrative of national events, as is the case
with medals, thus constituting a train of medallic monuments for history. The Papal
coinage shows a considerable variety of subjects in this way. And in Bavaria, from
1 827 to 1 830, there were as many as seven different reverses on the dollars.
Besides the pictures, a coin is always stamped with words, in full or abbreviated,
and almost always with dates. The words are disposed, technically, either as legends
or inscriptions. A legend runs around the head or shield, near the border ; sometimes
it is at the bottom, under a line, which space is called the exergue. An inscription
(which is much less frequent) occupies the field, or the part usually taken up by the
head or shield. Sometimes the motto is found on the edge of the coin.
* In common terms, the two slides of a coin are head and tail ; in French, the terms are croix et pile.
PREROGATIVE OF COINAGE. 17
In respect to these legends or inscriptions, the following points are to be observed.
1. Being meant for the information of all sorts of persons, learned or unlearned,
they should be in the language of the country. Yet this common-sense proposition
has found favour only within the last half century, Latin terms being almost uni-
versally used. Russia appears to have been the first, of Christian nations, to employ
a vernacular legend. The United States of America used this style from the first,
though not exclusively ; the Latin motto " E pluribus Unum," (which was not
acknowledged in the law) floated in a scroll over the eagle's head, until the change
of standard in 1834, when it was discontinued. In 1791, republican France began to
inscribe her own language upon her coins. The example has since been followed by
most nations of Europe ; but England and Austria adhere to the old system.
2. The coin should declare its country. This is always done, with gold and silver ;
not always with billon and copper. Sometimes it is so abbreviated or Latinized, that
the common reader can learn nothing from it.
3. The coin should declare its denomination, or value. French coins are very ex-
plicit ; " 5 Francs" and " 20 Francs" occupy the field. In most countries this con-
venience is added to the coinage : but not so in England, except in the small silver
coins. Sometimes the weight, or fineness, or both, are given ; as in Russia, Poland,
parts of Germany, and the republics of Spanish America.
4. The date of the coinage should be given. This was not the practice, some
centuries ago ; but now it is hard to find an exception.*
5. When there are several mints in one country, some distinctive letter or mark is
usually given, to indicate at which one the piece was coined. In the United States,
the three branch mints at Charlotte, Dahlonega, and New Orleans, use the initials
C. D. and O., respectively. The principal Mint, at Philadelphia, employs no mark,
and its coins are ascertained by that fact.
In South America, some of the mints use monograms, or involutions of letters ; as
M for Lima, 'W for Potosi.
IV. OF THE POWER OF COINING— TO WHOM IT IS ENTRUSTED.
The right of coinage ought always to be vested in the sovereign, and be regulated
by known laws. In a confederated republic, it should lodge in the general govern-
ment, and not with the states. It is so in the United States, and most of the American
republics : it is not so in Switzerland, nor, formerly, in the United Provinces of Hol-
* On the coins of Mohammedan countries, the date is of course, the year of the Hegira. But in Turkey, the manner
of dating is peculiar. For example : Mahmoud II. ascended the throne A. H. 1223 (A. D. 1808), and all the coins of
his long reign bear that date. But on another part of the coin, the year of his reign, as 1, 10, 22, &c. is given ; this,
added to the former, gives the true millesime of the piece.
5
18 PREROGATIVE OF COINAGE.
land. In Mexico, the laws regulating the coinage are enacted by the Federal Con-
gress, but the mints are conducted by the States in which they are located, without
supervision or control ; hence there is an irregularity in the value of their dollars.
The mischiefs of private coinage need not be dwelt upon here. No one will strike
money without receiving an adequate profit ; but coins are of such a nature, that they
cannot yield any gain, without fraud. Coin is intrinsically worth nothing, or next to
nothing, beyond its weight of gold or silver, in mass. Again, it is impossible to guard
against moderate frauds in the alloying of coins, such as making them eight-tenths,
instead of nine-tenths fine. The public faith alone is a sufficient guarantee of the
integrity of a coin*
During the suspension of specie payments in England, when the private coinage of
silver was extensively carried on, the shilling token was far below the value of a
shilling, and very irregular between one maker and another. In our own country, the
gold coinage executed by Mr. C. Bechtler, in North Carolina, which circulates freely
at the South and West, is not far below its declared value, if a single piece were in
question ; but in considerable quantities, the depreciation is seriously felt.t
It has thus been attempted to lay down some of the principles by which coinage is
regulated. Other matters might have been introduced, but not without infringing on
our design, and the good will of the reader.
* The difficulty of deciding upon good counterfeits is illustrated by a curious case at Nashville, Tennessee, in
1829, which is noticed in the chapter on Counterfeits,
f The loss is 2i to 3 per cent. See particulars in the chapter on Bullion.
CHAPTER II.
THE SYSTEMS OF COINAGE OF THE VARIOUS NATIONS.
In this chapter, which fulfils the principal object of the work, and constitutes its
greater portion, the monetary systems of the different countries in the world will be
exhibited, with such incidental details as are naturally suggested by the subject.
The method generally, though not rigidly, pursued, is the following. Each nation
is treated of distinctly. The order of governmental succession, and some historical
facts bearing upon the coinage or metallic currency, are briefly set forth. The legal
standards are then stated, in the metrical terms of the country, and of our own. The
annual product of precious metals, if any, and the amount of coinage, next receive
some notice. The article is concluded with tables of the gold and silver coins, eluci-
dating the previous statements, and, in general, serving the inquiries of dealers and
amateurs in coin, legislators, and persons of varied reading, desiring to extend their
information in this direction. These tables have been prepared with great care, and
chiefly from trials made here. They comprise the following specifications: 1, the
denomination, or name of the coin — 2, the dates — 3, the reign, or government — 4, the
weight, in troy grains — 5, the fineness in thousandth parts* and 6, the value in our
money .t The system has been, not to cull the finest specimens, but to take the ordi-
nary circulation, not too much defaced by wear ; and to operate upon large quanti-
ties, in all practicable cases, so as to obtain the true average.
ARGENTINE REPUBLIC.
(Formerly La Plata.)
Republics Argentina Confederada.
This country formerly included Bolivia, and the whole was a vice-royalty of Spain.
Containing the famous silver mining region of Potosi, it was well designated La
* At the end of the book is a table for converting thousandths, or milliemes, into carats, loths, dineros, &c.
f For the convenience of foreign readers, a table is placed in the Appendix for converting the American valuation
into the British and French.
20
ARGENTINE REPUBLIC.
Plata ; but now that the mines are chiefly enclosed in the bounds of another state,
the propriety of the new title of Argentine Republic, seems not so evident.
The Spanish domination was thrown off in 1810, but independence was not
formally declared until 1816. In 1825, the whole northern part of the country,
including most of the silver mines, was set off into the distinct republic of Bolivia.
The name by which the country is now known, is of recent adoption. Frequently
the whole territory is spoken of, by the name of its chief city, Buenos Ayres.
The coinage is professedly upon the Spanish basis (see Spain) ; but in its results, is
exceedingly irregular and uncertain. In fact, neither the doubloons nor dollars are
worthy to be received by count, as the ensuing table will show. (See Plate V., with
the description.)
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Doubloon
1828-32
Provinces of R. de la Plata.
418
815
14 66
do.
1813-32
do.
415
868
15 51
Dollar .
1828
do.
380
862
88 2
do. .
1828
do.
411
822
91
do. .
1828
do.
418
800
90
Half do.
1815
do.
205
888
49
Quarter do.
1813-16
do.
98
886
23 4
Dollar .
1838-39
Argentine Republic.
388
928
97
do. .
1838-39
do.
427
894
1 02 8
do. .
1838-39
do.*
412
915
1 01 5
AUSTRIA.
Oesterreich.
The coins of the Austrian Empire at this day are of three classes ; a fourth,
though still current, ceased to be issued in 1800. Their origin and character will be
explained by what follows.
* This is the average of the Argentine dollars. The two preceding are extremes. But in fact, any single dollar
may combine the extremes of good or of had, in weight and fineness; in a word, one dollar may be worth 93 J cents,
and another 107 cents ; nor can any eye or hand detect a difference.
A U S T R I A.
21
When the French Revolution began to convulse all Europe the monarch (Francis
II.) who ruled what is now the Empire of Austria, was the titular Emperor of Ger-
many ; and his dominions comprised the Archduchy of Austria and its dependent
provinces, the Kingdom of Hungary, the Duchy of Milan or Lombardy, and the Low
Countries, now known as Belgium.
For each of these four regions there was a distinct coinage. The Austrian was to
be known by its double-headed eagle ; the Hungarian, by the images of the Virgin and
Child; the Lombard by its shield, quartered with eagles and serpents; and the Braban-
tine or Belgian, by the X-shaped cross, profusely ornamented. About the close of the last
century, the Low Countries were detached from German rule, and the coinage of the
gold sovereign and silver crown, as already intimated, was arrested. Near the same
time, Lombardy also passed into other hands, and a second class of imperial coin was
for a time suspended.
The course of events, in that memorable period, brought on another change in
Austrian moneys, affecting, however, only the inscriptions upon them. In 1806, the
ancient German Empire was dissolved ; Francis II. of Germany, became Francis I. of
Austria, and the stately legend of " Roman Emperor, ever august," gave place to the
simpler one of " Emperor of Austria."*
At the pacification of Europe in 1815, Lombardy, with Venice annexed, reverted
to Austria ; and soon after, a monetary system was decreed for that country. There
are now, therefore, the three series of Austrian, Hungarian, and Lombard coins ; but
in such harmony with each other, as to be in some respects interchangeable.
1. The coins proper to Austria are, in gold, the single, double, and quadruple ducat
— einfache, doppelte, and vierfache ducaten. The ducat and its multiples are coined at
the rate settled in 1559, and generally in use in other countries; that is, 67 ducats to
be made from a Cologne mark of gold,t 23§ carats fine. Reducing these terms to our
own, the ducat should weigh 53-87 troy grains, and the fineness should be 986 thou-
sandths. Since 1786, its legal value is 4J Austrian florins; but it is at a premium,
against silver.:): It is designated in mercantile papers by the mark =#=, after the
manner of our %, for dollar.
The silver coins are of six denominations: 1, the reichsthaler, or rixdollar ; 2, the
gulden, or florin, which is half of the former, but is itself the principal money of
account, being divided into 60 kreutzers ; 3, the zioanziger, or piece of 20 kreutzers,
which is one-third of the florin ; 4, the zehner, or 10 kreutzers ; 5, the piece of 5
kreutzers ; and 6, the piece of 3 kreutzers. The standards of these were fixed by the
* The initials R. 1. S. A. signified Romanus Imperator, semper augustus, the Emperor of Germany being the
honorary Emperor of Rome. The coins of the Electorates used to bear the letters S. R. I., for '' The Holy Roman
Empire." The suffix of "semper augustus" is noticed by Dr. Arbuthnot, as a motto on some coins of Constantine.
Treatise, p. 8.
f The Cologne mark, a celebrated money-weight, is equal to '233-855 grammes, or 3609-5 troy grains. (See Germany.)
\ Recently the market price of the ducat was 4 florins 43 kreutzers.
6
22
AUSTRIA.
well known money-convention between Austria and Bavaria, in 1753 ; from which
circumstance they are commonly styled convention coins. The terms of this compact
were, soon after that date, adopted by most of the German powers, and tended very
much to give uniformity to the moneys of Germany. They have recently been super-
seded in every state except Austria. (See Germany.)
The following are the legal standards of Austrian silver coin :
PIECES, TO A COL.
PIECES, TO A COL.
PIECES TO AVIEN.
FINENESS,
TROY WT.
FINENESS,
MARK PIKE.
MARK ALLOYED.
MARK ALLOYED.
IN LOTUS.
GRS.
IN THOUS.
Rix dollar
10
8*
10
133
433i-
833
Florin .
20
16-1
20
13*
216J
833
20 Kr. (Zwanziger)
60
35
42
91
103^
583
10 Kr. (Zehner) .
120
60
72
8
601
500
5 Kreutzer
270
105
126
7
34f
437
3 Kreutzer
400
1371
165
5\-
26
344
2. The coins of Hungary are the same in all respects, except the devices stamped
on them, as those of Austria. The Hungary or Kremnitz ducat was formerly of a
rather higher standard of fineness than the Vienna ducat, but is not so now. No
larger pieces than single ducats are coined.
3. The coins of the Lombard- Venetian kingdom are, in gold, the sovrano, souverain,
or sovereign, and its half. These began to be issued in 1819, although the edict
declaring the standards appears of the date of 1823* These should be nine-tenths
fine, and the whole piece should weigh eleven denars 3£ grains, or 174J grains troy.
The Lombard silver coins are of five denominations: 1. The scudo. 2. The half
scudo. 3. The lira, or livre. 4, 5, The half and quarter lira. These are all, by
legal standard, nine-tenths fine, except the last, which is six-tenths. The weight of
the scudo should be 25 denars, 9-5 grains, or 401 troy grains, the others in propor-
tion ; except the quarter-lira, which should weigh 25 grains troy. The scudo is of
finer metal than the rixdollar, but reduced in weight, to make it of the same value,
by count. The two cannot easily be distinguished by the eye. (See Description of
Plate IX.)t
* See a valuable statistical work, entitled Das Oesterreichische Miinzwesen, vom 1524 bis 1838, (Information upon
Austrian Moneys, from 1524 to 1838,) by Dr. S. Becher, 2 vols. ; Vienna, 1838.
Another useful numismatic work, with numerous engravings, has recently been published in numbers, at Pesth, in
Hungary, 1832-36. It is by M. Urosius Andreits, and is entitled Mti-nz- Journal' des nev.meh.nlen juhrhunderts, (Maga-
zine of Moneys of the Nineteenth Century.)
f The coins of Austria and Hungary are commonly designated by the prefix of k. k. for kaiserliche kanigliche (impe-
rial royal), as, for example, k. k. ducaten.
\ I STRIA.
23
The Austro-Belgic coinage (noticed under the head of Belgium), consisted, in gold,
of the souveruin, at 22 carats, or 917 thousandths fine, and of the legal weight of 172
grains troy ; and in silver, of the crown and its subdivisions, at 872 thousandths fine,
and 1\\ crowns to the Cologne mark, or 19 dwts. troy to each piece. These crowns,
being now much worn, are rapidly recoined in Germany into new denominations.
They are frequently brought to this Mint also.
The amount of coinage in gold and silver, in the Austrian empire, is about twelve
millions of florins (nearly six millions of our dollars), annually. Formerly the silver
coinage greatly exceeded the gold ; but for a few years past, the proportion is entirely
reversed, and the gold issues are twice as great as the silver. The whole amount,
from 1792 to 1339, forty-eight years, is 640£ millions of florins.
Austria produces a considerable share of the precious metals. In sixty-seven years,
from 1773 to 1839, the amount brought from the mines for coinage, was about 250
millions of florins, making an annual average of near four millions. The production
is now somewhat greater, and is about half in gold, and half in silver.
The following is the line of imperial succession, of late years. Francis I., who
reigned in right of his consort, Maria Theresa, died in 1765. His son, Joseph II.,
reigned from that year to 1 790 ; but during both these reigns, the name of Maria
Theresa usually appeared on the coins, until her death, in 1780. Leopold, previously
the Grand Duke of Tuscany, and brother of Joseph, reigned from 1790 to 1792. His
son, Francis II., retained the throne until 1835, and was then succeeded by Ferdinand
]., the reigning emperor.
GOLD COINS.*
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ducat .
1762
Maria Theresa.
53-5
985
2 26 9
Sovereign
1778
do.
170
917
6 71 3
Ducat .
1790
Leopold II.
53-5
986
2 27 2
Do. .
1809-34
Francis I.
53-7
983
2 27 4
Quadruple
1830
do.
215-5
983
9 12 2
Sovereign
1831
do.
174-5
898
6 74 8
Do.
1838
Ferdinand I.
174-5
901
6 77 1
Half do.
1839
do.
87
902
3 38
Ducat .
1838
do.
53-7
985
2 27 8
Quadruple
1840
do.
215-5
985
9 14
Hungary ducat
1839
do.
53-7
986
2 28 1
* For specimens of recent coinage, with accompanying statements, we are indebted to J. G. Schwarz, Esq., Consul
of the United States at Vienna, and a valued correspondent of this Mint.
24
AUSTRIA.
SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GHS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Rix dollar
1753-80
Maria Theresa
430
835
96 7
do.
1780-89
Joseph II.
431
835
97
Florin .
1788
do.
215
835
48 4
Rix dollar
1790-92
Leopold II.
432
835
97 2
do.
1793-1800
Francis II.
432
835
97 2
Brabant crow
n
1793-99
do.
454
875
1 07
Rix dollar
1834
Francis I.
432
833
97
Florin .
1834
do.
216
838
48 8
20 Kreutzer
1834
do.
103
580
16 1
10 Kreutzer
1834
do.
60-5
500
8 1
Rix dollar
1840
Ferdinand I.
432-5
834
97 2
Kremn. do.
1839
do.
432-5
834
97 2
Florin .
1840
do.
216-5
834
48 7
Kremn. do.
1839
do.
216-5
834
48 7
20 Kreutzer
1840
do.
103
582
16 2
Kremn. do.
1839
do.
103
582
16 2
10 Kreutzer
1840
do.
60
498
8 1
Scudo .
1839
do.
401-5
902
97 6
Half do.
1839
do.
201
902
48 8
Lira
1839
do.
67
900
16 2
Half do.
1839
do.
33-5
900
8 1
Quarter do. .
1839
do.
25
606
4 1
BADE N.
25
BADEN.
Previous to 1301, this was but an inconsiderable state. In that year, by the treaty
of Luneville, it was doubled in territory and population, and two years later received
further additions. In 1803, the Margrave Charles Louis was advanced to the rank
of an Elector; and in 1806 assumed the title of Grand Duke. At the settlement of
Germany in 1814-15 by the Congress of Vienna, the continuance of Baden as an
independent state was very uncertain ; but the influence of the Emperor of Russia,
who was a son-in-law of the Grand Duke, decided the question. Baden has since
ranked in the second class of German states.
There seems to have been no gold coinage worthy of notice, previous to the acces-
sion of Louis, in 1819. Since that date, there are pieces of ten and five florins, of
nine-tenths fine.
The silver coins are of various classes. The convention standards (see Austria)
were adopted as early as 1765; by which ten rix dollars, or twenty florins, were
coined from a Cologne mark of fine silver. Subsequently the florin was reduced to
the rate of 24 pieces to the fine mark ; and by the conventions of 1837-38, it has
been further reduced to 24i ; which is likely to be a permanent basis. (See Ger-
many.) Since 1813, there has been a regular coinage of crown dollars {kronen
thaler) at the Austrian rates. These pieces, being worth about 2| florins of the
24 rate, seem illy fitted to the money system, and were, no doubt, intended for an
international currency. They are now superseded.
The legal fineness of the principal silver coins is as follows : the convention dollar,
833 thousandths ; the florin of 24, 750 ; the crown, 875 ; and the new florin of 24J,
900 thousandths. (See Plate XIII.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIOIIT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ten Gulden .
Five Gulden .
1819
1819-28
Louis, Grand Duke,
do.
105-5
52-7
900
900
4 08 6
2 04 3
26
BAVARIA.
SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GBS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Specie dollar .
1765-78
Charles Frederic, Margrave.
428
833
96 1
Crown .
1813-16
Interregnum.*
455
875
1 07 3
do. .
1819-29
Louis, Grand Duke.
455
877
1 07 5
Two Gulden .
1822-25
do.
392
755
79 8
Ten-kreutzer
1830
do.f
42
500
5 5
Crown .
1831-34
Leopold.
456
877
1 07 7
Gulden
1837-39
do.
164
900
39 7
Half do.
1839
do.
82
900
19 8
BAVARIA.
Bayern.
This kingdom formerly consisted of numerous petty sovereignties, each of which
coined its own money. Such were the Duchies of Upper and Lower Bavaria ; the
Palatinate of the Rhine ;% the Margraviate of Brandenburg-Bareuth ; and various
bishoprics and imperial cities. The two Duchies of Bavaria, however, were long ago
united; and in 1623 were constituted an electorate. In 1777, by the death of the
Elector Maximilian Joseph without issue, the realm passed over to Charles Theodore,
of the elder Bavarian branch, then Elector of the Palatinate. This may be consi-
dered the date of the extinction of the latter sovereignty, or rather its incorporation
into Bavaria.§ In 1799, Charles Theodore also died without issue, and was succeeded
* These crowns bear neither a sovereign's head nor name, but simply the title Grosherzogthum Baden — Grand
Duchy of Baden. They indicate the unsettled state of the country at that epoch.
t Dr. Becher mentions a thaler of 100 kreutzers, of the year 1829, of 875 thousandths fine, and worth 1J florins.
This coin we have not seen.
X Sometimes called Manheim, which was the capital of the Palatinate.
5 The amateur, who has been embarrassed by pieces bearing the abbreviations " Car. Tlieod. C. P. R." &c, will
understand that they belong to the Palatinate of the Rhine, and are properly classified with Bavarian coins. He
must also distinguish between the coins of Electoral Brandenburg, now a part of Prussia, and those of Brandenburg
Anspach and Bareuth.
BAVARIA.
27
by Maximilian Joseph II. of Deux-Ponts, of remote kindred. This prince was, in
1806, raised to the regal dignity by Napoleon; since which time, Bavaria has main-
tained the rank of a kingdom.
The other principalities already named, enjoyed the prerogative of coinage, until
towards the close of the last century. The emissions were no doubt very limited, and
consisted chiefly of ducats and convention-dollars, of the established rates.
The only gold coin is the ducal, of the German standards. (See Germany.) The
silver coins are, the convention-thaler, at the rate of " ten to the fine mark," and the
kronen-thaler, or crown, lately discontinued ; besides the scheidemiinze, or small coin.
This state was a party to the German conventions of 1837-38, by which a. gulden and
half-gulden were to be coined by the southern powers, at nine-tenths fine. This
coinage was immediately carried into effect, and will doubtless soon supersede the
previous issues. The amount coined, from October 1837, to June 1839, was four
million pieces of one florin or gulden, and two millions of the half-florin ; in all, near
two millions of dollars in our money* (See Plate XIII.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VAiUE.
D. C. M.
Ducat .
1764
Maximilian Joseph.
53
980
2 23 7
do. (Palatin.)
1764
Charles Theodore.
53
980
2 23 7
do. .
1797
do.
53
980
2 23 7
do. .
1800
Maximilian Joseph II.
53
984
2 24 6
do. .
1832
Louis.
53-5
987
2 27 4
SILVER COINS.
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GES.
FINENESS.
THOCS.
VALUE.
D. C. M.
Specie-dollar
1755-60
Maximilian Joseph.
430
833
96 5
do.
1762-72
do.
430
831
96 3
Kopfstiick
1773
do.
102
580
15 9
Crown, (Palatin.) .
1758
Charles Theodore.
397
995
1 06 4
Florin, do.
1758
do.
198
995
53 1
* Letter of R. De Ruedokffer, Esq., U. S. Consul at Munich.
28
BELGIUM.
SILVER COINS (continued).
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GR3.
FINENESS.
THOUS.
VA1UE.
D. C. M.
Specie-dollar, (Pala
tin.)
1765
Charles Theodore.
430
833
96 5
do.
1778-80
do.
430
833
96 5
do.
1800
Maximilian Joseph II.
430
833
96 5
do.
1806-22
do. (king)
430
835
96 7
Crown .
1809-25
do.
455
875
1 07 2
do. .
1826-32
Louis.
455
875
1 07 2
6 Kreutzers
1833
do.
41
320
3 5
3 do.
1833
do.
21
317
1 8
Kreutzer
1833-39
do.
12
177
0 6
Florin .
1839
do*
1635
900
39 6
Half do.
1838
do.
82
900
19 8
BELGIUM.
La Belgique.
This country was formerly known as Flanders, or the Low Countries. Though so
long the game for which the empires of Europe contended, and so often merged in
one or other of them, it has constantly preserved its nationality, and is now a distinct
monarchy.
By the treaty of 1748, it was apportioned to Austria. In 1795, it was annexed to
the French Republic. In 1815, it was incorporated with Holland into the kingdom
of Netherlands. By the Revolution of 1830, it became an independent nation, with
Leopold I. as its king.
Two systems of coinage only will require any details ; that of Austrian Belgium,
from 1750 to 1800, and that of the new kingdom, since 1830.
The gold souverain, or sovereign, ordained in 1749, was to weigh 7 esterlins 8 as,
(about 172 troy grs.) and to be 22 carats, or 917 thousandths fine. The silver crown,
■ The new florins vary in fineness from 699 to 900'5.
B E L G I U M.
29
(commonly known as the Brabant crown), which began to be coined in 1755, was to
weigh at the rate of 7\h pieces to the Cologne mark, or 456 troy grs. per piece, the
half and quarter crown in proportion ; and all of the fineness of 10 deniers 1 \hgrs., or
872 thousandths.
A coinage of gold and silver pieces called lions, was projected in 1790, by a congress
of Belgian Provinces, but was not fairly carried into effect. There are some pieces
of that year.
By the law of 1832, gold and silver coins are issued of the same denominations and
standards as those of France. The amount of coinage is trivial ; the circulation of
Belgium consisting chiefly of French and Dutch coin* (See Plate X.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
■mors.
VALUE.
D. C. K.
Sovereign
1778
Maria Theresa.
170
917
6 71 3
do. .
1793
Francis II.
170
917
6 71 3
Forty francs .
1835
Leopold I.
199
895
7 67
Twenty do. .
1835
do.
99-5
895
3 83 5
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Crown .
1781-90
Joseph II.
453
875
1 06 7
do. .
1790-92
Leopold II.
453
875
1 06 7
do. .
1793-1800
Francis II.
454
875
1 07
Half do.
1795-1800
do.
226
875
53 3
Five francs
1833-35
Leopold I.
385-5
895
93 1
Two do.
1835
do.
154
895
37
Franc .
1835
do.
77
897
18 6
Half do
1835
do.
38
897
9 3
Quarter do.
1835
do.
19
897
4 6
* Letter of T. H. Barker, Esq., late U. S. Consul at Antwerp, through whose attention some specimens were
received for assay.
8
30
BOLIVIA.
BOLIVIA.
This country, which originally formed a part of Peru, and which was afterwards
included in the vice-royalty of Buenos Ayres, became a distinct nation in 1 825 ;
taking its name from the celebrated Bolivar. The name and effigy of that personage
always appear on the coins.
The monetary system is that of Spain. The mint, which is at Potosi, has long
performed an important part in the coinage, both royal and patriot, of Spanish
America. Its mark is the figure 1? ; which is an interlacing of the letters, P, T, S, I.
Since the year 1830 inclusive, it has been the policy of this government to debase
its silver coin, of denominations less than the dollar. The reduced standard of fine-
ness is eight dineros, or two-thirds ; about twenty-six per cent, worse than the dollar
standard. The annual issue of this depreciated coin is nominally restricted to 200,000
dollars ; but, as might be expected, this limit is usually exceeded. In 1837, the base
coinage amounted to 302,000 dollars; in 1835, it was 509,000 dollars. The pieces
are of good colour, and appear as well as the whole dollar.
Bolivia produces a large share of the precious metals. Under the Spanish govern-
ment, the annual coinage was, in gold, about half a million of dollars, and in silver,
over three millions. Of late years, the amount has fallen to 150,000 dollars in gold,
and about two millions in silver* (See Plate IV.)
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
THOUS.
VAiUE.
D. C. M.
Doubloon
1827-36
Bolivian Republic.
416-5
870
15 58
Dollar .
1827-37
do.
416-5
902
1 01 2
Half do.
1827-28
do.
208
903
50 5
Quarter do. .
1827-28
do.
104
900
25 2
Half do.
1830
do.t
208
670
37 5
Quarter do. .
1830
do.
103-5
675
18 8
Dollar .
1840
do.|
417
900
1 01 1
* British Statistical Tables. See Appendix.
t The weight of these depreciated coins varies from 205 to 210 grains, (which is regular for that region,) and the
fineness, from 668 to 674 thousandths.
t Vary in weight from 409 to 425 grains ; in value, 99 to 103 cents.
BRAZIL. 31
BRAZIL.
Within the period which will come under notice, Brazil appears first as a colony of
Portugal ; next as the residence of the sovereign, by which Portugal, from being the
parent, seemed to become the dependent ; and finally, as a distinct nation, taking
rank as an empire.
The following has been the monarchical succession. — John V. reigned from 1706 to
1750; Joseph to 1777 ; Maria I. to 1816; but during the earlier part of her reign,
the name of her consort, Peter III., appeared with hers on the coin, until his death
in 1736. In 1799, the queen having become mentally imbecile, her son, John Maria,
began to administer the government as Regent. In 1804, her name was displaced
from the coin, and that of the Regent substituted. Three years after, upon the
invasion of Portugal by the French, his court was removed from Lisbon to Rio
Janeiro. In 1816, he became king, with the title of John VI. The revolution of
1822 separated Brazil from the mother country, and Peter I. was placed upon the
throne, as Emperor. Another revolution, in 1831, dethroned this monarch, and
installed the infant Peter II. ; then only six years of age.
Although both countries reckon by reis, there has long been a difference in the
valuation. As early as 1747, it was decreed that a mark of such silver as was coined
into 7500 reis for Portugal, should make one-tenth more, that is, 8250 reis, in Brazil.
Previous to 1822, the moidore (moneda d'ouro), of 4000 reis, and its half, were the
gold coins of Brazil. In 1822, a new coinage was ordained, of pieces of 6400 reis
(familiarly called half-joes), weighing four oitavas, at 22 carats fine. This is equiva-
lent to 221-4 troy grains, at 917 thousandths. The same coinage was confirmed by
the law of October 1833, and the value of the piece fixed at 10,000 reis, currency ;
but 6400 still appears on the coin.
The silver coins previous to 1833 were, the patacoon, or piece of three patacs
(960 reis), and of two, one, one-half, and one-quarter patac. They were professedly
1 1 dinheiros fine, or 917 thousandths. In actual fineness, as well as weight, they betray
much irregularity, as will appear by the ensuing tables.
In 1833, a silver coinage was instituted, with new devices. The denominations
were these five : 1200, 800, 400, 200, and 100 reis. The first piece is the equivalent
of the former 960 reis, and all are intended to be of Spanish standard fineness; though
in fact they are somewhat below.
The currency of Brazil is chiefly in paper ; except that for household purposes
32
BRAZIL.
copper is largely used. The silver coins are in market, at fluctuating prices ; in
October 1839, the piece of 1200 reis was worth 1680 in paper.
Small ingots of gold, assayed and stamped at the government offices, are used in
the circulation of the country, and are not allowed to be exported*
In a statement of a sum of money, the milreis and reis are divided by the figure $,
as for example, 6 $400, which is 6400 reis.
The coinage is of small amount. In six years, from 1833 to 1838, the gold
amounted to 377,700 milreis, the silver only to 33,000. The annual average there-
fore, in both kinds, is about 60,000 dollars, in our money. From all gold sent to the
Mint, 6 J per cent is deducted ; from silver, 13y per cent.
Brazil is a famous gold-producing region. The mines being chiefly in British
hands, the metal passes out of the country uncoined. From statistics to the middle of
1839, we gather that the annual produce of the principal mines, in latter times, is
about 700,000 dollars ; besides which, a considerable quantity is obtained from private
mines and from the rivers, which comes to Rio for sale, but does not pass through the
Intendant's office for the payment of duty. It is doubtless sufficient to increase the
sum total of Brazilian production to 900,000 dollars annually.t
All the mines, except Gongo Soco, pay to government a duty of five per cent, on
gold raised, and an additional two per cent, as export duty. The primary duty paid
by Gongo Soco is ten per cent.:): (See Plate V.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Moidore
1779
Maria I. and Peter III.
125-5
914
4 94
do. .
1807-13
John, Regent.
125
914
4 92
do. .
1819
John VI.
124-5
914
4 90
Half-joe
1822-31
Peter I. Emperor.
221-5
914
8 71 7
do. .
1833-38
Peter II. do.
221-5
915
8 72 7
* Kelly's Cambist, art. Rio de Janeiro.
j Jacobs, quoting various authorities, estimates the annual product from 1810 to 1829, at a sum equal to $986,000.
(Inquiry, &c. 342.) Our statistics from Brazil, will be found in the Appendix.
X Letter of G. W. Slacom, Esq., U. S. Consul at Rio.
BRITAIN.
33
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. O. M.
640 reis
1750-77
Joseph I.
274*
915
67 5
do. .
1777-86
Maria I. and Peter III.
267
903
64 9
320 reis
1777-86
do. do.
132
903
32 1
640 reis
1786-87
Maria I.
274
903
66 6
do. .
1800-04
do.
294
903
71 4
320 reis
1800-04
do.
130
903
31 6
640 reis
1804-16
John, Regent.
284f
903
69
320 reis
1804-16
do.
132
910
32 3
960 reisj
1810-16
do.
413
900
1 00 1
do. .
1816-21
John VI.
416
900
1 00 8
640 reis
1816-21
do.
275
910
67 4
960 reis
1822-26
Peter I., Emperor.
416
900
1 00 8
640 reis
1822-26
do.
276
905
67 2
1200 reis
1837
Peter II.
414
891
99 4
800 reis
1838
do.
276
891
66 2
400 reis
1837
do.
138
886
33
200 reis
1837
do.
69
886
16 5
100 reis
1837
do.
34-5
886
8 2
BRITAIN.
Our notice of the coinage of Great Britain will commence with the accession of
George I. The various reigns since that date, have occurred in the following order :
* These vary from 267 to 283 grains ; the newest are the lightest.
| These vary from 270 to 294 grains.
J This is simply the Spanish dollar, in a new dress; being softened by annealing, and then restamped. The pillars
may be seen peeping from beneath, upon close observation. In the same way, Bank Tokens were made in England, in
1804, from the same coins. (See Britain.)
9
34 BRITAIN.
George I. 1714 to 1727; George II. to 1760; George III. to 1820; George IV. to
1830; William IV. to 1837; Victoria, from 1837, reigning sovereign.
The basis of British money is the pound sterling, of 20 shillings. This was at first
represented by the guinea, a gold coin, ordained in 1675, during the reign of Charles
II * After some years, from the depreciation of the silver coinage by wear and fraud-
ulent arts, as well as from other causes, gold was thrown into the market, at fluc-
tuating and enhanced prices ; so that the guinea, as compared with silver, varied
from 20 to 28 shillings. This evil was not arrested until the third year of George I.
(1717), when, upon the recommendation of Sir Isaac Newton, then Master of the
Mint, the guinea was rated at 21 shillings, and has so continued ever since.
The pound sterling had therefore no representative in any single coin, until the
great era in British moneys, the coinage law of 1816. The guinea and its parts were
then discontinued, and the sovereign, of 20 shillings, with subdivisions, substituted.
The relative proportion of weight and value being preserved, the guinea continued to
circulate, at 21 shillings, though it ceased to be coined.
In the same year, an alteration was effected in the silver coinage. The denomi-
nations, from the crown downwards, were maintained as before ; but the old series
was called in, and recoined at a reduced weight. The profit to government by this
operation was not so much the object in view, as to give to the silver coinage a less
intrinsic value than the gold, and thus to make the latter the only measure of value ;
the former to be used merely for making change, in the domestic circulation.t Silver
coins are a legal tender only to the extent of 40 shillings at a time.
Before proceeding to state in detail the legal regulations of the coin, a few general
observations upon the metallic currency of this empire, may be. in place.
A very prominent and peculiar feature, is the vast preponderance of the gold over
the silver coinage ; and this, for a century before it became the settled policy of the
nation. The causes which operated to produce this result, could not be explained in
a work like the present. AVe only notice the fact, that from the accession of Queen
Anne (1702) to the end of 1840, the gold coinage amounted to 160 millions sterling,
while that of silver was but 12J millions.^ For the last twenty years, ending with
1840, the coinage of gold was 52 millions nearly, and of silver 4 millions. In every
other country, the preference seems to be given to silver, as the specie basis, whether
gold is a concurrent legal tender or not.
In general, it is noticed that a country does not recoin its own money, except upon
a change of standard. A memorable exception took place in England, in 1774. The
* Ruding's Annals of the British Coinage.
f This policy was brought before the public, eleven years before (1805), by Lord Liverpool, in his Treatise on the
Coins of the Realm.
\ Statistics of the coinage will be found in the Appendix.
BRIT AI N.
35
unskilful style in which, confessedly, the gold coins had for a long time been executed,
exposed them to the nefarious arts by which coins are diminished in weight. From
these causes, as well as from ordinary wear, the circulation had become so depreciated,
that it was judged necessary to call in all the gold coins below a certain weight, and
recoin them, at the full standard. To this effect, an Act of Parliament was passed in
that year, providing also for making good the deficiency to holders of light coin, from
the public treasury. This famous recoinage commenced in that year, and appears
to have been in progress until 1788*
Another memorable event, in the monetary history of England, was the total sus-
pension of silver coinage, at the Mint, from 1788 to 1816 — a period of twenty-nine
years ; and that at a time when such coin was never more needed. The reason was
simply that silver was not valued high enough by law, in proportion to gold, and there-
fore went to the market instead of the Mint. This, in its turn, was brought about by
various causes, not the least of which was the policy of the French Republic, which
exchanged assignats for silver, wherever it was to be had. In the single year of 1792,
there was drawn away from England near three millions of ounces.f
There was an obvious remedy for this evil, but the times did not admit of its appli-
cation. So far from it, the scarcity of silver was only a precursor to a similar
scarcity of gold. In the protracted wars of Europe, of which England had her full
share, there was a continual necessity for remittances abroad, by the government.
These were almost wholly in bullion, and were procured from the Bank of England.
In 1797, the drain of specie had been carried to such an extent, that only a million
and a quarter sterling remained in the vaults of that Institution, and a suspension of
specie payments was the necessary consequence. This suspension continued until
1821.
Until the general pacification of Europe, there was no opportunity for reforming
the monetary code, and establishing it upon a firm basis. Meanwhile the silver
coinage, the need of which was most urgently felt for the smaller purposes of traffic,
was supplied in a semi-legal way, by the issue of Tokens. In 1804, the Bank of
England, with the approbation of his Majesty's Council, effected a recoinage of two
millions of Spanish dollars, at the Mint of Mr. Boulton, near Birmingham. The
pieces were stamped with appropriate devices, with a valuation of five shillings. The
Bank of Ireland resorted to the same expedient, making the dollar a token for six
* The whole coinage, 1774 to 1788, was 181 millions sterling; probably three-fourths of this was recoinage. The
deficit of weight was an expense to the government of a little over half a million. Ruding, vol. i.
f Marsh, quoted by Ruding, ii. 499. These assignats, or state bonds, were founded upon the landed property taken
from the clergy. In five years, the issue amounted to 36,000 millions of francs. Eventually they were received at
one-seventieth of their nominal value, in payment for public lands. Thiers's French Revolution.
36 BRITAIN.
shillings Irish* By Act of Parliament of the same year, these issues were so far
legalized as to make it felony to counterfeit them.
As these larger pieces did not supply the deficiency, smaller ones were issued subse-
quently by the Banks, and by local corporations ; and as will presently appear, at an
increased reduction of real value. In 1805, the Bank of Ireland issued pieces of ten
pence, and five pence, coined from dollar silver, professedly at the rate of 65 pence
to the dollar. In 1811, the English country banks, and mercantile houses, put in cir-
culation their own shillings and sixpences; and from the same year to 1815, the
currency was further supplied by tokens of 3 shillings, and 1£ shillings, from the Bank
of England.! The Bank tokens, and doubtless the others also, were eventually
redeemed at the prices stamped upon them.
During all this period, the gold coinage was carried on at intervals, but in very
reduced amount.^
In 1816, peace having been re-established, and trade restored to its due course, the
state of the coinage was made a subject of legislation, and, as already observed,
important changes in both the gold and silver coin, were provided by Act of
Parliament.
Dr. Kelly remarks, that — " In the history of the English Mint, the coinage of 1816
will be memorable, not only on account of the important alteration then made in the
monetary system, but also for the great accommodation afforded to the public. Thus,
after a long period of disorder in the currency, the new silver coins were exchanged
for the old, on very liberal terms ; and although they amounted to several millions of
pounds sterling, the exchange was effected simultaneously throughout the kingdom.
The supplies too, from the Mint, have been since continued, to all parts of the
British dominions, with a degree of regularity and despatch, unknown at any former
period. "§
The following are the legal rates of coinage, before and since 1816.
From a pound troy of gold, 22 carats or 916| thousandths fine, 44A guineas were
coined ; and since 1816, 46ff sovereigns; the various divisions or multiples being in
proportion.
From a pound troy of silver, IItV parts in 12 fine, or 925 thousandths, 62 shillings
were coined ; under the new system, 66 shillings ; other denominations in proportion.
* It is stated by Ruding, that the silver coins in Ireland had by this time become so light, that 21 shillings were
not intrinsically worth more than nine. As 12 pence English are equal to 13 pence Irish, the dollars of the Bank of
Ireland " went farther" than those of the other institution.
f This system of tokens began with copper, in 1788, in default of lawful coinage. Ten years after, the private
coinage of copper was arrested.
t A new Mint was erected in London, between the years 1806-10. In Ruding's Annals, iii. 523, it is stated that
the cost of the premises was £7,062, cost of building and machinery, £261,978 : Total, £269,040.
t) Kelly's Cambist. Introd.
B R I T A I N.
37
This advance is equal to 6i per cent, upon the old coinage. The new coins, being
rated higher than the market price of silver, are eflectually kept within the realm ;
occasional specimens only finding their way abroad.
From the above rates, it is found that the full weight of the guinea is 129i grains,
and the sovereign, 123J grains. But if the former weigh 128, or the latter 122g, they
are still a legal tender, at their nominal rates. The full weight of the old crown, is
464i grains, and of the new, 436J grains.* The crown is equal to five shillings, or
60 pence.
The remedy of the Mint, or allowed deviation, is, for gold, 12 grains per lb. in
weight, and tV carat in fineness ; for silver, 1 dwt. per lb. in weight, and ^hth part in
fineness.
Great Britain prescribes distinct systems of coinage for her numerous colonies, of
which notice will be taken, under the heads of Guiana, Hindustan, Mauritius, Sierra
Leone, and West Indies.
England should now be ranked among the silver producing countries, since the
recent improvement in parting argentiferous lead ores. By the process of Pattinson,
three ounces of silver in a ton of lead, will pay the expense of its extraction. This
proportion is about one part in ten thousand. England and Scotland raise annually
from 35,000 to 40,000 tons of lead, or about four-sevenths of the whole produce of
Europe. In one year (1835) the argentiferous lead, containing about 8| ounces per
ton, yielded 140,000 ounces of silver. In the same year, the amount of 36,000 ounces
was raised in Cornwall, from silver ores; making the whole production 176,000
ounces, worth, if fine, about 227,000 dollars.f
GOLD COINS.
DENOMINATION.
DATE.
HEIGN.
WEIGHT.
GRS.
FINENESS.
THOCS.
VALUE.
D. C. M.
Guinea
1719
George I.
127
914
5 00
do. .
1727-60
George II.
127
915
5 00 5
Five guineas .
1729
do.
644
913
25 32 2
Guinea
1760-85
George III.
127-5
915-5
5 02 6
do. .
1785-1809
do.
128
915-5
5 04 6
do. .
1813
do.
128-3
915-5
5 05 9
Seven shillings
1806-13
do.
42
915-5
1 65 6
* The fractions are not extended to an arithmetical nicety.
10
f Ure's Diet. Arts. Mines, &c., London, 1839.
38
BRITAIN.
GOLD COINS (continued).
DENOMINATION.
DATE.
REIGN.
WEIOHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Half guinea .
1801-13
George III.
64
915-5
2 52 3
Quarter do. .
1762
do.
32
915-5
1 26 2
Sovereign
1817-20
do.*
122-5
915-5
4 83
do. .
1820-29
George IV.
122-7
915-5
4 83 8
Half do.
1820-29
do.
61-2
915-5
2 41 3
Double do. . ■
1826
do.
246-5
915-5
9 71 9
Sovereign
1831-36
William IV.
123
915-5
4 85
Half do.
1831-36
do.
61-3
915-5
2 41 7
Sovereign
1838-39
Victoria.
123-3
915-5
4 86 1
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Shilling
1721-23
George I.
87
930
21 8
Half crown
1745-46
George II.
218
930
54 6
Shilling
1727-46
do.
90
930
22 5
do. .
1787
George III.
92
926
22 9
Half crown
1817-19
do.
215
930
53 9
Shilling
1816-17
do.
86
934
21 6
Sixpence
1817-20
do.
43
930
10 8
Crown .
1822
George IV.
435
930
1 09
Half crown
1820-26
do.
216
930
54 1
* The gold coins are remarkably uniform in fineness, but below the legal standard, about one thousandth. In weight,
as they are found in circulation, 1000 sovereigns will vary from 5111 to 5124 dwts. The par value of the pound sterling
is therefore $4 84 as near as may be ; and our dollar is equal to 49-6 pence. Sterling gold is worth 94-6 cents per
dwt.
B R I T A I N.
39
SILVER COINS (continued).
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C M.
Shilling
1820-29
George IV.
86-5
930
21 7
Half crown* .
1836
William IV.
216
930
54 1
Shilling
1831
do.
87
930
21 8
do. .
1838-40
Victoria.
87
925
21 7
Sixpence
1838
do.
43
925
10 7
Fourpcnccf .
1838
do.
29
925
7 2
We have not included the Tokens in the above table. They possess now no com-
mercial importance, but for the sake of their historical interest, and for the gratifica-
tion of those who retain them as specimens, a few particulars are annexed.
They are evidently coined from dollar silver, being of the fineness of 896 to 901
thousandths. The following varieties have been examined here.
DENOMINATION.
DATE.
BY WHOM ISSUED.
WEIGHT.
GES.
VALUE.
D. C. M.
5 shillings
1804
Bank of England.
411
99 7
6 shillings Irish
1804
Bank of Ireland.
409
99 2
30 pence Irish
1808
do.
190
46
10 pence Irish
1813
do.
53
12 8
3 shillings
1811-12
Bank of England.
228
55 2
1 shilling 6 pence .
1812-15
do4
115
27 7
* The almost uniform result of 930, being 5 thousandths higher than lawful standard, is found by humid assay. The
old method of assaying silver is said to be still in use in the British Mint ; but the fineness seems to be falling to a humid
standard.
f There are lower denominations of threepence, twopence, 14 pence, and penny, which are coined for royal distri-
bution, and are called maundy money.
I Besides which there were numerous shillings issued in 1811 by the country banks, and by merchants of Bristol,
York, and other places, weighing from 60 to 68 grains, and worth 14J to 164 cents.
40 BRUNSWICK.
BRUNSWICK.
Braunschiveig.
To avoid confusion in the examination of Brunswick moneys, the reader will bear
in mind that the ancient dominion of that name has, for the past three centuries, been
divided into the two sovereignties of Brunswick and Hanover ; but it is only within
a few years that the King of Hanover has removed the title of " Brunswick and
Luneburg" from his coins, and substituted the former. For a proper understanding
of the distinction between the two houses, see the article Hanover.
Gold Coins. There seem to have been no ducats coined in Brunswick, for more
than a century past.
In 1742, the coinage of double, single, and half pistoles, (rated at 10, 5, and 2£
thalers,) was established at the standard weight of 35 pistoles to the Cologne mark,
21| carats fine. It is probable that the standards have since been slightly reduced, as
in Hanover the rate is 35i to the mark, and the Brunswick pieces show no difference
of weight. The fineness also, which in the last century was 21§ carats, or 903 thou-
sandths, has for many years been no higher than 896.
The ten-thaler pieces find their way to this country in considerable quantities, and
are frequently recoined at our mint. As Brunswick is a state of only 250,000
inhabitants, and without a large commercial city, this fact seemed remarkable, until
it was ascertained that the gold coinage is not effected on behalf of the state, but of
bankers at Hamburg and Bremen, who send their bullion to the mint at Brunswick.
Its reaching the United States is accounted for by the fact that German emigrants,
embarking at one or the other of those cities, generally change their funds from the
interior, for such as are current at the port ; which latter are brought over*
Silver Coins. The standard of the German Convention of 1753, was adopted in
Brunswick about ten years after. Ten species thalers were coined from a mark of
fine silver; or 8£ thalers to the mark, alloyed to 13J loths. In our terms, this is a
weight of 433J grains, and fineness of 833 thousandths. The half and quarter thaler
(called also the § and J piece, being those parts of the thaler of account) were of
proportional weight, and of the same fineness. Besides these coins, there have been
issued at various times, the florin, or § piece of the Leipsic rate ; sometimes of fine
silver, and sometimes only three-fourths fine; the weight being so proportioned as to
contain 200-5 grains fine. Thus there are three florins, or § pieces ; the first is the
half thaler of the convention, the other two are the fine and base florins of the
* For information on this and other articles, we are indebted to the correspondence of John Cuthbert, Esq., U. S.
Consul at Hamburg.
B R U N S W I C K.
41
Leipsic rate. The former is worth 481 cents, the latter two 54 cents, in our money.
Pieces of I and tV of the thaler, and of one marien-groschen, 6 pfennigs and 4 pf.
constitute the scheidemiinze, or small coin of the duchy. A convention-florin is equal
to 24 mar. gros. of 8 pfen. each.
Brunswick, although not represented in the German mint-convention of 1838, has
since acceded to the regulations then adopted. (See article Germany!) Rixdollars, of
14 to the fine mark, have been issued recently.
The silver mine of Rumelsberg, near Gosslar, is the joint property of Brunswick and
Hanover. Its annual product is about 10 marks of gold, and 4000 marks of silver.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
X Thaler
1745
Charles.
202
898
7 81 2
V do. . .
1748-64
do.
102
903
3 96 6
X do. . .
1805
Charles William Ferd.
204
896
7 87 2
do.
1813-14
William Frederic.
204-5
896
7 89 1
do.
1818-19
George, Regent, in name of
Charles.
204-5
896
7 89 1
do.
1824-30
Charles.
205
896
7 91
do.
1831-38
William.
205
894
7 89 3
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Florin .
1704
Anthony Ulrich.
201
997
54
Species thaler
1764
Charles.
428
833
96
Half do.
1764
do.
215
833
48 2
Florin (Leipsic.)
1764
do.
198
997
53 2
f th Thaler .
1764-75
do.
78
564
11 8
Species thaler
1790
Charles William Ferd.
428
833
96
Florin .
1789-1800
do.
263
750
53 1
ith Thaler .
1780-92
do.
78-5
561
11 9
do. .
1831
William.*
88
Thaler .
1838
do.
343
750
69 3
* Not assayed.
11
42 BURMAH— CENTRAL AMERICA.
BURMAH.
There are no coins struck in the Burman kingdom. Silver is paid by weight ;
and for the purposes of small change, lead is used, also by weight ; the usual value of
which is estimated as the ihih part of silver. The silver is melted into small cakes,
from four to twenty ticals in weight ; and these are cut into bits, as occasion may
require. The fineness is not well ascertained, and is no doubt very irregular. There
are, however, three kinds of alloy familiarly known ; the basest is said to be three-
fourths silver; the next, called huet-nee, or "flower silver," is known by a crystallized
appearance on the surface, near the centre of the cake; this is rated 15 percent,
better than rupee silver of Hindustan. A third kind, called dyng, on which the
crystallization is more spread over the disk, is considered five per cent, better than
huet-nee. When a customer is making a purchase, the merchant asks to see what
sort of silver he is going to pay in, and sets his price accordingly.
Gold is not used as currency ; all that can be obtained is employed in the
manufacture of jewelry and gilding of temples.
The late King of Burmah attempted to introduce a coinage of silver, by the aid of
British machinery ; but such an excessive value was attempted to be set upon the
coins, that the people could not be prevailed on, even with violent measures, to adopt
them in trade*
At Rangoon, the principal seaport, the tical weighs 250 troy grains ; at Pegu, it
is 13 grains less.t
CENTRAL AMERICA.
Republica del Ceniro de America.
This country, long a colony of Spain, declared itself independent in 1821. It was
united to Mexico, during the ascendency of Iturbide, but became a distinct govern-
ment in 1823. The earliest of its coinage, as seen here, is dated 1824.
* The above is collected from Rev. H. Malcom's Travels in S. E. Asia, a valuable work recently published at
Boston. We should observe, that as rupee silver of Hindustan is itself near 92 per cent, fine, there is no room for an
additional 15 per cent. ; this valuation of the huet-nee must therefore be merely commercial.
f Kelly's Cambist.
CHILI. 43
The monetary system continues the same as that of the mother country. (See
Spain.) The mint is at the capital, New Guatemala, to which the initials N. G. on
the coin refer.
The coinage is unimportant, in a commercial view ; specimens rarely appear here.
The country, however, is productive of the material for coining; the value of one and
a half millions of dollars, in gold and silver, having been raised in five and a half
years, ending June 1825*
The doubloons, as late as 1833, weigh 417 grains, and may be rated at 833 thou-
sandths fine, which is greatly below their proper standard. They are worth therefore
only $14 96.
The dollars, 1824-36, average 415 grains in weight, and 896 thousandths fine ;
value 1001 cents.
CHILI.
Chile.
This country was a dependency of Spain until 1817, when it became a republic.
The earliest patriot coinage bears date the same year.
The system of coinage is the same as that received from Spain. The mint is at
Santiago ; the mint-mark on the coin being an S, surmounted by a small o.
Although this country is rich in mines of gold and silver, the coinage is unim-
portant. Silver is chiefly exported in the shape of bullion, which is an opposite
policy to that of Mexico. Few of the dollars, and none of the fractional parts, are
seen here.
The coinage of gold and silver, previous to 1820, averaged about one million of
dollars annually ; the gold being about twice as much as the silver. Since that time,
the average has fallen to #200,000 yearly, only one-fifth of which is in silver. The
export of silver bullion, in 1836, was about #850,000.t
The doubloons vary in weight about four grains, but their average is that of
doubloons generally, say 417 grains. The pieces from 1819 to 1834, with the legend
" Estado de Chile," are 867 fine, and worth #15 57. Those of 1835 and since, with
the title " Republica de Chile," are 872 fine, and therefore worth $ 15 66.
The dollars are tolerably accurate in weight, ranging from 411 to 418 grains,
averaging 414. The fineness is unusually high, varying from 905 to 911 thou-
* Thomson's Narrative. f See rurther statistics in the Appendix.
44 CHINA.
sandths. They may be averaged at 907, and are therefore worth 101 cents. The
dates examined here are from 1817 to 1839. A specimen of the latter date, very
recently received, shows an alteration in the devices of the coinage, but none in the
standards and value ; the weight of the piece being 412 grains, and the fineness 908
thousandths; equal to 100.7 cents.
CHINA*
While every other nation upon earth regards a distinctive coinage as its sacred
prerogative, and as one of the clearest assertions of sovereignty, the Celestial
Empire is content to supply, with its tokens of brass, the meaner purposes of trade,
and leave to private artisans and "outside barbarians" the nobler duty of furnishing
a currency for large operations. The only coin which the emperor strikes, is that
called by the Chinese tsien or tong-tsien, by the Portuguese kaxa, and by the English
cash. It is a composition of brass,t about an inch in diameter, with a large square
hole in the centre. By this perforation the pieces are strung in parcels of a hundred,
for the convenience of counting, as also of carrying. The respective mints, where
these are coined, are distinguished by an appropriate character on the reverse, in the
Manchu writing. On the obverse are four Chinese characters, giving the emperor's
name, or one of his names, and the words tong pao, signifying " current money.":}:
The older pieces weigh about 44 grains ; the modern ones average 68. Those of
Kia-king, who reigned from 1795 to 1820, as well as those of Tan-kivang, his son
and successor, now reigning, have the appearance of being cast in a mould. They
were formerly reckoned at 1000 to the tale or hang of fine silver ; but of late years,
probably through over-issue, their value has declined to 1200 or 1300 per tale. This
last is the integral money of account, being equal to 580 troy grains. In fine silver,
it is equivalent to 156-2 cents ; in dollar silver, about 140 cents. Hence we may say,
that about 800 cash are equal to a Spanish dollar.
The tale is subdivided decimally ; ten candareens make a mace, and ten mace make
a tale.
The Chinese freely receive foreign silver coins of established character, especially
* Chon-ku, or " centre of the world," is the title (says Malte-Brun) by which the Chinese designate their own
country.
f According to Bonneville, the alloy is six parts of copper and four of lead. In Marsden's Numismata Orientalia, it
is stated to be a mixture of copper and zinc.
J; Marsden, art. China.
CHINA. 45
the pillar and Mexican dollars. It has been and probably still is customary for each
merchant to stamp the piece with his own mark, as it comes into his hands. Some
of these which have passed through many such operations, have found their way
here ; they are strangely mangled and disfigured, and scarcely leave a trace of the
original impressions. The coins are also cut into bits, for the convenience of
change*
Merchants usually carry steelyards, called dotchin, for the purpose of weighing
coins and precious metals.
There is still a third species of currency, consisting of small bars or ingots, of gold
or silver, of all sizes, from one half to one hundred tales. These ingots from their
peculiar shape are called by the English traders a shoe, and by the Dutch, schuit, or
" boat," as in Japan. They appear to have been melted in an oval crucible, and
cooled gradually, so that the metal, sinking in the centre, leaves a considerable
cavity in the upper surface.
The Chinese are known to be very expert in judging of the fineness of metals,
especially of silver, merely by handling. Passing a parcel of dollars through his
fingers, a skilful cambist separates between the good and bad with astonishing
rapidity and accuracy/)" M. Bonneville affirms that they are no less expert in the
art of pickling their gold bars, or giving them the appearance of nearly fine gold, by
plunging in nitric acid. He observes that in his time (1806), nearly all the ingots
of gold from China and India were thus treated. Some specimens, which appeared
to be about 980 thousandths fine, proved upon assay to be only 750 to 833.
Their notation of fineness is centesimal; that is, they represent fine metal (which
they call sycee) by 100 toques or touch, and alloys are stated proportionally. Old
Spanish dollars (now seldom seen) are rated at 92 touch; the new, at 90.
Two of the silver shoes, received here lately, weighed 5i ounces and 60 ounces
respectively, and were 982 thousandths fine. This would doubtless be considered in
trade as sycee silver.
* The same has heen practised in the West Indies, and in our own country.
f Parcels of condemned dollars have sometimes been brought to this mint from China, to have their precise value
ascertained. As an example, we may mention a small lot of 22 pieces; one only of these was a good dollar; another
was worth 80 cents ; twelve pieces were worth about 50 cents each ; the remainder various, but much baser. Some
of them were well executed, and likely to deceive.
12
46 COCHIN CHINA — COLOMBIA.
COCHIN CHINA.
A silver coinage is struck in this country, which may easily be mistaken for
Chinese. On one side are four characters, the same as on some of the Chinese cash,
and on the other side is displayed the dragon of China. A specimen is shown in
Plate XVI., No. 15. There are two denominations; one weighing 423 grains, the
other 214, doubtless meant for half of the former. We have not been able to procure
pieces for assay. The specific gravity of the larger piece, as tried here, was 9-72,
and of the smaller 9-85 ;* consequently they are about three-fourths fine, and the
whole piece is worth 85 cents.
As Spanish dollars are current in this country, it is possible this larger coin is
meant for a substitute, being a little over the dollar weight. In fineness it is very
deficient.
COLOMBIA.
This country formerly consisted of the vice-royalty of New Granada, and the
captain-generalship of Venezuela, both under the dominion of Spain. In 1819, the
two governments, having declared independence, were united under the name of
Colombia. The nation was freed from royal authority, after a struggle which
terminated in 1822. In 1831 the union was dissolved, and the country was divided
into the three republics of Venezuela, New Granada, and Ecuador. As in the
present work it would be too minute to follow up these subdivisions, the coinage of
the whole region will be treated under the present head ; especially, as none of the
coins of Venezuela since that dismemberment, and but a few gold pieces of Ecuador,
have reached us. Moreover, the title of Colombia has been retained on the coins of
New Granada up to the year 1836 inclusive.
The mints of Bogota and Popayan have been long established ; that of Quito
seems to have been created since the disunion. During the revolution, there was
also a mint at Caraccas. The coinage is distinguished, in the three former cases, by
* For an examination of these and other rare specimens of Eastern coinage, we are indebted to W. G. Stearns, Esq.
of Boston, an amateur collector of coins, whose valued correspondence we are happy to acknowledge in this place.
This coinage must have originated since 1824, as neither Marsden nor Kelly take notice of it.
COLOMBIA. 47
the name of each mint in full, on gold pieces. This distinction is essential, as to the
character of the coin ; as will be seen by the tables.
The doubloons and their fractions are more frequently seen in this country, or at
least at this mint, than any other of the class usually called " patriot." They are
pretty regular in weight ; the Bogota coinage having a slight preference in this
respect. In fineness, the doubloons of Popayan are decidedly inferior, as has been
established by repeated trials, upon large amounts. The divisions of this doubloon,
especially the escudo, or one-eighth, and its half, are still lower in fineness, and very
irregular in weight. But the lowest grade of fineness is found in the coins of
Ecuador.
Here it may be remarked, that although all doubloons generally command a
premium in commerce, sufficient to divert them from rccoinage at the mint, yet the
money market is sometimes in such a state as to send them hither very freely. In
the first six months of 18,38, there was received here about $300,000. The royal
doubloons are more in estimation, but, by reason of wear, have really a less intrinsic
value by tale. (See Spain.)
The dollars of Colombia are scarce in this quarter ; but their extraordinary
fluctuations require particular notice.
Before 1822, the silver coinage presented a confused and anomalous series, unfit to
be ranked with the same class in other parts of Spanish America. The troubled
state of the country seems sufficient to account both for the irregularity and debase-
ment which the coins of that epoch betray. From 1822 to 1834, both dates
inclusive, no specimens appear; but in 1835 a new dollar with new devices was
issued, superior in weight and fineness to any other, though evidently meant to be
modelled after the Spanish standards. Finally, in 1839, a third dollar appears,
bearing on its face a valuation (like the rest) of eight reals, and a lei of eight
dineros, or two-thirds fine.
At Caraccas, down to 1821, there was issued a coin of rude workmanship, marked
2 reals. This was of course intended to be one-fourth of the dollar, but the con-
nexion is not well maintained. In the years 1829-30, there were also coined at the
same place, pieces of one-fourth real, or -jV part of a dollar.
Colombia has long been known as a gold region ; it has also some silver, but thus
far of little importance. For a long series of years, prior to 1801, the annual
produce of gold was two and a half millions of dollars. In later times there has
been a falling off, but to what extent is not known. A considerable share of its gold-
dust comes to this mint, and is marked by the presence of platinum. The amount of
coinage, at the mint of Bogota, from 1810 to 1825, (sixteen years,) was $16,132,000
in gold, and $275,000 in silver; at Popayan, in three years ending 1825, $2,079,000
COLOMBIA.
in gold, and $40,000 in silver.* Probably this will afford some idea of the amount of
the precious metals raised in the country. The export of specie and bullion, chiefly
gold, from the port of Carthagena, was #1,700,000 in 1837. (See Plate III.)
GOLD COINS.
DENOMINATION.
DATE.
STATE.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. 31.
Doubloon of 8 Escudos
1823-36
Colombia.
Bogota mint.
416-8
870
15 61 7
do. .
1823-36
do.
Popayan do.
416-5
858
15 39
ith do. .
1823-36
do.
Bogota.
104
865
3 87 4
|th do. .
1823-36
do.
do.
51
865
1 90
do. do.
1823-36
do.
Popayan.-)"
51
852
] 87 1
TVth do. .
1823-36
do.
Bogota.
25-5
852
93 6
do. do.
1823-36
do.
Popayan.
25-5
852
93 6
Doubloon
1837
New Granada
Bogota.
416-8
870
15 61 7
Half do. .
1836
Ecuador.
Quito.
209
844
7 59 6
ith do. .
1835
do.
do.
104
844
3 78
^th do. .
1835
do.
do.
51
844
1 85 4
SILVER COINS.
DENOMINATION.
DATE.
STATE.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Dollar, of 8 reals
1819-21
Colombia.^
363
730
71 4
do.
1835-36
do. Bogota mint.§
417
910
1 02 2
do.
1839
New Granada. do.
356
680
65 2
2 reals
1815-21
Caraccas & Cundinamarea.||
74
690
13 8
i real
1829-30
Caraccas.
8-5
795
1 8
* Jacob's Inquiry, &c. chap. xxv.
t These vary in fineness from 849 to 854 thousandths, and in weight, from 44A to 61 J grains. Such irregularity in
weight is almost unparalleled.
{ This dollar varies from 707 to 770 in fineness ; in weight, 343 to 382 grains. The mint-allowance was truly a la
Turque.
} These vary from 907 to 917 in fineness. || Vary from 59 to 82 grains in weight.
DENMARK. 49
DENMARK.
The coinage of this country is somewhat confused by three cotemporary systems
of money, one for Denmark Proper, a second for the duchy of Holstein, and a third
for Norway. Holstein is considered a part of Germany, though under the govern-
ment of the King of Denmark ; and before 1813, had its own suite of coins.
Norway, formerly connected with Denmark, was assigned to Sweden in the year
just named. Its coinage will be considered in a separate article.
The royal succession of late years has been as follows : Frederick V. came to the
throne in 1746; Christian VII. in 1766; Frederick VI. in 1808, and Christian VIII.,
the reiirnina; sovereign, in 1839.
The gold coins, previous to the reign of Frederick VI., were the specie ducat, of
the German standards, the current ducat, seven-eighths fine, and the Christiand'or, at
21§ carats, or 903 thousandths fine, and 35 pieces to the mark of Cologne, or 103
troy grains per piece. Since the remodelling of the moneys in 1813, the only gold
coins are the double and single Frederickd'or, or pieces often and five thalers. Their
legal fineness is 21£ carats, or 896 thousandths, and the weight at the rate of 17JI
pieces often thalers to the mark, or 205 troy grains per piece.
The silver coins may be ranked in two classes ; those prior to, and those since the
monetary code of 1813.
First Class. The unit or basis was the old species daler, coined in each section of
the monarchy. In Denmark it was reckoned at 96 skillings, in Norway at 120
skillings, and in Holstein at 60 schillings. Its legal standards were, 14 loths or 875
thousandths fine ; in weight 832 pieces to the mark alloyed, equivalent to 9\ to the
mark fine ; in our expression, 445-8 grains to the piece* There were also pieces
of one-half, two-thirds, and one-third, of the same fineness, and proportional weight ;
the two latter specially for Holstein, and designated as 40 and 20 schillings. The
one-sixth piece was coined at 1 1 loths, (687 thousandths,) and at a weight of 38/?
pieces to the alloyed mark ; the one-twelfth piece, 8 loths (500 thousandths) fine, and
55i to the mark ; lastly, the one-twenty-fourth, at 6 loths (375 thousandths) and 83^
to the mark.
Second Class. By a royal edict of 1813, a new integer for silver money was
established, called the rigsbanlc daler, or dollar of the national bank, just half the
weight and value of the species daler. This was equal to 96 new skillings ; hence
* This rate is of long standing, having been established by Frederick I., who reigned A. D. 1523-33.
13
50
DENMARK.
the lower denominations of 32, 16, and 8 rigsbank skillings, are equivalent to the Jth,
rVth, and sVth pieces above named as of the old nomenclature.
By an edict of 1836, there were added to the coinage, the small pieces of 4, 3, and
2 skillings, of 250 thousandths fine. These are coined at 21 J rigsbank dalers to the
mark fine, and therefore yield a government profit of 13J per cent.
The coinage of the mint at Copenhagen from 1814 to 1838, (twenty-five years,)
amounted to 5,252,700 rigsbank dalers, equivalent to $2,757,700 in our money ; an
annual average of $128,100. There was no coinage from 1827 to 1832, and none
in 1836. The amount executed at the Altona branch has not been ascertained*
(See Plate X.)
The coinage struck for the Danish islands in the West Indies, will be noticed
under that head.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Species ducat
1749
Frederick V.
53-5
988
2 27 6
do. .
1795-1802
Christian VII.
53-7
979
2 26 4
Current do. .
1783
do.
48
876
1 81 1
Christiand'or
1775
do.
103
905
4 01 4
Double Frederickd'or
1813-39
Frederick VI.
204-5
895
7 88 2
Frederickd'or
1813-39
do.
102
895
3 93 2
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEICHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Species daler .
1769-77
Christian VII.
444
875
1 04 6
60 schillings of Holstein
1787-94
do.
444
878
1 05
40 schillings, or § .
1787-97
do.
295
878
69 8
20 schillings, or -J .
1788-1808
do.
148
878
35
10 schillings, or -J- .
1787-89
do.
93
670
16 8
* In the preparation of this article we are chiefly indebted to the correspondence of C. J. Hambro, Esq., TJ. S.
Consul at Copenhagen.
EGYPT.
51
SILVER COINS (conttntted).
DENOMINATION.
DATE.
HEIGN.
WEIGHT.
GRS.
FINENESS.
TIIOUS.
VALUE.
d. c. a.
] S|i. dri l.-r
1798-1801
Christian VI 1.
113
670
20 4
Sp. daler
1837-39
Frederick VI.
445
877
1 05 1
Rigsbank daler
1813-39
do.
222-5
877
52 6
3U shillings .
1820
do.
93-5
692
17 4
EGYPT.
Misr.
This country, once a great empire, was reduced to the condition of a Turkish
province in 1517, and has so remained ever since. At the present day, under the
vigorous administration of the Pacha Mehemet Ali, its dependence upon the Ottoman
power is scarcely more than nominal. Egypt has its own system of money, bearing
no relation to that of Turkey.
Gold Coins. As long ago as 1 703, in the reign of Achmet III., the sequin fondoukli
was the same at Constantinople and Cairo, and intended to be equal to the European
ducat. In 1730, the Cairo sequin fell considerably both in weight and fineness, and,
as will appear in the annexed tables, continued to grow worse in the latter respect.
Under the present pacha the coinage is brought to a well adjusted system, contrast-
ing advantageously with that of the mother country, and of the sister provinces south
of the Mediterranean. The gold coins are of five denominations, viz. 100, 50, 20, 10,
and 5 piastres. The last two or three of these seem inconveniently small. The
principal coin is nearly equal in value to our half-eagle: hence the Egyptian piastre,
in gold, is worth five cents.
Silver Coins. In 1801, the piastre of Cairo was worth 20 cents of our money ; less
than that of Constantinople, which was 26 cents. Under the new system of Mehemet
Ali, which is based upon the Austrian standards, the real, equivalent to the Austrian
rixdollar, or 97 cents, is rated at 20 piastres ; making the silver piastre worth 4-85
cents* There are six denominations of silver coin; 20, 10, 5, 1, J, and J piastre.
* For duplicate specimens of the new Egyptian coinage, from which the assays are made, as also for information
concerning them, we are indebted to the attentions of John P. Brown, Esq., late drogoman to the United States lega-
tion at Constantinople.
52
EGYPT.
The ghersh (piastre) is the integer, or unit, of the moneys ; it is divided nominally
into 40 paras. (See Plate XV.)
GOLD COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Sequin fondoukli .
1115(1703)
Achmet III.*
53
958
2 18 7
do. .
1143(1730)
Mahmoud I.
39
940
1 57 9
do. .
1143
do.
39
848
1 42 4
do. .
1171 (1757)
Mustapha III.
39
781
1 31 2
do. .
1187(1773)
Abdul Hamed.
39
786
1 32
do. .
1187
do.
39
645
1 08 3
do. .
1203(1789)
Selim III.
39
690
1 15 9
Half do. .
1233(1818)
Mahmoud II.
18
670
51 9
Bedidlik, of 100 piastre
s 1255 (1839)
Abdul Majeed.
132-2
874
4 97 6
Nusflik, of 50 piastres
1255
do.
66-1
875
2 49 1
Kairie Hashreen, 20
1255
do.
27
874
1 01 7
Kairie Bashireh, 10
1255
do.
13
874
48 9
Cataa Hamsee, 5
1255
do.
6-7
874
25 2
SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GR3.
FINENESS.
THOUS.
VALUE.
D. C. M.
Yirmilik, or ^ piastre .
1216(1801)
Selim III.
96
372
9 6
Real, or 20 piastres
1255(1839)
Abdul Majeed.
430
836
96 8
Nusf, or 10 piastres
1255
do.
215
832
48 2
Ruba, or 5 piastres
1252(1836)
Mahmoud II.
107-5
850
24 6
Ghersh, or piastre
1255(1839)
Abdul Majeed.
21
842
4 8
Ashreneah, or 20 paras
1255
do.
10-5
843
2 4
Ashereh, or 10 paras .
1255
do.f
5-2
* The name of the sultan, not the pacha, appears on the coins. The first date given is that of the Hegira ; the
corresponding Christian year is in parentheses.
f Not assayed.
F R A N C E. 53
FRANCE.
In taking a view of the coinage of this empire for the past century, it is seen to
be marked by three epochs.
For some years previous to 1726 there was a remarkable confusion in the currency.
Frequent changes were made in the coin, both as to the standards and valuation ;
the effect of which was a constant and prodigious depreciation of the livre tournois,
the integral money of account. For example, the livre of 1689, which in fine gold
corresponded to a weight of 60-4 centigrammes, and in fine silver to 7-48 grammes,
was, after a series of reductions, brought down to one third of those quantities, in a
space of only thirty-one years.* A reform became necessary; and in 1726, under
Louis XV., a general recoinage took place, both of gold and silver, upon a new basis.
This standard was steadily maintained for a long course of years. The silver coins
remained unaltered until the Revolution; but in 1785 it was judged expedient to
reduce the gold coin in weight, and it was accordingly called in, and recoined at a
new rate. These therefore are two of the epochs above noted ; and it should be
added, that when French crowns are now spoken of, they are understood as those
coined upon the basis of 1726 ; louisd'ors are those issued since 1785.
The third epoch was the Revolution ; an unlikely occasion, apparently, for the
developement of a cautiously devised system of coinage/!" Nevertheless, it was in
1795, the year III. of the Republic, that the present admirable and permanent
system was begun, although not consummated until eight years after. Its basis was
no less a standard than the dimensions of the earth. First, the distance from the
equator to the pole, which was ascertained by certain computations, being divided
into ten million parts, gave the metre, or standard of long measure, — equal to 39-371
inches. Next, a cube of pure water, at the temperature of melting ice, measuring
* From 16S9 to 1726 there were, in the gold coin, nine changes of standard or value ; and as many in the silver
coin. See Bonneville, art. France.
f The occasion would be thought peculiarly unfavourable, on remembering that the Ruling Powers of those days
issued paper money called assignats, to the extent of 36,000 millions of francs, in the short space of five years.
(See Thiers's French Revolution.} Nevertheless, it is well agreed by considerate men, that any thorough change
in the standard measures of capacity and value, however judicious and desirable, can hardly be effected at any
other time than during a grand political convulsion. The public are extremely reluctant to change their pounds and
bushels, by which they are accustomed not only to measure, but to speak and think. Before our own Revolution, we
had the cumbrous nomenclature of pounds, shillings, and pence, brought from the mother country ; and although
advantage was taken of our new political condition to introduce a decimal system of money, it required many years to
accustom the people to the alteration. It was common to reduce dollars and cents to shillings and pence, before they
could be well apprehended.
14
54 FRANCE.
each way the hundredth part of this metre (called a centimetre), gave a certain
weight, which was called the gramme. This was the standard of weight, and is
equivalent to 15-435 troy grains. From this, finally, the franc was deduced, by a
simple standard, to be stated presently. All these units of measurement were divided
or multiplied decimally into other denominations, by which the system possessed
completeness as well as simplicity.
The franc was at first equivalent to the livre ; but as the old coinage became worn,
their relative value was modified by law; first, at 80 francs for 81 livres; afterwards,
in 1810, 58 francs were reckoned equal to 60 livres.
The livre was divided, in accounts, into 20 sols, or sous. The franc is divided into
centimes, or hundredths ; but it is common to rate 20 sous to the franc also.
The following are the legal standards of weight and fineness, during the period
embraced in this view.
Gold Coins. From 1726 to 1784, 30 louisd'ors were to be coined from a French
mark weight, at 22 carats fine ; with an allowance under, of 15 grains per mark, in
the weight, and If of a carat in fineness. In our terms, this was 125-9 troy grains to
the louisd'or, less £ grain for allowance; and 916-7 thousandths in fineness, less 16
for allowance. The louisd'or was rated at 24 livres, or 4 crowns ; the double and
half pieces were proportional.
From 1 785 to 1 793, 32 louisd'ors were coined from a mark ; which was 118 troy
grains to each piece. The other standards as before.
From 1794 to 1802, there was no gold coin.
By the law of March 28, 1803, (7 Germinal, an. XI.,) which remains unchanged,
155 pieces of 20 francs, called Napoleons during the imperial reign, were coined from
a kilogramme, or 1000 grammes, nine-tenths fine; with an allowance of two thou-
sandths above, and the same below, both in weight and fineness. The double
Napoleon, of 40 francs, was of proportional weight.
Silver Coins. By edict of 1726, 8Ta ecus, or crowns, were to be coined from a
mark, at liths fine ; remedy of weight, 36 grains per mark ; remedy of fineness,
three parts in 288. In our terms, this was 455-1 grains troy to each piece, less 3-5,
ad libitum; and 916-7 thousandths in fineness, less 10. This piece was rated at six
livres ; the half-crown in proportion.
In 1774, smaller denominations of jth, roth, and 2Vth of the crown were added to
the coinage.
In 1791, there were also added the pieces of 30 and 15 sols, at two-thirds fine, or
666-7 thousandths, with an allowance of 7 thousandths ; the larger piece at the rate
of 24sV to the mark, in weight, less 36 grains per mark, or -roths of a troy grain to
the piece.
By decree of August 19, 1795, (28 Thermidor, an. III.,) the five franc piece and its
FRANCE. 55
divisions were introduced, at the rate of 200 francs to the kilogramme, nine-tenths
fine. The allowance of fineness was 7 thousandths above or below the standard ; of
weight, for the largest coin, 5 thousandths. Only the five franc piece, however, was
coined until the law of 1803, when the denominations of two, one, one-half, and
one-quarter franc were added, and the limits of fineness reduced to three thousandths
above or below the standard of 900 ; so that the coins may not be lower than 897.
nor higher than 903.
The improvements in the mint remedy, or system of allowances, deserve particular
notice. A certain scope of deviation from the standards is necessary, since it is not
possible to obtain precision, in working upon a large scale ; but this scope should
be narrowed, in proportion as the art of metallurgy attains greater perfection.
Formerly the allowed deviation was sixteen thousandths in gold coins ; but by the
law of 1803, it was reduced to four, and in actual practice three is doubtless found
sufficient. But there is another amelioration in the new system. The old remedy
lay entirely below the lawful standard; that is, the coin must not be finer than 916
thousandths, but it might be as low as 900, and yet be lawful. This offered an
opportunity for unfair alloying, which experience shows was not slighted. But the
new remedy lies on each side of the legal standard, above as well as below ; so that
there is a tendency to maintain, on an average, the just medium.
These limitations, introduced with the franc* system, have had the effect to give
great uniformity to the French coinage. To insure their application, there is a rigid
and complicated system of checks, to which the coins of all the mints are subjected.
Previous to the year 1772 there were no less than thirty-one mints in the French
kingdom. At that date the number was reduced to eighteen. Twelve of these have
since been discontinued, so that at present there remain only the mints of Paris,
Bordeaux, Lille, Lyons, Rouen, and Strasbourg. The coinage of each mint may be
known by its mint-mark or letter; that of Paris is the letter A; Bordeaux, K;
Lille, W ; Lyons, D ; Rouen, B ; and Strasbourg, BB.f Each coin has also another
small mark or figure, such as an anchor, lion, caduceus, &c. to indicate under whose
directorship it was issued.
France is famous for the amount of her specie circulation, especially in silver.
This is corroborated by the statistical returns of the minting operations. Taking
Mexico out of view, there is probably no country in the world which compares with
France in the amount of coinage. From 1726 to 1840, a period of 115 years, the
* This term was introduced by Henry ITT. in 1575, who ordered a coinage of francs, of the value of 20 sols each.
The coin was afterwards disused, but the word was long employed in common parlance as a synonyme for livre.
(Salzade, Recueil des Mommies, 1767.)
t The marks of some of the former mints are as follows: Rochelle, H; Bayonne, L; Toulouse, M; Perpignan, Q;
Nantes, T ; Marseilles, an M interlaced with A.
56
FRANCE.
sum may be stated roundly at 8,285 millions of francs, equal to 1558 millions of
dollars. During the reign of the present sovereign, to the close of 1840, the annual
average has been 134 millions of francs (25 millions of dollars), of which seven-
eighths are in silver* French coins, especially of gold, are recoined here in
considerable quantities.
There are some silver mines in France. In 1835, the amount raised was 1756
kilogrammes; in 1836, 1895 kilogrammes.f Perhaps the annual produce might be
assumed at 400,000 francs, or 75,000 dollars.
The order of the French government, during the range of the present treatise, has
been as follows. Louis XV., 1715-1774. Louis XVI., 1774-1793. Republic, 1793-
1804. Napoleon, (Emperor,) 1804-1814. Louis XVIII., 1814-1824. Charles X.,
1824-1830. Louis Philippe, since 1830, reigning sovereign. (See Plate VII.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEICHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Louisd'or
1726-73
Louis XV.
124
897
4 79
Double do.
1744
do.
250
902
9 71 1
do. .
1786-92
Louis XVI.
235
901
9 11 9
Louisd'or
1786-92
do.
116-5
900
4 51 6
Napoleon, of 20 francs
1803-14
Napoleon.
99-2
899
3 84 1
Double do.
1803-14
do.
198-5
899
7 68 5
Forty francs .
1814-24
Louis XVIII.
198-5
899
7 68 5
Twenty francs
1814-24
do.
99-2
899
3 84 1
Forty francs
1824-30
Charles X.
198-6
899
7 68 9
Twenty francs
1824-30
do.
99-3
899
3 84 5
Forty francs .
1830-39
Louis Philippe.
199
899
7 70 5
Twenty francs
1830-39
do.
99-5
899
3 85 2
do.
1840-41
do4
99-5
900
3 85 7
* See Appendix for fuller statistics — procured through the favour of his Excellency Lewis Cass, U. S. Minister
Plenipotentiary at Paris.
f Karsten's Archiv., Berlin, 1840.
J The assay of French gold coins is very regular, varying seldom more than 898A to 899A ; though the most recent
coinage is fully 900. As for weight, it is found that one thousand twenty franc pieces, taken from the circulation,
will vary from 41351 to 4141 J dwts. Hence the true average value of the twenty franc piece is $3 84 5. It will
assist an American memory to note that it is a dollar less than the British sovereign.
FRANCE.
57
SILVER COINS.
DENOMINATION.
DATE.
HEIGN.
WEIGHT.
GRS.
FINENESS.
TIIOUS.
VALUE.
D. C. M.
Crown .
1726-73
Louis XV.
440
912
1 08 1
Half crown .
1726-73
do.
212
912
52 1
Crown .
1774-92
Louis XVI.*
444
912
1 09 1
Half crown .
1774-92
do.
220
912
54
Thirty sols .
1791-92
do.
153
667
27 5
Fifteen sols .
1792
do.
77
662
13 7
Six livres
1793
Louis XVI. — and Republic.
445
912
1 09 3
Five francs .
Year IV.
Republic.
383
902
93 1
do.
1803-04
Bonaparte, First Consul.
383
902
93 1
do.
1804-14
Napoleon, Emperor.
383-5
902
93 2
do.
1315-24
Louis XVIII.
384
902
93 3
do.
1825-30
Charles X.
384-5
902
93 4
do.
1831-38
Louis Philippe.f
385
899
93 2
Two francs .
Various.
Various.
154-5
900
37 5
One franc
do.
do.
76-5
900
18 5
Half franc
do.
do.
38
900
9 2
Quarter franc
do.
do.
19
900
4 6
* French crowns are now seldom seen. They are occasionally brought from Canada to this mint, for recoinage,
being so much worn as to be no longer passable. In a parcel of half crowns, ' lately deposited, there were some
weighing only 202 grains, and worth just 50 cents; others, less worn, averaged 52 cents. The fineness varies from
909 to 915 thousandths. These coins contain two or three thousandths of gold, which is parted profitably at French
refineries. Large quantities of crowns have been thus disposed of — reappearing in the form of fine bars.
f The humid assay, the admirable invention of M. Gay-Lussac, began to be employed in 1831. By the old process,
from 3 to 5 thousandths of silver were lost, so that silver coins were finer, by that much, than it was intended to make
them ; unless the assayer allowed for the loss. Consequently, French five franc pieces prior to 1831 are a little better
than those coined since. The humid assay was introduced here in 1835. It is doubtless destined to become of
universal use.
15
58 GERMANY.
GERMANY.
Deutschland.
Germany is composed of numerous distinct sovereignties, of various grades, each
possessing the right of coining its own money. The coinage of this country would
therefore appear as intricate a study as its political geography,* were it not that
there have been several attempts to simplify and equalize the money, and with a good
degree of success. To exhibit the general standards of coinage, as well as to notice
those of a more limited and special authority, will be the object of the present article.
The coinage of each sovereignty of any importance, will also be treated of under its
own head.
Generally it may be observed, the northern statest reckon by the thaler, divided into
groschen; the southern, by the florin or gulden, divided into kreutzers. Yet in the
actual coinage there are both thalers and florins, of various values, all over Germany.
Another general remark is, that since the diet of 1559, the conventions for equalizing
the coin have confined their attention to the silver, as the more important currency ;
taking no notice of the gold. Nevertheless they have copied after each other very
much in this respect, maintaining the above distinction of north and south. It is
from the upper states only, that the ten-thalers issue ; the lower countries coin ducats
chiefly.
We shall first give some details of the gold coinage, and explain afterwards the
provisions of the three conventions for adjusting the silver moneys.
Gold Coins. At the diet of Augsburg, in 1559, two standards were recognised
for gold coins of the empire. The first was 18£ carats fine, at which 12 florins, 36
maximilians, or 24 carolins, were coined from a mark weight. This coinage was
discontinued about a century ago, and will not be noticed further. The other
standard was 23§ carats, or 986 thousandths fine ; and from a mark of such gold, 67
ducats were to be coined — equal to 53-87 troy grains per ducat.J This coinage is
continued in Austria and other southern states. Having also been adopted by many
* Dr. Becher sums up the states actually coining money at the date of 1771, as follows : besides the Emperor, there
were seven electors, thirteen spiritual princes, twenty-five temporal princes, sixteen barons, and six free cities ; in all
sixty-eight. (Oeslerreich. Munzw., Vienna, 1838, vol. i.)
f The fiftieth degree of latitude affords a pretty correct line of demarcation.
I According to Kelly, the Cologne mark is equal to 3608 troy grains at Hamburg, and 3609 in Germany generally.
Bonneville rates the mark at 233'864 grammes. The mint convention of 1838 declared its equivalent to be 233855
grammes. This would correspond to 3609-5 troy grains.
GERMAN Y.
59
other nations, the ducat may be considered as one of the universal coins. Its nominal
value, in the north of Germany, is 2| rixdollars of account ; in the south, it is equal
to 2 crowns, or 51 florins ; in Austria, 4J florins. All gold coins however are at a
premium against silver.
A third standard originated about the year 1740, in Brunswick, and is now in
general use in the northern states. The fineness was at first 21 § carats (903
thousandths), but afterwards was reduced to 2U carats (896 thousandths); at which
rate there are coined from a mark weight, 17i pieces of ten-thalers, 35 pistoles, or
five-thaler pieces, and 70 half-pistoles. This is equal to 206-26 troy grains to the
ten-thaler piece; but the best specimens do not actually weigh more than 205
grains.
Since 1819, gold pieces of ten and five gulden, nine-tenths fine, have been coined
in Baden.
Silver Coins. These have been the subject of regulation at three conventions,
held within the past century and a half. The first was at Leipsic, in 1690, and the
standards then adopted are usually distinguished as the Leipziger-fuss, or basis of
Leipsic. This convention was influential only in the northern states. The second
was held in 1753, and although only Austria and Bavaria were represented, the stan-
dards were gradually adopted by almost the whole confederation. They are commonly
known as the convention basis. The third was a partial convention, held in 1837,
the articles of which were adopted, with others superadded, at a general convention
in 1838, held at Dresden. At this last meeting there were envoys present from all
the states except Austria, Hanover, Brunswick, and a few of less note.
The following schedule exhibits the various denominations of money, and their
legal standards, as adopted at the respective conventions ; together with the kronen-
thaler or crown dollar, and florin of the southern states, coined since the beginning of
the present century. It may be here stated, that the standards of the recent
convention were to take effect from January, 1839, and to be established as the sole
standards within two years thereafter. The agreement is binding until 1858; after
which it may be prolonged by terms of five years, unless a notice to the contrary has
been given, two years previously, by any of the parties. The coinage under this
convention has already become extensive, and the system bears the marks of per-
manency.
60
GERMANY.
DENOMINATION.
WEIGHT.
FINENESS.
THOUS.
VALUE, AT
riECES TO A
COL. MAES
TROY WT. OF
EACH PIECE.
FULL WEIGHT
AND FINENESS.
D. C M.
FINE.
GKS.
Leipsic
" Specie thaler
9
451-1
889
1 08
rate, <
Sp. florin, zweydritielstUck*
18
Various.
Various.
54
1690.
- Thaler of account (not a coin)
12
81
- Specie thaler
10
433-2
833
97 2
Convention
Specie florin
20
216-6
833
48 6
rate,
Thaler of account
13*
. . .
72 9
1753.
Half florin ....
40
108-3
833
24 3
- Twenty kreutzers
60
103-2
583
16 2
Crown of southern states
Q 8
456
872
1 07 4
Florin do. .
24
200-6
750
40 5
r Two thaler, or 3| florin piece
7
572-9
900
1 38 9
Thaler ....
14
343-8
750
69 4
Convention
Two-third thaler
21
229-2
750
46 3
One-third thaler .
42
114-6
750
23 1
rate,
One-sixth thaler .
96
72-2
521
10 1
Florin ....
24J
163-7
900
39 7
1837-38.
Half florin ....
49
81-8
900
19 8
One-tenth florin (6 kr.)
270
40
333
3 6
- One-twentieth florin (3 kr.) .
540
20
333
1 8
* Called zweydrittel, or two-third piece, because it was two-thirds of the dollar of arccount, though only half of the
specie dollar. This piece was sometimes coined of fine silver, sometimes only three-fourths fine ; the weight being
varied accordingly.
In respect to this whole table, it will be understood that these are the legal, not the actual weight, fineness, and
value ; which last are to be sought under the respective countries.
GREECE.
61
GREECE.
Hellas.
After a revolutionary struggle of nine years, this country was emancipated from
Turkish rule, and became (1829) an independent nation. Its form of government
was not settled until 1833, when Otho of Bavaria was called to the throne, which he
still occupies. A system of coinage was decreed in the same year, and coins were,
in accordance therewith, immediately issued.
The gold coins are the pieces of 40 and 20 drachmai, or drachms ; but as yet, only
the latter has been struck. The legal fineness is nine-tenths ; the weight of the 20
dr. piece is 5-776 grammes, or 89 troy grains.
The silver coins are the pieces of five, one, one-half, and one-fourth drachme.
The fineness is nine-tenths ; the weight, 4-477 grammes, or 69 troy grains to the
single drachme — the others proportional. The drachme* is the unit of accounts,
and is divided into 100 lepta. It is evidently founded upon the ancient coin of the
same name, being of about the same value. Probably some reference was had also
to the Spanish dollar, which by the tariff is made current at six drachmai.
Various foreign coins are legalized at certain rates, such as the five franc piece of
France, at 5-58 dr., the Austrian rixdollar at 5-78, the Holland ducat at 13, &ct
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GRS.
FINENESS.
THOES.
VALUE.
D. C. M.
20 drachm
1833
Otho.
89
900
3 45
5 do.
1833
do.
345
900
83 6
Drachme
1832-33
do.
68-5
902
16 6
Half do.
1833
do.
33-5
902
8
Quarter do.
1834
do.
17
902
4 1
* Dr. Arbuthnot deduces S(*xn>> from ipay/ni, a handful; "or as you would say, a handful of six oboli." {Ancient
Coins.)
t Specimens of the coinage, with details concerning them, were obligingly furnished by our Consul at Vienna, Mr.
Schwarz.
16
62
GUIANA.
GUIANA.
This region of country, lying on the northern coast of South America, is at present
divided into three colonies, belonging to Great Britain, Netherlands, and France,
respectively.
British Guiana, or Demerary. The basis of moneys in this colony was, until
recently, the guilder, divided into 20 stivers. But by an ordinance of February, 1839,
it was "deemed advisable to establish dollars and cents, as the denomination of
moneys of account of British Guiana, in the place of guilders and stivers." Three
guilders were declared equal to the dollar.
Silver coins have been struck at various times by the British government, for this
colony. The denominations are of three, two, one, one-half, one-quarter, and one-
eighth guilder.
SILVER COINS.*
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GE3.
FINENESS.
THOUS.
VALUE.
D. C. M.
Doll, of 3 guilders .
1809
George III.
359
824
79 7
2 guilders
1809
do.
238
825
52 9
3 do. .
1816
do.
359
825
79 8
1 do. .
1816
do.
119
825
26 4
do. .
1832
William IV.
119-5
819
26 4
Half-guilder
1836
do.
59-5
819
13 1
Quarter-guilder
1836
do.
30
819
6 6
In Dutch Guiana, (Surinam,) there was formerly a currency of small silver coins,
but these have been displaced by notes of the West India Bank, for ten, fifteen, and
twenty-five cents. These are received for colonial dues, but are much below the par
value. Thus, in September, 1839, good bills on Holland at ninety days, were from
ten to fifteen per cent, advance, and specie from twelve to seventeen per cent.t
* For specimen coins, with statements, we are indebted to Moses Benjamin, Esq., U. S. Consul for British Guiana,
t This information is due to the U. S. Consul at Surinam, Thomas Trask, Esq.
HANOVER. 63
We can give no satisfactory information as to the currency of French Guiana.
.Some small colonial coins are used there, but apparently none of recent emission.
Between this and the adjoining colony, the commercial restrictions are so great that
it is scarcely known, in the one, what is the currency of the other.
HANOVER.
The dominions of Brunswick were divided, in 1559, into the two branches of
Wolfcubuttcl and Hanover. They have ever since been separate governments, with
dillerent systems of coinage ; but the title of Duke of Brunswick and Luneburg has
been, until recently, maintained by the reigning princes of both sides ; which makes
some confusion in the study of their coins. It was not until the reign of George IV.
that the name of Hanover appeared on the coins at all. It was then joined to the
old title ; but on the accession of William IV., the simple legend King of Hanover
was adopted, and has so remained. Any difficulty, however, will be removed by
considering, that the Elector or King of Hanover has also filled the throne of Great
Britain, from George I. to AVilliam IV. — 1714 to 1838. The names of the Bruns-
wick princes are diflerent from those of the English monarchs. (See Brunswick?)
Gold Colns. Hanover was one of the last states which disused the old gold
gulden, of 72 to the mark. (See Germany?) None, however, appear to have been
coined since 1755.
The ducat, coined at the usual standards of the German empire, seems to have
been disused since 1776.
The present gold coins are the 10, 5, and 2| thaler pieces ; formerly coined at 35,
but now at 35^ pieces of 5 thalers to the mark, 21^ carats fine. There is no perma-
nent value of these coins, as compared with the silver; but the minister of finance
has power to fix, from time to time, the value at which the government will receive
the same in lieu of silver.
It will be seen by the ensuing tables, that the coinage of George III. and George
IV. falls below the usual fineness, by one-half per cent. This deficiency was ascer-
tained here by repeated assays ; it was known also at Hamburg, from whence the
bullion was chiefly derived, and had the effect to divert the supply to the mints of
Brunswick and Denmark. It is through the constant intermixing of these inferior
pieces of Hanover, that the reports upon German gold are kept low, as well as
unsteady, at this mint. Since the accession of William IV., or at least since 1835,
the evil has been remedied.
64
HANOVER.
Silver Coins. This country did not adopt the basis of the German convention of
1753. As late as 1766, specie-thalers of the Leipsic rate were coined. Since that
date, there have been coined florins, or tivo-thirds pieces,* of 24 marien-groschen,
equal in value to half the Leipsic dollar, and usually of fine silver, nearly ; though at
one time the fineness was reduced to three-fourths (750 thousandths), and the weight
, increased proportionally. Pieces of four marien-groschen were also coined from fine
silver. Since 1834, Hanover has adopted the Prussian standard, of 14 thalers to the
fine mark ; the thaler being divided into 24 good-groschen. They are, however, of
fine silver, and not three-fourths, as in Prussia/!" The Leipsic florin is still continued ;
and there are, besides, pieces of 4 groschen, or one-sixth thaler, 2 groschen, 1
groschen, 6 and 4 pfennig.
The mines of the Hartz mountains are stated to produce, on an average of ten
years past, about 10 marks of gold, and 50,000 marks of silver annually. The
Rumelsberg mine, which is the joint property of Hanover and Brunswick, yields
annually 10 marks of gold, and 4000 marks of silver.^
GOLD COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. 31.
Ducat
1776
George III.
53-5
993
2 28 8
Pistole, or 5 thaler .
1303
do.
102
896
3 93 6
10 thaler
1813-14
do.
204-5
890
7 83 8
5 thaler .
1813-14
do.
102
890
3 91
10 thaler
1822-30
George IV.
204-7
890
7 84 6
do. .
1835-36
William IV.
204-7
895
7 89
do. .
1839
Ernest Augustus.
205
895
7 90 2
* That is, two-thirds of the thaler of account, as settled by the Leipsic convention of 3690. (See Germany.}
t Silver without alloy is commonly thought unfit for the purposes of coinage; but as it is brought in that state direct
from the Hartz mines, it seems to be considered expedient to work it up in its original purity.
I We are indebted to John Cuthbert, Est*., U. S. Consul at Hamburg, for materials in framing the present article.
HANSE TOWNS.
65
SILVER COINS.
DENOMINATION".
DATE.
KEIGN.
WEIGHT.
GRS.
FINENESS.
TIIOUS.
VALUE.
D. 0. JI.
Speeie-thaler
1766
George III.
449
896
1 08 3
Florin
1783-97
do.
201
995
53 8
do. .
1801
do.
266
753
54
do. .
1807-14
do.
201
995
53 9
4 mar. gros.
1776
do.
34
995
9
Florin
1825
George IV.
202
996
54 2
Thaler .
1834
William IV.
259
997
69 6
do. .
1838
Ernest Augustus.
259
996
69 5
Florin
1839
do.
204
996
54 7
HANSE TOWNS.
Of this ancient league of free cities, three are still using their right to coin money.
These are Bremen, Frankfort, and Hamburg.
Bremen reckons by dollars of 72 grote ; the groten being subdivided into 5 schwaren.
In 1753, the principal coin was a silver piece of 48 grote, weighing 269 troy grains
at 750 thousandths fine, and therefore worth 54-3 cents. Since that date, until 1840,
it does not appear that there has been any coinage. In 1840 new pieces were
issued, of 36 gr. at 15 loths 14 grains, or 986 thousandths fine; 12 and 6 gr.
at 11 loths 15 grains, or 740 thousandths fine; and 1 groten, at 4^ loths, or 281
thousandths fine. The piece of 36 grote weighs 134i grains troy, and being of full
standard fineness, is worth 35-7 cents. Hence the new groten is of less value than
the old one, and is almost interchangeable with our cent* (See Plate XIII.)
Frankfort reckons, with the southern German states, in florins or gulden of 60
kreutzers.
As late as 1796, ducats were coined, of the usual weight and fineness; but no
gold coinage seems to have been executed since that date.
* Letter of Marcus Derkhiem, Esq., late U. S. Consul at Bremen.
17
66
HANSE TOWNS.
Of silver coins, the convention-dollar was the principal, of which, from 1763 to
1796, there are six different impressions. These, as usual, express on their face the
rate of coinage, " Ten to the fine mark." Their value in our money is 97 cents.
Frankfort was a party to the southern convention of 1837, at which the rate of
24£ florins to the fine mark was agreed upon. (See Germany?) Consequently, since
1838 there has been a new coinage of pieces of one gulden, one-half, six kreutzers,
three, and one kreutzer. The gulden weighs 164 grains, and is 900 thousandths
fine ; value, 39-7 cents. The six kr. piece, 39 grains, and 333 fine ; value 3-4 cents*
(Plate XIII.)
Hamburg. Accounts are kept in marks banco, but the coinage is in marks current.
Both are divided into 16 schillings.
The gold coinage consists of ducats, at the German rates, and valued at six marks
banco. A ducat of 1825 weighed 53-5 grains, and yielded 980 thousandths fine;
value, $2 25 7. The gold coins are rare, and intended rather for show (schaumiinze)
than for circulation.
In the silver coinage, the specie dollar of the Leipsic basis (see Germany) was
formerly the principal piece, but it has been discontinued since 1764. It was
reckoned at 3 marks banco, or 3| marks current. Since that date, and until 1808,
there have been pieces of two marks current, one mark, eight and four schillings.
Since 1833 there are new pieces of one schilling, half-schilling or sechsling, and
quarter, or dreiling.
The following are the legal weights and fineness, of silver coins :t
DENOMINATION.
PIECES TO A MARK.
FINENESS.
THOUS.
TROY GRS. TO
EACH PIECE.
Double mark, 32 schilling
12f
750
283
Single mark, 16 schilling
25J
750
141'5
8 schilling ....
42>
625
85
4 schilling ....
™*
562
47
2 schilling ....
119
437
30-3
Schilling ....
216
375
16-6
Sechsling ....
304
250
11-8
The weights and fineness, as far as tried here, conform very nearly to those rates.
* Letter of Ernest Schwendler, Esq.., U. S. Consul at Frankfort.
t For specimen coins, with statements, we are indebted to the correspondence of John Cothbert, Esq., U. S.
Consul at Hamburg.
HESS E.
67
Hence the mark current is worth 28i cents. This would make the par of the mark
banco, in our money, 35-6 cents. The ducat valuation gives a result of 37-6 cents.
I in? as at present bar silver is sold at 27;| marks banco, for a Cologne mark tine,
the true par may be estimated at 35 cents, precisely.
HESSE.
Tins ancient principality was divided in the sixteenth century, and subsequently a
third branch was set off. These divisions are usually specified by annexing the name
of the capital town ; as, Hesse-Cassel, Hesse-Darmstadt, and Hesse-Homburg. The
coins however are only to be distinguished by the titles of the sovereigns ; the first
being Elector (Kwrfursf), the second Grand Duke (Grosherzog), and the third
Landgrave (Landgrqf), of Hesse. This distinction does not date farther back than
1803, the year in which Hesse-Cassel was erected into an electorate ; but the
coinage of the other two states, before that date, will not require any notice in the
present work.
Hesse-Cassel. The gold coins of the electorate are pieces of 10 and 5 thalers,
coined at the usual rate of those denominations. (See Germany.)
In the silver coinage, the convention-thaler and its divisions were adopted ; but in
1778, a new thaler appeared, three-fourths fine, and equal to the thaler of account in
value ; in 1789, this was displaced by another thaler, of finer metal, but reduced in
weight, so as to make it equivalent to the Prussian thaler, and somewhat less
valuable than the former ; finally, in 1819, the Prussian standards were adopted,
and there has since been no alteration.
This state was a party to the general mint-convention of 1838.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOCS.
VALUE.
D. C. M.
Ten thaler
1773-85
Frederick II.
202
890
7 74 2
Five thaler
1771-84
do.
101
893
3 88 4
do. .
1788-99
William IX.
101-5
892
3 89 9
do. .
1815-17
William I.
101-5
894
3 90 8
68
HESSE.
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Specie-thaler .
1766
Frederic II.
430
836
96 8
Half do. .
1760-61
do.
215
836
48 4
Thaler .
1778
do.
360
750
72 7
do. .
1789
William IX.
291
885
69 4
do. . .
1819
William I.
340
750
68 7
Half thaler
1819
do.
170
750
34 3
One-third thaler
1824-27
William II.
130-5
660
23 2
One-sixth thaler
1823-30
do.
81
505
11
Thaler .
1832-37
William II. and Fred. Will.
341-5
748
68 8
One-sixth thaler
1833-36
do.
82
525
11 6
Hesse-Darmstadt, being one of the southern states, reckons by florins. There
appears to have been no gold coin since 1753, nor silver, earlier than 1809. At that
date convention-thalers were coined, and afterwards crowns (kronen-thaler'), at the
usual rates. Since the conventions of 1837-8, pieces of 2 thalers or 3 J gulden, and
of one and one-half gulden have been issued.
SILVER COINS.
DENOMINATION.
Specie-thaler
Crown
do.
Gulden .
Half gulden
Two-thalers
1809
1825
1836
1838-39
1838
1839
REIGN.
Louis I.
do.
Louis II.
do.
do.
do.
WEIGHT.
FINENESS.
GRS.
THODS.
432
833
455
875
456
875
164
900
82
900
574
900
VALUE.
D. C. 31.
96 9
1 07 2
1 07 5
39 8
19 9
1 39 1
Hesse-Hombtjrg is the smallest branch of the Hessian dominions. Only a single
specimen of its coinage has appeared here, a gulden of 1838, coined at the new
standards, and equal to the same piece of Darmstadt.
HINDUSTAN. 69
HINDUSTAN.
The monetary unit of the old Mogul Empire was the sicca rupee, a silver coin of a
high fineness, and nearly equal in value to our half-dollar. Its origin is not known,
but it has been traced back with trivial variation, to the thirteenth century* The
prefix of sicca signifies a certain weight, used for precious metals, equal to 7i dwts.,
or more strictly 179| troy grains. The gold rupee, or mohur, was of the same
weight. Since the decline and fall of the empire, the commencement of which may
be dated at the invasion of Nadir Shah from Persia, in 1739, various other kinds
of rupees have appeared, The native viceroys, learning from that event how
weak was the power to which they professed allegiance, soon threw off the yoke,
and the whole territory was broken up into numerous petty sovereignties. The
native princes coined their own money, and in general maintained an adherence
to the sicca weight ; but there was no rule for fineness, and the debasement in many
cases was considerable. Hence arose the extensive and diversified catalogue of local
coins.t But without farther notice of these, it becomes necessary to explain how
there originated three kinds of currency in the British possessions ; which will
best be attained by treating separately of the three presidencies of Bengal, Madras,
and Bombay. The uniform system adopted in 1835 will also be noticed.
Bengal, or Calcutta. It does not appear that there was any coinage by the
Company in this region, earlier than 1762. Two years before that date, Shah
Alum, the last of the Moguls, was placed in the imperial throne at Delhi, which had
then become almost an empty honour. He was soon obliged to succumb to the
Company's protection, and receive a pension to support his nominal rank. But
during his life, and what may seem strange, long after his death,:): the coins of the
Company, struck at Morshedabad and Calcutta, punctiliously affirmed that " He who
is the shadow of divine favour, the defender of the religion of Mahomed, the Emperor
Shah Alum, coins money for the seven climates."§ This is the only presidency in
which the sicca rupee continued to be coined; and it is only since 1835, that the
* See the whole train of coinage, well displayed, in Marsden's Numismala Orientalia.
t By tables of assays made at the Bombay mint in 1826, it appears there were then current twenty-five varieties
of gold pagodas, and seventy of silver rupees, besides foreign coins. Kelly, Oriental Metrol. 1832.
| This occurred in 1806.
} " The seven climates" is meant for the whole world. This inscription is in the usual lofty style of Eastern
potentates.
18
70 HINDUSTAN.
Bengal rupee has been lowered, to make it uniform with those of Madras and
Bombay. Properly speaking, there is now no sicca rupee coined.
In 1793, the mint proportions were fixed for Bengal at the following rates:
The gold mohur to be 992-5 thousandths fine, and to weigh 190-9 troy grains.
The sicca rupee to be 979-2 thousandths fine, and to weigh 179-7 grains.
The parts of these coins were to be in proportion.
These are called the coins of the nineteenth sun, as if struck in the nineteenth
year of Shah Alum's reign; and the figures 19 are conspicuous on their face.
However, it is well known that the East India mints paid no attention to dates,
inasmuch as the issues of many years still bore the same figures ; indeed, the object
was to establish the idea of uniformity, which was thought to be better conveyed by
an unchangeable device.
In 1818 there was a change of standards, though not of value ; the object simply
being to render the coinage more fit for its purposes, by hardening it with an
increased alloy. The rates then established were as follows :
The gold mohur to be eleven-twelfths (916-7 thousandths) fine, and to weigh
204-7 grains.
The sicca rupee to be of the same fineness, and to weigh 191-9 grains.
At the mints of Furruckabad and Benares, in the same presidency, rupees were
struck at sundry times previous to 1820, for local currency; they were nearly of the
same value as the rupee of the present coinage*
The last change in the Bengal standards, and one by which the moneys of all
British India are rendered uniform, was by the act of August 1835.t This law
provides that the weight and fineness of the gold mohur and silver rupee shall be the
same, viz. 180 grains in weight, \Hhs fine. The gold piece is equivalent to fifteen of
the silver. The smaller coins are, in gold, a ten rupee piece, or § mohur, and a five
rupee piece. A few double mohurs have also been struck. The silver coins, besides
the rupee, are the double, half, and quarter rupee. All the pieces are of the same
fineness, and proportional in weight. By this standard, which is likely to be
permanent, the Bengal rupee was reduced from 47-3 cents, to 44-3 cents, of our
money.
In stating accounts, the rupee, at Calcutta and Madras, is divided into 16 annas,
and the anna into 12 pice.% For more minute subdivisions, the natives use sea-
* Kelly's Cambist.
f The facts in relation to the new coinage, with some other particulars, have been obligingly communicated by
Dr. Thomas Horsfield, librarian at the East India House, London ; who procured them from H. H. Wilson, Esq., late
assay master of the mint at Calcutta. Specimens of the same for assay, were furnished by W. G. Stearns, Esq of
Boston, whose attentions we have before had occasion to notice.
\ The singular is pie, an Anglicism of peisah. It is a very small copper coin.
HINDUSTAN. 71
shells, called coicries; of which 160 arc reckoned equal to one anna. But at
Bombay, unless there has been a recent change, the rupee is divided into quarters,
and each quarter into 100 reus*
Until the reign of William IV., the old Persian inscriptions and dates were kept on
the coins ; but the new currency exhibits the heads of William and of Victoria, with
legends in English, and the date of the Christian era.
Madras. In 1620, the British Company obtained a settlement at Fort St. George,
on the Coromandel coast, with certain commercial privileges, and amongst them, the
authority to coin money. This settlement has now grown to the presidency of
Madras ; and besides other tracts of country, includes the former dominions of
Tippoo, Sultan of Mysore.
The coins of Madras bear the designation of Arcot, a neighbouring city where
there was an imperial mint ; and no doubt the early standards were based upon those
of that city. In the old system, the coinage consisted of the star pagoda in gold, with
rupees and fanams in silver. The pagoda was of ducat weight (52:} grains), and
eight-tenths fine. The rupee was of sicca weight (179§ grains), though it after-
wards declined to 176-4 grains, at a fineness of 940 thousandths. The fanam was a
very small thick silver coin, of which 12 were reckoned to the rupee, and 42 to the
pagoda.
In 1811 a coinage from Spanish dollars took place, consisting of double and single
rupees, halves and quarters, and pieces of 1, 2, 3, and 5 fanams. This rupee
contained the same amount of fine metal, but with an addition of 10 grains of alloy
to the weight. Pieces of half and quarter pagodas, in silver, were also then coined.
The half piece weighed 326-7 grains troy, and was equal in value to half the star
pagoda.t
In 1818 new mint regulations were adopted, by which the star pagoda was
displaced, and the gold mohur substituted ; and both the mohur and rupee were
fixed at 180 grains in weight, and Tsths fine. This is the proportion of the new
coinage of 1835, above mentioned.
Various other kinds of coins have been current in this presidency, especially the
pagodas of Pondicherry and Porto Novo, which will be further noticed in the tables.
* It will be useful to add, that in India, when large sums are expressed by figures, the form is different from ours.
There, 100,000 rupees are called one lac, and 100 lacs make one crore. Therefore, while we would write Rs.
112,644,300, they divide it thus: Rs. 11,26,44,300; that is, eleven crores, twenty-six lacs, forty-four thousand, and
three hundred.
t Kelly's Cambist. Marsden takes no notice of the rupees of 1811, but merely notices the pagoda and its divisions,
which, he says, were struck for Ceylon. They bear English characters, and have the representation of a pagoda or
temple.
72 HINDUSTAN.
Bombay. The British Company obtained this settlement by cession from the
Portuguese, in 1661 ; and in 1716 began to coin money. An agreement was made
with the neighbouring Nabob of Surat, (at what date we know not,) that the rupees
of that city and of Bombay, should be the same in value. Hence the Company's
coinage, in this presidency, has borne the imprint of Surat, with the usual inscriptions
in the Persian character, until within a few years. It is stated that the nabob, in
violation of his engagement, soon began to debase his coin ; the effect of which was
to draw away the Bombay coins to Surat, where they were recoined at a reduced
rate. The Company's mint was thus compelled to suspend operations for about
twenty years ; but in 1800, new mint regulations were established, conformable to
those of Surat, by which the gold mohur and silver rupee were to be of the weight of
179 grains, and 920 thousandths fine. No alteration was made in this standard until
1824, when to conform to the Madras rates, the weight was increased to 180 grains,
and the fineness reduced to 916| thousandths. This was an addition to the rupee of
about one-third of a cent in our money.
It appears then, that the standard, now uniform, for all British India, originated at
Madras in 1818, and was adopted at Bombay in 1824, and by Calcutta in 1835.
Since the disuse of native characters on the coins, there is no designation by
which to distinguish between the issues of these three mints*
It is understood that the mints of some of the native princes are still in operation.
The most important are those of Lucknow, Hyderabad, and Nagpore ; but even of
these, the coinage is of limited circulation. The amount of coinage of British India
and the states in connexion with it, for many years prior to 1 8,34, is stated to have
been three crores (thirty millions) of rupees annually. There are no returns at hand
of a later date.
Gold dust is obtained by washing the soil of some of the feeders of the Indus, in
the Himalaya mountains ; but the amount is trifling, and the business is very
irregularly prosecuted, as it affords little profit. The chief supply of gold, in India,
is from South America, and from Sumatra and other parts of the Malayan Archi-
pelago. (See Plate XVI.)
* The operations of the Madras mint have been suspended for some eight years past, though they are now about to
be resumed.
HINDUSTAN.
73
GOLD COINS.
DENOMINATION.
DATE.
WHERE COINED.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Muhur .
1184(1770)
Bengal.
190
982
8 03 5
do.
1202 (1787)
do.
191
989
8 13 4
Half mohur
1202
do.
95
984
4 02 6
Moliur .
(1793)
do.
191
993
8 16 8
do.
(1818)
do.
204-7
917
8 08 4
do.
(1818)
Madras.
180
917
7 10 9
do.
(1818)
Bombay.
179
920
7 09 2
do.
(1835)
British India ; William IV.
180
917*
7 10 9
Star pagoda
None.
Madras.
52-5
800
1 80 9
Pondicherry pagoda
None.
Pondicherry.
52-5
708
1 60 1
Porto Novo pagoda .
None.
Portuguese Company.
52-5
740
1 67 3
SILVER COINS.
DENOMINATION.
DATE.
WHERE COINED.
WEICHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C M.
Sicca rupee .
None.
Mogul Empire ; Shah Alum.
177
938
44 7
do.
1197(1782)
do. struck at Arcot.
177
958
45 7
do.
None.
Bengal ; 1 9th sun.
179
980
47 2
do.
(1818)
do.
192
920
47 6
Rupee .
(1818)
Bombay.
179
920
44 4
do.
(1824)
do.
180
917
44 5
do.
(1818)
Madras.
180
917
44 5
New rupee
1835
British India ; William IV.
180
917
44 5
Half do.
1835
do.
90
917
22 3
Quarter do.
1835
do.
45
917
11 1
* Fineness assumed.
19
74
JAPAN — MALAY ARCHIPELAGO.
SILVER COINS (continued).
DENOMINATION.
DATE.
WEEKS COINED.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. 31.
New rupee
1840
British India ; Victoria.
180
917
44 5
Quarter pagoda
1811
Madras.
164
900
39 8
Double fanara
None.
Southern India.
28
909
6 9
Fanam .
None.
do.
14
920
3 5
Rixdollar
1821
Ceylon ; George IV.*
140
JAPAN.
The coins of this empire are rarely seen here. They are of peculiar shapes, some
being oval plates, with a few characters stamped on them, others being in the form of
a parallelogram, of which a specimen is shown in Plate XVI. The gold piece called
itzebo, weighing from 51 to 69 grains, is reckoned to be worth two dollars. The
nandio-guin, of silver, weighs 160 grains, about 92 per cent, fine, and therefore worth
forty cents. Most payments are made in silver ingots, of seven ounces or less, and
eleven-twelfths fine. There are also brass cash, similar to the Chinese, from which
they cannot easily be distinguished.
A Spanish dollar is valued at 70 to 74 candareens, of which 100 go to a silver tale.
MALAY ARCHIPELAGO.
Of this extensive group of islands, Java and Sumatra are to a considerable extent
under the dominion of the Netherlands, and the Philippines under that of Spain.
On some of the other islands there are Dutch settlements.
The currency consists chiefly of Spanish or Mexican dollars, Dutch ducatoons, and
rupees of Hindustan. There appears to be no native coinage of recent date. Since
1783, there have been gold and silver coins struck by the European companies, for
Java. The first series was of the Holland Company, and was continued until their
* Not assayed.
M A LAV A R C II I P E L A G O.
75
possessions were captured, in 1811, by the English. A second series then appeared;
bearing, like the former, inscriptions in Oriental characters. In 1816 the island was
restored to the Dutch ; and since that date there has been a third system of coinage,
dillbring from the preceding in the denominations and standards, as also in the im-
pressions, which are in the Dutch language, and Roman character.
There seems to be a coinage of dollars specially for the Philippine Islands. A spe-
cimen tried here, bearing the word Manila, and date of 182.5, weighed 402 grains;
but from its specific gravity was judged to be not more than seven-eighths, or 833
thousandths fine, which is greatly below the Spanish standard. This piece was worth
about 90 cents.
The Philippines were the entrepot of Spanish trade between Acapulco and Eastern
Asia ; it is stated that 400 millions of dollars in specie have reached there, during an
intercourse of 250 years*
The island of Sumatra is productive of gold, but to what extent is not known. The
export from Singapore to England, in one year ending in 1838, of gold dust evidently
derived from Ophir, was eight peculs, or 15,600 troy ounces ; probably worth 270,000
dollars.t (See Plate XVI.)
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
BY WHOM COINED.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Gold rupee
1783
Dutch government of Java.
240
758
7 83 5
do.
1796
do.t
239
706
7 26 7
Half do.
1801
do.
123
779
4 12 7
Gold rupee
1814
English E. I. Company.
118
Silver rupee .
1783
Dutch government of Java.
200
833
45
do.
1796
do.
200
663
35 7
do.
1814
English E. I. Company.
208
Guilder
1820
Dutch government.
166
898
40 2
Ducatoon
1766-1804
do.§
500
938
1 26 3
Guilder
1839
do.||
155
944
39 4
Half do.
1826
do.
83
898
20 1
Quarter do. .
1840
do.
62-5
569
9 6
* Britisli Col. Mag., 1840. t Jocelyn's Chinese Expedition, 1841.
X There was much variation in the weight and fineness of these issues.
{ Coined for the East India trade generally.
|| This is according to the new standards. (See Netherlands.) We are indebted for specimens, &c. to J. W. Vanden-
buoek, Esq., U. S. Consul at Amsterdam.
76 MAURITIUS — MECKLENBURG.
MAURITIUS.
This island, an important entrepot of trade in the Indian Ocean, was under French
dominion for nearly a century previous to 1810. In that year it was taken by the
British, and has since remained in their possession.
In 1810 a silver coinage of ten-livre pieces was struck by the French authorities
for this island and the neighbouring one of Bourbon. A specimen weighing 414
grains, proved 833 thousandths fine, and was therefore worth 92£ cents ; making the
colonial livre 9J cents, or one-half of the national. The legend on the coin was
lies de France et Bonaparte. A coinage has since been executed at London for this
island, said to consist of silver pieces of the same weight and fineness as the Spanish
dollar and its divisions.
Accounts are kept in sterling money by the colonial government, and in dollars
and cents by the merchants. Formerly the dollar of ten livres* above noticed was
the unit, and was divided into 200 sols. From the tariff of moneys it would seem
that the coins of Hindustan, England, France, Spain, Austria, and the United States
are familiarly known there, and constitute the bulk of the circulation.
MECKLENBURG.
This country, situated in the north of Germany, is divided into the two branches
of Schwerin and Strelitz. The former is the most considerable, and it is only of this
division that we have seen specimens of coinage.
The gold coins of Mecklenburg-Schwerin consist of the ten and five thaler pieces,
coined at the usual rate of those denominations. (See Germany.)
This grand duchy appears to have had no part in either of the German conven-
tions of 1753 and 1838, for the equalization of silver coins. The Grand Duke has
adhered to the old Leipsic footing, and continues to coin florins, or two-third pieces,
either of fine silver or three-fourths fine, but equal in value. The smaller coins are
pieces of 8, 4, and 1 schilling. The money of account is the thaler, divided into 3
marks, or 48 schillings.
* In Kelly's Cambist, this piece is called a dollar of ten livres, and it is said to be equal to the Spanish dollar, in
currency. Probably its fineness is supposed to be of Spanish standard.
M E X I C O.
77
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
TUOOS.
VALUE.
D. C. M.
Ten thaler
1831
Frederick Francis.
204-5
896
7 89 1
Florin
1790-1808
do.
265
753
53 7
do. .
1839-40
Paul Frederick.
203-5
988
54 1
Eight schilling
1827
Frederick Francis.
103
440
12 2
MEXICO.
The coinage of Mexico may be said to possess a more general interest than that
of any other country, emanating as it does from the great mining region which
chiefly supplies the world with silver. This circumstance would, indeed, add no
importance to the coinage, if it were the national policy to export unwrought
bullion ; but, on the contrary, a large share of this is immediately made into coin,
and finds its way abroad in that shape.*
During the long period that this country was held by Spain, it contributed, more
than all the other Spanish possessions, to the supply of the famous pillar dollar, so
well known in the four quarters of the globe. Twenty years ago this coinage ceased,
and the dollars of independent Mexico, Peru, and Bolivia, maintaining the same
character, have supplied its place in commerce. The pillar dollars have become
scarce ; and those that remain, being much worn, are of less value by tale than the
new coinage, though they may be more esteemed in trade. The great bulk of the
coinage, bearing the insignia of the King of Spain, was in fact American ; and the
particular colonies from which it issued, may be known by the mint-marks on
the coins. But being stamped with the royal name and effigy, it is properly to be
noticed under the head of Spain, up to the time of the separation of the old country
from the new. In the case of Mexico, this is the year 1822.
* Formerly the exportation of unwrought gold and silver was prohibited ; but of late years the restriction has been
removed.
20
78 MEXICO.
There is, indeed, a hiatus between the true Spanish and Mexican emissions, nearly
coextensive with the duration of the revolutionary war. It was in this transition
period, reaching from 1810 to 1820, that the well known hammered and cast dollars,
as well as the now forgotten Vargas and Morelos pieces were issued. Of these
irregular coinages some notice will be taken presently.
It was not until 1822, however, upon the accession of Iturbide as Emperor, that
the devices on the coin were so permanently and authoritatively changed, as to mark
the boundary line between the Spanish and the Mexican dollar or doubloon.
The reign of Iturbide lasted but one year, and only the mint at the capital issued
coins in his name. In 1824 the provinces were united into a federal republic, and
the legend Republica Mexicana has ever since appeared on the coins of all the mints.
The minting system of Mexico differs from that of other countries employing more
than one establishment. The national mint is at the city of Mexico ; but each
mining province has its own institution, subject to the general laws of the coinage,
but not to any supervision or control, out of itself. Such a system does not neces-
sarily lead to a difference in the value of the coins, nor is any difference made, in
commerce ; the issues of all the mints being current interchangeably, under the
general name of Mexican. However, a want of surveillance, or mutual understand-
ing, leaves an open door for departure from uniformity ; and upon numerous assays
of the dollars of the respective mints, it is ascertained that there are, or have been,
well-marked and characteristic variations. Where these lie, and what is the extent
of them, seems not to have been made public* It will be one object of the present
article, to state all our information upon that point.
The following are the locations of the Mexican mints, with the date of their
establishment, so far as known ; together with the distinguishing mint-mark of each,
which always appears in the legend, immediately before the date.
Mint of the city of Mexico, established in 1535. Mint-mark, M°.
Mint of Zacatecas ; appears to have commenced in 1810 ; mark, Zs.
Mint of Durango, 1811 ; mark, D°.
Mint of Guanaxuato, 1812; mark, G°.
Mint of Chihuahua, 1811 to 1814; recommenced in 1832; mark, CA.
Mint of Guadalaxara, 1814; mark, GA.
Mint of San Luis Potosi, 1829; mark, P1.
Mint of the state of Mexico, at Tlalpan ; the mint-mark of which is ME. Many
of the Spanish dollars bear this mark, but the mint appears to have been discontinued
* The works of Bonneville, Darier, and Kelly, were published before the Mexican coinage commenced ; and the
recent works of Andreits and Becher take no notice of the subject.
MEXICO. 79
for some years, and revived again in 1829; it is doubtful whether it has been in
operation since 1831.
in the gold coinage there is considerable irregularity as to fineness; thus a
specimen of Guanaxuato resulted 860 thousandths fine, and one of Durango 882.
But the general range of fineness is from 864 to 871, and 866 is found to be
the proper computation for a mixed parcel. This last is the usual report upon
doubloons of the mint of the city of Mexico, where most of the gold is coined. As
the gold coins are not often received here, and are of small circulation in comparison
with the silver, no further remark is necessary than to refer to the tables for various
assays.
The silver coinage, as already intimated, presents much irregularity both in weight
and fineness ; which will best be exhibited by remarks upon each mint.
Mint of Mexico. These dollars have always been among the best, though not
uniform in fineness. The ensuing tables show that from 1830 to 1834 the fineness
was 901 to 902 thousandths ; for a few years after, it rose to 903 and 906 ; but in
1840 fell to 900. The weight is usually full. As to the amount of coinage executed,
this mint, though at the capital, holds only the fourth place.
Zacatecas. The coinage of silver at this mint is nearly as great as that of all the
others combined. Consequently, this issue gives a controlling character to mixed
Mexican dollars ; in every parcel, not assorted, a large proportion of the pieces are
of Zacatecas. The fineness is inferior, ranging from 894 to 897. The weight is of
late exceedingly irregular ; dollars of 1840 have been found to vary from 392 to 440
grains, making a dilference of nearly 12 cents, or 1 real, between one piece and
another.
Durango. These dollars, though irregular, are of the best sort as to average
value. New pieces vary nearly a pennyweight from each other. The mint ranks
fifth as to the amount of coinage ; so that the pieces are not abundant.
Guanaxuato. The dollars of this mint occupy a medium rank as to value by
count. The weight is not well adjusted, though a quantity will give a good average.
The pieces occur very frequently in a promiscuous parcel, as the annual coinage
ranks second in amount.
Chihuahua. The dollars of 1832-34 were of good weight and fineness. From
that date to 1839 inclusive, we have seen no specimens. Those of 1840-41 are still
better than before, and are in fact the most valuable dollars in the market, yielding
nearly 103 cents each. But the amount of annual emission is the lowest in the list.
Guadalaxara. The coinage at this mint has been by far the most irregular of all.
Various assays of 1832 and 1835 yielded only 840, 870, 884 thousandths; making a
fluctuating value of 94 to 99 cents, at the usual weight of 416 grains, which they
80 MEXICO.
maintained. The presence of these dollars in deposits at the mint, tended very much
to depress the returns, and to make them unsteady. But from the year 1836 to 1840,
a remarkable change has taken place in them ; the weight is full and well adjusted,
and the fineness has been increasing from 893 to 904 thousandths ; so that now they
are among the best. We are not aware of the cause of this improvement, but the
effect of it upon the general character of Mexican coin has been beneficial. The
coinage at this mint is less in amount than that of any other, except Chihuahua.
Potosi* is the last mint to be mentioned; the coinage of which has been repeatedly
assayed here in distinct parcels, of the dates of 1835 to 1839. It has always been in
the first rank as to value, and is now in the third as to the amount coined.
From numerous returns of deposits made here for recoinage, it appears that a sum
of one thousand dollars, taken from ordinary circulation, and therefore depreciated
by wear, will yield about lOOli dollars in our money. The same amount, scarcely
worn, will be worth from 1003 to 1008 dollars. This estimate is without respect to
assortments of the different mints ; where this is done, the return may be forced to a
higher amount. It might be supposed, from the results in our tables, that the
average product would be greater than as above stated, and that one per cent, would
be a common gain. It would be so, were it not that the dollars of Zacatecas and
Guanaxuato are so much more abundant than the rest, and that occasionally an old
Guadalaxara piece, or a counterfeit, reduces the general result.t
Mexican dollars began to be recoined here immediately after their first appearance.
In 1823 the amount of $200,000 was deposited; in 1830 near two millions of
dollars; and the same in 1838. In fact, they form the larger part of our coining
material in silver.
The four classes of revolutionary dollars, already spoken of, require some further
notice ; the first two of them being still in the currency, though gradually disappear-
ing. The hammered and cast dollars bear the royal head ; the Vargas and Morelos
were coins of republican generals.
1. Hammered dollars. About the close of 1810, the communication between the
capital and the interior having been cut off by the revolutionary movements, it was
found necessary to establish mints at some of the chief provincial towns. These
could not be furnished with the requisite apparatus ; and consequently the coins were
shaped as well as they might be, and received their impressions with a hammer.:}:
* This must not be confounded with the famous mint of Potosi, in Bolivia, which has a different mint-mark, and has
been much longer in operation.
f Counterfeit Mexican dollars, many of them well executed, are but too abundant. They are noticed in Chapter IV.
on Counterfeit Coins.
J; Letter of Hon. Bernardo Gonsalez, Superintendent of the Mint of Mexico.
MEXICO. 81
It is from this circumstance that their name is derived; and they are recognised by
their beaten surface, and by the half-revealed legends and royal head. These pieces
arc often received along with the true Spanish dollars, by persons not skilled in them.
Nevertheless they are decidedly inferior, as well as irregular. The weight varies from
370 to 440 grains, making the enormous difference of 70 grains. The fineness
varies from 065 to 885 thousandths. Any individual piece may be worth from 86 to
105 cents; but the great majority are nearer 95 cents, which is the average. In
Mexico they are said to be current at six reals, or three-quarters of a dollar. Towards
the close of the war, these mints seem to have procured better machinery, and more
skilful managers ; at least, we find Spanish dollars of Zacatecas and Guadalaxara of
1821, of full weight and fineness, and well executed.
Hammered dollars were formerly received at this mint in considerable quantities,
but they are becoming scarce.
2. Cast dollars. These also are a revolutionary coinage, but in every respect
different from the kind just noticed. They are said to have been minted at
Chihuahua, in the years 1811 to 1813,* though some of them bear the mint-mark
M0., and the dates of 1804 to 1813. But these dates and marks are no proof of the
true time and place of their emission ; for it is evident that they are casts, and that
the moulds were made from any Spanish dollars at hand, whether they bore the head
of Carolus or Ferdinand. They are called cast or sand dollars from this circum-
stance ; and the impressions, though quite distinct, have a blurred and coarse
appearance, wanting the smoothness and sharpness of a stamped coin.t
The cast dollars differ excessively in weight ; we have observed the extremes of
364 and 496 grains. Their fineness is not so uncertain, and may be averaged at 916
thousandths, which is much above that of the best Spanish dollars. Their value,
therefore, ranges from 90 to 122 cents; the mean rate is 103 cents. These pieces
occasionally appear here in mixed deposits. An unpractised person would be likely
to reject them as spurious ; but as they are better than any other sort, a knowledge
of them is of some use. It is difficult to understand how the mistake occurred, of
making them so much finer than they ought to be, especially in a time of revolution,
when depreciation is more likely to be practised.
3. Vargas dollars. These are pieces coined at Sombrerete, by the republican
general Vargas, whose name is in the impression. They are of the dates of 1811
and 1812, and are struck with a hammer. Very few specimens are now met with.
Their weight and fineness will appear in the tables.
4. The Morelos dollars are the last variety to be mentioned. These were coined
* Letter of Mr. Gonsalez.
t Some metals, particularly iron, will receive a fine and sharp impression from casting; but silver and gold contract
while chilling in the mould, and therefore present an obtuse, imperfect appearance.
21
82
MEXICO.
by General Morelos, a patriot chief of the revolution. The pieces were cast in
moulds, and are sufficiently uncouth to be mistaken for Mexican antiquities, were it
not for the Christian date upon them. On one side is represented a bow, with the
single word Sud, indicating " the army of the south ;" on the other side only the
letters M0., 8 R., and the date 1812 or 1813. There was a complete series of these,
from the dollar down to the sixteenth. Their value is shown in the table ; but they
are now important only as curiosities.
The standards of Mexican coin are the same as those of Spain since 1 772 ; and
the legal fineness is always stamped on the piece. There are four denominations of
gold : the doubloon of sixteen dollars, the half, the quarter or pistole, and the eighth
or escudo. These should be 21 carats or 875 thousandths fine ; the weight should be
8£ doubloons to the mark of Castile* or 418 troy grains to the doubloon.
Of silver there are five denominations ; the dollar or peso, which is the piece of
eight reals; the pieces of four, two, one, and one-half real, the last being also called
a medio. Before the revolution there was also a half-medio, or Ad of the dollar.
These should be 10 dineros 20 granos, or 903 thousandths fine, and the dollar
should weigh the same as the doubloon.
In regard to the production of Mexican mines, there are some statistics and many
conjectures ; whatever we have to observe on this point must be deferred.f The
amount of coinage, for many years prior to the revolution, averaged nearly twenty-
three millions of dollars annually ; about one-twentieth being in gold. The annual
average is now only twelve millions.^
GOLD COINS.
DENOMINATION.
DATE.
WHERE COINED.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Doubloon
1822
Mint of Mexico. Augustin,
Emperor.
416-5
864
15 49 8
do. .
1824-30
do. Mexican Republic.
416-5
865
15 51 6
do. .
Promiscuous
do.
417
867
15 57
do. .
do.
do.
417
868
15 58 8
do. .
do.
do.
417
869
15 60 6
do. .
do.
Guanaxuato.
417
861
15 46 2
do. .
do.
do.
417
860
15 44 4
* The Castilian mark is variously rated from 3550 to 3554 troy grains. The medium of 3552 is assumed,
t See Appendix. t See Appendix for full statistics.
MEXICO.
GOLD COINS (continued).
DEN OMI NATION.
DATE.
WHERE COINED.
WEIGHT.
GR3.
FINENESS.
THOUS.
VALUE.
D. C M.
Doubloon
Promiscuous
Mint of Guanaxuato.
417
867
15 57
do. .
do.
Durango.
417
868
15 58 8
do. .
do.
do.
417
865
15 53 4
do. .
1833-30
do.
417-5
872
15 67 9
do. .
Promiscuous
Guadalaxara.
416
865
15 49 7
do. .
do.
Average, promiscuous mints.
416-5*
866
15 53 4
SILVER COINS.
DENOMINATION.
DATE.
WHERE COINED.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C M.
Dollar .
1822-23
Mint of Mexico.
416
898
1 00 6
Augustin, Emperor.
do.
1830-34
do. Mexican Republic.
416
901
1 01
do.
1835
do.
416
906
1 01 5
do.
1836
do.
416-5
904
1 01 4
do.
1837
do.
416-5
903
1 01 3
do.
1840-41
do.
416-5
902
1 01 2
do.
1834-35
Zacatecas.
415-5
896
1 00 3
do.
1836
do.
416-5
898
1 00 7
do.
1837
do.
408
895
98 4
do.
1840
do.
414
895
99 8
do.
1841
do.
414
897
1 00
do.
1833-35
Guanaxuato.
416
894
1 00 2
do.
1837
do.
412-5
900
1 00
do.
1838
do.
417
901
1 01 2
do.
1840-41
do.
417
896
1 00 7
* Single pieces vary a grain or two from this weight. One grain makes a difference of 35 cents in the value,
84
MEXICO.
SILVER COINS (continued).
DENOMINATION.
DATE.
WHERE COINED.
WEIGHT.
GHS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Dollar .
1833-34
Mint of Durango.
415
904
1 01 1
do. .
1837-39
do.
417
902
1 01 3
do. .
1835
Potosi.
417
902
1 01 3
do. .
1837-41
do.
416-5
901
1 01 1
do. .
1833
Chihuahua.
417
899
1 01 1
do. .
1840-41
do.
420
907
1 02 6
do. .
1832
Guadalaxara.
416-5
883
99 1
do. .
1835
do.
416
840
94 2
do. .
1835
do.
416
870
97 5
do. .
1835
do.
416-5
884
99 2
do. .
1836
do.
416-5
895
1 00 4
do. .
1840
do.
417
904
1 01 5
do. .
1824-35
Av. of all mints, in parcels.
415
896
1 00 2
do. .
1836-41
do.
416-5
898
1 00 6
Half dollar, or 4 reals
1827
Mexico.*
207
905
50 4
do.
1831-36
Zacatecas.
206
898
49 8
do.
1835-38
Guanaxuato.
206
901
50
Quarter dollar, or 2 reals
1825-28
Mexico.
102-5
902
25
do. .
1824
do. (agacliado.)^
101
898
24 4
do. .
1824
Guanaxuato.
100
900
24 2
do. .
1832-34
do.
103
893
24 6
do. .
1825-30
Zacatecas.
103
897
24 7
do. .
1832-35
do.
105
898
25 4
* Half-dollars are not often struck ; the quarters are much more abundant, and frequently appear in our circulation.
t In 1824 there were dollars and parts coined at Mexico and Durango, on which the head of the eagle is turned
downward. These were called agachados, or " hooked ;" and an impression prevailed that they were of less value
than other pieces. The late W. H. Keating, Esq., in a letter to the Director of the Mint, observed that " A miner, to
whom any such were offered, would be sure to ask to have them changed ; still they were not refused." Our assays
prove that they are not deficient.
MILAN.
85
SILVER COINS (continued).
DENO MINATION.
DATE.
WHERE COINED.
WEIGHT.
GItS.
FINENESS.
TUOUS.
VA1TJE.
D. O. M.
Hammered dollar
1811-18
Zacatecas and other mints.
404
880
95 4
Cast dollar
Various.
Various.
417
910
1 03
Vargas dollar .
1811-12
Somljrcrete.
405
890
97 1
Morelos dollar
1812-13
Not known.
407
880
96 4
M I L A N.
The region of country lying in the northern part of Italy, of which Milan is the
capital, has so often changed its name as to leave some doubt where it is to be
placed, in an alphabetical arrangement. Within half a century it has successively
been known as the Duchy of Milan, the Cisalpine Republic, the Italian Republic, the
Kingdom of Italy, and the Lombardo- Venetian kingdom.
Before 1797 the Duchy of Milan was an appendage of the Austrian empire, but
with a distinct system of coinage. In that year the territory was overrun by the
French army, under Bonaparte, and was erected into a separate government, called
the Cisalpine Republic ; and silver coins of an appropriate type were issued. Rapid
changes, however, passed over this country, which in those times was the battle-
ground in which the fate of all Europe was involved. In 1800 it reverted to Francis
of Austria; two years after, it became the Italian Republic, with Napoleon Bonaparte
as its President ; and in 1805 was changed to the Kingdom of Italy, under the same
domination. From time to time it was enlarged by the annexation of Venice,
Ragusa, and some of the Papal territories.
Amidst the reorganizations, or rather reversions, which took place upon the
overthrow of Napoleon in 1814-15, Lombardy was restored to the Emperor of
Austria ; in whose hands, being now consolidated with Venice into the Lombardo-
Venetian kingdom, it has since remained.
The monetary unit of this country is the lira, or livre, divided into 20 soldi. This
has been repeatedly changed in value; the tables will show that before 1797 it was
14-2 cents, under Napoleon 18-6 cents, and now 16 cents, of our money.
The system of coinage from 1804 to 1815 was the same as that of France, the
22
86
MILAN.
lira and franc being interchangeable. Since that date the coinage is on a different
basis, being blended with that of Austria. (For the legal regulations, see articles
France and Austria?)
GOLD COINS.
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Zecchino, or sequin .
1770
Maria Theresa.
53-5
990
2 28 1
do.
1784
Joseph II.
53-5
990
2 28 1
Doppia, or pistole
1783
do.
97-5
908
3 81 3
Forty lire
1805-14
Napoleon.
199
899
7 70 5
Twenty lire
1805-14
do.
99-5
899
3 85 2
Sovereign
1831
Francis I.
174-5
898
6 74 8
do.
1838
Ferdinand I.
174-5
901
6 77 1
Half sovereign
1839
do.
87
902
3 38
SILVER COINS.
DENOMINATION.
DATE.
EEIGN.
WEICHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Seudo of six lii
e
1778
Maria Theresa.
352
898
85 1
Lira
1780
do.
95
550
14 1
Scudo
1798
Cisalpine Republic.
354
898
85 6
Five lire
1805-14
Napoleon.
384
902
93 3
Two lire
1805-14
do.
154
902
37 4
Lira
1805-14
do.
76
902
18 5
Ten soldi
1805-14
do.
38
902
9 2
Five soldi
1805-14
do.
19
902
4 6
Half lira
1822
Francis 1.
33
900
8
Quarter lira
1822
do.
24-5
590
3 9
Scudo
1839
Ferdinand I.
401-5
902
97 6
Half scudo
1839
do.
201
902
48 8
Lira
1839
do.
67
900
16 2
Half lira
1839
do.
33-5
900
8 1
Quarter lira
1839
do.
25
606
4 1
MOROCCO— NAPLES AND SICILY. 87
MOROCCO.
This country is one of the Barbary states in the north of Africa, and by courtesy
rather than by claim, is usually ranked as an empire.
The coins of the neighbouring country of Spain are current here, but Morocco has
also a coinage of her own, executed in a truly barbarian style. The monetary system
is as follows: six filse (copper) are equal to one blanked, formerly a coin, but now
imaginary ; four blankecls make one silver ounce, ukiah, or dirhem ; and ten of these
are equal to one miscal, a money of account. A Spanish dollar of the Peninsula
passes for 15 ounces; a pillar or Spanish-American dollar is held at 16. (This is
purelv a commercial distinction ; intrinsically, one dollar is as good as the other.)
A Peninsular dollar is also equal to li miscals. There was formerly a dollar or real*
coined in Morocco, of full value; but it is now almost out of circulation. The only
gold coin is the buntagui, equal to two dollars.t
Many years ago, a service of gold plate was sent by the King of Spain as a
present to the Sultan. His religion did not permit him to accept it ; but not
willing altogether to decline the courtesy, he sent it back with a request that it
might be made into coin. The Spanish monarch accordingly converted it into half-
doubloons, or eight dollar pieces, impressed with Moorish characters, but with the
designation " Struck at Madrid." These are now very scarce, having generally been
carried away to other countries, as curiosities.
NAPLES AND SICILY.
A proper understanding of the coinage of the Two Sicilies will require a slight
review of the recent history of the nation. Its former entanglement with Spain, and
the legend Hispaniarum Infans, still impressed on the coins, causes some perplexity in
discriminating between the moneys of the two countries. Unskilful persons some-
times pronounce a Neapolitan piece to be Spanish.
* On page 10 this piece is erroneously named a miscal. It is engraved in Plate XV., No. 10.
t For information upon these moneys we are indebted to J. F. Mullowney, Esq,, long a resident, and now U. S.
Consul in Morocco.
88 NAPLES AND SICILY.
After a protracted strife between the houses of Bourbon and Austria, Charles VII.,
second son of the King of Spain, ascended the throne of Naples and Sicily, in the
year 1735. In 1759 he was called to rule over Spain, as Charles III.; being
succeeded at Naples by his son Ferdinand. This monarch was Ferdinand IV. of
Naples, and III. of the island of Sicily* until his second deposal by Napoleon ; but
upon his reaccession, assumed the title of Ferdinand I. both of Naples and Sicily.
Much confusion will be avoided by bearing in mind these distinctions, and that
Ferdinand I., III., and IV. are all the same person. In this reign, various changes
took place in the silver coinage; a new standard was decreed in 1784, and another
in 1795. Having joined in the alliance against the French Republic, Ferdinand
was overcome by the invading army of that nation, and in 1799 his kingdom was
converted into the Neapolitan or Parthenopian Republic. Silver coins, of a single
denomination, were issued under this government. After various successes and
defeats, Ferdinand regained his throne by treaty, in 1801. The currency was now so
perplexed that it was judged necessary to call in the silver for recoinage, upon a
uniform and simple system ; which took place in 1805. Little more than a year
elapsed, however, before the Napoleon dynasty was established in Naples, in the
person of Joseph ; Ferdinand retiring to Sicily, where he maintained a precarious
dominion. In 1803 Joseph was called away to supplant another Ferdinand of the
Spanish line in Spain. He had made no alteration in the Neapolitan coins, except
as to their devices. Joachim, Prince Murat, succeeded to the throne. The system
of coinage remained unaltered until the year 1813, when the French standards were
introduced ; the new lira, corresponding to the franc. Two years after, the face of
affairs having been entirely changed throughout Europe, by the fall of Napoleon,
Joachim forfeited his crown, and with it his life, and Ferdinand returned from the
island, to reassume the dominion of the Two Sicilies. The French system of coinage
fell with its patron. A new monetary code was promulged in 1818, restoring the
former standards, with some modifications as to the gold. No alterations have since
been made. In 1826 Francis I. succeeded to the throne; and in 1830 Ferdinand II.,
the reigning sovereign.
To avoid too much detail upon a coinage somewhat intricate and not generally
important, it will be sufficient here to state the legal standards of 1818, referring to
the ensuing tables for actual assays prior to that date. The money of account is the
silver ducat, (ducato di regno,) which was formerly an actual coin, but has not been
so for half a century past. This is divided into 10 carlini, of 10 grani, or grains.
On the island, the money of account is the onzia, of 30 tari; the laro being equal to
the carlino, of Naples.
* On Sicilian coins, before 1800, he is styled Ferdinand, simply. A piece of 1810 designates him as Ferdinand III.
The subsecpjent title, Ferdinand I., was doubtless assumed with a view to consolidate the two branches of the realm.
NAPLES AND SICILY.
89
The gold coin of the law of 1818 is of four denominations; the decuple of 30
ducats, the half-decuple, the double ounce {onzia) of 6 ducats, and the ounce of 3
ducats. The legal fineness is 996 thousandths ; the weight of the decuple, 42§
trapped, or 574 troy grains ;* the others in proportion. No gold was coined for four
or five years previous to 1839; preparations were then making for a new emission,
but no specimens have been seen here.
The silver coin is of five denominations ; the scudo of 12 carlini (equal to H
ducati), the half-scudo, and the pieces of two, one, and one-half carlin. These are
all five-sixths fine (833 thousandths), and the largest piece should weigh 31 J trappesi,
or 425-4 troy grains ; the others in proportion.
The Spanish dollar is made current by law at 125 grani.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
TIIOL'S.
VALUE.
D. C. M.
Two onzie, or six ducats
1783
Ferdinand IV.
135
893
5 19 2
Onzia of" Sicily
1T51
Charles.
68
859
2 51 6
Twenty lire
1813
Joachim Napoleon.
99
900|
3 84 8
Onzia
1818
Ferdinand I.
58
995
2 48 5
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGIIT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Scudo, of twelve carlini
1783
Ferdinand IV.
390
900
94 5
Silver ducat, often do.
1784-85
do.
348
842
78 9
Scudo, of twelve do.
1786-98
do.
422
835
94 9
do. .
1791
Ferd. IV. and Mary Caroline.
422
842
95 7
* Letter of Alexander Hammett, Esq., U. S. Consul at Naples. Mr. Hammett states that the pound of Naples
is divided into 12 ounces, the ounce into 30 trappesi, and the trappeso into 20 acini, making 7200 acini to the pound,
and is equivalent to -84417 of the troy pound, or 4862-4 troy grains. Kelly (apparently relying on Bonneville) makes
4950 grains the equivalent. The difference is large, and we have no means of deciding which is correct; but Mr.
Hammett's basis is taken, as being the latest and most direct authority ; and especially as he appears skilled in these
subjects.
t This fineness is assumed.
23
90
NASSAU — NETHERLANDS.
SILVER COINS (continued).
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Carlin .
1791-95
Ferdinand IV.
34
835
7 6
Scudo of Sicily
1785-99
Ferdinand.
419
830
93 7
Scudo .
1799
Republic.
422
835
94 9
do. .
1805
Ferdinand IV.
422
835
94 9
do. .
1808
Joseph Napoleon.
423
835
95 1
do. .
1810
Joachim Napoleon.
421
835
94 7
Lira
1813
do.
76
900*
18 5
Scudo of Sicily
1810
Ferdinand III.
420
835
94 5
Scudo .
1818
Ferdinand I.
424
835
95 4
do. .
1831-33
Ferdinand II.
425
830
95
NASSAU.
This duchy, being one of the southern states of Germany, keeps accounts in florins.
The coinage consists of the ducat, in gold, and the convention-dollar, crown, and
new florin, besides smaller pieces, in silver. These are found to be of the same
value as the coins of Bavaria, which see.
NETHERLANDS.
This title is now appropriated to the territory which at different times has been
designated as The United Provinces, Holland, and Batavian Republic. Eormerly it
included the Austrian or Belgic Netherlands, now known as the kingdom of Belgium.
(For the coinage proper to this latter region, see article Belgium.)
* This fineness is assumed.
NETHERLANDS. 91
The political changes in Holland have been frequent within the last century. By
the treaty of Aix-la-Chapelle, in 1748, the Dutch and Belgic provinces were
sundered, and assigned to different rulers. William V. reigned as stadtholder over
the former division, from 1766 until his expulsion in 1795, when the Batavian
Republic was established. After undergoing various and rapid modifications, this
form of government was changed to a monarchy, with Louis Bonaparte as its king.
His reign extended from 1806 to 1810; after which Holland was formally incor-
porated into the French empire. Its nationality was restored in part some three
years after; but it was not until 1815 that the government was settled, on which
occasion Holland and Belgium were united as the kingdom of Netherlands, under
the dominion of William I. This union was again sundered in 1830, since which
time the two countries have remained distinct.
The coinage of the Netherlands displays something of the intricacy of its political
history. Several series of coins were minted cotemporarily, for many years previous
to the revolution ; and at this day there are circulating about twenty different
denominations of silver coin. Each of the seven provinces had its own mint, but the
variety in the coinage is not materially due to this fact, since, in most cases, they
conformed to a common standard, making only a difference in the legend.*
Gold Coins. The ryder, of 14 florins or gulden, was legally of the weight of 6
engels 15 as, (153i troy grains,) at 22 carats fine. This coinage seems to have
ceased about eighty years since. The ducat is of the established rate of 53-8 troy
grains, and the fineness 23tj carats, or 983 thousandths. No value is fixed by law to
this coin ; it is intended as an article of commerce, and is variously reckoned at 5|
to 5s florins. Ducats are largely exported to Russia, Turkey, and other countries.
The present gold coinage consists of pieces of 10 and 5 gulden, or guilders, the
former weighing 6-729 grammes, and both of the fineness of nine-tenths. This
coinage was instituted by the law of 1816.
Silver Coins. For many years previous to the settlement of 1815, there were
three series of silver coins ; the rixdollar or " leg-dollar,"t the guilder, and the
ducaton. The first class may be known by the figure of a knight in armour, with
one leg hidden by a shield ;£ the second class bears a female figure, leaning on a
pedestal ; the third class is distinguished by the figure of a warrior on horseback, the
* The coins of Holland proper may be known by the word Hull, or Holland, in the device ; those of Utrecht by
Trri. or Truject.; of Zealand by Zel. or Zeelandia; of West Friesland, by West/. ; of Overyssel by Tran., TransisaL,
or Transisnlania ; of Gueldre by Geldria, and of Groningen by Gron. These distinctions have disappeared since the
close of the last century.
j So called in Sir Isaac Newton's Tables. The device on the coin must have suggested the name. It is also called
patagon and daelder.
\ The old ten-schilling piece of Zeeland has this figure also, but with the motto " Emergo Luctor." This piece is
of higher value than the rixdollar, being equal to three guilders.
92 NETHERLANDS.
horse being in a salient posture. The observance of these distinctions is the readiest
way that we know of, to avoid confusion in these coins, which are of very different
qualities of fineness.
The rixdollar, by legal regulation, weighed 8 engels 8? as, (433£ troy grains,) at
10 deniers 10J grains, or 870 thousandths fine. This piece is reckoned at 2 J
guilders, or 50 stivers ; the half and quarter rixdollar in proportion. This coinage
was continued by Louis Bonaparte, but ceased with his reign.
The guilder or florin weighed 6 engels 27 J as, (163 grains,) at 10 deniers 23
grains, or 913 thousandths fine. There are also pieces of 3 florins, and a half-florin,
of the same fineness and proportional weight. The guilder is the money of account,
being divided into 20 stivers, or in more recent style, into 100 centimes. The stiver
is equal to two cents of our money, as nearly as may be.
By the law of 1816 the guilder series (which was continued, to the exclusion of
the other two,) was modified in its standards of weight and fineness, without
altering the actual value. The weight of the guilder was fixed at 10-766 grammes,
(166-2 troy grains,) and the triple and half-guilder in proportion; all of the fineness
of 893 thousandths. Besides these, provision was made for pieces of i, tV, and 2V
guilder, or 25, 10, and 5 centimes ; the 25c. piece to weigh 4-23 grammes (65-2
grains), and the others proportionally — all of the fineness of 569 thousandths.
An entire change in the silver coins was decreed in 1839. The guilder, by that
law, is to weigh ten grammes precisely, (154-3 grains,) at a fineness of 945 thou-
sandths. The three-guilder piece gives place to one of 2£ guilders, as the largest
coin : this, as well as the fractional divisions of the guilder, are to be of the same
fineness, and proportional in weight*
The allowed deviations from the standards by the law of 1839, are small, beyond
precedent. Thus the fineness of the gold coin must not vary more than from 899i to
900J thousandths ; and the silver must be kept within 943§ to 946J.
The ducaton, or ducatoon series, was coined chiefly for the foreign trade in the
East Indies ; although this would not appear from the devices. Its standards were
21 engels 5| as (502-3 grains) in weight, and 11| deniers, or 938 thousandths in
fineness. Its current value, in 1833, was 3-15 guilders. The latest date we have
seen, is of 1804. The more modern coinage for the Dutch East Indies, is noticed
under the head of Malay Archipelago.
* None of these pieces have been received here as yet; in fact, as late as July 1841 they were not yet circulating
at home, as we learn from J. W. Vandenbroek, Esq., U. S. Consul at Amsterdam. It is to this gentleman we owe
the legal regulations of 1816 and 1839, together with specimens for assay.
NETHERLANDS.
GOLD COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GRS.
fineness,
tiious.
VALUE.
D. C. M.
Ducat .
1770-1805
Various.
53-5
980
2 25 8
do. .
1810
Louis Napoleon.
53-5
980
2 25 8
do. .
1816-31
William I.
53-7
980
2 26 6
do. .
1833-39
do.
53-7
981
2 26 9
Ten guilders
1816-39
do.*
103-5
899
4 00 7
Five guilders
1816-39
do.
51-5
899
1 99 4
SILVER COINS.f
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GRS.
FINENESS.
TIIOUS.
VALUE.
D. C M.
Ducatoon
1766-95
William V., Stadtholder.
500
938
1 26 3
Half do.
1766-95
do.
250
938
63 2
Rixdollar
1766-95
do.
428
872
1 00 5
do. .
1806
Louis Napoleon.
436
881
1 03 5
do. .
1808
do.
408
912
1 00 2
Three guilders
1766-95
William V.
476
912
1 17
Guilder
1766-95
do.
161
912
39 5
do. .
1796-1805
Bataviau Republic.
157
904
38 2
Three guilders
1816-38
William I.
498
896
1 20 2
Guilder
1816-38
do.
166
896
40 1
Half do.
1816-38
do.
82-5
896
19 9
25 cent.
1824-30
do.
65
569
10
10 cent.
1824-30
do.
26
569
4
* One thousand ten-guilder pieces, as found in the circulation, will vary in weight from 4320 to 4324 dwts. This is
a remarkable uniformity. The fineness, in parcels, never exceeds 899.
+ There are still circulating in Holland many pieces of more than a century old, on which the figures 28, 30, 60, &c.
may be seen, indicating so many stivers. The stiver being worth two cents of our money, their value is readily
ascertained.
24
94 NORWAY.
NORWAY.
Norge.
This country was formerly a part of the dominions of the King of Denmark, but in
1813 was transferred to Sweden. It has always preserved a separate national
character, and has a distinct system of coinage.
There appears to be no gold coin peculiar to Norway. The silver coins consist of
the rigsdaler-species, of 120 shillings, the half, of 60 skillings, the fifth, or 24 skillings,
and the fifteenth, or 8 skillings, all coined at the rate of 9;^ dalers to the Cologne
mark of fine silver. The standard fineness is 14 lods (875 thousandths), at which
proportion, 83% dalers weigh a Cologne mark ; equal to 445-8 grains to each piece.
There are smaller pieces of four and two skillings, coined at the rate of 101 dalers to
the fine mark.*
These are the old-established standards ; no change was made at the time of the
alterations of Swedish coinage, in 1830. However, the dalers of Norway, Sweden,
and Denmark are interchangeable as to intrinsic value.
The daler of Norway may be distinguished from that of Sweden by the legend on
the obverse ; in the former, the word Norges comes before Sveriges; in the latter, this
order is reversed. Before the separation from Denmark, the Norwegian coins were
not to be distinguished from the Danish by the legend, but by the shield containing
a lion rampant, and underneath, two hammers crossed, probably referring to the silver
mines of Norway.
The silver mines at Kongsberg yielded 17,000 marks in the first half year of
1834 ;t and about the same amount in the whole of 1835.:}:
* Letter of Helmich Janson, Ess., U. S. Consul at Bergen, to the Treasury Department, Aug. 1834.
| Consul's letter.
t Karsten's Archiv. The Norwegian mark equals 3857-7 troy grains ; and a mark of fine silver would be worth
$10 39, in our money.
PERSIA. 95
PERSIA.
Previous to the reign of Fatha Ali, which commenced in 1797, the most usual
coins of Persia were the gold rupee, or mohur, and the silver rupee, or ten-shahee.
These corresponded pretty nearly with the India coinage, of the same era. There
were other pieces, of which the ducat or ashrafi was the most important, and of
which there is a notice as early as 1724. This was of the European ducat or sequin
weight, being three-fourths of a miscal, which is the normal money-weight of Persia.*
Amidst the various changes in the coinage, it has retained its place and character,
though now known by the name of toman. In the long reign of this monarch,
extending to 1834, there were some changes in the monetary system. During the
earlier years the toman was issued weighing 94 troy grains. From 1814 to 1824
the toman seems to have been reduced to 71^ grains, or about one miscal in weight.
The ducat was then a distinct coin.
Of the silver coinage in his reign, the sahib-koran, or real, until 1807 inclusive,
weighed 159 grains. In the next year it was reduced to 143 grains or two miscals;
and so continued, probably, to the close of his government.
In 1834 the present monarch, Mahomed Shah, grandson of Fatha Ali, succeeded
to the throne. Under his reign the toman has been further reduced to 53| grains,
so that it corresponds with the former ducat. The toman and its half are now the
only gold coins. Of silver, the sahib-koran now weighs 83 grains, and its half, the
penebad, in proportion. The copper coins are the shahee and its half.
The present relations of the coins are as follows : ten shahees equal one penebad ;
two of these, one sahib-koran ; ten of these last, one toman.t
The coins of earlier date than the present century must be rare, as it is stated that
the present monarch recoins the money of his predecessor, and even his own issues,
of some years' standing ; not so much to refresh their appearance, as to derive a
revenue by making them of less weight.
The Persian mints (of which there are eight) are said to be supplied with gold
and silver from the mines of Affghanistan ; but to what extent is not known.
* The miscal is variously rated at 71 to 754 troy grains. Probably it is accurate enough to assume 72, which is
exactly three dvvts.
f For specimens of coins, with accompanying information, we are indebted to John P. Brown, Esq.., late drogoman
to the U. S. Embassy at Constantinople. It is needless to add that a Persian coin seldom if ever strays in this
direction.
96
PERSIA.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Toman .
1214(1799)
Fatha Ali Shah, Kajar.*
94
do. .
1230-40
(1814-24)
do.f
71-2
991
3 04 2
Ducat
Not dated.
do.t
53-5
Toman .
1255(1839)
Mahomed Shah, Shahinshah.§
53-7
965
2 23 3
Half do. .
1252(1837)
do.
27
968
1 12 1
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Huzar-dinar
Fatha Ali.H
106
952
27 1
Sahib-koran
1222 (1807)
do.1T
159
945
40 4
do. .
1223(1808)
do.
143
944
28 8
do. .
1255 (1839)
Mahomed.
83
963
21 5
Penebad
1250(1835)
do.
43-5
This coin
Our assay
* The title Kajar was his family surname, or rather the name of the tribe to which his family belonged,
is from Marsden, who gives no fineness. Supposing it to be 990, the value would be just four dollars.
f The tables of Mr. Noton, Assayer at Bombay, give 69 to 73i grains in weight ; the fineness only 972.
is from a single piece ; the weight is from two pieces, which were alike.
J Not assayed, but evidently near fine gold ; probable value $2 28.
5 Shah-in-shah, signifies "king of kings."
|| From Noton's tables. We have no other knowledge of this coin.
IT The sahib-koran seems to be identical with the abbasi of Kelly, and the penebad corresponds to the mahrnnrli.
This assay is Noton's. Several pieces sent by Mr. Brown, of 1231 (1815), had small brass loops or eyes soldered
to them. These are for the convenience of the Persian ladies, who string the coins by the loops, and hang them in
festoons about their heads, as ornaments. Sometimes a hole is bored in the coin itself, for the insertion of the string.
This latter practice is not exclusively Oriental.
PERU. 97
PERU.
This country declared its independence of Spain in 1821, but that dominion was
not entirely shaken off until the close of 1824. The earliest specimens of patriot
coinage noticed here, bear the date of 1822*
The republic was divided in 1836 into the two distinct nations of North Peru and
South Peru. This event is of course exhibited by the coinage. The most recent
specimens, however, omit this distinction, and probably it is not destined to be a
permanent one.
The system of coinage in Peru is the same as in Spain. Peruvian doubloons are
somewhat scarce here, but the dollars are frequently recoined at this mint, and are
occasionally met with in ordinary circulation.
There are at present three mints in the country ; that of Lima is in North Peru,
and has been long in operation ; the mints of Cuzco and Arequipa are in South Peru.
The mint-mark of the first is M, an involution of the letters LIMA; the next
has Cuzco in full, and the last is distinguished by the abbreviation Areq. These
distinctions, besides their interest to the coin-collector, have a bearing upon the value
of the various coins.
As in the case of Bolivia, the half and quarter dollars of South Peru of recent
dates, struck at Cuzco and Arequipa, are greatly below the fineness of the dollars.
This debasement, which was authorized by law, commenced in June 1835, and
continued until February 1838. The pieces are generally about two-thirds fine,
though by no means regular, and have a good appearance. The amount issued to
June 1837 (two years) was 729,000 dollars, the real value of which was 533,000,
yielding a profit to government of 196,000. They were therefore passed off for one-
third more than they were worth.t But by a law of 1838 the half and quarter
dollar were restored to their proper fineness, and thereafter were to be issued in the
proportion of one-sixth in amount, of the annual silver coinage.
It is understood that there was no debasement of the Lima small coinage ; we have
had no specimens of later date than 1832.
* The state of the country in those times is curiously illustrated by some of the coins, which, after their issue by the
republican party, have been restamped by the royalists, without obliterating the former impressions ; as, for example,
patriot dollars of 1822 are sometimes impressed with a crown and the date of 1824; so that both dates appear on the
coin, and render its nativity, at first sight, ambiguous.
f British Statistical Tables for 1837. This was an operation in which private coiners would be very glad, and very
likely, to participate.
25
98
POLAND.
Peru yields a large share of precious metals. The amount cannot be ascertained,
as a considerable proportion leaves the country uncoined, and some of it in a
contraband way. The annual coinage is about 120,000 dollars in gold, and two
millions in silver.
GOLD AND SILVER COIiNS.
DENOMINATION.
DATE.
MINT AND OOVEENMENT.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Doubloon
1826-33
Lima.
Peruvian Republic.
416-5
867
15 55 1
do. .
1826-33
Cuzco.
do.
416-5
871
15 62 3
do. .
1837
do.
South Peru.
416-5
866
15 53 4
Dollar .
1822-35
Lima.
Peruvian Republic.*
416
901
1 01
Quarter dollar
1827
Cuzco.
do.
105
902
25 5
do. .
1828-32
Lima.
do.
105
900
25 4
Dollar .
1837-38
do.
North Peru.f
415
904
1 01
do. .
1837-38
Cuzco.
South Peru.
414
904
1 00 8
Half dollar .
1835
do.
Peruvian Republic.:):
208
650
36 4
do. .
1836
do.
South Peru.
207
667
37 2
Quarter dollar
1835
do.
Peruvian Republic.
102
654
18
Half dollar .
1838
Arequip
a. South Peru.
206
660
36 6
Dollar .
1841
Lima.
Peruvian Republic.
415
899
1 00 5
POLAND.
Polske.
The political vicissitudes of this country form a conspicuous portion of European
history. Once an extensive and powerful dominion, it now scarcely maintains a
place in the list of nations. By various acts of partition, commenced in 1772 and
* The Lima dollars vary in weight from 388 to 437 grains, making a difference of 12 cents between one piece and
another. The fineness varies from 899 to 905. The above is a fair average of weight and fineness. The Cuzco
dollars are less irregular, varying from 409 to 418 grains. They are comparatively rare.
-f The quarter dollars of Lima vary from 91 to 113 grains — or 22 to 27 cents.
t Vary in weight from 195 to 210 grains ; in fineness, 642 to 663.
POLAND.
99
finished in 1795, it was divided amongst the neighbouring powers of Russia, Prussia,
and Austria. A portion of the territory was afterwards erected, by Napoleon, into
the Duchy of Warsaw. In 1815, the new Kingdom of Poland was created, as a
dependency of Russia, comprising only a small part of the ancient Polish nation.
The remainder is incorporated with the respective countries above mentioned, and is
known by the three divisions of Russian, Prussian, and Austrian Poland.
The integral money of account is the zloty, divided into 30 groszy.
The coins issued by King Stanislaus Augustus before the partition, were, the ducat
at the usual rates of Germany, and then valued at 18 zlotych, but more recently at 19
to 20 ; the convention-thaler, at the German rate of " ten to the fine mark," current
at 8 zl., and its half at 4 zl. ; the crown or thaler of 14tV to the fine mark, valued at
6 zl. ; besides lower denominations. From 1795 to 1815 the coinage received little
attention. In the latter year, by an ukase of the Emperor Alexander, a new series of
gold and silver coins was ordered, viz.: in gold, the zloty krolewski (royal zloty), equal
to 25 silver zl. or 3§ roubles of Russia ; the fineness to be 88 sololniks* or 917 thou-
sandths ; also, the double of this coin, at the same proportions.t In silver, the pieces
of five, two, and one zloty, of 83£ solotniks (868 thousandths) fine ; in weight, at the
rate of 17£H pieces of five zl. to the fine mark of silver; also, for small coins, the
pieces of ten and five groszy, at 18i solot. (193 thousandths) fine ; the mark of fine
silver to make 414 pieces often, or 828 pieces of five gr. In 1820 the denomination
of 10 zlot. was added; this is the largest silver coin.:): By an ukase of 1834, the
gold piece of three roubles was made current in Poland at twenty zlot. ; and pieces
of ten and five zlot. in silver were coined, respectively equal to 1 J and \ roubles of
Russia, and designed for circulation in both countries.
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ducat
1791
Stanislaus Augustus.
53-5
984
2 26 6
Convention-thaler
1784
do.
430
833
96 5
Thaler
1794
do.
370
688
68 6
Five zlotych .
1831
Independent Poland.^
240-5
872
56 4
One zloty
1832
Nicholas I.
69
do. .
1838
do.
48
872
11 3
* In Russia absolute fineness is expressed by 96 solotniksy each subdivided into sixth parts,
f It is not known here, whether these were actually issued. J Becher, art. Russland.
Fineness assumed.
100 PORTUGAL.
PORTUGAL.
The chronology of Portugal is closely connected with that of Brazil, and the
reader is referred to that article for a statement of the royal succession, until the
separation of the two countries. In 1826 Dona Maria, then aged only seven years,
was proclaimed Regent of Portugal on the behalf of her father, Don Pedro, the
Emperor of Brazil ; but a vigorous contest for the throne was maintained by her
uncle, Don Miguel, and it was not until 1833 that the queen was established in
undisputed possession.
The silver coinage of Portugal was never of any great importance, out of its own
territory ; but the gold has long been familiar in the currency of the West Indies and
of the United States, and at the principal commercial ports of the world. Few
names in the money-vocabulary are better known than moidore and half-joe. Since
Portugal has lost its command of the Brazilian gold mines, the importance of this
coinage has dwindled away, not being sustained by fresh issues ; in fact, a half-joe of
later date than 1807, the era of the removal of the Portuguese Court to Rio
Janeiro, is scarcely seen. Pieces of earlier dates are still presented here occa-
sionally. The new gold coinage, established in 1835, is of small importance, even
at home ; and is considered rather as merchandise than as money, being always at a
premium.
The moneys of Brazil, with some similarity in the devices and denominations,
are essentially different from those of Portugal, and have therefore been separately
treated.
To obtain a proper view of Portuguese currency, it is necessary to commence with
the year 1688. At that date the gold coinage consisted of six denominations ; the
dobrao of 20,000 reis, the half-dobrao, the moeda d'ouro (moidore) of 4000, the half,
quarter, and tenth of the moidore ; the last being also called the cruzado of 400 reis.
The legal fineness of all these was 22 carats (917 thousandths) ; the weight of the
dobrao was equivalent to 830 grains troy ; of the moidore, 1 66 grains ; and the
others in proportion. At the date just mentioned, the valuation of these pieces was
enhanced by one-fifth ; so that although the dobrao, for example, continued to bear
on its face the figures 20,000, its lawful value was 24,000 reis ; and so of the rest.
This moidore series (so called because that coin is the best known of the class)
continued to be struck until the year 1732; but ten years earlier (1722) a new
series was instituted, with entirely different devices, familiarly known as the Joannese
or joe coinage. This consisted of seven denominations ; the Joannese or dobra of
PORTUGAL. 101
12,800 reis;* the half, of 6400; the quarter, of 3200; the escudo of 16 tosloes or
1600 reis; the quartinho at quarter moidore of 1200; the half escudo of 800, and
the cruzado of 400. These also were of 22 carats fine, and the weight of the
largest piece, one ounce of Portugal, equal to 442-8 grains troy ;t the others in
proportion.
The Joannese series seems not to have been displaced until 1835 ; but its valuation
was altered by an edict of 1821, which provided that all the lesser gold coins should
be called in, to be recoined into pieces of 6400 and 3200 reis ; at the same time
increasing the value of these to 7500 and 3750 reis respectively. Notwithstanding
this advance, the gold coins bore a premium in market, so that in 1834 a piece of
7500 reis cost 7680 in currency.:]:
Until 1797 the currency of Portugal was purely metallic; but in that year the
government issued a large amount of paper money, in notes of 1200 to 20,000 reis
each, bearing interest ; and made it a legal tender in all transactions to pay half in
specie and half in paper. The interest on these was paid for a few years, but
eventually was withheld, and the paper fell, by successive stages of depreciation,
until it reached to 35 per cent, below par.
In 1835, by a decree of the reigning queen, a new monetary system was esta-
blished; the old names and divisions being abolished, and only the former rates of
fineness retained. In this system the gold coins are the coroa de oaro (gold crown) of
5000 reis, and its half, of 22 carats fine ; the coroa to weigh 2| oitavas, or 147-6
troy grains ; the half in proportion. These rates are conformable to the valuation
of the former piece of 7,500 reis, which weighs the same as the crown and half
crown together.
The silver coinage prior to 1 835 consisted of six denominations ; the cruzado
stamped 400 reis, but valued at 480, the half cruzado of twelve vintens, the piece of
six vint., the lostao or testoon of 100 reis, and the half testoon. These were formerly
of the legal fineness of eleven dinheiros (917 thousandths), but for many years they
have been minted at 899 thousandths. The lawful weight of the cruzado was
equivalent to 226-6 troy grains, and the smaller pieces in proportion. The decree of
1835 instituted a new series, consisting of the coroa of 1000 reis, the half, of 500,
* There is some confusion in these terms, since the piece of 6400 reis, which has received, in English, the name of
half-joe, seems properly to be the whole Joannese. But by affixing the number of reis, we shall avoid misunderstand-
ing, if not mistake.
t The mark (8 ozs.) of Lisbon, according to Kelly, is equal to 3541 J troy grains.
I Letter of J. P. Hutchinson, Esq., U. S. Consul at Lisbon, to the Treasury Department, January 1834. From this
letter we derive also some other statements.
The dealer in coins must be warned that there are spurious half-joes, not greatly inferior in fineness to the genuine
coin, but very deficient in weight ; some of these (by what authority is not known) bear the stamp of 20. Further
reference will be made to these pieces in the chapter on Counterfeits. Many half-joes are also greatly reduced by
filing and clipping, so that they can hardly be taken by tale.
26
102
PORTUGAL.
and the pieces of 200 and 100 reis. The legal fineness is 917 thousandths, and the
weight of the largest piece, 8 oitavas 18-58 graos; or at the rate of 7750 reis to the
mark. The proportion of gold to silver is as 15-483 to 1.
The new coins, both of gold and silver, until a very recent date, were scarce in
their own country, and could only be obtained by paying a premium on their nominal
value. Thus in 1839 the gold crown cost 5300, and the silver crown 1040 reis; the
Spanish dollar being held at 900 reis* It is remarkable that copper coins form a
large part of the currency, as in Brazil. In 1834 any debt could be lawfully
discharged by paying one-half in government paper, one-third in silver, and one-
sixth in copper. But the finances are now so much improved, that the legal tender is
(as we learn verbally) three-fourths silver and one-fourth copper.
Accounts are kept in reis and milreis ; and in stating a sum in figures, a division is
made between the two, by inserting the cifrao or cipher $ ; thus, 12 $ 800 expresses
" twelve mil. eight," or 12,800 reis.
There are gold mines in Portugal, but the produce is so small in comparison with
the expense of working them, that the government has paid no attention to them
since 1820.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEICHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M,
Moidore .
1689
Peter II.
165
908
6 45 2
do. .
1705
do.
165
928
6 59 4
do. .
1714-26
John V.f
165
913
6 48 8
Half-joe, of 6400 reis
1727-46
do4
217
914
8 54 1
Joannese
1730
do.
439
912
17 24 2
Half-joe .
1753-77
Joseph I.§
219
914
8 62
do. .
1778-85
Maria I. and Peter III.
220
913
8 65
do. .
1787-1804
Maria I.
221
914
8 69 9
do. .
1822-24
John VI.
221
909
8 65 2
Crown
1838
Maria II.
148
912
5 81 3
Half do.
1838
do.
74
912
2 90 6
* Two sets of coins, with accompanying statements, were obligingly furnished by A. T. Donnet, Esq,, acting Consul
of the U. S. at Lisbon.
f Vary in fineness from 911 to 920. A moidore, clipped to the edge of the letters in the legend, weighed only
127 grains.
t Weight varied from 213 to 220 grains. 5 Weight, 214 to 223 grains.
PRUSSIA.
103
SILVER COINS.
DENOMINATION.
DATE.
HEIGN.
WEIGHT.
GES.
FINENESS.
TIIOCS.
VALUE.
D. C. M.
Cruzado
1795-1826
Maria I. and John VI.
222
900
53 8
do. .
1833
Maria II.
226
908
55 3
Six vintens
1833
do.
55
898
13 3
Crown of 1000 r. .
1838
do.
456
912
1 12
Half do.
1838
do.
228
912
56
Piece of 200 r.
1838
do.
91
920
22 6
Piece of 100 r.
1838
do.
46
920
11 4
12 macutas
1789
Maria I.*
271
896
65 4
PRUSSIA.
Preussen.
In 1701 this country changed its rank from a duchy to a kingdom. It has since
been steadily increasing in territory, wealth, and political importance, so that it is
now classed among the five great powers of Europe. The royal succession since
1701 has been as follows: Frederick I., 1701 to 1713. Frederick William I. to 1740.
Frederick II. (the Great) to 1786. Frederick William II. to 1797. Frederick
William III. to 1840. Frederick William IV. since June 1840, reigning sovereign.
The money of account is the dollar (thaler), which before 1821 was divided into
24 good (gute) groschen, but now into 30 silver (silber) groschen; subdivided into 12
pfennige each.
The most important statutes, regulating the coinage of Prussia, are those of 1750,
1821, and of the German Convention of 1838.
* The Portuguese have settlements, and claim dominion, in various parts of Africa. On the eastern coast they exert
a limited authority over the strip of territory called Mozambique ; and on the opposite shore, the kingdoms of Congo,
Angola, and Benguela, in Lower Guinea. Gold and silver coins have heen minted at different times for these colonies;
as for example, the milreis, in gold, of the year 1755, worth about 79 cents ; and the pieces of 12, 8, 6, 4 and 2
macutas, in silver ; of which the largest is in the table. The series of macuta coins at Sierra Leone bears no relation
to this. (See Sierra Leone.)
104 PRUSSIA.
Gold Coins. By the Miinzpatent of July 1750, provision was made for the coinage
of gold pieces, of 10, 5, and 2£ thalers, (called also the double, single, and half
Frederickd'or,) at the rate of 35 pieces of 5 thalers to the Cologne mark of gold,
alloyed to.21| carats, or 261 loth-grains,* equivalent to 906 thousandths. The
weight of the single Frederickd'or should be 103-13 troy grains. This rate of
coinage originated in Brunswick ; and was in fact employed in Prussia, a few years
previous to the formal edict of 1750. The standard was not closely adhered to,
towards the close of the last century ; though of later years the ten and five-thaler
pieces of Prussia are somewhat better than those of the other states in North
Germany. By the law of 1821 the fineness was reduced to 260 loth-grains, or 903
thousandths ; but no other change was made. Ducats were formerly coined, at the
German rates, but apparently none since 1787.
Silver Coins. In 1750 the rate of 21 florins or 10£ thalers to the fine mark, was
established as the Prussian money of account ;t but in the coinage the thaler was
at the rate of 14 pieces to the fine mark. This rate has continued ever since ; and
until the German convention of 1838 the specie thaler of Prussia was entirely
different from that of other German states ; except that in latter years it had been
adopted by a few of the northern powers. By the convention just referred to, it was
fully incorporated into the German mint-system, and bears a precise relation to the
new florin of the southern states. The terms of this convention are explained at
large under the head of Germany.
The Prussian thaler is of unusually low standard, being only three-fourths
(750 thousandths) fine. The lesser denominations are, the one-third thaler, of
two-thirds (667 thousandths), the one-sixth, of 8 loths 6 grains (521 thousandths),
and the one-twelfth, or two good groschen, of 6 loths (375 thousandths). The
weight of the thaler should be 343-76 grains troy, and its value, at the full standards,
would be 69-4 cents ; but as they are found in currency, the average scarcely exceeds
68i cents. The statute of 1821 provided for an additional coinage of whole and half
silber-groschen, at the rate of 30 gros. to the thaler, and of such weight that 106|
pieces shall be equal to one mark. The fineness is 64 loth-grains, or 222 thou-
sandths.
The King of Prussia, as Elector of Brandeburg, coined convention-thalers as well
as florins or two-third pieces, at the German rates, in the years 1794 to 1797.
There is also a special coinage for Neufchatel, in Switzerland, of which he is the
sovereign.
By the convention of 1838 the large piece of 2 thalers or 3i florins, was
* That is, 261 parts in 288.
t This rate, having been proposed by M. Graumann, then Director of the Mint, was commonly called the
Graumannic basis (Graumannisclien Milnzfuss.) Becher, i. 30.
PRUSSIA.
105
introduced into the Prussian coinage. The fineness of this coin is nine-tenths, and
6rV pieces are to weigh a mark ; making 572-9 troy grains to each piece. This
coinage, at the close of 1340, had already amounted to near one million of pieces.
The whole amount of coinage of gold and silver, during twenty years ending with
1840, was a fraction over fifty millions of thalers ; equal to thirty-six millions of
dollars in our money. Of this sum, the silver constituted about three-fourths*
There are two mints in the Prussian dominions, viz. : at Berlin and Dusseldorf. At
Breslau there is an office for the assay of jewelry and plate.
Prussia produces annually about 23,000 marks of silver ;t which (if fine) is equal
to 230,000 dollars, in our money. (See Plate XI.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THODS.
VALUE.
D. C. M.
Frederickd'or .
1752-82
Frederick II.
102
901
3 95 8
do. .
1795-96
Frederick William II.
102
897
3 94
Ducat
1787
do.
535
979
2 25 6
Frederickd'or .
1799-1812
Frederick William III4
102
901
3 95 8
Double do.
1800-11
do.
205
898
7 92 8
do. .
1831
do.
205
903
7 97 2
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Thaler .
1750
Frederick II.
338
754
68 6
do.
1764-86
do.
340
750
68 7
One-third
1768-86
do.
126
668
22 7
One-sixth
1764-73
do.
78
519
10 9
Thaler .
1789-96
Frederick William II.
340
749
68 6
* The statistics of coinage are shown more at large in the Appendix.
For these and other valuable items of information, the Mint is indebted to his Excellency Henry Wheaton, U. S.
Envoy at Berlin.
t Karsten and Von Dechen's Archiv.
f Bonneville reports some pieces, early in this reign, as low as 893 and 892.
27
106
ROME.
SILVER COINS (continued).
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
One-third thaler
1786-97
Frederick William II.
126
670
22 7
One-sixth
1796-97
do.
80
515
11 1
Convention-thaler
1795
do. (for Brandeburg.)
430
830
96 1
Two-third piece
1797
do. do.
265
750
53 5
Thaler .
1798-1803
Frederick William III.
340-5
745
68 3
do. .
1813-19
do.
341
748
68 7
do. .
1823-31
do.
343
750
69 3
One-third
1809
do.
126
667
22 6
One-sixth
1801-18
do.
80-5
517
11 2
do. .
1822-28
do.
81-5
526
11 5
ROME.
The moneys of the papal states will be considered from the year 1 754, fifteenth of
the pontificate of Benedict XIV., that being an era in the coinage. The succession
of Popes since that date has been as follows: Benedict XIV., 1740 to 1758.
Clement XIII., to 1769. Clement XIV., to 1775. Pius VI., to 1800. This Pope
took an active part in opposing the French revolutionists ; in return for which, his
territory was invaded in 1797, and himself made prisoner in the year following.
Rome was made a republic, and coins were struck, both gold and silver, bearing new
devices, with the legend Republica Romano. But in 1800 the papal government was
reinstated in the person of Pius VII. This sovereign held a precarious sway until
1809, when the territory was wrested from him and annexed to the empire of
Napoleon. This condition of things lasted until the downfal of the Emperor in
1814, when Pius was restored to his chair, of which he held peaceable possession
until his death in 1823. He was succeeded by Leo XII., 1823 to 1829. From this
date there was an interregnum until 1831, when Gregory XVI., the reigning Pope,
was elected. In this reign an important change has been made in the coinage.
ROME. 107
We shall notice first the order of the coins from the year 1754, which, with a brief
interruption at the time of the republican establishment, lasted until 1835.
The gold coins were, the zecckino or sequin, professedly coined of fine gold, at the
rate of 99 pieces to the libbra or pound weight,* and of the legal value of 2-15 scudi;
also the doppia d'oro, its double, and half, of 22 carats fine, (917 thousandths,) and at
the rate of 62 doppia to the pound; the piece being valued at 3-15 scudi. Of late
years, these coins were at a premium of two per cent, upon their lawful value.
The silver coins were of six denominations ; the scudo, which is also the integral
money of account, and is divided into ten paoli (pauls) or 100 bajocchi (cents) ; the
half-scudo, the testone or testoon of three pauls, the quinto of two pauls, the paul of
ten bajocchi, and the half-paul. These were by law eleven-twelfths fine, except the
smallest piece, which was lOii parts in 12. The weight was at the rate of 12-83
scudi to the pound.t
The coins of the republic were, a large gold piece, weighing near 59 grammes, or 910
troy grains, and five-sixths (833 thousandths) fine, called the scudo d'oro ; and a silver
scudo, of the same weight as the papal coinage, but reduced to the French standard
of fineness. This coinage, as it was short-lived, is doubtless extremely scarce, even
where it belonged.
In 1835, under the present Pope, the coinage was thoroughly remodelled, and
placed upon a decimal system, both as to its divisions and fineness. The gold
coins are the pieces of ten and five scudi, the larger piece weighing by law
17-356 grammes (267-7 troy grains), the smaller in proportion, and both nine-tenths
fine. The silver coins are of the same denominations as before ; the scudo being of
the weight of 26-898 grammes (415 troy grains), and the smaller pieces in propor-
tion ; the fineness is nine-tenths.^: Hence, at the full rates, the gold piece of ten
scudi would be worth #10 37 6 in our money ; the silver scudo, 100-6 cents. It will
thus be seen that the Romish coins assimilate in many respects with those of
the United States, the scudo and bajocco corresponding closely with our dollar and
cent ; but the ten-scudi is somewhat better than our eagle, owing to the higher
relative valuation of gold in the United States.
The city and district of Bologna constitute a sort of republic within and under the
papal jurisdiction, and possessing a distinct right of coinage. The gold and silver
coins of Bologna are of the same denominations and value as those of Rome, except
that from 1795 to 1797 (perhaps later) a scudo was coined by the "people and
senate of Bologna" of different alloy from the ordinary scudo of ten pauls, and of
* The libbra, according to Kelly, is equal to 5234 troy grains.
t Letter of the U. S. Consul at Rome to the Treasury Department, March 1834, with a statement from the
papal mint.
I Becher's Ost. Munz., ii. 192. This author mentions also the leonine, of 4-40 scudi, a gold piece, coined since 1825,
108
ROME.
somewhat greater value. The coins of Bologna are distinguished by the abbrevia-
tions Bon. or Bonon., and sometimes by the Latin name Bononia, in full. We are
not sure that this coinage has been renewed since the revolutionary times at the close
of the last century. (See Plate XIV.)
GOLD COINS.
DENOMINATION.
DATE.
EEI6N.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Sequin .
1775-83
Pius VI.
52-5
996
2 25 2
Doppia .
1777-86
do.
84
906
3 27 8
do. .
1800*
Pius VII.
84-5
901
3 27 9
Gold scudo
1799
Republic.!
910
833
32 64 6
Ten scudi
1836
Gregory XVI.
267-5
900
10 36 8
Five scudi
1835
do.
134
900
5 19 4
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Scudo
178Q
Pius VI.
408
913
1 00 4
Half scudo
1775-85
do.
203
913
49 9
Testoon
1796
do.
120-5
913
29 6
Paul
1775
do.
40
913
9 8
Scudo
1799
Republic.
408
899
98 8
do.
1800-02
Pius VII.
408
913
1 00 4
do.
1815
do.
408-5
925
1 01 8
Testoon
1830
Sede vacante.
122
925
30 4
Scudo
1831-34
Gregory XVI.
408
925
1 01 7
do.
1835
do.
415
900
1 00 6
Scudo
1782
Pius VI. for Bologna.
408
913
1 00 4
do. .
1797
Senate of Bologna.
456
842
1 03 4
* This coin bears no date ; we assume 1800.
t From Bonneville. Kelly gives the gold scudo of the republic, as weighing 408 grains, (same as the silver scudo,)
and 900 thousandths fine; which would make $15 81 in value.
RUSSIA.
109
RUSSIA.
During seven reigns, from Peter the Great to Peter III. (1685-1762), the coins of
Russia, both gold and silver, seem to have been in a fluctuating state as to their
composition and intrinsic value. In the second year of the Empress Catharine II.
(1763), a settled system was adopted, which remained in force until 1799, the third
year of her immediate successor, Paul I. The alterations made by him were only in
the silver, and those merely increasing the fineness and reducing the weight, without
changing the intrinsic value. This alteration was confirmed by the ukase of
Alexander I. in 1801. But by another monetary edict of the same Emperor, in 1810,
the small silver coins were changed back to the old rates, so that while the rouble
and its half were of the better alloy, the smaller pieces were of a worse, though of
due weight to keep up their intrinsic value. In 1813 the small coins were restored
to their former rates, and made uniform with the larger pieces. The ukase of 1817
seems to have been only confirmatory of former provisions.
In 1828 (third year of Nicholas, reigning Emperor,) a decree was promulgated for
the coinage of platinum, in pieces of three roubles ; in the following year, the
denomination of six roubles, and in 1830 the piece of twelve roubles, were further
ordered*
In 1832 a silver coinage was projected, which was calculated to make a stronger
bond of union between Russia and its dependency, Poland. The Russian rouble
and the Polish zloty are in such a relation that one and a half of the former are
equal to ten of the latter ; a relation not forced, but of long standing. To facilitate
the intercourse of the two nations, therefore, a series of coins was decreed, suitable
for the currency of each, bearing Russian and Polish inscriptions ; of which the ten-
zlotych piece is the principal.
By ukase of 1834 the gold piece of three roubles or twenty zlotych was added to
the coinage, to serve both for Russian and Polish currency.
The following are the existing legal standards of weight and fineness of the
various denominations of gold, platinum, and silver coin.
* This metal was discovered by Wood, an assayer in Jamaica, in the year 1741. Its chief localities are Brazil,
Colombia, St. Domingo, and Russia ; the produce of the latter country greatly exceeds that of all the others, amounting
to 1800 kilogrammes annually. (Chaudet— Ure.) It has all the properties which should classify it as a precious
metal, but as it cannot be melted by furnace heat, and can only be wrought by welding, it is scarcely fit for the
purposes of coinage, and therefore the example of Russia in this matter has been nowhere followed. We have seen
no Russian piece of later date than 1837.
28
HO RUSSIA.
Of gold there are three denominations ; the imperial, of ten roubles, the half-
imperial, and the three-rouble piece. Of the first, none have been coined since the
reign of Catharine II.; and the last was introduced in 1834. The legal weight of
the imperial, since 1763, is 3A solotniks (201-75 troy grains), and the smaller pieces
in proportion* The legal fineness is 88 sol. or 917 thousandths.f
Ducats were coined as late as the reign of Paul I., of a variable weight, and
fineness somewhat inferior to the German rate. There were also in the last
century, some very small gold pieces of the imperial standard.
Of platinum there are three denominations, of twelve, six, and three roubles.
The largest should weigh 9 sol. 68 dol. (638 grains), and the others in proportion.
They are professedly of " pure Oural platinum," the truth of which is confirmed by
their specific gravity, which is 21. As this metal is scarce and of unsteady price, it
is interesting to know what valuation has been found most expedient for it in
Russia. The equivalent of one rouble in pure gold, in that country, is 18-5 grains;
of the same in pure platinum, 53-16 grains; of the same in pure silver, 277-4
grains. Consequently platinum is there held to be worth S\ times as much as silver,
and gold three times as much as platinum. In actual weight, the pieces of six and
three roubles correspond with the legal rate.
Of silver there are ten denominations, of which six are Russian proper, and four
Russian-Polish. The Russian are, the rouble of 100 copecks, its half, quarter, fifth,
tenth, and twentieth; otherwise called the pieces of 50, 25, 20, 10, and 5 copecks.
The Russian-Polish are, the 10 zlotych or 1£ roubles, the 5 zl. or § roub., the piece
of 2 zl. or 30 cop., and the zloty, or 15 cop. piece. The standard fineness is 83£ sol.
(868 thousandths), and the weight of the rouble 4fJ sol. or 319-6 grains, the others
in proportion. The mint-price of gold, whether in bars or in coin, as established in
1817, is 355 silver copecks for one solotnik fine; of silver, 22| cop. for one pound
fine.
The amount of coinage in late years cannot be ascertained. In the time of
Alexander I., from 1801 to 1811, the gold coinage is stated at nine millions of
roubles. The platinum coinage from April 1828 to May 1832 amounted to 1500
pieces of 12 r., 11,600 pieces of 6 r., and 203,700 pieces of 3 r.%
Russia is rich in mines of the precious metals. The whole product of gold, for ten
* The Russian pound contains 96 solotniks; the sol. contains 96 dolie. There is some difficulty in determining the
equivalent of this pound. By the ukase of Alexander, in 1815, it was declared that a Cologne mark is equal to 54|-
sol , (see Becher, art. Russland,) which makes the pound answer to 6319*4 troy grains. According to Baron Humboldt,
in a late essay, (Karsten's Archiv. for 1839,) the pound is deduced to be 6312-5 grains, and this is the equivalent given
by the U. S. Consul at St. Petersburg, A. P. Gibson, Esq., in a letter to the Treasury Department of July 1839. We
feel justified in taking the basis of the Consul and of Baron H., as the more recent and direct. We are indebted to
Mr. Gibson for specimens of coin.
t Absolute fineness is expressed by 96 solotniks ; the sol. is divided into sixths. { Becher's Oest. Munz.
RUSSIA.
Ill
years ending with 1838, was at an annual average of 375 poods, or about four
millions of dollars in our money. The product of silver has not been ascertained
here later than 1828; for five years previous it had averaged 3000 poods annually,
which is about two millions of dollars. The amount of platinum in 1836 was 118
poods, or 62,180 troy ounces, but the annual average is stated to be 57,900 ounces,
which, at $6 80 the ounce, makes a yearly return of near $400,000*
Until very recently, accounts were stated in Russia in the paper rouble, worth a
little over twenty cents in our money. When this paper money was created (reign of
Catharine II.) it was equivalent to silver ; the repayment being guaranteed by a
pledge of the crown property, which is very extensive. The issues however were
carried to so vast an amount, that at the era of the invasion of Napoleon, the paper
rouble had fallen to less than one franc. It recovered somewhat from that extreme
depression ; but by a late ukase of Nicholas I., the effect of which was to terminate
on the first day of January 1840, 3 \ roubles in paper were valued at one of silver.
It was also decreed, that from the same date all accounts and contracts should be
stated in the silver valuation, and foreign exchanges were henceforth to be quoted on
that basis only. Gold coins were to be received and paid in all government offices
with an agio of three per cent. ; that is, the imperial will be reckoned as equal to
10-30 silver roubles.t
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Imperial
1756
Elizabeth.
253
915
9 97
Double rouble
1756
do.
50
915
1 97
Imperial
1762
Catharine II.
253
915
9 97
do. .
1766-81
do.
199
915
7 84 2
Rouble .
1779
do.
19
915
74 9
Half do. .
1777
do.
9-5
915
37 5
Ducat
1798
Paul I.
66
969
2 75 4
Half-imperial
1839
Nicholas I.
100-5
917
3 96 9
Three roubles
1838
do.
60-5
917
2 38 9
+ See Appendix.
f London Courier, July 1830.
112
SARDINIA.
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
TIIOUS.
VALUE.
D. C. M.
Rouble
1724
Peter the Great.
432
729
84 8
do. .
1725
Catharine I.
418
736
82 9
do. .
1750
Elizabeth.
398
792
84 9
do. .
1775
Catharine II.
360
757
73 4
do. .
1799
Paul I.
323
870
75 7
do. .
1801-14
Alexander I.*
318
875
75
Half do.
1811-19
do.
158
875
37 2
Twenty copecks
1802
do.
62
875
14 6
do.
1810
do.
72
760
14 7
do.
1813
do.
63
877
14 9
Rouble
1837-38
Nicholas I.
320
875
75 4
Ten zlot.
1835
do.
486
871
1 14
Five zlot.
1838
do.
236
871
55 4
Half rouble .
1837
do.
160-5
875
37 8
Quarter do. .
18.36
do.
80
880
19
Thirty cop. .
1838
do.
94
872
22 1
Twenty cop.
1837-39
do.
65
875
15 3
Ten cop.
1839
do.
32-5
875
7 7
Five cop.
1834-38
do.
16
875
3 8
SARDINIA.
Previous to the French invasion in 1792, the Sardinian monarchy comprised the
states of Piedmont, Savoy and Nice, and the island of Sardinia. In 1 796, by the
treaty of Paris, Savoy and Nice were annexed to the French Republic, and Piedmont
* The silver coins botli of Alexander and Nicholas are very unsteady in weight. The roubles of the former vary
from 309 to 323 grains; the 10 zl. of the latter are from 482 to 492 grains. The fineness runs from 871 to 882 thou-
sandths ; the Russian coin seems slightly better than the Polish-Russian.
SARDINIA.
113
became the Sub-Alpine Republic, or Eridania. The King took refuge in the island.
which alone was left to him. In 1802 this prince was succeeded by Victor Emanuel ;
and in the same year the Sub-Alpine Republic was suppressed, and the territories
united to France. Affairs remained in this condition until the deposal of Napoleon
in 1314, when the King recovered his continental states, with the addition of the
City and Duchy of Genoa. Since that date the political order of Sardinia has not
been changed.
The following is the order of succession. Charles Emanuel III. reigned from 1730
to 1773; Victor Amadeus III. to 1796; Charles Emanuel IV. to 1802; Victor
Emanuel to 1821 ; Charles Felix to 1831 ; Charles Albert, reigning sovereign.
The obsolete standards need no notice ; the corresponding coins are given in the
tables. The French system was adopted for Eridania in 1800, and since the restora-
tion in 1814 has been continued ; the coins being of 80, 40, and 20 lire or francs, in
gold, and 5, 2, 1, 4, and ^ lira, in silver. The larger pieces are frequently found
among French coins, and are considered interchangeable with them ; but the gold is
scarcely equal in fineness.
The ancient Duchy of Genoa now constitutes a part of the Sardinian monarchy.
This state coined its own money for centuries before the French invasion. In 1798,
having been converted into the Ligurian Republic, it issued gold and silver coins,
bearing the new title ; the gold pieces were the Genovine of 96 lire, and its half;
the silver were the scudo of 8 1. and its half, with smaller denominations. Assays of
these will be given in the tables. Genoa retained its right of coinage after the
annexation to Sardinia in 1814 ; but we have seen only the small piece of 10 soldi or
half-lira, in silver, of that year ; whether there has been any more recent coinage has
not been ascertained here.
GOLD COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEICHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Pistole
1773
Victor Amadeus.
148
905
5 76 8
Carlino (island)
1773
do.
247
890
9 46 7
Pistole .
1786
do.
139
905
5 41 8
do. .
1797
Charles Emanuel IV.
139
905
5 41 8
Marengo
1800
Republic.
98
898
3 79
Twenty lire
1815-21
Victor Emanuel.
99
898
3 82 9
Eighty lire
1821-31
Charles Felix.
398
898
15 39 2
29
114
SAXONY.
GOLD COINS (continued).
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Forty lire
1821-31
Charles Felix.
198
898
7 65 7
Twenty lire
1831-36
Charles Albert.
99-5
898
3 84 8
Genovine
1798
Ligurian Republic (Genoa).
388
908
15 17 2
Half do.
1798
do.
193
908
7 54 7
SILVER COINS.
DENOMINATION.
DATE.
OOVEKNMENT.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Scudo
1773
Victor Amadeus.
540
906
1 31 8
do. (island)
1773
do.
361
896
87 1
Five francs
1800
Republic.
384
892
92 3
Five lire
1815-21
Victor Emanuel.
385
902
93 5
do. .
1821-31
Charles Felix.
385
902
93 5
do. .
1831-36
Charles Albert.
385
902
93 5
Scudo
1796
Republic of Genoa.
512
889
1 22 6
Lira
1794
do.
62
889
14 8
Scudo
1798
Ligurian Republic.
512
885
1 22
SAXONY.
Sachsen.
This country, one of the principal states of Germany, was an electorate until
1807, in which year it was advanced to the rank of a kingdom. The chain of
monarchical succession of late years has been as follows : Frederick Augustus I.,
Elector of Saxony and King of Poland, reigned from 1694 to 1733. Frederick
SAXONY.
115
Augustus II. to 1763. Frederick Christian succeeded in 1763, and died in the same
year, after a reign of a few months. Coins were, however, struck with his effigy.
Frederick Augustus III. became Elector at the age of thirteen years, maintained his
place during the eventful period of French ascendancy, and terminated his career
in 1827, after a reign of sixty-four years. Having espoused the cause of Napoleon,
he was, in 1807, advanced to the royal rank in his own dominion, and made chief of
the newly-created Duchy of Warsaw. Upon the Emperor's downfal in 1814, the
Polish territory was restored to Russia, and the Saxon dominions curtailed by cessions
to Prussia. Anthony, brother of the last monarch, reigned from 1827 to 1836.
Frederick Augustus IV., nephew of Anthony, was made co-regent in 1830, succeeded
to the throne in 1836, and is the reigning sovereign.
Saxony, being one of the northern states, keeps accounts in thalers and groschen.
Until very recently, this thaler of account (called also the thaler current) was
reckoned at 13J pieces to the Cologne mark fine, equivalent to 72-9 cents in our
money, and was divided into 24 good groschen ; but it is now at the Prussian or new
convention-rate of 14 to the mark, which reduces the value to 694 cents, and is
divided into 30 new or silver groschen, as in Prussia. The thaler of account is now
represented in the coinage.
The gold coins consist of two classes : the ducat, and the Augustd'or of five
thalers, with its double and half. The silver coins may also be divided into two
classes : the first consisting of the species-thaler and its divisions, upon the basis of
the convention of 1 753, which was adopted in Saxony ten years after ; the second
consisting of the thaler and parts thereof, according to the convention of 1838.
For the legal standards of all these, see Germany.
The annual coinage at Dresden is near half a million of thalers, equal to $340,000
of our money ; only one-thirteenth of this is in gold. The silver mines of Saxony
produce a steady average of 65,500 marks annually, or more than $600,000 of our
money.*
The independent dukedoms of Saxony rely for the most part on the coins of
Prussia for their currency, except in small denominations, or scheide-miinze, which
each prince coins for his own territory. However, there were convention-dollars
struck in 1813 and 1815, by Charles Augustus, late Grand Duke of Saxe-Weimar ;t
and the same in 1829, by Ernest, reigning Duke of Saxe-Coburg.
* See Appendix. We are indebted to the attentions of Dr. John G. Flugel, U. S. Consul at Leipsic, for specimen
coins, with ample details concerning them.
t The coin of 1815 bears no head, nor name of the sovereign, but only the legend Grosherzagthum Sachsen —
"Grand-duchy of Saxony;" so that it requires some extraneous information to decide whence it emanated. Its
standards are different from the usual rates, but they result in the same value.
116
SAXONY.
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Double Augustd'or .
1784-1800
Fred. Augustus III. (Elector).
204-5
896
7 89 1
do.
1808-17
do. (Iving.)
204-5
896
7 89 1
do.
1826
do.
205
898
7 92 8
Double Antond'or
1830-36
Anthony.
205
900
7 94 6
Ducat
1830
do.
53-7
979
2 26 4
Double Augustd'or .
1837
Frederick Augustus IV.
205
900
7 94 6
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GHS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Species-thaler .
1763
Frederick Augustus II.
428
842
97 1
do. .
1763
Frederick Christian.
430
839
97 2
do. .
1764-1806
Frederick Augustus III.
431
835
96 9
do. .
1808-16
do.
432
835
97 1
do. .
1815
Grosherz. Sachsen (Weimar).
477
755
97
do. .
1818-26
Frederick Augustus III.
430
834
96 6
Half do. .
1813-26
do.
214
833
48
Quarter do.
1800-02
do.
107
838
24 2
Sixth do.*
1803-10
do.
83
537
12
Species-thaler
1828-36
Anthony.
432
834
97
Quarter do.
1830
do.f
126
New thaler
1839
Frederick Augustus IV.
344
750t
69 5
Piece of two new groschen
1841
do.
46
310
3 8
Piece of one new groschen
1841
do.
32
230
2
* " VI. einen Thaler" means six to the dollar current, not to the specie or convention-dollar, of which it is only the
eighth part.
f Not assayed. From the increase of weight it seems the standard fineness of the quarter (Achtzig einefeina march),
was reduced in the reign of Anthony.
J Fineness assumed.
SIERRA LEONE — SPAIN. ]]7
SIERRA LEONE.
This colony was founded in 1787, on the western coast of Africa, by a company
under charter of the British government. Silver coins were struck for it in 1791, and
again in 1796; probably none of later date. The denominations were, the dollar of
ten macutas, the half-dollar, the twenty cent, and the ten cent piece or one macuta.
In weight, these correspond pretty nearly with the usual dollar standard, but the
fineness is greatly below. A half-dollar, tried here, was found to weigh 204 grains,
and to be 834 thousandths fine ; value 46 cents. This coinage bears no relation to
the series of macuta coins struck for the Portuguese colonies in West Africa. (See
Portugal, note.)
SPAIN.
Espana.
Thirty years ago, an exposition of Spanish moneys would have occupied the
principal place in a work like the present. The Spanish dollar and doubloon were
familiarly known at the ports of every continent, and every where formed the bulk
of the material for minting. But this famous coinage has sunk into insignificance
since the loss of the American colonies, whence the pillar dollars and most of the
doubloons emanated. The Spanish-American coinage began to decline in the year
1810; about 1822 it entirely ceased, or rather underwent a transition from royal to
republican. (See Mexico, Peru, &c.) The Peninsular coinage is of course continued,
but is not often seen in this region.
The Spanish system of moneys is still important to an American reader. It is
from the Spanish dollar that the unit of our national coinage is derived; and its
divisions, though greatly depreciated by wear, continue to circulate largely in this
country, and exercise a greater influence upon prices than our own small coins*
To obtain a satisfactory view of Spanish moneys, the succession of monarchs
* The prices of small things, and even postages, are adjusted to the awkward sums of 12{ and 6.J cents, rather than
the easy decimals 10 and 5. The mints are fast supplying the country with dimes and half-dimes, but the exigency
continues so great, that in the southern and western States these are interchangeable with the real and medio, or
eighth and sixteenth of .the Spanish dollar.
30
118 SPAIN.
should be kept in view. Upon the death of Charles II., the country was torn by the
strife of various princes for the throne. The chief competitors were Philip V. (who
was eventually successful) and Charles III. of Austria, afterwards the Emperor
Charles VI. of Germany ; and their contest is celebrated in history as the War of
the Spanish Succession. From 1707 to 1712 there were cotemporary sets of
pistareens and halves, of the respective claimants. After 1712, and until 1746, the
name of Philip appears on the coin, with the exception of the single year of 1724,
when a break occurred of a nature well suited to embarrass coin-collectors. In that
year the monarch abdicated in favour of his son Louis, but before its expiration this
prince died, and Philip resumed the reins of government. There are coins of that
single date, bearing the name of Ludovicus. The successor of Philip was his son
Ferdinand VI., who reigned until 1759. Charles III., hitherto VII. of Naples, and
brother of Ferdinand, reigned until 1788, and was then succeeded by Charles IV.,
who abdicated in 1808 on behalf of his son Ferdinand VII. In this reign the
coinage is again embarrassed by simultaneous suites with different devices, in
consequence of the attempt to establish the Napoleon dynasty in Spain. The
coins of Joseph bear date from 1809 to 1813. Ferdinand was fully re-established
in 1814. His reign extended to 1833, after surviving a revolution at home (1820)
and a series of reverses in America, by which the colonies were totally lost to his
crown. Maria Isabella II. succeeded in 1833, at the age of three years, and with the
aid of a regency is the reigning sovereign.
The Spanish money of account, in which exchanges are quoted, consists of an
imaginary dollar, (about three-fourths of the real dollar,) divided into 8 reals, of 16
quartos or 34 maravedis each.
In the coinage, the integral money is the real of 34 maravedis. There are three
sorts of reals ; 1, the Mexican or Spanish- American, of which eight make a silver
dollar; 2, the real of new plate (de plata nueva), of which ten are equal to a dollar;
3, the real vellon, of twenty to the dollar. The recent coinage bears this last rate.
In the gold coinage both of Spain and the colonies, there were the denominations
of the doblon or doubloon, the half, the quarter or pistole, and the eighth or escudo.
In Spain there was also a sixteenth, called veinten, coronilla, or gold dollar. The
doubloon is valued at sixteen dollars. The following are the legal standards of this
coin and its divisions.
Before 1772, 22 carats or 917 thousandths fine ; 8| doubloons to a Castilian mark,
or 418 troy grains to the dollar*
From 1772 to 1785, 21 J carats or 896 thousandths ; same weight.
Since 1785, 21 carats or 875 thousandths; same weight.
* By referring to a note under Mexico, it will be seen that the Castilian mark is estimated at 3552 grains troy.
SPAIN. 119
In the silver coinage of Spanish America, the denominations were, the^eso duro, or
hard dollar of eight reals, (commonly known as the pillar dollar,)* its half, quarter,
eighth, sixteenth, and thirty-second parts. In the Peninsula, the coins were the
dollar, formerly of ten reals, but now of twenty reals vellon, the half, the peseta or
pistareen, which is one-fifth of the dollar, or four reals vellon, and the half and
quarter pistareen. The legal fineness of all of these except the pistareen and its
parts was, prior to 1772, 11 dineros, or 917 thousandths; since that date, 10 din. 20
grains, or 903 thousandths ; the weight of the dollar to be the same as that of the
doubloon. The standards of the pistareen and its parts are not so well ascertained,
but it is believed that the full weight and fineness were as follows : Of the first class,
1707 to 1712, (issued by the pseudo Charles III.,) the pistareen should weigh 83-6
troy grains, at 11 din. or 917 thousandths fine. Of the second class, 1715 to 1771,
commonly called the cross pistareen, weight 92-3 grains, fineness 10 din. or 833
thousandths. Of the third class, since 1772, usually called the head pistareen, 92-3
grains weight, and 9J| din. or 813 thousandths fineness. These last are distinguish-
able from the preceding class, by having the head of the sovereign on the obverse.
The gold coins, both of Spain and Spanish America, have the same devices, and
are only to be separated by the initials of the mints, found in the legend. The silver
coins are more obviously distinguished ; those of the Peninsula have on the reverse
the national arms, inclosed in a shield, with the legend Hispaniarum Rex, or Rey de
Espana ; while those of the colonies have the addition of two columns, and in the
legend the King is styled Hisp. et Ind. Rex.
The mints, with their respective marks, are (or have been) the following : in Spain,
Madrid, designated by the letter M, crowned, and Seville, known by the letter S ;
in America, Mexico, marked M°. ; Potosi, IP ; Santiago, S°. ; New Guatemala, NG. ;
Lima, M. There were other mints of less note, especially in Mexican provinces,
after the breaking out of the Revolution. (See Mexico.)
In the colonies there have been several sorts of irregular coinage, especially those
of the Mexican Revolution, which under the names of hammered and cast dollars, have
been noticed under the head of Mexico. But there are some other kinds to be spoken
of in this place.
1. The first is the clumsy, shapeless coinage, both of gold and silver, called in
Mexico muquina de papalote y cruz;']; and in this country by the briefer appellation of
" cobs." These were of the lawful standards, or nearly so, but scarcely deserved the
name of coin, being rather lumps of bullion flattened and impressed by a hammer ;
* So called from the pillars on the reverse of the coin, which represent the pillars of Hercules, or the Straits of
Gibraltar. In Morocco (across the Straits) they are called cannon dollars, from a pardonable misapprehension of the
device and its meaning.
f That is, "windmill and cross money;" the cross being of an unusual form, and not unlike the fan of a windmill.
120
SPAIN.
the edge presenting every variety of form except that of a circle, and affording
ample scope for the practice of clipping, Notwithstanding, they are generally
found, even to this day, within a few grains of lawful weight. They are generally
about a century old, but some are dated as late as 1770. They are distinguished by
a large cross, of which the four arms are equal in length, and loaded at the ends ;
the date generally omits the thousandth place, so that 736 (for example) is to be read
1736. The letters plvsvltra (plus ultra) are crowded in, without attention to
order. These coins were formerly brought here in large quantities for recoinage,
but have now become scarce.
2. Another rude coinage was issued at Caraccas, consisting of pesetas of two reals,
or quarter dollars, of which, under the Spanish authority, we have observed the dates
of 1781 to 1821 ; while from 1815 to 1821, like pieces were also issued by the
patriots. They were of very reduced weight and fineness, as the tables will show ;
as to workmanship, they are but a single grade beyond the cobs.
3. During the troubles in the Peninsula, coins of one and five pesetas or pistareens
were struck at Barcelona, bearing date 1809 to 1812. They bore the simple
designation En Barcelona, and the value," without acknowledging any monarch.
See a further notice in the table.
4. In 1821 pieces of ten reals or half a dollar appeared, bearing the title of
Ferdinand VII., and the word Resellado ("recoined") conspicuously in the reverse.
The coin is entirely out of the regular series, both as to its devices and fineness.
The amount of coinage at the Mint of Madrid for twenty years ending with 1841,
was three and a half millions of dollars in gold, and two millions in silver ; making
an average of both kinds of $275,000 annually. There is however a great variation
in the yearly amounts of coinage* (See Plate VIII.)
GOLD COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GES.
FINENESS.
TIIOUS.
VALUE.
D. C. M.
Cob doubloon .
1733-44
Philip V.f
American.
416
895
16 03 4
Pistole
1745
do.
Spanish.
103
909
4 03 2
Doubloon
1751
Ferdinand VI.
American.
416
908
16 26 5
do. .
1772-84
Charles III4
do.
416
893
16 00
* Statement from the mint, procured by Hon. A. Vail, U. S. Charge d'Affaires at Madrid. This does not include
Seville. See Appendix,
f Some of these weigh only 408 grains, and the fineness varies from S93 to 898.
\ Fineness varies from 895 to 883 ; the oldest pieces being the best.
SPAIN.
121
GOLD COINS (continued).
DENOMINATION.
DATE.
BEIGN.
WEIGHT.
GES.
FINENESS.
TIIOUS.
VALUE.
D. C. M.
Half-doubloon
1780-82
Charles III.
Spanish.
206
896
7 95
Pistole .
1774-82
do.
American.
103
895
3 97
Doubloon
1786-88
do.
Spanish.
416
870
15 58 7
Escudo .
1786-88
do.
American.
52
874
1 95 7
Doubloon
1789-1808
Charles IV.
American.*
416-5
868
15 57
Half do.
1789-1808
do.
do.
208
870
7 79 3
Escudo .
1789-1808
do.
Various.
52
868
1 94 4
Doubloon
1811-21
Ferdinand VII.
American.!
416-5
868
15 57
Half do.
1810-24
do.
Spanish.
208
865
7 74 8
Pistole .
1813-22
do.
do.
104
872
3 90 6
Escudo .
1809-20
do.
American.
52
851
1 90 6
SILVER COINS.
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GBS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Cob dollar
1736-70
Philip V. ; Charles III. Amer4
410
915
1 01
Dollar .
1731-32
Philip V. Spanish.
410
910
1 00 6
Pistareen
1707-12
Charles, Pretender.
70
900
17
do. .
1715-37
Philip V.
81
833
18 2
do. .
1724
Louis.
75
833
16 8
Globe dollar
1736-46
Philip V. American.
411
910
1 00 8
do. .
1746-59
Ferdinand VI. do.
411
910
1 00 8
Quarter do.
1746-59
do. do.
100
910
24 5
Globe dollar
1759-71
Charles III. do.
411
910
1 00 8
Pistareen
1759-71
do.
85
826
18 9
* Weight varies (in pieces little worn) from 414 to 418 grains,
f Weight varies ftom 412 to 419 grains. One grain makes a difference of 33 cents.
{ Fineness varies from 913 to 922 grains.
31
122
SPAIN.
SILVER COINS (continued).
DENOMINATION.
DATE.
EEIGN.
WEIGnT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. JI.
Dollar .
1772-88
Charles III. Spanish.
412
900
99 8
Half do.
1772-88
do. do.
205
900
49 7
Pillar dollar
1772-1808
Charles III. and IV. Amer.*
413
898
99 8
Half do.
1772-1808
do. do.
204
898
49 3
Pistareen
1772-1808
do.t
85
813
18 6
Half do.
1772-1808
do.
41
813
9
Pillar dollar
1808-25
Ferdinand VII. American.^
414
898
1 00 1
Dollar .
1808-21
do. Spanish.
414
900
1 00 4
do.
1809-13
Joseph Napoleon. do.
415
900
1 00 6
Pistareen
1808-33
Ferdinand VII.
87
S13
19 1
1
1835-37
Isabella II.
90-5
810
19 7
Quarter dollar
1772-1821
Various; from our circulation.
97
898
23 5
Eighth, or real
1772-1821
do. do.
46
898
11 1
Sixteenth, or medio
1772-1821
do. do.
21
898
5 1
Quarter real .
1796-1816
do. American.
12
898
2 9
Two reals
1781-1821
do. Caraccas.
74
690
13 8
Five pesetas
1809-11
Barcelona coinage.
404
896
97 5
Ten reals
1821
Resellado.
208
920
51 5
* Fineness from 897 to 903. Parcels may average 900.
f Pistareens were formerly abundant in our circulation, passing for 20 cents. In consequence of a report upon them,
made by the Director of the Mint in 1827, they fell to 17 cents, but have now quite disappeared. The head pistareens
were apt to be mistaken for quarters of a dollar.
{ After the Peninsular Revolution of 1821, pillar dollars were struck for a short time at Madrid. They are easily
distinguishable from the true pillar dollar. In fineness, Madrid pieces are occasionally found as high as 905.
SWEDEN. ]23
SWEDEN.
Sverige.
■to"-
The currency of Sweden consists almost wholly of paper money, although there is
a fair proportion of specie coined at the mint.
The unit of metallic money is the species-daler of 48 schillings. Previous to 1830,
it was coined at the rate of 71 pieces to the mark, (451-7 troy grains to the daler,)
and 14 loths 1 grain (878 thousandths) fine. Its divisions were, the two-third and
one-third, or plott, at the same fineness ; and pieces of one-sixth, one-twelfth, and
one-twenty-fourth, of lower quality. By the law of 1830, the daler is now coined at
Tilths of the pound, or 525 grains troy, and 750 thousandths fine, so that its value is
not altered. Its present divisions are the one-half, one-quarter, one-eighth, and one-
sixteenth, at the same fineness.
The only gold coin is the ducat, of the usual weight, and 976 thousandths fine ;
125 pieces being coined from a pound of fine gold.
The amount of annual coinage is variable. In 1838 it was 850,000 specie dalers
in silver, and 20,000 ducats in gold ; in the preceding year it was only half this
sum*
The silver mines at Sahla and Stora yield annually about 30,000 specie dalers.
There are two sorts of paper money, Banco and Riksgald; the former issued by
the National Bank, the latter by the Riksgald or Government Bank. The Banco is
reckoned to be fifty per cent, better than the other.f Since 1829, the established
rate has been 2jf riksdalers banco to one specie daler,:}: which would make the former
equal to 40 cents of our money ; but it is sometimes not more than 35 cents, owing
to fluctuations in exchange. The riksgald daler may therefore be estimated at 25
cents, or one-fourth of our dollar.
* Letter (with specimen coins) from C. F. Arpwedson, Esa., U. S. Consul at Stockholm,
t Baird's Northern Europe. \ Becher, art. Schweden.
124
SWITZERLAND.
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GliS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ducat
1777
Gustavus III.
53
977
2 23
do. ,
1799-1800
Gustavus IV. Adolphus.
53
977
2 23
do. .
1838
Charles John XIV.
54
975
2 26 7
Specie daler
1771-91
Gustavus III.
448
880
1 06 2
One-third do. (plott)
1784
do.
147
875
34 6
Specie -daler
1795-1801
Gustavus IV. Adolphus.
450
880
1 06 7
One-sixth do. .
1803-07
do.
95
686
17 6
Specie daler
1830-38
Charles John XIV.
525
751
1 06 2
Half do.
1831-32
do.
261
751
52 8
One-quarter do. (12 schil.)
1830-32
do.
131
750
26 5
One-eighth do. (6 schil.)
1832
do.
63
750
12 7
One-sixteenth do. (3 schil.]
1835-36
do.
31
750
6 3
SWITZERLAND.
Schweiz.
Until near the close of the last century, this ancient republic consisted of a
confederacy (Eidsgenossenschafi) of states or cantons, nineteen in number. In 1798,
through the influence or power of the French Republic, the cantons were consoli-
dated into one government, called the Helvetian Republic (Republik Helvetische) ;
but after five years' duration, this constitution was dissolved, and the former system
re-established. Subsequently, three new cantons were added to the confederacy ; so
that the present number consists of twenty-two*
* We annex the names of these in English and Swiss, and in some cases Latin also, as they appear on the coins ; an
aid which the collector of coins will appreciate.
1. Berne — Bern, Sw. — Respublica Bernensis, Lat. This is one of the central cantons, and is by far the most
considerable, both as to size and population. 2. Zurich — Zurich, Sw. — Resp. Tigurina, or Turicensis, Lat.
3. Vaud — Waadt, Sw. (The legend on the coins is in French.) 4. Lucerne — Luzern, Sw. — Resp. Lucernensis,
Lat. 5. St. Gall — St. Gallen, Sw. 6. Ticino — Tessin, Sw. (Legend in Italian.) 7. Basle— Basel, Sw. —
SWITZERLAND. 125
Each of the cantons enjoyed, and used, the right of coinage, prior to the union of
1798; from that date until 1803, coins were issued only in the name of the Helvetian
Republic; but since 1803, the prerogative has reverted to the various cantons.
Considering that the population of the entire confederacy does not exceed two
millions, it could not be expected that the present work should detail the monied
system of each district. This is the less called for, as, for more than ten years past,
the cantons have stamped only the lowest denominations, (batzen and half-batzen ;)
and as to gold, or large silver pieces, none have been issued for upwards of twenty-
five years* Switzerland depends for its larger metallic currency upon France and
Germany, the five franc piece and the crown-dollar being most usual. As to small
pieces (scheidemiinze), the cantons are overrun with their mutual issues, as well as by
an influx of billon money from the adjoining countries.t
Previous to the revolution of 1798, the gold coins of the Swiss cantons were the
ducat and pistole, with occasional issues of doubles of each. The ducats were very
various as to value, though approaching to the imperial standard. (See Germany.)
The pistole was coined upon the basis of the louisd'or of France, ordained in 1785.
(See Fiance.)
The principal silver coin was the ecu or crown, of 4 Swiss francs (franken), also
divided into 40 batzen, or 400 rappen. The smaller pieces were the half-crown, the
franc of 10 batzen, and the pieces of five and one batz. The ecu was of diflerent
standards, but that of Berne, which was the most known, was 14J loths, or 905
thousandths fine, and contained 26-5 grammes fine gold. Its full value in our money
was 110 cents, making the Swiss franc 27-5 cents, or about 1^ francs of France.
When the Helvetian Republic was established, the coinage of Berne was adopted
as the basis for the new moneys, except that the fineness of the silver was reduced to
the French standard of nine-tenths, and the weight increased proportionally. The
gold pistole was already at that alloy in actual coinage. Upon the dissolution of this
government in 1803, and the return to a confederacy, a law was enacted providing
for a uniform system of moneys. The Swiss franc was declared to be equal to 8/<r
Resp. Basileensis, Lat. 8. Friburg — Freyburg, Sw. 9. Soleure — Solothurn, Sw. — Resp. Solndorensis, Lat.
10. Uri— same in Sw. — Resp. Urania, Lat. 11. Schweitz — Schwyz, Sw. — Resp. Suitensis, Lat. 12. Grisons —
Graubundten, Sw. 13. Aaroau. 14. Unterwalden. 15. Glarus. 16. Thhrgau. 17. Schaffhausen. 18.
Appenzell. 19. Zug. (These seven are named alike in Swiss and in English.) 20. Geneva — Genf, Sw.— Geneve,
Fr. This was formerly a separate republic, but by the treaty of Vienna, in 1815, became one of the Swiss cantons;
as also the two following: 21. Valais— Wallis, Sw. 22. Neufchatel— Neuenburg, Sw. This canton is under
the dominion of the King of Prussia, without constituting a part of that nation.
* Letter of J. G. Sghwarz, Esq., U. S. Consul at Vienna, June 1841.
t Two tracts have recently appeared at Zurich, from the pen of M. Peslalozzi, bearing the significant titles, Vebtr
die Landplage der fremden Scheidemiinze, &c— " On that scourge of the country, foreign small coins,"— and Die
Mimzwirren der Westlichen Schioeiz—" The confusion of currency in West Switzerland." 1838-39. See also his
Beytrage zur Schv. Munz., &c. Zurich, 1833.
32
126 SWITZERLAND.
French grains of fine gold, or 12711 grains of fine silver. In the coinage, the pieces
of one, two, and four francs were to be nine-tenths fine, and 32-58 francs to weigh a
mark. For lower denominations, there were the five-batzen, two-thirds (667 thou-
sandths) fine, and 54 pieces to the mark; the batzen, one-sixth (167 thousandths)
fine, and 90 to the mark ; besides smaller pieces of still baser alloy. In 1818 another
system was established ; the franc was reduced to 8tV French grains in fine gold,
or 125-25 grains in fine silver* A tariff of foreign coins was added, by which the
French five franc piece was made current at 35-75 batzen; the twenty franc at.
135 batzen ; German crowns at 33-5 batzen.
As it respects the monetary system, it would hence appear that there is sufficient
uniformity and simplicity ; in the manufacture of the coin there is greater latitude.
But it is in the moneys of account that the greatest diversity consists ; and this is so
great as to deter any one but a Swiss from studying the subject. The Swiss florins
and livres are as multifarious as the imaginary pounds of our own States before their
independence. It is sufficient to state that the German cantons (which compose the
great body of the union) reckon, 1, in the Swiss franc or livre, divided into 10 batzen,
or 100 rappen ; this livre being worth at present 1-47 French francs, or 27-34
cents of the United States — 2, in gulden, or florins, divided into 40 schillings or 60
kreutzers — otherwise into 15 batzen of 4 kreutzers. These florins are very various,
being from 20 to 27 pieces to the Cologne mark fine.t At Berne, the principal
canton, the florin is at 23-375 to the fine mark, or 41-4 cents per florin in our
money.J At Zurich, the florin corresponds!* to 2-35 French francs, or 43-7 cents of
the United States.§ In the French cantons, (Geneva, Vaud, Neufchatel,) accounts
are kept in livres, divided into 20 sols or sous, and subdivided into 240 deniers. But
the uniformity proceeds no further than the nomenclature. Thus in Geneva, (by law
of 1826,) the livre is at the rate of 32^ to the Cologne mark of fine silver; and
there is also a mode of accounting by florins of 12 sous, or 144 deniers. One livre
is equal to 3J florins. In Vaud, the livre is at 35 to the fine mark. In Neufchatel,
the livre is at 35^ ; but there is also a livre faible, of which 2£ are equal to the
former. In the Italian canton, Ticino, 79J lire are equal to a mark of fine silver.||
* Becher, i. 218. In our terms, this makes 6-64 troy grains of fine gold, equal to 28'58 cents ; or 102-67 grains fine
silver, equal to 27-64 cents.
f Andreits. I Becher. 5 Note from Zurich, 1841.
|| A Cologne mark of fine silver is worth $9 72 12 in United States' money.
SWITZERLAND.
127
GOLD COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
TUOUS.
VALUE.
D. C. M.
Double Pistole
1793
' Berne.
234
900
9 07
Pistole
1796
do.
116
901
4 50 1
Ducat
1794
do.
52-5
974
2 20 2
do.
No date.
Basle.
53
943
2 15 2
Pistole .
1795
do.
118
891
4 52 8
do.
1798
Soleure.
116
898
4 48 6
do.
1800
Helvetian Republic.
116
897
4 48 1
SILVER COINS.
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ecu
1790-94
Zurich.
390
844
88 7
Eight batzen .
1810
do.
113
Ecu, forty batzen
1795-98
Berne.
452
903
1 10
Franken
1797
do.
122
833
27 4
do. .
1811
do.
114'
Five batzen
1826
do.
67
760
13 7
Two and a half do.
1826
do.
31-5
766
6 5
Batzen .
1826
do.
31
254
2 1
Four franken .
1814
Lucerne.
453
Ten batzen
1812
do.
110
904
26 8
Four franken .
1801
Helvetian Republic.
452
900
1 09 6
Genevoise, or ecu of 3 liv.
1796
Geneva.
464
868
1 08 5
Twenty-five cent.
1839
do.
62
252
4 2
Ten do. .
1839
do.
49
126
1 7
Ten batzen
1823
Vaud.
112
900
27 1
Five do.
1813
do.
63
666
11 3
Batzen .
1831
do.
39
164
1 7
128
TRIPOLI.
SILVER COINS (continued).
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
THOCS.
VALUE.
D. C. M.
Batzen .
1828
Freyburg.
40
167
1 8
Thaler .
1763
Basle.
356
833
80
Crown
1795
do.
412
840
93 2
Small piece
No date.
do*
7-2
53
1
TRIPOLI.
Trabolus.
This country, one of the Barbary Powers on the southern coast of the Mediter-
ranean, is nominally a regency of the ,Ottoman Empire. It has its distinctive
coinage, in no respect assimilated to that of the Sultan, except that it bears his
name and titles in the impression, to the exclusion of those of the reigning Bashaw.
The coins are unimportant in a commercial view, and of still less value as specimens
of the art of minting ; but being extremely scarce on this side of the ocean, they are
proportionably curious, and the few details we have to offer in relation to them may
gratify amateur collectors.
The mint law, or rather the instruction of the Bashaw to his coiners, as to the
alloy and composition of the moneys, is, as in most Turkish countries, a state secret.
The issue of coin is as often an expedient to raise money for the government, as to
provide a currency for the people. A considerable parcel of coin having been struck
at the mint, public criers proclaim the value at which it must be received, particu-
larly as compared with some foreign coin, such as the Spanish or Austrian dollar.
The people are compelled under severe penalties to accept the coin at its arbitrary
valuation, until the issue in the possession of the Bashaw is expended, when the
money is suffered to fall to its intrinsic value.
* This coin bears only the letters Mori. Basil, (Moneta Basileensis.) It is the lowest alloy of silver, of any coin in
the world.
TRIPOLI. 129
A notable instance of this policy was that of a pretended gold coin, issued by the
late Youssuf Bashaw. In 1827, pieces called adlea, having a golden exterior, and
weighing about forty grains troy, were forced upon the people as the equivalent of a
dollar. In a few days they declined to the one-thirtieth of that amount, which was
considered to be their real value. Having had an opportunity of testing their propor-
tions here, we find the content to be 154 thousandths in silver, 9 in gold, and the
remainder (837 thousandths) base metal. The gold was merely a thick gilding.
After deducting expenses of parting, and obtaining therefrom merchantable gold and
silver, one ounce (troy) of such coins would yield 34£ cents ; and a single piece
would be worth nearly three cents. These oppressive measures of Youssuf were the
principal cause of the revolution which led to his overthrow and abdication in 1832.
The gold coin of Tripoli has for a long time disappeared, even from its own
capital city. The latest date is A. H. 1233 (A. D. 1820), though the dies with this
date were said to have been continued in use until 1829, with a view to impose an
inferior coin into circulation.
Of the silver or billon coin, there are two series of modern date. The first is that
of Youssuf Bashaw, of the twenty-fifth year of Sultan Mahmoud II. (1832), consisting
of the ghersh or piastre, and its divisions. The weight of the ghersh was 2£ meticals;*
the alleged fineness was one-third, but our assays prove an habitual endeavour at
one-fourth. The second series is that of Nedgib, his successor, consisting of the
utchlilc of 1J piastres, or 120 paras, and its divisions. The utchlik weighs 3 J
meticals, and its fineness is about the same as the ghersh. It therefore appears that
the value of the piastre has been increased ; Youssuf 's was worth ten cents in our
money, that of Nedgib is 12^ cents; nearly the same as in Tunis. Hence the
Spanish dollar finds its equivalent at 800 paras, or aspers. This rate was, three
years ago, fixed by authority ; but the edict became obsolete in a few weeks, and the
coins were left to find their level in trade.
In the Addenda to Kelly's Cambist, there is an assay of three silver coins of
Tripoli dated in 1808, which were of considerably higher value, the piastre being
then equal to eighteen cents. These specimens are given in the annexed table.
Accounts are kept in Tripoli in piastres or ghersh, of 100 paras. (See Plate XV.)
* The U. S. Consul at Tripoli, D. Smith M'Cauley, Esq., has taken pains to compare the onzia, a weight of
Tripoli, with our troy weight; the result, together with specimens of coinage, were obligingly sent to this Mint, in
October 1839. lie finds the onzia to be equal to 471 grains troy. The melical, or money weight, is equal to 6? parts
of the onzia, or ounce, and is divided into 24 harooba; making the metical equivalent to 70'65 grains, and the haroob
2-94 grains. Kelly's Cambist gives 72 grains as the weight of the metical, and states that there is a smaller weight of
the same name, equal to 63 grains, used for bartering in gold dust. The metical appears to be the same as the Persian
miscal. (See Persia.)
33
130
TUNIS.
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ghersh, of 100 par.
1223(1808)
Mahmoud II.
188
354
17 9
Half do. .
1223
do.
98
306
8 1
Quarter do.
1223
do.*
47
308
3 9
Ghersh .
1248(1832)
do. (Youssuf, Bashaw.)
153
244
10
Half do. .
1248
do. do.
78
241
5 1
Quarter do.
1248
do. do.
39
246
2 6
Eighth do.
1248
do. do.
20
249
1 3
Utchlik, of 120 p. .
1251 (1835)
do. (Nedgib, Bashaw.)
227
245
15
Altmich, of 60
1251
do. do.
116
262
8 2
Boutleteen, of 30
1251
do. do.
57
241
3 7
Bouhamstash, of 15
1251
do. do.
28-5
245
1 9
Bousebbatash, of 7i
1251
do. do.
13-5
250
9
TUNIS.
This country is nominally a dependency of Turkey, and allegiance is acknowledged,
as in Egypt and Tripoli, by the inscription of the Sultan's name and titles upon the
coin, without mention of the reigning Bey. The system of money is entirely distinct
from that of the mother country.
While this regency is reported to have made considerable advances in civilization,
it must be owned that the coinage is an exception ; its fluctuations of value, and
baseness of composition, show that it belongs to Barbary. The coins are scarcely
seen in our part of the world, and are but slightly noticed in standard treatises.t
The old piastre of Tunis (say of Selim III.) was of the intrinsic value of 25 cents,
* These three pieces from Kelly were assayed in 1822, and probably were coined about that time. The date of
A. H. 1223 only indicates the Sultan's accession ; the year of his reign is found on another part of the coin, and is to
be added. See page 17, note.
t We are indebted to S. D. Heap, Ess., late U. S. Consul at Tunis, for specimen coins, with accompanying- details.
TUNIS.
131
or one-fourth of a Spanish dollar. In 1828 the Bey ordered a new coinage, of which
the piastre was to pass for one-fifth of a dollar ; but its real value was not more than
14 cents. The coins have since declined somewhat, so that at present the piastre is
scarcely worth 13 cents. In fact, the coinage is regulated by no declared standard,
but varies according to the secret instructions of the government.
The arbitrary value set upon the piastre of 1828 gave rise, as might have been
expected, to a profitable speculation for private coiners beyond the Mediterranean, as
well as for the Bey himself. Quantities of counterfeit Tunisian piastres — if it be right
to stigmatize them as such, since they were fully equal to the Bey's in value — were
coined in Europe, and introduced into Tunis ; where, being exchanged at the rate of
five to the dollar, they had the effect of driving good foreign coins out of circulation,
and obliged the government to annul its decree. The piastres then fell to their true
valuation, and so continue, except that the course of trade sometimes attaches to
them a variable rate in commerce. For example, a failure in the crops of corn, oil,
&c. will reduce the piastre to 70 or 80 French centimes, or 13 to 15 cents of the
United States ; but when the harvests are abundant, the value (against foreign
money) rises to 17 cents.
Gold does not seem to have been coined for half a century past.
Accounts are kept in piastres, divided into 52 aspers or burba, which are subdivided
into 12 burbine. (See Plate XV.)
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
KEIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Half-sequin
1187 (1773)
Abdul Hamid, Sultan.
19
885
72 4
Piastre
1202 (1787)
do.
238
408
26 1
Double piastre
1245 (1829)
Mahmoud IT.*
358
270
26
Piastre .
(1838-39)
do.
176
263
12 8
Half do.
(1828-29)
do.
90
273
6 5
Quarter do.
(1834-35)
do.
45
270
3 2
Eighth do.
(1824-26)
do.
21
296
1 7
Sixteenth do. .
(1837-39)
do.
11
270
8
* There is a. great want of adjustment in the weight of these coins. Two double piastres, of A. H. 1245, differ 9
grains from each other. The fineness of the coins, as shown by the table, varies from 263 to 296 thousandths.
Probably three parts fine in ten, is the standard given by the Bey to his coiner.
132 TURKEY.
TURKEY.
There is no monetary system so uncertain and fluctuating as that of Turkey.
This may be seen by tracing the value of the ghersh* or piastre (the unit of Turkish
money) for less than one century past. From the best data at command, it appears
that in 1764 (reign of Mustapha III.) the piastre was worth sixty cents of our
money ; in the next reign (Abdul Hamid), from 1774 to 1789, it was at forty cents ;
in the reign of Selim III., which extended to 1807, it was farther reduced to twenty-
six cents ; during the government of Mahmoud II. it fell, in 1818, to eighteen, in
1823 to twelve, the next year to eight, in 1827 to six, and in 1832 to three cents
intrinsically, although in commerce it was at 18 to the Spanish dollar, or a fraction
over five cents to the piastre. In the present reign (Abdul Medjid), its intrinsic
value is 3-8 cents in the silver coin, and 4-4 in the gold, or 26 to 23 per dollar ;
commercially it is rated at 23 to the dollar, more or less.
In consequence of this rapid depreciation of the currency, the coinage presents an
intricate study, and one, to any except a Turk,t scarcely worth the pains. There is
great irregularity in the weight and fineness ; and the latter is, in the silver coin
especially, exceedingly low ; so that it fairly falls within the class of billon.
The piastre, ghersh or kirk-paralik, is in actual money divided into 40 paras, of 3
akcheh or aspers each ; but in moneys of account it is variously divided into 80 or
100 aspers.
Gold Coins. In 1764, the sequin fundouk was established as an equivalent to the
Venetian sequin, then much used in Turkey, and in countries farther east. It soon
became debased, however, both in weight and fineness, and was gradually superseded
by the sequin zermahboub, at first equal to three-fourths of the fundouk. Its parts
were the half, or nisf, and quarter, or rubieh. Under the reign of Mahmoud II. the
gold coins were the pieces of 40, 20, and 10 piastres, of 21 carats or 875 thousandths
fine; the largest weighing 56 grains troy. Also the onikilik, of 12 piastres, and its
half, at 20 carats fine, or 833 thousandths.^ Since the accession of Abdul Medjid
(July 1839), the gold coins are the yirmilik of 20 piastres, the onlik of 10, and the
altunli beshlik of 5, at the fineness of 20 carats or 833 thousandths ; the largest
weighing 24J grains troy.
* Otherwise spelt grouch. Marsden derives it from the German groschen.
f We should also except the fraternity of collectors, who seldom make any account of trouble or difficulty in their
researches.
I Becher, art. Turk. Reich.
TURKEY.
133
Silver Coins. Under Mahmoud II. these were the beshlik of 5 piastres, the half or
yuzparalik, the kirkparalik or piastre, the yirmiparalik or half-piastre, and the onparalik
or quarter-piastre of 10 paras. These contained about 22 per cent, of silver. There
was also the altilik of 6 piastres, towards the close of his reign, about 44 per cent,
fine.
Under the present Sultan, the coins are the altilik of 6 piastres, the utchlik of 3,
the allmicldik of H, the yirmiparalik of a half-piastre, and the onparalik, or quarter,
besides the single para.* The pieces of li p. and upward, are 43 per cent, of silver;
the others are much lower.
GOLD COINS.
DENOMINATION.
DATE.f
BEIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. 51.
Sequin fundouk
1789
Selim III.
52-5
800
1 80 9
do. zermahboub
1789
do.
36
800
1 24
Onikilik, of 12 p. .
1822-24
Mahmoud II.
25
833
89 7
Piece of 20 piastres
1827
do.
27-5
875
1 03 7
do. of 10 p. .
1827
do.
13-5
875
50 9
Yirmilik, of 20 p.
1840
Abdul Medjid.
24-5
832
87 7
Onlik, of 10 p.
1840
do.
12-5
832
44 8
Altunli beshlik, or 5 p.
1840
do.
6-5
832
23 3
SILVER COINS.
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GKS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ghersh, or piastre .
1773
Abdul Hamid.
294
500
39 6
do.
1783
do.
284
550
42 1
Altmichlik, or 1£ p.
1784
do.
410
550
60 7
Yuzparalik, or 2£ p.
1793-1802
Selim III4
500
470
63 3
Ghersh .
1794-1801
do.
200
486
26 2
* We are indebted to the attention of John P. Brown, Esq., late dragoman to the U. S. Embassy at Constantinople,
for specimens of coinage of the present and past reigns, with additional information,
f The Mahomedan date is here omitted, and the Christian substituted.
I These vary in weight from 486 to 508 grains.
34
134
TUSCANY.
SILVER COINS (continued).
DENOMINATION.
DATE.
EEIGN.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. 31.
Para
1794
Selim 111.*
5
500
7
Ghersh .
1823
Mahmoud II.
94
470
11 9
Yirmilik, or 5 p.
1827
do.
23
470
2 9
Beshlik, or 5 p.
1830-32
do.
250
215
14 5
Yuzlik, or 2| p.
1831-32
do.
120
215
7
Ghersh .
1831-32
do.
44
220
2 6
Yirmilik
1835-38
do.
21
150
8
Altilik, or 6 p.
1835
do.
200
442
23 8
do.
1840
Abdul Medjid.
197
442
23 6
Utchlik, or 3 p.
1840
do.
94
432
10 9
Altmichlik, or 1§ p.
1840
do.
48
425
5 5
Yirmilik, or i p.
1840
do.
23-5
165
1
Onlik, or 10 paras .
1840
do.
12
Para
1840
do.f
2
77
TUSCANY.
Toscana.
The monarchical succession of this country, for the past century, is closely linked
with that of the German empire.
The family of Medicis, which bore the rule for several centuries, became extinct in
1737, by the death of John Gaston. The grand-dukedom was thereupon claimed by
the Emperor Charles VI. ; by whom it was conferred upon his son-in-law, Francis of
Lorraine. In 1740, upon the decease of Charles, Francis became nominally, and
five years after, actually, Emperor of Germany ; yet retaining the sovereignty of
Tuscany, and adding his new titles to the legend upon the Tuscan coins. The first
* These vary from 2k to 7 grains.
f Value, one-thirtieth of a cent.
TUSCANY. 135
coinage which will be noticed here, will date from the Lorraine dynasty ; coins of an
earlier period being now "so rare that they cannot be found even for the gratification
of the curious."*
Upon the death of Francis (who was I. of Germany, but III. of Tuscany), in 1765,
the grand-duchy devolved upon his second son, Leopold. In 1790 this prince was
called to the imperial throne, but continued to reign over Tuscany also, until his
decease in 1792. His second son, Ferdinand III., succeeded to the grand-duchy in
the same year. The great revolution, at first French, but eventually European,
which had its commencement about the same time, was destined to exercise a
powerful, though not enduring influence upon the fortunes of this prince, and of
Tuscany. In 1801, by virtue of the treaty of Luneville, the Grand Duke was
deposed, the state erected into a kingdom under the name of Etruria, and Louis,
son of the Duke of Parma, placed on the throne. This prince dying in 1803, his
infant son, Charles Louis, succeeded, under the regency of the Queen-mother, Maria
Louisa. (The heads of both were impressed on the coinage, and their manner of
arrangement served to distinguish between the old class of coins and a new series
then introduced ; on the former, they were placed vis-a-vis, or facing each other ; on
the latter, side by side, the infant being in front.)
In 1808 the Kingdom of Etruria was dissolved, and the territory annexed to the
French empire, though subject to the nominal rule of Eliza, the sister of Napoleon.
In this condition it continued until the overthrow of that personage in 1814, when
the ancient title of Tuscany was restored, with the former rank of a grand-duchy,
and Ferdinand III. recovered the throne of which he had been deprived for thirteen
years. His reign extended to 1824, when he was succeeded by Leopold II., his son,
present Grand Duke.
During the period thus briefly reviewed, there have been three systems of silver
coinage, and but one of gold.
Gold Coins. These are the ruspone, and the zecchino gigliato, or sequin. They
are both meant to be of fine gold, without allowance ; and the latter is the one-third
of the former, in weight and value. The ruspone should weigh 8 den. 21 grains, or
at the rate of 324 pieces to the libbra, or pound ;t making in our terms 161-5 troy
grains for the ruspone, and 53-8 grains (which is the usual ducat or sequin weight)
for the zecchino.
The nominal value of the ruspone is 40 Tuscan lire or livres, but there is usually a
premium upon gold (against silver) of 7 to 8 per cent. ; so that the real value is
about 43 lire for the ruspone, and 14 lire 10 soldi for the sequin.
* Letter of J. Ombrosi, Esq., late U. S. Consul at Florence, to the Treasury Department, February 1834. Various
items of information are derived from this source,
t According to Kelly, the Tuscan libbra weighs 5210 grains troy. We deduce the same basis from Becher.
136
TUSCANY.
Silver Coins. These are somewhat intricate, on account of their having three
different units or starting points ; which, however, bear a certain relation to each
other. The first series is based upon the paolo or paul, the second upon the lira, and
the third upon the fiorino or florin ; and all of these are current. It will be useful to
observe that the paul is equal to two-thirds of the livre, and that the paul and livre
together are equal to the florin. Thus in our money the paul is worth 10-4 cents,
the livre 15-6 cents, and the florin 26 cents.
The first series originated in 1738, and consisted of five pieces. The largest was
the piece of ten pauls, (died paoli,) and was called (after the Grand Duke's name)
first francescone, afterwards leopoldone. The smaller coins were of five, two, one,
and one-half paul. The paul was subdivided into 40 quaitrini. The legal fineness
of these coins was \h, or 917 thousandths ; and the weight, at the rate of 23} deniers,
or 27-3 grammes, or 424-7 grains troy for the piece of ten pauls.
The second series was that introduced by the new dynasty in 1803. It consisted of
the ten livre {died lire), five, one, and one-half livre. They were at the fineness of
11£ parts in 12, or 958 thousandths; the weight of the ten livre piece was 803 grains
Tuscan, or 608-8 grains troy. These coins are now very rare.
The third series originated in 1826. It consists of the fiorino or florin, with its half
and quarter; the fineness H, or 917 thousandths, and the weight, 106-2 troy grains
per florin. This piece is in effect the quarter of a leopoldone ; and it is subdivided
into 100 quattrini. Besides these, there are sundry pieces of billon, such as the crazia
or ^ paul, the piece of 10 quattrini or tV florin, &c.
The silver coins of Tuscany, especially of the more recent dates, are found to be of
better fineness than the legal standard, and are in fact almost equal to British sterling.
Accounts are kept in livres or lire of 20 sous or soldi, subdivided into 12 deniers or
denari. Fifteen leopoldones are equal to 100 I.
A large part of the gold dust raised in Guinea, is brought to Leghorn. It is there
cast into bars, and after a mint-assay at Florence, finds its way, for the most part, to
Geneva and the French dominions.
GOLD COINS.
DENOMINATION.
DATE.
EEI6N.
WEIGHT.
GES.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ruspone
1738-65
Francis III.
160
997
6 87
do. .
1765-92
Leopold.
160
997
6 87
Sequin .
1765-79
do.
53
997
2 27 6
Ruspone
1795-1800
Ferdinand III.
160-5
997
6 89 1
TUSCANY.
137
GOLD COINS (continued).
DENOMINATION.
DATE.
REIGN.
WEIGnT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Ruspone
1801-03
Louis I.
161
998
6 91 9
do. .
1803-07
Charles I. and Maria Louisa.
161
998
6 91 9
do. .
1824-34
Leopold II.
161
999
6 92 5
Sequin .
1824-34
do.
53-5
999
2 30 1
Eighty florin piece .
1827
do.*
506
993
21 76 8
SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GRS.
FINENESS.
THOUS.
VALUE.
D. C. M.
Francescone .
1740-65
Francis III.
419
920
1 03 8
Half do.
1740-65
do.
198
919
49
Leopoldone
1765-91
Leopold.
421
920
1 04 3
Half do.
1779-87
do.
205
917
50 6
Ten pauls
1791-1801
Ferdinand III.
419
920
1 03 8
do. .
1803
Louis I.
419-5
918
1 03 7
do. .
1803-07
Charles I. and Maria Louisa.
420
917
1 03 7
Ten livres
1803-07
do.
607
962
1 57 3
Five livres
1803-07
do.
303
962
78 5
One livre
1803
do.
59
959
15 2
Half do.
1821
Ferdinand III.
28-5
960
7 4
Ten pauls
1814-24
do.
421
920
1 04 3
Five pauls
1820
do.
209
920
51 8
Leopoldone
1830-34
Leopold II.
422
925
1 05 1
Half paul
1832
do.
21
922
5 2
Florin
1826-28
do.
] 05-5
925
26 3
Half do.
1827
do.
52
925
13
* This piece (noticed by Mr. Ombrosi) was probably not coined after 1827, when it was introduced. It is not now
current.
35
138 UNITED STATES.
UNITED STATES.
The coinage and monetary system of our own country, may properly claim in this
treatise a somewhat extended notice.
The territory which now bears the name of The United States, was in the posses-
sion of savage tribes until the seventeenth century. In 1607 the first company of
emigrants arrived from Europe, and established the colony of Virginia. At intervals
of a few years, new settlements were made in various other quarters ; and before the
close of that century, the foundations were laid for twelve of the thirteen colonies,
which eventually became a Union of free States.
The earliest metallic currency of each colony consisted chiefly of the coins of its
mother country. In Massachusetts, however, (and doubtless in all the settlements,)
specie was so scarce, that for many years it was common to pay taxes, and to carry
on internal trade, by transferring, at certain rates, cattle, skins, and the products of
the soil.* Various considerations, enhanced by the inconvenience and uncertainty of
such a medium, induced the Massachusetts colony in 1652 to establish a mint. The
law enacted for that purpose, provided for the coinage of shillings, sixpences, and
threepences, to be of the fineness of sterling silver (925 thousandths), and by a
reduction of weight, to be " two-pence in the shilling of less valew than the English
coyne."f The mint met with much opposition from the British crown, whose
prerogative was invaded by its operations, but continued in existence more than
thirty years, during which time a considerable amount of coin was issued. These
coins are now extremely scarce, and indeed are not to be found except in the
cabinets of the curious. Only the shilling has been seen at this mint, the best
specimens of which, at this day, weigh from 64 to 67 grains, and by a recent assay
prove to be 926 thousandths fine; the intrinsic value, therefore, is about 16| cents.
They are a rude coinage, very thin, and of various diameters ; and there is some
variety in the impressions ; but the date of 1652 appears on all of them. The
device of a pine tree on one side, has given to the series the common designation of
the " pine tree coinage." They were taken in England at a discount of one-fourth
of their home value.
* See Felt's " Historical Account of the Massachusetts Currency," 1839. This work contains much interesting and
valuable information.
f The mint indenture or contract required that the shilling should weigh 72 grains, and the smaller pieces in
proportion. As the English shilling of those days weighed 93 grains, there appears an unaccountable miscalculation.
An abatement of one-sixth of the value would have made 77J grains.
UNITED STATES.
139
The example of Massachusetts was followed by Maryland, where silver and copper
coins were issued in 1662. These pieces were to be equivalent to the British, but
in reality were not much heavier than the like denominations coined at Boston.
These were the only issues of silver coin previous to the independence of the
States. There were, however, various pieces of copper struck at different periods ;
as, in 1694, the half-penny for the Carolinas, a two-penny piece and penny in 1723,
another penny in 1733, and a half-penny for Virginia in 1773. After the revolu-
tionary struggle of 1776-82, and before the establishment of the National Mint,
there were various emissions of silver and copper by States and individuals, which
will be noticed farther on.
As the population and trade of the colonies increased, foreign gold and silver
coins found their way into the country, and became a part of the circulating medium.
These were chiefly the guinea, the joe and its half, the doubloon and pistole, in gold ;
the dollar and its parts, the pistareen and its parts, and the British shilling and six-
pence, in silver. French crowns were not known until the Revolution, when they
became common. But of the specie currency, no piece was so well known as the
Spanish-American dollar ; insomuch that, about the epoch just referred to, it became
the effective standard or unit of our moneys.
The pound of the colonies was at first the same as the pound sterling of England,
being simply a money of account. This relation, in process of time, became greatly
altered, in consequence of excessive issues of paper by the colonial authorities ; but
as these issues were greater in some of the colonies than in others, the proportion
was very unequal and complicated. The following were the rates of the colonial
pounds, in sterling pounds and Spanish dollars, after the Revolution.
Pound sterling
Spanish dollar
NEW ENGLAND
AND VIRGINIA.
£ S. d.
16 8
6 0
NEW YORK AND
NORTH CAROLINA.
£ 5. d.
1 15 64
0
MIDDLE STATES.
£ S. d.
1 13 4
7 6
SODTH CAROLINA
AND GEORGIA.
£ S. d.
1 0 8|
4 8
Peace was scarcely concluded, before the preliminary step was taken towards a
national coinage. Congress directed the Financier of the confederation, Robert
Morris, to lay before them his views upon the subject of coins and currency. The
report was presented early in 1782, and is stated by Mr. Jefferson to have been the
work of the Assistant Financier, Gouverneur Morris. It will be interesting to trace
140 UNITED STATES.
the steps by which three grand benefits have been secured to this country ; the
establishment of a uniform national currency — the rejection of mere moneys of
account, or rather, making them the same with real moneys — and the adoption of a
decimal notation.
All these objects were in the eye of the Assistant Financier. He first laboured to
harmonize the moneys of the States ; and found that the nVsth part of a dollar
(Spanish) was a common divisor for the various currencies. Starting with this
fraction as his unit, he proposed the following table of moneys :
Ten units to be equal to one penny.
Ten pence one bill.
Ten bills one dollar, (about two-thirds of the Spanish dollar.)
Ten dollars one crown*
The report contains this observation : " Although it is not absolutely necessary, yet
it is very desirable, that money should be increased in a decimal ratio ; because by
that means, all calculations of interest, exchange, insurance and the like, are
rendered much more simple and accurate, and of course more within the power of
the great mass of the people."
The subject was discussed repeatedly in Congress, but no further step was taken
until 1784, when Mr. Jefferson, on behalf of a committee appointed for the purpose,
brought in a report, disagreeing with that of the Financier, except as to the decimal
system. The following remarks occur in this document : " The most easy ratio of
multiplication and division, is that of ten. Every one knows the facility of decimal
arithmetic. Every one remembers, that when learning money arithmetic, he used to
be puzzled with adding the farthings, taking out the fours, and carrying them on ;
adding the pence, taking out the twelves, and carrying them on ; adding the shillings,
taking out the twenties, and carrying them on ; but when he came to the pounds,
where he had only tens to carry forward, it was easy and free from error. The bulk
of mankind are schoolboys through life. Certainly, in all cases, where we are free to
choose between easy and difficult modes of operation, it is most rational to choose
the easy. The Financier, therefore, in his report, well proposes that our coins should
be in decimal proportions to one another."
He found fault with the unit of Mr. Morris, first, on account of its diminutive size :
" A horse or bullock of eighty dollars value would require a notation of six figures, to
wit, 115,200 units;" secondly, because of its want of correspondence in value, with
any known coins. In lieu of this the Spanish dollar was proposed, as being of
* This last coin was to be of gold. He apologized for introducing the name of crown, in a country where that
emblem had lost favour, by stating that his project was to have on the coin the representation of an Indian, with a bow
in his left hand, and thirteen arrows in the right, with his right foot on a crown. (Sparks's Life of Gouverneur
Morris, i. 273.)
DNITED STATES. 141
convenient size, capable of easy actual division, and familiar to the minds of the
people. It was added, that the course of our commerce would bring us more of this
than of any other foreign coin ; and besides, the dollar was already as much referred
to as a measure of value, as the respective provincial pounds. Upon this basis, it
was proposed to strike four coins, viz. :
A golden piece, of the value of ten dollars.
A dollar in silver.
A tenth of a dollar, also in silver.
A hundredth of a dollar, in copper.
The Assistant Financier conceded something to Mr. Jefferson's views, but adhered
to the main principles of his own scheme. It would be out of place to enter into the
arguments oilered on behalf of each proposition; it is sufficient to say, that Congress
in 1785 adopted Mr. Jefferson's report, and in the following year made legal provision
for a coinage upon that basis*
All these proceedings were, of course, under the Confederation, which lasted from
1778 to 1787. An article in that compact provided as follows: "The United States,
in Congress assembled, shall have the sole and exclusive right and power of regulating
the alloy and value of coin struck by their own authority, or by that of the respective
States." Some of the States issued copper coins during that period. How long they
continued current cannot be stated ; but at this day, those of them that remain, are
in the custody of coin-collectors. The cent of Massachusetts varies in weight from
148 to 164 grains; the New Jersey piece, 128 to 154 grains; the Connecticut coin
is the most irregular, varying from 96 to 144 grains. The Vermont cent of 1786,
weighs about 110 grains. There are also other varieties, particularly the "Nova
Constellatio," of thirteen stars, and another piece with the same significant number
of rings, conjoined, both of which were coined in Massachusetts^
The Constitution of 1787 arrested all these local issues, and vested the right of
* The interest taken in this subject by General Washington, and his approval of Mr. Jefferson's plan, appear by the
following passage in a letter to Mr. Grayson, Member of Congress.
" I thank you for the several articles of intelligence contained in your letter, and for the propositions respecting a
coinage of gold, silver, and copper; a measure which, in my opinion, has become indispensably necessary. Mr.
Jefferson's ideas upon this subject are plain and simple ; well adapted, I think, to the nature of the case, as he has
exemplified it by the plan. Without a coinage, or unless some stop can be put to the cutting and clipping of money,
our dollars, pistareens, &c. will be converted, as Teague says, into Jive quarters; and a man must travel with a pair of
scales in his pocket, or run the risk of receiving gold at one-fourth less by weight than it counts." (Writings of
Washington, edited by Sparks, ix. 125.)
The illustrious Father of his Country took a lively interest in the national coinage. The mint was repeatedly
noticed in his messages to Congress. (See Sparks, xii. 25, 32, 53, 63.) It was his practice, whilst President, to visit
the institution frequently ; the seat of government being then at Philadelphia.
f In this place it may be proper to notice a coinage of silver, bearing the name of "J. Chalmers, Annapolis," and
dated 1783. The specimens reserved in the collection at the mint, are a shilling, sixpence, and threepence, weighing
57, 27, and 10 grains respectively ; of course, very carelessly proportioned.
36
142 UNITED STATES.
coinage solely in the general government. The establishment of a mint was,
however-, still delayed. In the well known report on moneys, weights and measures,
made to Congress in 1790 by Mr. Jefferson, then Secretary of State, it was remarked:
"The experiment made by Congress, in 1786, by declaring that there should be one
money of account and payment through the United States, and that its parts and
multiples should be in a decimal ratio, has obtained such general approbation, both
at home and abroad, that nothing seems wanting but the actual coinage, to banish
the discordant pounds, shillings, pence, and farthings of the different States, and to
establish in their stead the new denominations."
On the 2d April, 1792, a code of laws was enacted for the establishment and
regulation of the mint, under which, with slight amendments, the coinage was
executed for forty-two years.
The denominations of coin, with their rates, were as follows :
Gold. The eagle of ten dollars, to weigh 270 grains, the half and quarter in
proportion ; all of the fineness of 22 carats, or 917 thousandths.
Silver. The dollar of 100 cents, to weigh 416 grains; the half, quarter, tenth or
dime, and twentieth or half-dime, in proportion ; the fineness to be 1485 parts in
1664* or 892-4 thousandths.
Copper. The cent, to weigh 264 grains ; the half-cent in proportion.
Since the act of 1792, the following alterations in the standards have been made :
On the 14th January, 1793, the weight of the cent was reduced to 208 grains ; the
half-cent in proportion/]"
January 26th, 1796. President Washington issued a proclamation (as he had
been empowered to do by law), that "on account of the increased price of copper,
and the expense of coinage," the cent would be reduced to 7 dwts. or 168 grains,
and the half-cent in proportion. The copper coins have since remained at this
standard.
June 28th, 1834. An act was passed, changing the weight and fineness of the
gold coins, and the relative value of gold to silver. Before stating the alterations, it
may be proper to observe, that the estimate of gold as being worth fifteen times as
much as silver, which was the original basis, was found too low at the market value ;
which, although always fluctuating, was nearer sixteen to one, upon a general
* This was an arithmetical nicety, deduced from a weight of 416 grains, of which 371:1 grains must he fine metal;
this being considered the average content of a Spanish dollar. The estimate was slightly erroneous, and makes our
dollar of a little less value; the effect of which has been beneficial to our national coinage, as the difference, though
not appreciable in ordinary currency, makes a considerable gain upon recoinage in large sums. See letter of Dr.
Moore, late Director of the Mint, to a select committee of Congress, in 1832.
t The mint was not fully in operation until January 1795. Before that time it was rather engaged in experiment-
ing; hence the variety of specimens, in silver and copper, anterior to that date, which are now so much in request
among the virtuosi. The most noted of these is the Washington Cent, of which some mention has been made at page 15.
UNITED STATES. 143
average. The effect of our legal proportions was to reduce the coinage of gold, and
to restrain its circulation ; being always at a premium, the coin was immediately
exported to Europe, in the course of trade, and there quickly wrought into other
shapes.
To provide a remedy for this evil, engaged the attention of some of our most
eminent statesmen for a series of fifteen years* At length, in June 1834, the
weight of the eagle was reduced by law to 258 grains (the parts in proportion), of
which 232 grains must be fine gold, making the fineness 21 carats 2if car. grains,
or 899isbW thousandths. This was an increase of GtVVV per cent, on the former value
of gold. The silver coinage was not changed.
The disadvantages of the complex standards of fineness, both in gold and silver,
which were difficult to be expressed or remembered, and very inconvenient in regard
to the frequent calculations which were based upon them, early determined the
present Director to endeavour to effect an improvement. The standard of nine-
tenths fine, as adopted in France and some other countries, was obviously the most
simple, and, upon every consideration, the most suitable. To bring our silver coins
to that proportion, without changing the amount of fine silver in them, it was only
necessary to put less copper, by 3i grains, in the dollar, reducing its weight to 412J
grains. The weight of the gold was not to be changed, but the fineness increased
about three-fourths of one thousandth, a difference far within the scope of the legal
allowance, and of course hardly appreciable. These proportions were incorporated
in a carefully digested and consolidated code of Mint Laws, which was enacted by
Congress in January 1837. By that act, the eagle is to be 900 thousandths fine,
and to weigh 258 grains ; the half and quarter in proportion ; and the dollar, at the
same fineness, to weigh 412i grains; the parts in proportion.f The allowed devia-
tion in fineness, for gold, is from 898 to 902 ; for silver, 897 to 9034
* The first movement appears to have been made in 1819, by Mr. Lowndes, as chairman of a committee in Congress,
who proposed to raise the value of gold to 15-6 against one of silver. Mr. Gallatin, Mr. Ingham, and Mr. C. P. White
proposed very nearly the same proportion, at different times. Dr. Moore, then Director of the Mint, offered a choice
of 15-777 with a fineness of eleven-twelfths, or 15-865 with a fineness of nine-tenths. Mr. Sanford's proportion was
15-9. Eventually, the rate of 16 to 1, which was favoured by the existing administration (Gen. Jackson's), was adopted.
It was feared at the time that the habitual state of the market of precious metals would not justify so high a valua-
tion. It is a remarkable fact, however, that our gold and silver coins have ever since that date passed concurrently,
without premiums either way. How long this even pace is to continue will depend upon many contingencies, but
especially upon the mining operations. The effect of this valuation upon the labours at the mint, has been very
decided. During the eight years which have succeeded the change of ratio, (1834—41,) the coinage of gold at the
mint and its branches, has been sixteen millions of dollars, exclusive of the recoinage of pieces of old standard ; while,
in the eight years immediately preceding (1826-33), the amount was less than four millions. The coinage of silver,
from 1826 to 1833, was nineteen and a half millions ; from 1834 to 1841, twenty millions.
f The relative value, therefore, of silver to gold, is 15-9884 to 1.
X The practical limits here, are, for gold 899 to 901 ; silver, 898 to 902.
144
VENICE.
The following is a recapitulation of the various standards, of the gold and silver
coins.
GOLD EAGLE.
SILVER DOLLAR.
WEIGHT.
GES.
FINENESS.
THOUS.
WEIGHT.
GES.
FINENESS.
THOUS.
Act of April 2, 1792
Act of June 28, 1834
Act of January 18,1837 .
270
258
258
916-7
899-2
900
416
412-5
892-4
900
It will be proper, in concluding this article, to explain briefly the organization of
the Mint of the United States. Until the year 1835 there was but one institution,
which was located at Philadelphia. In that year three branches of the mint were
created by Act of Congress. Two of these were for the coinage of gold only, and
were to be situated at the towns of Charlotte in North Carolina, and Dahlonega in
Georgia — central points of the gold mining region. The third branch was for both
gold and silver, and located at New Orleans, the commercial emporium of the
southwest. These three institutions, which, in the view of the law are not distinct
mints, but rather branches of the mint, are respectively managed by Superintendents,
who are under the control of the Director of the parent mint. The branches went
into operation in the year 1838. Their coinage is uniform with that of the
establishment at Philadelphia, being systematically tested there for approval.
The whole mint establishment, thus constituted, is itself a bureau or branch of the
Treasury Department of the general government, and is under the supervision of the
Secretary of the Treasury. Its operations are annually reported through the Presi-
dent to Congress, and are laid open to the public through that body.
VENICE.
Venezia.
This ancient city and republic, so long renowned for its wealth, power, and
commercial enterprise, but now in comparative decay, would have been prominent
in a work like the present, a century ago. The sequin (zecchino) of Venice was
WEST INDIES. ]45
formerly a current coin in three continents, and seemed to occupy the place which in
later times has fallen to the Spanish and Mexican dollar. This coinage declined at
the close of the last century, and there appears to be no coin of gold or silver properly
Venetian' (except some small pieces issued by Austrian authority) since the French
invasion of 1797. Having fallen into collision with that republic, it became, in that
year, a prey to Bonaparte's army, and has never regained its independence. By the
treaty of Campo-Formio it was ceded to Austria, in 1807 it was annexed to the
Milanese kingdom of Italy, and in 1815 became a part of the Lombardo-Venetian
kingdom, subject to Austria.
The most important coins of Venice were the sequin above noticed, which was
equal in all respects to the same coin of Tuscany (which see), and the tallaro or
dollar, weighing about 438 grains, at 833 thousandths fine, and worth 98 cents*
For the present coins of Venice, see Austria and Milan.
WEST INDIES.
All of the West India islands, except Hayti or San Domingo, are dependencies of
European nations. Without giving a minute table of them, it will be sufficient to
state the following general divisions:
To Great Britain belong Jamaica, Bahamas, Barbadoes, Trinidad, and numerous
smaller islands. To Spain, Cuba and Porto Rico. To France, Guadcdoupe, Mar-
tinique, and a few others. To Netherlands, Curacao. To Sweden, St. Bartholomew.
To Denmark, St. Croix, St. Thomas, and St. John. Hayti, the second island in size,
and perhaps the first in population, formerly a possession of France and Spain, is
an independent republic.
There appears to have been no gold coin struck by any of the governments for the
West Indies especially. Of silver coins there are a few varieties.
British Possessions. In 1822, coins were struck in England for the colonies,
consisting of the quarter dollar, the eighth, and the sixteenth. They are of the
average weight and fineness of the Spanish coin, of like denominations.
Danish Possessions. From 1763 to 1767, pieces were coined of 24 and 12 skillings,
in 1816, 20 and 10 sk. pieces, and in 1837 a piece of 2 sk.
Hayti. On the breaking out of the French Revolution in 1791, this island was
thrown into a commotion which lasted for many years. In 1806 the French part of it
* On Venetian coins the name of the Doge appeared, but usually there was no date. We may add therefore that
Aloise Mocenigo was in the chair from 1763 to 1779 ; Paul Reiner to 1788 ; and Louis Manin to the end of the republic.
37
146
WEST INDIES.
became a kingdom, or military despotism, consisting entirely of negro citizens, who
had previously been slaves, with Dessalines, a black man, for its monarch. He was
succeeded by Christophe, or Henry 1., who put an end to his own life in 1820. In
another part of the island a republic had already been established, under the
presidency of Petion. He was succeeded by J. P. Boyer, who in 1822 became
master of the whole island, and is still at the head of the so-called republic.
The coins of Hayti, so far as we have seen, consist of four denominations, viz. :
50, 25, 12, and 6 centimes. The subdivision is not mathematically correct, but there
is more precision in that particular, than in weight and fineness.
The West India islands generally depend upon the coins of Great Britain and
Spanish America for their metallic currency. Sovereigns, shillings, doubloons, and
dollars, seem to be every where familiarly known. The Portuguese half-joes, and a
counterfeit of them, not greatly inferior in fineness, said to have been manufactured
in the United States, were formerly current, but are now becoming rare. It has also
been customary to cut up Spanish dollars into fragments for change, putting a stamp
of authority upon each section. In Trinidad, to prevent the exportation of dollars,
the expedient was resorted to (as it is said) of cutting a piece out of the centre,
equal to a real, or one-eighth of a dollar, more or less. Thus the dollar was kept at
home, and made to yield nine reals. Such pieces were called cut dollars; the whole
pieces were named round dollars.
The specie currency of British West India is at present regulated by an Order in
Council, of September 1838. The following table will exhibit the regulations, with
other statistics*
VALUE, BY ORDER IN COUNCIL.
COST FOR EXPORT.
IN DOLLARS.
BRITISH
STERLING.
JAMAICA
CURRENCY.
IN DOLLARS.
JAMAICA
CURRENCY.
£ s. d.
£ s. d.
£ s. d.
Royal doubloons of Spain, parts at >
the same rate ... \
§16 00
3 4 0
5 6 8
$17 12
5 14 2
Patriot doubloons of all the Spanish- }
American republics, and parts at >
16 00
3 4 0
5 6 8
16 80
5 12 0
the same rate ... j
Silver dollar, royal or patriot
.
.
1 05
7 0
5 00
1 13 4
British shilling — the other denomi- )
nations in proportion . . $
•
•
■
26^
1 9
* For this table, with other details, we are indebted to R. Monroe Harrison, Esq., U. S. Consul at Kingston,
Jamaica. We have also the advantage of a letter from David Rogers, Esq., U. S. Consul at St. Croix.
\V E S T P II A L I A.
147
The nominal or par value of the silver dollar is 6s. 8d., of the British sovereign
33s. Id., and of the shilling Is. 8d., in Jamaica currency.
SILVER COINS.*
DENOMINATION.
DATE.
GOVERNMENT.
WEIGHT.
GES.
FINENESS.
TIIOUS.
VALUE.
D. C. M.
Quarter dollar
1822
George IV. of Great Britain.
102-5
895
24 7
Eighth do.
1822
do.
50
895
12 1
Twenty-four skilling
1763-65
Danish-American.
96
Twenty do.
1816
do.
73-5
630
12 5
Ten do. .
1816
do.
36
630
6 1
Two do.
1837
do.
18
Twenty-five centimes
Year 14
Potion, President of Hayti. J
38
824
8 4
Twelve do.
Year 14
do.
22
710
4 2
Twelve do.
Year 11
Republic of Hayti.
13-5
590
2 1
Fifty do.
Year 25
Boyer, President.
86-5
Twenty-five do.
Year 15
do.
35-5
Twelve do.
Year 24
do.
21
Six do. .
Year 15
do.
8-5
WESTPHALIA.
Westphalen.
This was a kingdom created by Napoleon in 1807, for his brother Jerome,
consisting mainly of territories in the north and west of Germany, which are now a
part of Prussia. Both gold and silver coins were issued for this brief monarchy, and
are occasionally met with in miscellaneous parcels of German money. The gold
* There are some pieces of West India currency, which we cannot place in the table, because they are worn
perfectly smooth, and their original cannot be determined. They are higher in quality than Spanish or French coin,
and lower than British, being 918 thousandths fine. They are stamped with the figures 7, 10, 14, &e. and are
worth about so many cents of our money.
t Another piece was 890 fine, showing a gross irregularity. These pieces are said to have been extensively
counterfeited in this country, for export to Hayti.
148
WURTEMBBRG.
coins were ten-thaler pieces, of several dies, but uniform in weight and fineness,
and upon a level with those of Brunswick, Saxony, &c. (which see.) The silver
coins were florins, or two-third pieces of nearly fine silver, as in Brunswick and
Hanover ; convention-dollars, of ten to the fine mark, and pieces of 2 franken or
francs, of the French standard.
WURTEMBERG.
This country, one of the most considerable states of Germany, was of the grade of
a duchy until 1803, when it was raised to an electorate, and in 1806 was made a
kingdom, through the influences of the French Emperor.
The Duke Charles Eugene reigned from 1737 to 1793. Louis Eugene succeeded,
and reigned less than two years. Frederick Eugene enjoyed the sovereignty but
little longer. In 1797 he was succeeded by Frederick William, who as already
stated, passed through two gradations of title, to that of King. His son William,
present monarch, ascended the throne in 1816.
Gold Coins. The carolin ceased to be coined about a century ago. The only
gold piece is the ducat, of the standards of the empire. (See Germany.)
Silver Coins. These are the convention-thaler, of ten to the fine mark, discon-
tinued of late years ; the kronen-thaler, or crown, the gulden and double gulden, and
the new gulden or florin coined under the mint-conventions of 1837-38, besides the
scheidemiinze or small coins.
The coins of Wurtemberg are scarcer in this part of the world, than those of most
other German states. The new gulden has not been seen as yet at this mint.
GOLD AND SILVER COINS.
DENOMINATION.
DATE.
REIGN.
WEIGHT.
GKS.
FINENESS.
TUOUS.
VALUE.
D. C. 51.
Ducat
1790
Charles.
53
980
2 23 7
do.
1818
William.
53
980
2 23 7
Convention-thaler
1760-84
Charles.
428
836
96 4
do.
1806
Frederick.
430
833
96 5
Crown
1818-33
William.
454
875
1 07
Double gulden
1824
do.
392
750
79 2
Gulden .
1824
do.
195
750
39 4
CHAPTER HI.
GOLD AND SILVER BULLION.
The term bullion* is commonly applied to gold or silver, reduced from the ore, but
not manufactured. At the mint it is taken in a wider sense, and includes all gold
and silver suitable for coining operations, with the exception only of our own coin.
In this sense the term will be understood in the remarks which follow.
The precious metals come to the mint in a great variety of forms, from the first
reductions at the mines to the most delicate and elaborate plate and ornaments.
Indeed, nothing but ores, and very base alloys,t are rejected as unsuitable for minting
operations. It is presumed that some details upon the various kinds of bullion (of
which we have seen no methodical treatise) will be interesting to the general reader,
and especially useful to dealers. The information proposed to be given, respects the
physical characters of the various sorts of bullion, the countries whence derived,
and the usual fineness ; with precautions against fraud, in cases where it is found to
occur.
The two metals will be treated of separately, and a third division will be given to
those metals in a combined state.
GOLD BULLION.
This is to be considered as of two kinds : I. Unwrought. II. Manufactured.
1. Of the first sort, are the various forms in which the metal comes from the
mining regions, and which may be comprised within the four following: 1. Washed
grains, or gold dust. 2. Amalgamated cakes and balls. 3. Laminations. 4. Melted
bars, and cakes.
* Our standard dictionaries concur in deriving this word from the French billon, which signifies base coin. (See
a note at page 9.) Other authorities have more carefully traced it to the Latin bulla, applied to ornamental balls of
gold or silver, anciently worn on certain occasions.
f Such as counterfeit coins, containing a small proportion of good metal ; also bars and lumps, melted down from the
sweepings of jewellers' shops, and holding a doubtful rank between bullion and solder.
38
150 GOLD GRAINS.
1. WASHED GRAINS.
These are shapeless particles or masses, in the state in which they remain after
the simple process of washing from the rich alluvial sands. They are of all sizes,
from the massive lump to the minutest spangle. The latter form is by far the most
usual, insomuch that it is aptly enough called gold dust. There are, however,
remarkable exceptions on record, and nearly every mining region can boast of its
large lumps of gold. Some of these are deserving of special notice.
In Cabarrus County, North Carolina, a lump was found which weighed, in the
crude state, 28 pounds avoirdupois. It lay near the surface of the ground, and was
dug up by a negro. This happened at the commencement of the mining operations*
The lump was melted, and cast into bars ; and is believed to have been the same
parcel which was brought to the mint in May 1804, and which constituted the first
deposit of United States gold. Its value was $4850. Many heavy masses have
since been found, but none equal to this. The largest native lump received from
Georgia, weighed 35£ ounces troy, and was worth $700.
In South America, the largest pepita found in Peru weighed 26i pounds.t Ano-
ther occurred in New Grenada, of 27i pounds.^ A lump in the possession of the
French Academy, weighs about 37| pounds troy, and being 992 thousandths fine, is
worth over $9200 ; the French valuation is 48,000 francs.§ Baron Humboldt, in a
recent essay, || states that the largest lump (goldgeschiebe) found in the Russian mines,
weighs 24|f Russian pounds, (equal to 27 pounds troy,) and is preserved in a
collection of minerals at St. Petersburg. Thus the lottery of gold mining, in every
country, relieves its blanks by occasional brilliant prizes.
In most forms of bullion not improved by art, a practised eye can judge with
tolerable accuracy of the quality of the metal. There is much uncertainty, however,
in pronouncing upon gold dust, which is commonly soiled and dimmed with earthy
matter. Still, if there is a large alloy of silver, the paleness of colour will be manifest.
Gold in its native state is invariably alloyed with silver, in a greater or less
proportion. In some locations, particularly the Brazilian mines, palladium^ is found
mixed with the gold ; and in New Grenada platinum is often present.** Other baser
* Silliman's Journal, vol. ix. f Mentioned by Baron Humboldt. f Ure's Dictionary of Mines, &.C.
5 Ann. de Chimie, vol. Ixxii. 52. || Karsten's Arcliiv., Berlin, 1839.
IT Tins valuable metal was discovered by Wollaston in 1803, accompanying platinum. It was first found in combi-
nation with gold, a few years later, by Joseph Cloud, formerly Melter and Refiner in the United States Mint. It is
now principally obtained from Brazil gold, and is very useful in some of the arts, as in dentistry and the construction of
delicate machinery. Our assay-balances are chiefly made of this metal.
** On one occasion, a parcel of gold dust from the latter country, weighing 356 ounces troy, was melted at this
mint, and found to contain 7J ounces of platinum. Being too stubborn to yield to furnace-heat, it remained as a cake
in the bottom of the crucible, and was found to contain nearly J of one per cent, of gold.
GOLD GRAINS. 151
metals, such as tin, lead, &c. are contained in native gold, in very small proportion,
but often sufficient to render the texture brittle.
There certainly is room for fraudulent practices in the traffic of gold dust, but our
experience does not prove that it is much to be apprehended. It has been said that
the Africans intermix small particles of base metals in the gold resulting from their
washings, but the fact is not borne out by trials at this mint.
It is not unusual for the miners, especially in our own country, to melt down the
grains, and cast the metal into bars or cakes, preliminary to transmission for coinage.
This form is the most advantageous for all parties. Owing to the presence of dirt
and moisture, a considerable loss (varying from li to 10 per cent, of the weight, but
ordinarily about 3 per cent.) invariably accrues in the fluxing of native dust, and it is
desirable that this should fall within the personal cognizance, as well as responsi-
bility, of the owner. Grains are also less convenient and secure in transportation,
and too much exposed to diminution by accident or otherwise.
The sources whence the gold dust is derived which is brought to the Mint of the
United States, are, the mines of our southern States, of Mexico, Central America,
various parts of South America, and the western coast of Africa.
Before entering into a detail of these localities, it may be remarked, that from the
mines of our own country gold is brought to the mint in the three forms of dust, amal-
gam, and bars ; but (except in certain instances of fraud, as will hereafter be noticed,)
there is, as to fineness, no marked preference for either of these forms ; so that what
is said of one sort is so far applicable to the rest. Here also it should be observed,
that the classifying of gold by countries, or even by districts, is vague and unsatis-
factory. Mines in the same region, though tolerably uniform within themselves
as to the customary fineness of their product, are widely different from each other.
Thus in Georgia, one mine yields habitually gold of 980 to 990 thousandths
fine, while another, not many miles distant, produces the inferior fineness of 830.
The variation is still more striking in North Carolina, where the gold is from 580
to 980 fine.
Virginia gold is seldom brought to the mint in the form of dust, and will therefore
be more properly considered under a future head.
The average of North Carolina gold, taking the estimate from all the deposits at
the Charlotte Branch Mint, was, in 1839, 841 thousandths, and in 1840, 844 thou-
sandths. Depositors often receive both silver and gold as the avails of their bullion,
in consequence of the large proportion of silver present.
The gold of South Carolina, as compared with that just mentioned, is much less in
amount, more limited in its range of fineness, and of a higher average. It, is seldom
below 900, and varies from that limit to 990 ; the mean fineness being about 925.
Georgia gold is very variable, but in the aggregate its quality is superior to any yet
152 GOLD GRAINS.
mentioned. It has been found as low as 820, and occasionally reaches as high as
995 ; the nearest approach to absolute purity of any gold ever discovered. The
mean of the whole production may be set down at 950. Most of the gold deposited
for coinage at the Branch Mint of Dahlonega, in Georgia, is in the form of grains
from washings ; but it reaches this mint as often in bars, and occasionally in
amalgam.
Gold is occasionally found in Alabama and Tennessee, and the quality is as good
in the average as that of Georgia.
Passing from our gold region, which is comprised within the six States already
named, the gold dust received from Mexico comes next in view. The quarters from
which it is quoted are California and Santa Fe. Of the former we can say nothing
decisive. Santa Fe is an entrepot for overland traders, situated near the head waters
of the Rio del Norte, and eastward of our Indian reservations. The gold from this
region is of a high standard, but its most remarkable feature is its uniformity in
fineness ; insomuch that the coin of the country from which it emanates does not lie
within closer bounds. The compass is from 941 to 952 thousandths, but it is safely
rateable at 950.
Neiv Granada, long famed for the production of grain-gold, sends a considerable
proportion to this mint. Its fineness varies from 825 to 875, and averages 850* It
is usually marked by the presence of platinum, in a minute proportion.
The gold of Brazil is chiefly carried to England, and is very variable in fineness.
A considerable quantity of gold dust is brought here from other parts of South
America, doubtless from the ports on the Pacific side, but the information is too
vague to allow of specifications. Some of it is as low as 780 fine, and requires
parting from its silver alloy ; in other cases it yields a fineness of 920.
The small island of Oruba, situated at the outlet of the Gulf of Maracaybo, on the
coast of Venezuela, but subject to the Netherlands, has repeatedly contributed to our
stock of gold bullion, during some fifteen years past, and always in the shape of
native grains, some of which have been remarkable for size. The fineness of this
gold is from 870 to 920.
Africa formerly supplied our mint with a considerable quantity of bullion, in the
shape of dust and manufactured rings ; but of late years, the deposits have been less
frequent. The gold regions of that continent are Kordofan and Sofala, on the
eastern side, and Senegambia and Guinea in the west. It is only from the two latter
that gold is imported into the United States, and there is reason to believe that our
share is insignificant, compared with that which falls to the lot of England and
France. Jt is obtained by the natives from the sands of the rivers. No scientific
* Dr. Ure mentions three localities, in which the gold is of a uniform fineness; at Antioquia, 833; Choco, 875; and
at Giron, 990. Diet, of Mines, &c. 1839.
GOLD AMALGAM. ]53
exploration, it is understood, has yet been made of these auriferous regions. The
ordinary range of gold dust derived from thence, is from 900 to 925 fine ; in rare
instances it will allbrd 970.
The rings, as manufactured gold, claim a notice further on.
2. AMALGAMATED GOLD.
Owing to the strong affinity which quicksilver possesses for gold and silver, it is
highly useful in collecting the particles of those metals from their ores. Being
intimately mixed with the golden sands, or with the pulverized gangues of either
metal, it gathers up the scattered grains into a pasty mass. The mercury is then
pressed out, as far as it can be, and what remains is driven off by heat, until the
metal is left in the state commonly called amalgam; or, in the case of silver, plata
pina. Its substance is porous, granular, and brittle, easily broken by the hand, unless
in the heating it has been slightly fused on the outside.
Gold in this form is brought to the mint from our own States, from Western Mexico,
and New Granada.
The gold of Virginia is in a great degree collected by amalgamation. Its fineness
varies from 670 to 970, but finds its average at 920. Descending to particular
locations, the gold of the Greenwood Company has yielded here 943 to 947 ; that of
the United States Company, 930 to 954; the Exploring and Franklin Companies,
920 ; the Richmond, 895 to 901.
Amalgamated gold from other regions, presents the same varieties as already
noticed in speaking of the grains.
Bullion in this form, whether gold or silver, is liable to a very variable, and often
considerable loss in melting. It can scarcely be less than two per cent., and in a few
cases has amounted to ten ; but the more usual compass of loss is from three to six
per cent.* To account for this it is only necessary to consider, that besides some
portions of earth and quicksilver which remain scattered through the mass, there is
a strong attraction for moisture, and abundant room for concealing it. Experiments
have been made, to ascertain how much water could be contained in good specimens
of silver amalgam or plata pina ; the results of which will be more properly stated
under that head. Whenever this article is a matter of trade, the party purchasing
ought to be satisfied that it has been thoroughly dried ; and after that, experience
proves it necessary to count upon a loss of two or three per cent, in fluxing.
* During twenty months commencing from January 1837, there was received at the mint in amalgam upwards of
3500 ounces. The average loss on melting was 4i per cent.
39
154 GOLD BARS.
3. LAMINATED GOLD.
In those mining regions where the gold is found largely alloyed with silver, it is not
unusual to part the metals before they are sent into the market. To effect this, silver
is still further added, and in such amount that the gold shall form about one-fourth of
the mass ;* the whole is then rolled or beaten into thin sheets, and exposed to the
action of nitric or sulphuric acid, which in such a proportion is able to remove nearly
all the silver, without destroying the cohesion of the gold. When washed and
annealed, it appears in the form of small leaves or sheets, but. porous and brittle. It
must be expected that the treatment will not be uniform, and that in many cases a
considerable amount of silver will be protected from the action of the acid, and so
remain in the mass. It is owing to this fact, that laminated gold, which in a
successful operation should result as high as 990 fine, commonly yields less than 980,
and has been found as low as 910. Gold in this form comes from Central America,
and from various parts of South America. From the former, the range of fineness is
from 910 to 990 ; the latter varies only from 950 to 990 ; and from either, the result
of 970 may usually be expected. There is a loss in melting such gold, varying from
one to ten ounces per thousand ; the average of experiments lies midway between
those extremes.
As the action of the acid leaves a dull but fine gold surface, the silver present is
concealed, so that the eye cannot judge as to its quality.
4. BARS AND CAKES.
It has already been observed, that the miners frequently melt and cast the metal,
before sending it for coinage. In our mining region, the usual form employed is that
of a neat ingot, about six inches long, and one-half to one inch in breadth and thick-
ness. From the general result of the assays of such bars, it is evident that they are
fluxed down from the grains or amalgamations without any addition of alloy, or any
attempt to improve them in purity or ductility.
Here, however, it is necessary to state some facts, which may warn dealers against
imposture.
It is well known, that by a certain course of treatment called pickling, (plunging
in acid,) a bar of gold, even if so base as scarcely to deserve the name, may be made
to appear externally of a high grade of purity ; the other metals in the mass being
dissolved and removed from the surface, and the gold alone remaining visible.
* Hence the process is technically styled quartation.
GOLD OARS. 155
Within three years, eleven parcels of such bars, all from Georgia,* have been brought
to the mint. The value of these at the apparent fineness would have amounted to
61,001) dollars ; the actual produce was only 38,000. To the eye, they exhibited the
rich yellow which indicates an approach to absolute purity ; but an interior view, by
chipping olf an assay-piece, or a remelt of the whole mass, showed the metal in its
true colour. From a comparison of all the cases, there seems to have been some
method in this artifice. The prevailing proportion of gold was 600 thousandths; of
silver 350, and of copper 50. The two extremes are subjoined, to show how far it is
thought expedient by the operators to maintain a nicety of adjustment. The best
contained, of gold 652, silver 308, and copper 40 parts, in a thousand ; the worst,
569 gold, 359 silver, and 72 copper.
The cheat can be detected by removing a portion of the surface, or if this be
inadmissible, by specific gravity. But those who are skilled in the appearances of
gold, are able to decide at sight, whether the colour is natural or forced. Pickled
gold has a coarseness, and want of brilliancy, and partakes of that rich, dull hue,
which is called dead gold. It is seldom burnished, and if it were, the imposition
would still be perceptible/]"
Pickling is practised in South America, and no doubt in other parts of the world.
Cakes of gold from Valparaiso, apparently nearly fine, sometimes result as low as
600 to 700, the alloy being some ten per cent, copper, and the remainder silver.
Gold in melted cakes (tejos) comes from the mines of Western Mexico, Peru, and
Chili. These are of all sizes and frequently bear an assayer's stamp, of the fineness in
quilates or carats, as also of the proportion of silver if it be considerable. They are,
in a few cases, from 875 to 900 fine, but generally from 700 downward, in endless
variety ; the most common rate being near 570.
The most important class of gold bars, is that produced from refineries in
Europe ; which are received here, partly from London, but chiefly from Paris. They
are prepared at private establishments, for commercial purposes, and always bear a
stamp, indicating their weight and fineness, by which their value is ascertained.
They are thus rendered available for currency, and eminently subserve those trans-
* An intelligent correspondent informs us that " the practice of pickling gold, and alloying it with silver, with a view
to defraud, is very common." Those who do it, make no secret of the matter, but justify themselves on the ground
that as a manufacturer of broadcloth puts the best finish on his fabrics, so a gold-miner has a right to make his
bullion appear to the best possible advantage !
f Another sort of fraud, far more elaborate, was lately detected here, and in its way was one of the greatest
curiosities of roguery. From the composition of the metal, the procedure may easily be guessed. A mixture was
first made of gold, silver, and copper, nearly in the proportion of the worst alloy above specified. A bar of iron was
then suspended in a mould, and the mixed metal, in a state of fusion, was poured all around, so as to conceal the iron,
and make it a part of the gold bar issuing from the mould. The gold was about three-eighths of an inch deep, so that
a large cutting would be necessary to reach the iron. For such a synthesis, the finish of pickling seemed a neces-
sary consummation.
156 GOLD JEWELRY.
actions which require large specie payments. The assays of English bars are made
by a government officer ; those of France by private assayers, who are nevertheless
accredited by diplomas from the mint. After very many trials here, it is found that
these bars (like the coin of those countries) fall short, on an average, one thousandth
part in fineness. The extremes are from 980 to 998, and the average is 995 ; so that
they are properly enough styled, in commerce, fine gold. As to size, the British bars
are about 180 ounces each, while those of France vary from 25 to 650, the average
being near 300. An opportunity is thus given to pay, in a solid and single piece,
any amount from 500 to 13,000 dollars*
The shape of these bars is an oblong solid, or parallelopipedon, a little tapering at
the sides, and in such dimensions that the length is twice the breadth, and the breadth
twice the thickness.t The metal is homogeneous, and no attempt at deception has
been discovered.
Having thus noticed the various forms of unwrought gold, it remains to speak of
that metal in its manufactured state ; which will comprehend jewelry and coin.
1. JEWELRY.
It is obvious that the value of trinkets is to be estimated by the skill and labour
expended upon them, as well as by the intrinsic worth of the metal of which they are
composed. Consequently, it can only be in the event of their becoming damaged, or
growing out of fashion, or in some such rigorous emergency of the times as the
community is now enduring, that the sacrifice can be borne of sending them to the
mint as mere bullion.
To enumerate the various articles of use and fancy which are brought to the mint,
often in grotesque confusion, would almost be to give an inventory of a jeweller's
stock. Thus from American or European shops, there are all the equipments of a
watch, from the case to the key ; pins, buttons, rings, pendants, cups, and chains.
From South America, the ornaments are principally chains for the neck ; from Africa,
twisted rings, of native manufacture.
Our attention must first be given to the home manufacture. After many assays,
both of parcels and of individual pieces, it is manifest that there is a great diversity of
fineness. Taking the range of parcels, the assay varies from 400 to 800 thousandths ;
or 9i to 19 carats ; but the more usual scope is from 500 to 600 thousandths, say 12
* A considerable part of the French indemnity was paid in this form. The first bars were received in September
1834, directly after the law was passed reducing our gold coin. From that date to September 1839, four years, there
were upwards of six hundred bars deposited at the mint, the aggregate value of which was about $3,500,000. None
have since been received.
f A bar of fine gold, measuring six inches long, three wide, and one and a half thick, would weigh 275 ounces,
which is near the medium size. Such a bar would be worth about 5900 dollars.
GOLD JEWELRY.
157
to 14 carats. The variation is about the same in individual articles; but for better
satisfaction, the following table is given as a fair specimen.
ASSAY OF SUNDRY ARTICLES OF AMERICAN JEWELRY.
RANGE OF
FINENESS.
np-fcnTPTinv
VALUE
JJtiJL UlL 1 lU.ii
PER DWT.
IN THOUS.
IN CARATS.
Ladies' neck chains, very elaborate; from 50 to 52")
CTS.
inches long, and weighing from 16 to 50 dwts.; of a L
500 to 562
12 to 13|
51 to 58
fine gold colour, and ductile .... J
One gentleman's chain, small bars and links, elegant )
pattern ; 51 inches ; 17 dwts. ; good colour . $
580
13*1
60
One ditto, curb-chain style, 12 dwts. ; pale
646
154
67
Gentlemen's watch-chains, for the fob, about 9 inches )
long; 12J to 24 dwts. ; highly wrought ; good col'r $
310 to 502
7tV to 12
32 to 51
Finger-rings, 12 to 24 grains ; rather coppery colour .
296 to 550
71- to 13TV
31 to 57
Ear-pendants, highly wrought, and fine gold colour ; )
weighing 4j to 6 dwts. per pair ... $
560 to 588
13& to 14§
58 to 61
Scissors-holders, 3 to 4 dwts. each ; good colour .
555
">A
58
Pencil-case, chased ; thickness of the metal in the cylin- }
der, -j-^j- of an inch ;* imperfect ... $
400
94
41
Breast-pins, and buttons for the bosoms and sleeves
595 to 613
Ui to 14$
61 to 64
Case of a gentleman's watch ; chased, and thick
754
18|
78
Case of a lady's watch, very thin ....
747
171
77
Small locket, with enamel work ....
761
18$
78
Thimble, much worn, and coppery colour .
302
71
31
Masonic trinket, 2| dwts. ......
486
Hi?
49
Old-fashioned watch-sea! ; 3 dwts. ; reddish
621
1*1#
63
Old-fashioned watch-chain ; 28 dwts. ; reddish
674
ie*
70
Old-fashioned watch-key, square plate, chasedf .
642
ISA
66
* This is the thickness of common letter-paper.
f Besides the foregoing articles, there were some, found in the same parcels, which we cannot insert in the table as
" fair specimens." For example, there were six watch-seals, of new style, variegated gold, and highly wrought,
weighing (without the stones) 5 to 7 dwts. each ; they were found to consist chiefly of solder overlaid with gold, the
proportion of the latter being only 38 thousandths, or less than one carat. There was also a watch-key, of good
exterior, which resulted only 58 thousandths of gold, or l.J carats. Also, a lady's neck-chain, 51 inches long, and
weighing 36 dwts., the assay of which was less than 3 carats.
40
158 GOLD JEWELRY.
It has not been decided, (that we know of,) how far gold may be alloyed, and
yet retain its honourable name. In coinage, it is seldom reduced below seven-
eighths, or 21 carats. In jewelry, which is to be exposed to incessant wear, such
as a watch-case or pencil-case, 18 carats is considered a good proportion, though
it is probable that 16 carats will keep in colour well enough. For ornamental
articles, not meant to be much handled, 14 carats seems to be sufficient, if the
alloy be both silver and copper, in judicious proportion. But below this, it is hardly
possible that trinkets can endure for any length of time, without becoming tarnished.
In some countries the quality of wrought gold is controlled by law, and it is
necessary to submit the articles to an assay, under the authority of government*
For example :
In Great Britain, the standards are 22 and 18 carats, or 916-7 and 750 thou-
sandths ; the latter being chiefly used.
In France, 920, 840, and 750 thousandths; or 22TV, 20i, and 18 carats; the latter
almost entirely used.
In Austria, 18A, 13tV, and 7U carats. The last is about to be disallowed.
In Mexico, 20 carats. But lower proportions may be used, in which case there is
no official guarantee or stamp.
In the United States there are no legal provisions, nor, we believe, any standards
agreed upon amongst manufacturers.
Jewelry undergoes a prodigious, though unsteady, loss in melting. This is partly
owing to the many exterior cavities, in which dirt collects, but much more to the
presence of solder, which, besides its use as a cement, often serves as an interior
support for the gold. In some articles there is little occasion for the use of solder ;
in others it abounds. Consequently, while one parcel may not lose more than one
per cent, in the crucible, another will lose fifty per cent., or half its weight.t These
extremes have repeatedly been observed here. The usual loss is from 4 to 16 per
cent.
The trinkets sent from Spanish America do not essentially differ from our own in
purity. An ear-ring, lately assayed, was 513 thousandths (12£ carats) fine; a chain,
handsomely wrought, and weighing 42J dwts., proved only 468 thousandths (11^
carats) fine. In general, the variation is from 500 to 750 ; or 12 to 18 carats.
The richest ornaments, so far as the quality of the gold is concerned, are those
worn by the negroes of Western Africa. Considerable quantities of twisted rings,
which are doubtless meant for personal decoration, find their way to this mint, as
bullion. These rings are apparently thus made ; the gold is beaten into a square
rod, two or three inches long, which is twisted until it forms a screw ; the ends are
* The same is the case with silver plate, as will be shown farther on.
f This great loss is partly owing to the necessity of refining with nitre.
COINED GOLD. 159
then smoothed, tapered to a point, and brought together, forming a ring. The
ductility of the metal readily admits of" these contortions. It is evident that these are
wrought from native gold, without artificial mixture ; silver, the natural alloy, being
always and only present. There is much difference in the fineness, the range being
from 845 to 960 thousandths (20.}- to 23 carats), although the usual scope is narrower,
and the average may be safely set down at 930 thousandths, or 22^ carats. The
rings of inferior quality may be known by being somewhat brittle, and not allowing
so fine a twist as the better sort. In weight, they are adapted to the means of all
classes of wearers: we have noticed the extremes of 6£ grains and 26 dwts. ; which,
in cash, would be from 26 cents to 26 dollars. About 5 to 10 dwts. is a common size.
Solder is not used in these articles, and consequently the loss in melting is very
trifling.
2. COINED GOLD.
In the former part of this work, the character of individual species of coin has been
stated at large. When foreign coins are brought in masses to be converted into our
currency, they are considered only as bullion, and are received by weight.
The kinds of gold coin received at the mint, in a large way, are those of England,
France, Netherlands, the northern parts of Germany, and the republics of Mexico
and Colombia. All others come in small quantities, or rather are found here and
there, in mixed parcels.
Coined metal is (unless perfectly new) encumbered with an accretion of dirt and
dust, which of course disappears in melting. By experimenting in a large way, it is
found that an allowance of three-tenths of an ounce per thousand ounces must be
made on this account, for gold coin.
This branch of the subject should not be dismissed without noticing emissions
of coin by individuals, not in the way of counterfeiting, but without authority of law.
In our own country, the only private coinage worth stating, consists of gold pieces,
emanating from the gold region. The establishments for this purpose have been,
that of Templeton Reid, in Georgia, now discontinued ; and that of Christopher
Bechtler, in North Carolina, still in operation.
In the year 1830, when gold began to be extensively raised in Georgia, the project
was set on foot of coining it, so to speak, " at the pit's mouth." Three denominations
of coin, ten, five, and two and a half dollars, were struck, bearing the name of
" Templeton Reid, Assayer," and the designation " Georgia Gold." On two occasions
they were brought to this mint in quantities, but not since 1831. They were soon
discontinued, and probably by this time are nearly forgotten, even at home. The
following is the weight, assay, and value of two kinds ; the five dollar piece has not
been tried.
160
COINED GOLD.
VALUE.
D. C.
Piece of ten dollars*
Piece of two and a half dollars
10 06
2 43
Mr. Bechtler's mint, which is located at Rutherfordton, North Carolina, is of much
greater importance. Its operations were commenced in 1831, and are still carried
on,t although there is a Branch Mint of the United States less than eighty miles
distant. The coins circulate freely at the South and West, but are scarcely known
north of Washington. They are frequently deposited here for recoinage.
To obtain a proper understanding of them will require some attention. There are
two series; the first bearing no date, but issued earlier than 1834, of the three
denominations of five, two and a half, and one dollar, professedly 20 carats fine, and
150 grains to the piece of five dollars. These are now scarce. The second series is
that which bears the date of 1834. In that year there was an important reduction
of standards in the national gold coins, to which Mr. Bechtler conformed, and by way
of distinction has used the uniform date of that year. The denominations are as
before, but there are three grades of fineness and weight ; thus at 20 carats, the five
dollar piece is to weigh 140 grains, the same at 21 carats, to weigh 134 grains, and
at 22 carats, to weigh 128 grains.^ The pieces of 20 carats are stamped "North
Carolina gold," those of 21 "Carolina gold," and those of 22 "Georgia gold." It
is probable that all of the gold is raised in North Carolina, and that these stamps are
only to assist in indicating the different qualities, as they are generally understood in
that region ; Georgia gold being usually the best, and North Carolina the poorest.
The coins bear no emblematical device, but simply the name and residence of the
manufacturer, the weight and fineness, and the designation just stated.
The following is the result of numerous trials of these coins at this mint.
* It is to be observed that our eagle of that date would now be worth $10 66. It then commanded a premium of 5
per cent. ; that is, it was worth $10 50 in silver. If Mr. Reid's ten dollar piece was current without premium, his
gain was about 44 cents, or near 4A per cent. It may have brought more in market.
t Mr. Bechtler has stated the amount of his coinage to February 1840 (nine years), at $2,241,840.
t The calculations are not strict. These three pieces, at their rates, would be worth, by the law of 1834, $5 02J,
5 04 A, and 5 05, respectively.
SILVER BULLION.
16J
Profcss'd
weight.
Grs.
Professed fineness.
Average
weight.
Grs.
Average
fineness.
Thous.
Average
value.
D. C. M.
Value
per dwt.
c. M.
Variations in
fineness.
Thous.
Variations
DENOMINATION.
In
Carats.
In
Thous.
in
value.
Five dollar piece, i
before 1834 $
150
20
833
148
838
5 34
86 6
829 to 846
$5 28 to $5 39
Do. since 1834, >
"N. a gold" \
140
20
833
139-8
815
4 90 7
84 2
813 to 819
4 89 to 4 93
Do. " Carolina gold"
134
21
875
134-4
845
4 89
87 3
833 to 852
4 82 to 4 93
Do. " Georgia gold"
128
22
917
127-6
882
4 84 6
91 2
856 to 899
4 70 to 4 94
2h "N. C. gold"
70
20
833
70
819
2 47
84 6
Do. " Georgia gold"
64
22
917
63-6
872
2 39
90 1
One doll. « N. C."
28
20
833
27-6
810
96 2
83 7
804 to 816
95'- to 97 cts.
There is not much variation in the weight, but the fineness (as shown above) is
exceedingly irregular and inferior, causing an average loss of 2J per cent, on the
nominal value* A safe estimate of the value of single five dollar pieces, taken "as
they come," would be #4 84.t
The present Director of the Mint, in his report to Congress for the year 1840,
after a brief statement in relation to Mr. Bechtler's coinage, observed : " It seems
strange that the privilege of coining copper should be carefully confined by law to
the general government, while that of coining gold and silver, though withheld from
the States, is freely permitted to individuals, with the single restriction, that they
must not imitate the coinage established by law."
SILVER BULLION.
This branch of the subject will require fewer subdivisions than the preceding. In
an unwrought state, silver is brought to the mint either in amalgam, or melted bars
and cakes ; in a manufactured form, it appears as plate or coin. These four items
will sufficiently distinguish all the varieties of silver bullion.
* It is stated that Mr. Bechtler charges 2J to 3 per cent, for the manufacture. This agrees very well with the
average deficiency.
f Same as the British sovereign.
41
162 AMALGAMATED SILVER, ETC.
1. AMALGAMATED SILVER, OR PLATAPINA.
This form of bullion, which is common to both the metals, has been accounted for
in describing gold amalgam. Silver in such a state is usually designated by the
Spanish term plata pina, or cone-shaped silver. Most of it bears that configuration
pretty nearly, and might, at a distance, be mistaken for loaf-sugar. Sometimes it is
compressed into the form of a wedge, cylinder, or globe ; more rarely, it is fancifully
shaped into diminutive towers, images, and the like.
Bullion of this kind comes from the western ports of North and South America,
and forms a considerable share of our coining material.
The most remarkable difference between the platapina of Mexico, and that of
Peru and Chili, is, that the former invariably contains a minute proportion of gold,
sometimes enough to extract ; while the latter is not only free from gold, but usually
is accompanied with a small portion of the native sulphuret of silver.* The same
fact is observed of bars and cakes from the same countries, the sulphuret not being
reduced to metal at the first melting.
Experiments have been made here to ascertain how much water may be concealed
in platapina, owing to its sponge-like texture. Pieces of various dimensions were
heated to redness, to free them from moisture, and their dry weight taken ; they were
then soaked in water two or three days, and reweighed ; from which it was found,
that in one case the absorption was 11 per cent., in another 15, and in a third 20
per cent, of the weight of the mass. Here there is great room for unfair dealing,
since a pretty well-soaked lump may appear dry on the outside, and if it is sold by
weight, a good deal of water will be estimated as silver. The specific gravity of
platapina is from 4 to 5 ; consequently, it is about 2i times more bulky than when
melted. The usual range of purity, and of loss in melting, will be shown in a table.
2. MELTED BARS AND CAKES.
Silver bullion which has been melted, appears in a variety of shapes. If it has
been cast in a large oblong mould, and weighs several hundred ounces, (from 800 to
1600 is the usual scope,) it is called a bar or pig; if it is from a small slender mould,
and weighs 30 to 50 ounces, it is called an ingot; if it has not been cast, but allowed
to cool in the test-dish of the refinery, it is a test-bottom; if it has cooled in the
crucible, it is called a king, or if very small a button. Silver in these various forms is
* This is insoluble in nitric acid, and therefore presents an embarrassment in the humid assay ; indeed, the only one
we have had to encounter. M. Gay-Lussac, the inventor of this admirable process, mentions other obstructions, but
appears not to have experienced this one. When it occurs, we rely mainly on cupellation.
SILVER PLATE. 163
sometimes of an inferior standard, especially if it be a melting of plate ; but generally,
bars and cakes are of a high grade of fineness. They are chiefly imported here from
the same regions which send amalgam. They frequently bear the Spanish stamps of
weight and fineness.
A silver bar or cake ought to be of uniform fineness throughout its mass. But this
is not always the case ; and where the melting has been rudely done, a remelt is
made here before the assay is taken.
There are some frauds to be guarded against, in this sort of bullion. Pickling
(already spoken of) is scarcely available ; but sometimes an iron bar is detected in
the bowels of a silver one ; and in one instance, pigs of silver were brought to the
mint, in each of which there were two very different qualities of metal, the better sort
of course being on the outside*
3. SILVER PLATE.
The plate received at this mint is partly from Spanish America, and partly from
our own workshops ; on rare occasions, there are articles presented of English,
French, and German fabrication.
In many countries there are legal standards for the fineness of plate, some of which
will be noticed before any detail is given of actual assays.
In England wrought silver is 925 thousandths, the same as the coin. Articles
capable of bearing a stamp are marked with a lion, the initials of the maker's name,
the mark of the assay office, and a letter for the date. The mark of the Goldsmiths'
Office is a leopard's head ; the office at Dublin, a harp ; at Edinburgh, a thistle ; at
Sheffield, a crown ; at Birmingham, an anchor ; at Newcastle, three castles. The
letter used by the Goldsmiths' Company shows the date by beginning the alphabet
with 1817, and reckoning on to twenty letters progressively; thus 1820 is known by
the letter D. When the duty is paid, the article is further marked with the King's
head.f
In France there are two standards : 950 and 800 thousandths.^ The former is
probably most used.
* The particulars of this case are worth stating. The deposit consisted of two bars, or pigs. Being too heavy for
the beam then in use, they were cut in two. The cut surface showed that the metal was of considerably lower quality
at the centre than at the outside ; and the layers were so distinct as to prove that the dissimilarity was not accidental.
Before they were melted, assays were taken from the interior and exterior of each bar, and the result was as follows:
First bar ("2012 ounces), exterior, 964 thousandths — interior, 881. Second bar (2200 ounces), exterior, 970 — interior,
920. After a thorough melting and mixing, the first bar resulted 949, the second 962. If the two had been as pure
throughout as they were on the outside, they would have been worth $5268 ; as it was, they yielded $5206, which was
a loss of 12 per cent, to the buyer, though but a small profit to the knavish melter for his pains.
f Kelly's Cambist. \ Ibid.
164
COINED SILVER.
In Austria the two standards are 15 and 13 loths, or 938 and 813 thousandths. A
change is about to be made, substituting the single standard of 900 thousandths*
In Prussia there is no legal regulation, but the manufacture of plate is controlled
by the Corporation of Goldsmiths, so as to insure some conformity to the standard of
750 thousandths fine.t This proportion is also used in other parts of Germany,
particularly at Hamburg.
In Mexico the legal fineness is 11 dineros, or 917 thousandths. This proportion is
not compulsory, and manufacturers may make whatever alloy they please ; but in
such case there is a distinction in the mode of stamping. The mark called diezmo
(tenth) consists of an eagle, and the initial letter of the place where the duty is paid,
which only proves that payment has been made. The stamp of the quinto (fifth) has,
in addition to the marks of the diezmo, those of the assayer and the manufacturer,
and indicates that the metal is of lawful standard.^
In the United States there exists no legal provision ; but it is generally understood
that plate is of the same fineness as our coin, as it is probably made therefrom, in a
great measure.
Actual assays of plate, the loss in melting, and the value per ounce, will be stated
in the ensuing table.
4. COINED SILVER.
This branch of the subject having already been discussed, we shall only remark,
that foreign coins constitute the larger part of the material used in minting opera-
tions here. The kinds most frequently presented are those of Mexico, Peru, Bolivia,
France, Prussia, and the old crowns of the Austrian Low Countries. The coins of
other countries appear in much smaller amount, and usually in miscellaneous parcels.
Silver coins are generally much more soiled by circulation than the gold. The
usual loss in melting is 17 dwts. upon a thousand ounces, which is three-fourths of an
ounce upon a thousand Mexican dollars.
* Letter of J. G. Schwarz, Esq., U. S. Consul at Vienna.
f Letter of his Excellency Henry Wheaton, U. S. Envoy at Berlin.
| Letter of Don Bernardo Gonsalez, Superintendent of the Mint of Mexico.
MIXED BULLION.
165
TABLE OF THE FINENESS OF THE PRECEDING DESCRIPTIONS OF BULLION, LOSS IN
MELTING, AND VALUE PER OUNCE.
RANGE OF
AVERAGE
LOSS IN
VAL.rERTROYOZ.
AV. VAL. PER 0Z.
DESCRIPTION.
FINENESS.
FINENESS.
MELTING,
BEFORE MELTING.
AFTER MELTING.
THOTJS.
THOUS.
PERCENT.
CENTS.
CENTS.
Plata ]iina ....
970 to 999
990
2 to 5
120 to 125
125 to 129
Pigs and test-bottoms
930 to 995
985
A t0 A
119 to 127
120 to 128
Plate:* English .
924 to 936
925
T2o to 2
119
119-5
French
945 to 950
946
do.
121-5
122-2
German (Hamburg, &c.)
738 to 760
750
do.
96-5
97
Romish
(one parcel)
890
do.
114-5
115
Mexicanf .
600 to 920
830
do.
106
107
South American, generally,
670 to 900
830
do.
106
107
Chilian
840 to 960
880
do.
113
114
United States
875 to 900
890
do.
112 to 115
113 to 116
MIXED BULLION.
In the native state, gold is invariably accompanied with a proportion of silver, and
silver, in most cases, contains more or less gold. These metals are not difficult to
separate, though the operation requires skill and labour, and is attended with some
expense. Whenever the cost of parting is greater than the metal to be extracted
will repay, it is allowed to remain, especially in the case of silver containing gold.
Until within a few years it was rare to find a silver coin which did not contain from
one-half to two thousandths, but since the recent improvements in parting, it has
been an extensive and profitable business in France to dissolve the old crowns and
other coins, for the sake of the modicum of gold contained in them.J French silver
coins are now commonly free from gold.
* We have deducted one-half to one cent per ounce from plate before melting. If the articles contain much solder,
as coffee-urns, cups, &c, this deduction is necessary, but spoons, forks, and the like may be rated at the valuation in
the last column.
f A satisfactory average of Mexican and South American plate can hardly be stated. The working of silver is well
understood in those countries, and plate of a low fineness is made to look very well.
I The method referred to is the parting by sulphuric acid, introduced in Paris in 1826, after plans proposed by
M. D'Arcet, Director of Assays at the mint. The principal refinery is that of M. Poizat. The tariff of charges under
this process is complicated, being adjusted to various stages of alloy, but the cheapness of the operation may be judged
42
166 MIXED BULLION.
Mixed bullion is technically of two sorts ; goldish silver, where the silver predomi-
nates, and silvery gold, in the opposite case.
1. Goldish Silver is chiefly received from the west of Mexico, and in cakes
bearing the stamp of an assay. The proportions are very various, but often the
mixture is nearly in equal parts. Silver bullion is always assayed for gold here, and
depositors sometimes receive a return in the latter metal without expecting it. The
charge for parting is four cents per ounce of metal operated on.
The silver derived from the mine recently opened in Davidson County, North
Carolina, contains about two-thirds of one per cent, of gold, a proportion which well
repays the cost of separating. Deposits from this mine were first received in the
autumn of 1841, and the enterprise, which is one of much interest to this country,
gives promise of ultimate success*
2. Silvery Gold, such as will admit of parting, is chiefly brought to this mint
from North Carolina, Western Mexico, and Colombia. The charge for separating is
twelve cents per ounce of the bullion treated. Generally, bullion containing less than
15 per cent, of silver is not parted for the depositor, unless brought in considerable
amount, say of a hundred ounces or upwards ; in any case, the result must yield five
dollars after all expenses, or else it is not reported.
of from the fact that one millieme or thousandth of gold, in a silver coin, will pay for its extraction. But the erection
of a refinery upon this plan is so expensive, and so much material is required to keep it profitably employed, that it has
not been established in the United States. At the mint the old process by nitric acid is used, but the charges are so
narrowed down to the bare cost of labour and materials, that no importer would find it worth his while to send mixed
bullion across the ocean to be parted. The lowest proportion of gold parted from silver here is 21 thousandths, or one-
fourth of one per cent. (See D'Arcet's Instruction, 1827, and other pamphlets published in Paris; also report of Dr.
Patterson, Director of the Mint, to the Senate, April 27, 1842.)
* The ore from this mine is an argentiferous carbonate of lead, yielding about one-third its weight in pure metal,
from which is afterwards extracted from 100 to 400 ounces of silver per ton. The amount brought to the mint thus
far, is about $5000.
CHAPTER IV.
COUNTERFEIT COINS.
A coin is genuine which has been issued under the regulation and authority of
law ; a counterfeit coin is an imitation of the genuine, struck without legal authority.
Counterfeit coins are almost always of inferior composition and value, and are
fabricated for the purpose of imposing them upon the public as genuine, and gaining
the difference. We say almost universally, for there have been instances in which
the false money was fully equal in value to the true. How this could happen may
be illustrated by a case which occurred in 1828 in Tunis. A coinage of new piastres
was effected under the direction of the Bey, and on account of his government.
Their real value was about fourteen cents, but the decree made them current at five
piastres to the Spanish dollar; at which rate the Bey reaped the enormous profit of
more than forty per cent. Such a speculation would naturally create competition ;
and accordingly, piastres of similar impressions, weight, and value were fabricated in
Europe, and found their way to Tunis, where they entered into the circulation, and
procured for their makers a division of the spoil. The enterprise, both on the part
of the Bey and of the counterfeiters, was necessarily soon at an end, and the piastres
fell to their intrinsic value. — Some years ago the base silver money of Hayti was
imitated by artists in this country, for a speculation similar to that upon Tunisian
currency. This is not the place to discuss the question of the morality of issuing a
counterfeit which is in all respects equal to the genuine coin : but the absurdity and
impolicy of affixing an enhanced value upon a piece of money by mere force of law,
is sufficiently shown by the foregoing incidents.
It is not so easy as one would suppose, to make the distinction between that which
is, and that which is not, to be stigmatized as counterfeiting. What are we to think,
when the sovereign power in a state suddenly and secretly debases the coinage? Such
a thing could not happen where the laws are openly promulgated, as in our own
country, and most others. But there are realms where the operations of the mint are
state secrets ; in one of these, the coins might be issued in December at nine-tenths
fine, and in January of the new year it might all at once be reduced to seven-eighths.
None would be the wiser, until, perhaps, some mint-assayer in another land (who will
168 COUNTERFEIT COINS.
take nothing for granted) finds out the fraud. In the meantime, the government,
setting itself as an antagonist to its own people, reaps an enormous gain, of which
the future reaction is no dissuasive against the present temptation*
Once more it is to be remarked, that a coin may be struck without legal authority,
and below legal value, and yet be no counterfeit. Such is the case with the gold
pieces of Mr. Bechtler, now and for some years past coined in North Carolina.
They are slightly under value, and are recognised by no law ; yet they are no
imitations of the national currency, and therefore not to be classed with spurious
money. Their issue is not, though it might be made, unlawful.
Counterfeiting the lawful coin has ever been regarded as a highly criminal offence,
and been forbidden by the severest penalties. Among the ancient Egyptians the
punishment was cutting off both the hands. By the Roman civil law, counterfeiters
were thrown to wild beasts. The Emperor Tacitus made it a capital crime, with
forfeiture of property ; and Constantine declared it to be treason.t In Great Britain
the forgery of coin is a felony, punishable with death ; but the penalty is usually
commuted for transportation, or long imprisonment. In the United States the Act of
Congress provides, that if any person shall counterfeit any coin in the resemblance of
the gold or silver coin struck at the mint, or in the resemblance of any foreign coin
made current by law, or shall pass the same, or shall import it with such intention,
he shall be deemed guilty of felony, and shall be punished with fine not exceeding five
thousand dollars, and imprisonment at hard labour not exceeding ten years. For
the like offences against our copper coin, the penalty is limited to one thousand
dollars fine, and three years' imprisonment.^
As for the antiquity of this practice, we venture little in assuming that it is nearly
* The case has recently happened in Bolivia and South Peru, where halves and quarters of a dollar have been coined
at one-fourth less value than their face purports. (See those articles.) But besides this instance, it will be curious to
cite some facts which occurred in France in the thirteenth century. Philip of Valois, who reigned from 1328 to 1350,
in his last year ordered a coinage of double-lournois, at the reduced and very base proportion of 185 thousandths fine.
In his mandate to the officers of the mint, this precautionary passage occurs : " On the oath which you have made to
the King, keep the thing as secret as possible. Take care that the workmen shall neither know nor suspect any
thing of it ; for if it transpires through your means, you shall be punished in such a manner as will be an example to
all others." His successor, John II., in the very next year, issued a coinage of silver blancs, which were to be 375,
instead of 500 thousandths fine. His direction ran thus: "Keep the thing secret; and if any one ask what is the alloy
of the blancs, pretend that they are of six deniers." At the same time the gold royals were secretly reduced from 20
to 18 carats, with this injunction : " Cause all the former royals to be remelted ; and tell the melters (lest they might
suspect all was not right) that the chief-melter had neglected to alloy them previously, and therefore it was necessary
to remelt." In reciting these facts, the historian observes that these monarchs only followed the example of their
predecessor, Philip le Bel, who, for his pains in this business, acquired the additional surname of le-faux-monnoyeur.
Thus Philip the Fair, with an alias of Philip the Counterfeiter, if not the originator, may be considered the patron of
Iris profession. Mongez, Memoire, &c.
f Arbuthnot on Ancient Coins, &c. p. 8. | Act of March 3, 1825.
COUNTERFEIT COINS. I59
coeval with the art of coining. What has just been stated, as to the penalties
affixed to the crime in ancient countries, will throw some light upon this point; in
addition to which, a passage may be cited from St. Jerome (of the fourth century),
who observes that certain grottoes in Egypt had been discovered, containing some
rusty anvils and hammers, and that Egyptian writers speak of them as having
been the haunts of counterfeiters, about the time of Mark Anthony's visit to Cleo-
patra *
The crime is in some countries very prevalent. The statistical tables of Great
Britain show that in four years ending with 1837, there were 1130 convictions in
England and Wales for counterfeiting and passing counterfeits, of metallic money
only. In the year last named, the whole number of convictions in the realm was
431 ; namely, in England 315, in Scotland 36, and in Ireland 80.f
There are no means of ascertaining the extent of this manufacture and traffic in
the United States. Prosecutions in this part of the country are not frequent, nor are
spurious coins abundant ; but in the Southern and Western States the case is
different. We read continually of organized hordes of depredators upon the cur-
rency, and of the diffusion of " bogus money" throughout the Great Valley of the
Mississippi.
The principal object of this chapter is to enable persons to discriminate between
true and false coins. The need of such information is felt in various circumstances
in life, but the most important are these three :
1. When a doubtful piece of money is offered in some such place as the market,
or at a counter, and consequently very little time is afforded to decide upon taking it ;
in which case, the simplest tests only can be resorted to.
2. Where the piece in question is of a large denomination, and much interest is
felt in ascertaining its true character ; in such case, more time and pains can be
taken.
3. When a person is under suspicion or arrest for the wilful forging or uttering of
counterfeit money ; or when evidence is to be given on a trial for that crime, before
a court. In such case, the common tests may not be sufficient, and resort is to be
had to the severest scrutiny.
These three cases will bring under review all the appliances for deciding whether
a coin is good or bad. These are easily divisible into three classes, which (for want
of a better nomenclature) shall be designated as, I. The sensible tests; II. The
mechanical tests ; and III. The chemical tests.
Before entering upon these topics, a single remark must be made, though it be a
very obvious one, that to be able to use these tests, one must have an acquaintance
* Life of Paul the Hermit, quoted by M. Mongez. t Tables of Revenue, Population, &c, London, 1839.
43
170 SENSIBLE TESTS.
with the genuine coin. Any American is familiar enough with the money of his
own country and of Spanish America, and he may possess a sufficient knowledge of
British and French coin. But how shall he decide upon a Prussian thaler, or an
Austrian zwanziger, of which he seldom sees either the true or the false, and which,
though genuine, are of as low a fineness as many counterfeit dollars of Mexico and
Peru? In such cases the details of weight and fineness, with the aid of the
engravings, in the present work, will be of use, though a sight of the real coin is
nearly indispensable. The aim of the ensuing remarks must therefore be, to assist
any reader, whether American or European, in detecting the counterfeits of those
coins with which he is most familiar, and especially those of superior alloys.
I. SENSIBLE TESTS.
The senses of sight, smell, hearing, and feeling, are familiar tests of the genuineness
of money, and have been relied upon in all ages and countries* Some particulars
will be stated upon these tests individually.
The Sight. This is the most to be depended upon, of the sensible tests. It takes
cognizance of three things ; the colour of the metal, the workmanship of the coin,
and the dimensions, in diameter or thickness.
1. To speak first of gold coin. If the examiner is familiar with the true colour of
gold, both pure and alloyed, he will not easily be deceived by any composition which
contains no gold, and is not gilded.
But such a counterfeit of gold coin rarely if ever is attempted. A true gold
surface must be attained, and this is arrived at in three ways. The first is by
introducing a considerable proportion of gold into the alloy, varying from one-fourth
to two-thirds, and bringing out the colour by pickling. The second is by gilding.
The last is by sawing out the interior of a good coin, and leaving two very thin, but
genuine outside disks, to be soldered upon a baser body.
In the first of these cases, the colour will be that of fine gold, and if new, rather
too good. If the piece is a little worn, the baser metal will discover itself, in
prominent places. A doubloon lately fell under suspicion here, partly from that fact ;
it proved to be only 670, instead of 870 thousandths fine, and therefore a counterfeit,
though containing a remarkably generous share of good metal. Genuine gold
coins lose their colour somewhat by wear, especially if they are alloyed with copper
* In the writings of Epictetus (who flourished under Nero) the following passage occurs, upon this subject. "As it
respects moneys, the banker employs four means of ascertaining their quality; the sight, the touch, the smell, and the
sound. He throws down the coin, and observes what sound it gives; and this he repeats several times." The Chinese,
who have no gold or silver coins of their own, but deal extensively in foreign money, especially Spanish dollars, are
famous for their skill in the use of these tests. Travellers assure us, that an expert money-changer will separate good
from bad dollars nearly as fast as he can pass them through his hands.
SENSIBLE TESTS. 171
only, or with silver only ; but the change will not be so manifest as in the case of a
counterfeit.
In the next case (gilding) the trick has been effective. A parcel of coins was sent
here by a bank, in which a specimen of this kind was detected. It was a half-dollar
of 1810, which had been coated with gold, and the "50 C." scraped off, to make it
pass for an eagle, for which it was received by the teller of the bank. In another
case, a half-dollar of 1801, the reverse of which, as to the impressions, was similar to
the eagle, and was gilded ; on the other side, the coin was smoothed off to receive a
thin obverse disk from a real eagle, by soldering. It may be censurable to recite
such facts, but the danger of indoctrinating others in these laborious and unpro-
fitable rogueries, is less than that of allowing them to go unexposed. Besides, every
one who is in the receipt of coin, especially in gold, must habituate himself to give
it some examination.
But the cheat of gilding can no longer be practised with effect. Gold and silver
coins are now in every country made so palpably different, in the devices or
diameters, that such a conversion will, with a little care, necessarily be detected.
In the last of these three instances, the imposture is still more subtle than the
preceding. A forty-franc piece was lately brought here, which was faultless to the
eye in every respect ; in fact, its outside was genuine, the interior being filled up
with a base metal. In this instance, the trials by sound and weight were necessary to
detect the fraud. Sometimes, it is stated, the disks of gold are soldered upon a plate
of platinum, to maintain a proper weight and specific gravity, without increasing the
thickness* In this case, not only the sight, but some other tests also, would be
unavailable ; still the means of detection would remain. There is little ground,
however, to fear a method of counterfeiting which requires great skill and expe-
rience, and no small trouble and expense, to make it effectual.
To conclude this point, it is to be remarked, that because a gold coin looks rather
too pale, or too red, it is not therefore to be condemned as below standard. The
recent French coins are wholly alloyed with copper, and the beautiful colour of gold
is thus nearly lost ; still, the hue cannot be mistaken by a practised eye for any thing
else than standard gold. On the other hand, those who are familiar with Bechtler's
coins, of North Carolina, are aware that some of them are so pale as to be almost
brassy ; nevertheless, they are of good quality.
We proceed to the judgment of silver coins, by colour. The remarks already made,
have here a general application. Most persons know what the colour of a silver coin
ought to be, and can upon slight examination decide between the real metal (even
though dimmed by wear and dirt) and the shabby imitations in pewter, tin, and
* Chaudet, Art de VEssayeur, p. 287. His valuable chapter De VExamen des Fausses Monnaies Frangaises, has
furnished us with some of the facts and suggestions contained in this article.
172 SENSIBLE TESTS.
German silver. Further, if there be a proportion of silver in the coin, and it be
somewhat worn, the dark or brown tint will here and there betray itself. But the
sight alone cannot detect coins which have been plated, or which, being partly silver,
are nearly new.
2. Inspection of the workmanship is a test so severe, that most counterfeits cannot
endure it. It is a happy circumstance that the finest artists are generally men of
integrity, and cannot be seduced into the illicit arts of forgery. In consequence of
this, a counterfeit coin may usually be known by some awkwardness or straggling in
the letters, some ugliness about the face of Liberty, or at least, some curl or fold out
of place. The very best imitation seen here of American half-dollars, such as would
deceive the most wary, may still be known, upon a comparison, by the iviry locks of
hair. Sometimes an egregious blunder is committed : thus there are spurious dollars
of Carolus IIII., dated some years after the termination of his reign. The gilded
eagle of 1810, already spoken of, also bore an anachronism on its face, as no eagles
were coined from 1805 to 1837.
After all, this test cannot stand alone, since some imitations are exceedingly well
executed, and some pieces (as already explained) are genuine on the face, but base
at the heart.
3. The dimensions, in diameter and thickness, are to be looked to. Here coun-
terfeiters are placed in a dilemma, as will be seen from the following facts. The
specific gravity of our gold coin is about 17-3; of the silver, 10-3. Suppose an
imitation is made of the half-eagle, one-half gold, one-fourth silver, and one-fourth
copper ; which would be liberal, if the forger is to make money by his business.
The specific gravity of this mixture would be only 12-8 ; that is, it would be so much
lighter than standard gold, that if the counterfeit were no larger than the genuine
coin, it could only weigh 95 grains, less by 34 grains than the true weight, and would
therefore be exposed to detection, even without a balance. But let us assume that
the alloy has been three-fourths gold, and the remainder silver and copper ; even
this would be (at the proper size) too light by 14 grains. A deficiency of three
grains, if the piece were unworn, would render it suspicious ; any thing beyond
would condemn it.
As the difference in gravity between silver and the inferior metals is much less
than between them and gold, the variation, as to counterfeits of silver, is less
conspicuous. A forged Mexican dollar, of so high a fineness as 770, would be of the
specific gravity of 9-94; and if of the proper size, would weigh 402, instead of 416
grains. A far less deficiency than this would condemn a silver piece, purporting to
be of almost any country, except certain states of Spanish America. The irregu-
larity, at some of the mints in Mexico, Peru, Bolivia, and the Argentine Bepublic
is so great, that silver coins, professing to be issued thence, cannot be condemned,
SENSIBLE TESTS. 173
from the single fact of their being several grains too light or too heavy. (See those
articles.)
Counterfeit coins are not likely to be too large in diameter ; the thickness is more
to be suspected. Some of the best counterfeits of our half-eagles are made so thick
as to cause suspicion from that fact ; notwithstanding, they fall short in weight.
Specimens of a recent date, containing a proportion of gold, varied in weight from
108 to 123 grains.
The measurements of our coin are detailed in another place ;* but the readiest
guage is a comparison with a genuine piece.
The Smell is to be noticed as the next test. It applies only to counterfeits of
silver, and is even then of limited use. The smell of pure copper, or silvery copper,
when warmed by rubbing, is very perceptible; while standard silver gives out no
odour. This is always stated among the tests of coin, but is of no great value.
The Sound is a more certain criterion. To apply it, the coin should be poised on
the tip of the finger, and its edge lightly struck by another coin. (Dropping it upon
a stone is not a good method.) The tone of standard gold or silver is sonorous, full,
and agreeable. That of baser metal is sometimes shrill and short, sometimes flat and
leaden. In this experiment, a genuine coin should always be used for a comparison.
After all, this proof is not greatly to be relied upon. It would be more so, if the
practice were universal which is said to be pursued at the London mint, of trying
every coin by its ring, and allowing none of uncertain sound to go into the circu-
lation.t As it is, pieces occasionally escape from other mints, and our own too, with
a slight and often imperceptible flaw, which obstructs the vibration, and deadens the
sound. But even a good sonorous piece may be so maltreated, after it leaves the
mint, as to become unmusical.
The Touch is the last of the sensible tests. Like that of the smell, it applies only
to imitations of silver, and is not much to be depended on. The counterfeits made of
pewter, tin, and German silver, have a greasy smoothness to the touch, which real
silver (if it be washed clean) has not. Persons whose sense of feeling, as applied to
this investigation, has become refined by much practice, may use this test with effect,
but not otherwise.
In fine, it is well not to depend upon any one of the foregoing ordeals by the
senses. The suspected coin should be tried by all of them : let it be eyed, and
handled, and smelt, and rung. From a combination of these testimonies, a just
conclusion may in many cases be reached.
* See Appendix.
t Chaudet, p. 280. This and other processes, maintained solely to guard against counterfeiting, are stated to cost
the government £7000 annually, in addition to the ordinary mint expenditure.
44
174 MECHANICAL TESTS.
II. MECHANICAL TESTS.
The instances are not rare, in which a counterfeit is so specious, that all the senses
combined can detect nothing amiss, or at furthest, can only raise a suspicion. In
such cases some mechanical helps must be called in ; those that are commonly
relied upon are the six following. 1. Paring, with a knife. 2. Filing into the edge.
3. The touchstone. 4. The balance. 5. The hammer and chisel. 6. Specific
gravity. Some observations will be made on these respectively.
1. Paring, or Cutting. Standard gold or silver has a certain consistency, which
baser alloys or metals have not ; some being harder, others softer. To one who has
experience in these diiferences, the knife is a good test. Moreover, by removing a
little of the surface, some inferior metal may be disclosed underneath. But this mode
of trial defaces and reduces a coin.
2. Filing. This experiment is in favour with the banks ; it consists in making a
narrow and rather deep incision, with a small file, in the edge of the coin. Like the
preceding, it both tests the hardness and exposes the inside. In cases where the
counterfeit has a good proportion of precious metal, it is not satisfactory. Besides, it
so disfigures the piece, as to render it suspicious ever after.
3. Touchstone. This metallic test, practised in ancient Rome, and perfected in
modern France, is famous every where. Unskilled persons would presume that it
must be the perfection of assaying ; since the very term has by a figure of speech
been adopted into ordinary converse, and every thing has its touchstone. Notwith-
standing, this test requires a vast deal of skill and practice, and some array of
apparatus, and after all, is only approximate in its results. It is hardly available
for silver, since a difference in fineness of 100 thousandths, or ten per cent., can
scarcely be perceived. It is much more in use for gold, and is resorted to for
determining the fineness of articles of jewelry, where very little of the metal can be
spared, and where much accuracy is not required.
The touchstone, called also Lydian stone, from having been first brought from
Lydia, in Asia Minor, is now chiefly procured from Austria and Saxony. It is a
basaltic stone, nearly black, and of a gritty surface when polished. Its constituent
parts are chiefly silex, alumine, and oxide of iron.
This test, it is evident, is not an expedient one for the detection of counterfeits. It
is enough to state, that its use is by a comparison with known alloys, of various
proportions, prepared for the purpose. These alloys are for convenience joined
together, pointing outwards from a common centre, something like the rays of a
star, and are called points or needles; the fineness (in carats) being marked on each.
These points are rubbed on the touchstone, and the metal under examination
MECHANICAL TESTS. 175
likewise ; upon comparing the colour of the particles lodged upon the stone, the
fineness is ascertained. An improved method (invented by Vauquelin) is to prepare
an acid, composed of 98 parts nitric at 37 degrees of Baume, and 2 parts muriatic
at 21 degrees; the metal is to be rubbed in several places on the stone, and the
needles opposite to each ; the mixed acid is then to be dropped on all these
markings, and the experimenter must observe where there is the most similarity of
effect, and judge accordingly. This improvement properly carries the test into the
chemical class; but it is thought best to dispose of the subject in one place.*
4. The Balance. If the reader will recur to what has been said under the item
of Dimension, as to the embarrassments of counterfeiters in harmonizing true size
with true weight, he will perceive the value of the test now proposed. Indeed, for
quickness, ease, and certainty, the balance has the preference over any test yet
named. Counterfeits of gold coin are always, and of silver almost always, too light ;
the deficiency being, in large pieces, from five to sixty grains. It is true that the
error, especially in imitations of Spanish-American dollars, is sometimes the other
way, a few having been noticed of six to twelve grains heavy. It would seem that
the apparatus of counterfeiters is not suitable for nice adjustments, or that they
cannot afford to take so much pains. Consequently, if any piece under trial (except
some of Spanish America, as already stated!) should be light or heavy as much as
five grains, in comparison with a genuine coin, and both being unworn, such piece
may justly be brought under suspicion ; and if other tests seem to concur, it is to be
rejected as a forgery.
The trial is very simple. It only requires a beam capable of turning with a grain
or two, and some small weights. For want of these latter, the operator may take a
slip of lead, and counterpoise it against a new half-dime, which is about 20£ grains ;
by dividing this slip into quarters, a sufficiently accurate weight of five grains is
obtained, which will answer for the purpose in hand.
5. The Hammer and Chisel. If there is no objection to spoiling the coin, a very
good test is to divide it, through the centre, by cutting half through, and then
breaking it. A fractured edge shows the composition much better than a smooth
cut. If the coin is of standard silver, it will be rather tough in dividing, and the
fracture will be a clear white. If it is of base silver, the fracture will be short and
brittle, and the colour gray or brown. If the material be of plated copper, tin, or
German silver, it will show for itself. This test may also be applied to counterfeits
of gold, but not always so satisfactorily.
* More satisfactory details may be found in Chaudet's Essayeur, Chapter XIIT.
\ In some other countries, the mints are careless in adjusting their coins. The instances are pointed out, under the
respective heads.
176 CHEMICAL TESTS.
6. Specific Gravity. As this subject is discussed in another place, it is only to
be remarked that the process is a sure test of the genuineness of a coin, and
deserves to be better understood than it usually is. Any apothecary or watchmaker
in town or country can qualify himself, and prepare his balance, to take the specific
gravity of solids, and thus be competent to decide in any controversy, in market or
at court, upon a piece of money.
III. CHEMICAL TESTS.
The chemical tests are systematic assays, by cupellation, for gold, and either by
that method or by solution and precipitation, for silver. These processes not only
decide whether a coin is good, but what is the actual amount of good metal
contained in it. And if it is desired to carry the investigation farther, there are
means of ascertaining the entire composition of the piece ; what metals enter into
it, and in what proportion. This latter treatment is called an analysis.
To do justice to this subject, would require a treatise on assaying, which would be
out of place, and unnecessary. Whenever a coin has been subjected to the tests
already stated, and there is still a doubt, to be cleared up before a court and jury,
(and a rare case it will be,)* a sample of the suspected money should be referred to a
practical chemist, and sufficient time given to make satisfactory experiments.
There is a process, however, for silver coin, which is easy enough for any ingenious
person, and offers an interesting train of experiments. All the apparatus and mate-
rials required would be, a balance sensible to half a grain, with correct weights ; a
few eight-ounce glass phials ; aqua fortis, or nitric acid ; common salt ; and some
coarse unsized paper for filtering.t
* The following curious case, which occurred at Nashville, Tennessee, early in 1829, is worth preserving. A
Kentuckian, named Banton, was brought before the committing magistrates, on a charge of passing counterfeit Spanish
and Mexican dollars. The pieces had been cut at the bank, and pronounced by the teller to be forgeries ; in which
judgment several silversmiths concurred. On the examination, the same artisans testified that they had tried the
dollars by pickling and rolling, and agreed that they were of good silver. They were sent out, however, to try
another experiment, and returned with the decision that the pieces were spurious, but contained some silver. A
gentleman of science (as the newspaper states) was next called on, to test the coins in presence of the magistrates,
"by the most approved processes used by chemists," and determined them to be as pure as the Spanish dollar. The
counsel for the prisoner now moved for his discharge ; but the judges, not free from doubt, resolved upon one more
trial. They adjourned for a few days, and in the mean time sent some specimens to Dr. Troost, Professor of Chemistry
in the University of Nashville. At the next hearing, that gentleman presented the results of eight experiments, by
solution and precipitation. The coins were found to contain various proportions of silver, from 22 to 63 per cent;
while a genuine piece, assayed in their company, gave 89 per cent. The accused was then bound over for trial.
(Nashville Republican, January 1829.)
f It will be understood that we are not writing for the scientific, but for the general reader. The former would
expect us to be more technical and exact.
CHEMICAL TESTS. 177
Two objects are supposed to be in view ; first, to know if the coin is genuine, and
secondly, how much silver it contains.
For these purposes, have the suspected piece, or a sufficient portion of it, cut into
bits, by the aid of a smith's tools, and weigh therefrom fifty grains. In like manner,
obtain the same quantity of a genuine coin. Put these doses into separate bottles ;
pour into each about 400 grains of weak nitric acid ;* place each bottle in a cup,
containing water, and expose them to moderate heat. The genuine specimen will
dissolve, not quickly, but completely ; the other, if base, will be more violently
attacked, but perhaps not entirely dissolved, without the addition of more acid.
The process of solution, will, in most cases, of itself decide the character of the
suspected coin. When this operation is finished, the liquid should be transparent ; if
it is not, and a milky precipitate floats in it, this is an indication that tin is present,t
which is never found in a good coin ; and as the further search for silver will be
somewhat intricate, and generally useless,^ the experiment may here be arrested.
But if the liquid is clear, pour in a strong solution of common salt, about as much in
bulk as the acid used, and add water until the bottles are half full ; then shake them
briskly for two or three minutes, which will cause the precipitate to subside. Hold
the bottles up to the light, and observe the colour of the fluids. Both will be blue,
from the presence of copper ; but if one of the samples is counterfeit, it will be
decidedly darker than the genuine.
Proceeding now to ascertain how much silver is in the coin, prepare two other
bottles, with funnels, and place a double fold of filtering paper (previously weighed)
in each funnel. Pour on these filters the whole of the respective liquors, with their
precipitated silver. When the liquid has entirely passed through, take off the filters,
on which will be lodged all the silver, in a state of chloride. Having thoroughly
dried them, finish the operation by weighing. After deducting the weight of the
paper, the genuine specimen should give 60 grains, if it was of our standard silver; a
grain or two, more or less, must be allowed for want of accuracy. Deduct one-fourth
for chlorine, and the remainder, of 45 grains, will be the amount of pure silver; that
is, nine-tenths of the original weight. As for the other specimen, if it be a
counterfeit, the weight (deducting the filter) cannot exceed 50 grains ; and ordinarily
it will not be more than 25. In any case, deduct, as above, one-fourth, and the
residue is the metallic silver present.
Annexed is a table of counterfeits, selected from about 150 varieties.
* One hundred and fifty grains of nitric acid at 25° Baume, would be just sufficient to dissolve fifty grains of a
standard coin, if brought to boiling heat. It is thought better for beginners to use more acid, and less heat.
t Or it may indicate that the acid is impure, containing muriatic, which has precipitated some silver; to ascertain
this, observe whether the genuine specimen is clear or not. If it is not, the acid is unfit for the experiment.
} A tin counterfeit seldom contains silver.
45
178
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CHAPTER V.
SPECIFIC GRAVITY OF GOLD AND SILVER.
For the sake of such readers as have given no attention to the subject of specific
gravities, a prefatory remark or two may be offered. They are reminded that there is
a great diiference in the weighliness of different substances ; that a solid inch of gold
is heavier than the same bulk of silver, and still heavier than iron, and so forth.
This relation of gravity may be ascertained, so as to be expressed by figures,
minutely and accurately. The usual measure of comparison for solids is pure water,
at a temperature of 60° to 65° Fahrenheit ; this being estimated as 1, pure silver is
found to be 10-J- times as heavy, that is, its specific gravity is 10-50, as that of pure
gold is 19-30.
This comparison of gravities is of so much importance that it goes very far
towards identifying any particular substance ; and in respect to the precious metals
is of this further use, that it will decide, with considerable accuracy, their degree of
purity. It is, indeed, a far less delicate test than the assay, and would be inadmissible
for minting operations ; but it possesses these advantages, that it does not injure or
diminish the article to be tried,* and requires very little time for the examination.
The whole operation is simply this. The coin, bar, or other matter to be tested, is
to be weighed, first in air, and then in water. Taking the difference as a divisor,
and the first weight as a dividend, the quotient will be the specific gravity of the
article. Suppose the weight in air to be 5000 grains, and the weight in water
4727-5, the difference will be 272-5 ; 5000 divided by this will give the quotient,
* This condition is believed to have given origin to the operation, which was discovered by the celebrated geome-
trician Archimedes of Syracuse, (who flourished about the year 250 B. C.,) on the following occasion. The King,
who had entrusted a quantity of pure gold with an artist, to be wrought into a crown, suspected that the article had
been alloyed with silver in the making, and gave it as a problem to his philosophers to decide the matter, without
injuring the fabric. Archimedes, going to bathe, observed that as he got into the full tub, the water ran over; and the
idea was suggested that the amount of "water thus spilt must be equal in bulk to his own body, and if it were weighed
against himself, would show the comparative gravity, bulk for bulk. Applying this to the King's case, he perceived
that, the weight of the crown being determined, its bulk ought to be no greater than a certain dimension; if it
exceeded, there was proof that silver had been added. By plunging the diadem in water, he ascertained its bulk, and
without the least injury to the delicate workmanship, detected the fraud of the manufacturer. His method of finding
the gravity has been improved upon, as is shown above.
SPECIFIC GRAVITY OF GOLD AND SILVER. 181
or specific gravity of 18-36. This operation is founded on the hydrostatic fact, that
the apparent loss of weight of the solid examined, is equal to the weight of its own
volume of water.
No one need be deterred from this experiment by the fear of being lost in an intri-
cate maze. It is entirely within the reach of every miner, broker, jeweller, or other
dealer in precious metals, and should be familiar to them all. All that is necessary,
is so to arrange an ordinary balance, that one stirrup with its dish can be taken off,
and a human or horsehair suspended in its place, having one or more loops at the
lower end in which to secure the bar, coin or trinket to be tried. One horsehair will
bear three or four ounces ; if a larger weight is required, a stout silk thread may be
used. Dealers should have beams of sizes suited to their business ; for example, a
miner in our gold region, who has cast his bullion into a small ingot, will need a
balance which will bear a weight of two pounds or more ; a broker or jeweller will
require one which would be loaded at one ounce. Nor need these be very delicate ;
if the former turns with three grains, and the latter with one-quarter of a grain, it
will suffice for the purpose in hand. The operator therefore, having removed one of
the stirrups, and substituted a hair, must equipoise the beam by placing something,
say a piece of sheet-lead, on that arm which has been lightened. Having washed the
article with soap and water, he is to place it in the loops securely, and weigh it in
the air ; let it then hang in a vessel of rain-water, so that it shall be entirely sub-
merged, and shall not touch the vessel. The weight will now be found less than it was
before ; the difference, whatever it may be, will be the divisor, as already explained.
The whole operation need not consume more than five minutes.*
The specific gravity of any given alloy of gold or silver having thus been obtained,
an important point remains, to know what degree of fineness it indicates. This
cannot be ascertained by any calculation, based upon the known gravities of the pure
metals. For example, fine gold has a gravity of 19-30, and fine silver 10-50 ; but the
gravity of a mixture containing half gold and half silver would be 13-60, and not
14-90, the result by arithmetic. The reason of this is that the metals expand in the
process of combination, and so reduce the specific gravity.
It follows then, that there must be a series of experiments upon known alloys, the
results of which are to be referred to as a standard of comparison. We have never
yet been able to meet with such results, except of a few stages of alloy, and those not
always satisfactory. To supply this manifest deficiency, has been not the least
arduous labour connected with the present publication. The ensuing tables are
* An excellent instrument for taking specific gravities of solids was invented some years ago by Dr. Isaac Hays of
this city, but was never brought into common use. It is upon the steelyard principle, and the gravity is ascertained
by a graduation on the beam. Mr. Saxton has recently made a beautiful instrument of this kind. It shortens the pro-
cess, and is very simple.
46
182
SPECIFIC GRAVITY OF GOLD.
the fruit of numerous and careful trials,* and we believe may be depended upon.
The apparatus used, consisted of two beams, one of which bears a weight of two
pounds troy in each dish, and is sensible to the one-hundredth of a grain ; for the
other, the largest weight was ten grammes (154 grains), and the smallest, one-tenth
of a milligramme, or Ths of a grain. The alloys were carefully prepared from pure
gold, silver, and copper, of the weight of five to ten grammes, though in some cases
the amount was much larger. The temperature was about 65° Fahrenheit. In all
the cases except that of gold alloyed with silver and copper, there are two columns of
specific gravities, first from casting, and next from hammering ; in the excepted case,
the difference was found so small, as not to be worth noting.
TABLE OF THE SPECIFIC GRAVITY OF GOLD, AT DIFFERENT GRADES OF FINENESS,
AND VARIOUSLY ALLOYED.
ALLOYED WITH
ALLOYED WITH SILVER.
ALLOYED WITH COPPER.
SILVER AND COPPER
FINENESS.
IN EQUAL PARTS.
THOUS.
Cast.
Hammered.
Cast.
Hammered.
Cast or hammered.
500
13-60
13-68
12-05
12-10
12.84
510
13-68
13-77
12-15
12-20
12-92
520
13-76
13-86
12-25
12-30
13-00
530
13-84
13-95
12-35
12-41
13-08
540
13-92
14-03
12-44
12-51
13-16
550
14-00
14-11
12-54
12-62
13-25
560
14-09
14-20
12-64
12-70
13-33
570
14-18
14-28
12-73
12-80
13.43
580
14-27
J 4-36
12-83
12-90
13-54
590
14-36
14-45
12-92
13-00
13-64
600
14-45
14-54
13-00
13-12
13-75
610
14-54
14-63
13-11
13-24
13.85
620
14-64
14-72
13.22
13-36
13-95
630
14-74
14-81
13-34
13-46
14-06
640
14-84
14-90
13-46
13-58
14-17
650
14-94
15-00
13-60
13-70
14-28
* About two hundred and thirty experiments were made, and wholly from synthetic alloys, many of which were
afterwards assayed for confirmation of their correctness.
SPECIFIC GRAVITY OF GOLD.
183
TABLE OF THE SPECIFIC GRAVITY OF GOLD (continued).
ALLOYED WITH
ALLOYED WITU SILVER.
ALLOYED WITU COPPER.
SILVER AND COPPER
FINENESS.
IK EQUAL PARTS.
TUOUS.
Cast.
Hammered.
Cast.
Hammered.
Cast or hammered.
660
15-04
15-08
13-70
13-80
14-38
670
15-15
15-18
13-80
13-90
14-49
680
15-26
15-29
13-90
14-00
14-60
690
15-37
15-41
14-00
14-11
14-70
700
15-48
15-53
14-10
14-21
14-80
710
15-59
15-64
14-20
14-33
14-91
720
15-70
15-75
14-40
14.47
15-02
730
15-81
15-85
14-50
14-60
15-13
740
15-91
15-96
14-66
14-74
15-25
750
16-02
16-08
14-78
14-88
15-37
760
16-12
16-18
14-90
15-02
15-50
770
16-25
16-29
15-00
15-16
15-64
7S0
16-36
16-40
15-10
15-21
15.78
790
16-51
16-53
15-20
15-36
15-92
800
16-63
16-65
15-40
15-52
16-05
810
16-78
16-78
15-47
15-67
16-18
820
16-88
10-90
15-56
15-82
16-31
830
17-00
17-02
15-76
15-97
16-44
810
17-11
17-12
15-96
16-13
16-58
850
17-23
17-25
16-10
16-29
16-72
860
17-34
17-38
16-25
16-45
16-86
870
17-48
17-51
16-47
16-62
17-01
880
17-60
17-64
16-55
16-79
17-16
890
17-74
17-78
16-92
16-98
17-32
900
17-90
17-92
17-20
17-20
17-48
910
18-03
18-06
17-32
17-35
17-64
920
18-13
18-20
17-46
17-54
17-80
930
18-30
18-34
17-61
17-73
17-97
SPECIFIC GRAVITY OF GOLD.
TABLE OF THE SPECIFIC GRAVITY OF GOLD (continued).
ALLOYED WITH
ALLOYED WITH SILVER.
ALLOYED WITH COPPER.
SILVER AND COPPER
FINENESS.
IN EQUAL PARTS.
THOUS.
Cast.
Hammered.
Cast
Hammered.
Cast or hammered.
940
18-43
18-46
17-79
17-93
18-14
950
18-57
18-66
18-14
18-13
18-32
960
18-72
18-76
18-35
18-34
18-51
970
18-87
18-90
18-56
18-65
18-70
980
19-00
19-08
18-68
18-86
1S-90
990
19-14
19-21
19-06
19-08
19-10
1000
19-30
19-30
19-30
19-30
19-30
To use this table effectively, the operator must carefully observe what his gold is
alloyed with ; since an article 750 thousandths (18 carats) fine, may show the specific
gravities of 14-78 to 16-08; or on the other hand, an article whose specific gravity is
14-78, may be from 632 to 750 thousandths fine, which is a prodigious variation, and
depends entirely upon the alloy. A miner of our gold region, who has cast native
metal into a bar, is to be guided by the first column, as he will not be embarrassed
by copper alloy. There is this caution to be observed, however, with gold from our
southern states ; that if it contains tin, as it often does, the metal will be crystallized
or brittle, and the fineness will be about 20 thousandths higher than the table indicates.
For example, if the specific gravity of a bar has been found to be 17-74, and a little
piece of it has proved very fragile in cutting or hammering, the fineness will be, not
890, but about 910.
But suppose the articles consist of coin, or jewelry ; they are almost certain to be
alloyed both with silver and copper, and in very variable proportion. The specific
gravity of such an article is to be sought under the head of hammered. Take for
example a twenty-franc piece of France, of late date, and its specific gravity will be
found very near 17-20 ; but take another of the type of Napoleon (in whose time silver
was used in the alloy) and it will vary from 17-30 to 17-70; so that, if the fineness
were to be judged only from specific gravity, there would be the large scope of 855 to
930 thousandths. In such cases, the eye must aid in the determination. A person of
some experience can tell from the colour, whether the coin is wholly alloyed with
silver or with copper, or whether it has about one-half, or one-third, of either of those
metals. To give some instances. The operator has three ten-thaler pieces of Bruns-
wick, the fineness of which is known to be about 896. Their specific gravities we
SPECIFIC GRAVITY OF SILVER.
185
will suppose, have resulted 17-12, 17-28, and 17-40. Now upon inspection of their
colour, he will see such a manifest difference in the shade, as to account for these
considerable variations ; and if he would avoid serious error, he must always take
this into the account. In the first instance, the mixture would be about 896 eold, 14
silver, and 90 copper ; in the second, 896 gold, 34 silver, 70 copper ; in the third
896 gold, 50 silver, and 50 copper.
After all, it is evident that only an approximate result can be obtained, though in
general, the error will not be greater than one per cent., or a quarter of a carat. But
even this will be of signal use to commercial dealers, and perhaps as accurate as they
would wish. It offers a sure means of detecting counterfeits, and pickled bars.
We proceed to offer a table of silver, alloyed with copper. Here the difference
between fine and half-fine is so much less than in the former table, that it is imprac-
ticable to come to a closer gradation than by 50 thousandths, or five per cent.
TABLE OF THE SPECIFIC GRAVITY OF SILVER AT DIFFERENT GRADES OF FINENESS,
ALLOYED WITH COPPER.
FINENESS.
THOUS.
CAST.
HAMMERED.
FINENESS.
THOUS.
CAST.
HAMMERED.
500
9-50
9-64
800
10-08
10-14
550
9-62
9-71
850
10-08
10-20
600
9-SO
9-80
900
10-24
10-30
650
9-85
9-88
950
10-31
10-40
700
9-96
9-96
1000
10-50
10-55
750
10-05
10-05
Some general observations may properly be offered, upon the results in the fore-
going tables.
1. The specific gravities are in a certain progression ; and if it were not for inci-
dental and unavoidable variations in the experiments, it is probable they would be
found to follow an exact mathematical law.
2. The specific gravity of cast metal is never so uniform as that of hammered, since
the former may contain minute cavities, external or internal. This is especially
obvious in the silver table, where there appears little difference, in a fineness of 750
to 850.
3. Notwithstanding all the pains that can be taken, the same alloy will often pro-
duce varying results, to the extent of five or six, in the second place of decimals. To
carry results to the third decimal is an idle refinement.
47
CHAPTER VI.
DESCRIPTION OF THE PLATES.
The original plan of this work did not include illustrations by engravings. This
was felt as a serious deficiency, since a treatise on coins, which does not present a
picture of them, is but half fitted for its purposes. There was, however, no choice
left ; for, not to speak of the difficulty of procuring an artist willing to undertake the
task,* the expenses of engravings executed by the usual methods, whether on metal or
wood, would have made the price of the book three times as much as that which is to
be put upon it, and would therefore have lifted it out of the reach of most purchasers.
Under such circumstances, the authors proceeded with their labours, hoping in some
measure to supply the want of engraved copies by descriptions of the coins.
Much progress had not been made, before a turn was given to the enterprise, by
which the object, before so hopeless, was placed within reach. There was a process
of engraving, yet new to the world, by which coins, medals, and other bas-reliefs could
be copied, with comparatively little labour and expense, and so accurately as to pre-
sent a fac-simile. What is more remarkable, this was a process by machinery; and of
so great ingenuity, that it is gratifying to affirm that it was invented and perfected
by Americans, and (if we may be allowed to show some esprit de corps) artists connected
with this institution. Upon referring the matter to one of these gentlemen, he kindly
undertook the serious task of preparing a suite of engravings, which, as will be
seen, comprises a front view of the Mint of the United States in the title page, and
sixteen plates (which find their place in this chapter) comprising about two hundred
specimens of coin. By the aid of these, the reader will be able to identify almost
any coin now current in the world. He will doubtless also be gratified with the faith-
fulness, and the striking effect of these pictures ; but it will add to his interest in
them, to understand something of the principles of the mechanism by which they have
been accomplished.
It is not difficult to imagine an arrangement of machinery such that while one point
is tracing a line across the face of a medal, rising and falling according to the eleva-
* There is something about this sort of work which makes engravers particularly repugnant to it. A very able
artist declared to us that he would not have undertaken it on any consideration.
DESCRIPTION OF THE PLATES. 187
tions and depressions over which it passes, another point shall draw, on a flat surface,
a profile of this line. If now the tracer be made to move successively in a series of
parallel and equidistant planes, over the whole surface of the medal, there will be thus
drawn a series of profiles corresponding to the sections of these planes with the sur-
face of the medal, and these lines will together form a drawing or engraving of the
medal itself.
Such an instrument was invented and executed, in 1817, by Mr. Christian Gobrecht,
a native of Pennsylvania, now engraver of the Mint of the United States. In this
instrument the " tracing-point" moved across the medal in parallel planes perpendi-
cular to the flat surface or " table" of the medal, and the profile lines were drawn on
an etching ground laid on copper or steel, by the " etching-point." The first en-
graving made was of a head of the Emperor Alexander, and the effect was very striking,
and excited great attention. An instrument constructed chiefly on Mr. Gobrecht's
plan by Mr. Asa Spencer, of this city, was put in operation by him in London, in
1819 ; and thus this art may be justly said to have been first introduced into Europe.
It is true that the general principle of the medal-ruling machine is included in that
ancient invention the rose-lathe, and that an imperfect attempt was made by M. Ber-
geron, in Paris, in 1816, to engrave on copper by this lathe, and by a corresponding
instrument which he calls the " machine carre." But the whole history of the art of
medal-ruling, as now practised, shows that it had its origin in the invention of Mr.
Gobrecht.
In this instrument, each of the parallel sections, in which the tracing-point succes-
sively moves, would, if continued, cross the flat table of the medal in a straight line,
which may be called the base-line of that section. Now if the tracing-point describe
this base-line itself, the etching-point will describe a corresponding cross-line, also
straight. But when the tracing-point rises, as in practice, above the base, the
etching-point will deviate from the cross-line by a distance either equal or propor-
tional to this elevation. Two consequences follow from this arrangement. The first
is that when the profiles of two consecutive lines passed over by the tracer are drawn,
the more the second traced line rises above the first, the closer will the second etched
line approach to the first, and vice versa. Hence the etching of the side of the medal,
along which the tracing-point ascends in its successive passages, will have its lines
closer together, and that of the side along which the tracing-point descends will have
its lines farther apart ; and these distances will be greater or less according as the
ascents or descents are more or less steep. It is this circumstance that produces the
shading, and makes the series of profile lines exhibit a representation of the medal.
But a second consequence of the arrangement of the instrument is, that points which
are in the same cross-section of the medal are not represented in the corresponding
cross-line of the engraving, but deviate more from it as the points of the medal are
188 DESCRIPTION OF THE PLATES.
higher. This gives rise to a distortion of the features, not, indeed, very perceptible in
copies from medals in low relief, but from those in high relief quite offensive.
This defect, which is inherent in Mr. Gobrecht's instrument, and glaringly apparent
in the engraved plate of M. Bergeron, requires, for its removal, an essential modifica-
tion in the process of medal-ruling. The change consists, first, in causing the tracing-
point to describe the intersections of the surface of the medal in planes, not, as before,
perpendicular to the table, but forming an oblique angle with it, — and the angle here-
tofore chosen is one of 45°. It will follow that, on the ascending side of the medal,
these intersections will be near to one another, and more near the steeper the ascent, —
while on the descending side, the reverse will occur ; so that the lines in question
would themselves, if marked, form a shading on the surface of the medal.
Now a little reflection will show that if these lines were projected, by perpendicu-
lars drawn from them at every point, upon the flat table of the medal supposed to be
continued across it, there would be drawn upon this plane a representation of the
medal itself, properly defined and shaded, and without the least distortion. But in
order that the ruling-machine may etch out a true copy of this imaginary drawing,
it is only necessary that a mechanical arrangement be adopted, such that the etching-
point shall always move forward and backward over a distance equal to the horizontal
projection of the distance described by the tracing-point in its diagonal movements
over the face of the medal. For this purpose, the oblique movement of the tracing-
point must be to the horizontal movement of the etching-point, as the hypotenuse of
a right-angled triangle is to its base, when the angle at the base is equal to that
which the tracing planes make with the table of the medal. It has been supposed
and asserted that, to avoid distortion, this angle must be one of 45° ; but this is
evidently not a necessary condition. The less the angle in question, the greater will
be the contrast between the lights and shadows of the engraving ; but it must not be
so small as that of the slopes of the medal on the side along which the tracing sec-
tions descend, or these slopes will not be touched by the tracing-point.
The ingenious device described above, — the originality of which cannot be con-
tested,— is due to Mr. Joseph Saxton, a native of Pennsylvania, now attached to the
Mint, who first executed it, in London, in 1829.
The last ruling-machine of Mr. Saxton's construction (made for the purpose of
effecting these engravings) has the steam engine for its motive power. In conse-
quence of this difficult and admirable arrangement, not only the irksome manual
labour, heretofore necessary, but even personal attendance, is dispensed with ; so that
the machine, once set in motion, will do all its work, and stop when it is done,
though its master should be at other business, or abroad. The quickness of its execu-
tion is another striking feature of this apparatus; one disk of a coin, an inch in
diameter, requires about half an hour, which, considering that the number of lines
FMTEB STATES
GOLD.
JPl.I.
■
.
DESCRIPTION OF THE PLATES.
189
traced is two hundred to the inch, must be owned as a rapidity quite in keeping with
the age.
But the reader is not yet apprised of the whole array of modern art which has been
pressed into service. These copies could not be taken immediately from the coins,
because the picture would then be reversed, and the legends would read backwards.
It was therefore necessary to obtain impressions of them, and these must be in metal,
and that hard enough to bear the tracer. We must then have been at a loss, except
for the seasonable invention of the electrotype, of M. Jacobi. By this apparatus, a
coin suspended in an electro-galvanic battery, with certain adjustments not to be
described here, gradually becomes coated with copper, which, when removed in a solid
cake, present as complete a counterpart to the coin, as if produced from the die, under
a coining-press. Copies of all the coins were first taken in this way, and from these
the rulings were made. It may be added, that the finest specimens of coin, belonging
to the cabinet of the Mint, were at our command for this purpose.
To obtain the vignette of the Mint (which is in the title page), as there was no
medallion to rule from, it was required to go back to the original ; and this necessity
brought into play another brilliant invention of modern times, the daguerreotype. A
picture of the edifice was taken with this instrument by Mr. Saxton, from which a
copy was engraved in soft metal by Mr. Gobrecht ; from this copy, a counterpart was
obtained in copper by the electrotype, and therefrom the engraving was effected.
This view is therefore commended to the reader, not only as a faithful and beautiful
transcript of the original, but as combining in its production, three discoveries which
adorn the present age, the daguerreotype, electrotype, and machine-engraving.
In concluding this statement, it is but just to say, that as a great deal depends upon
the laying of the etching-ground for ruling, and upon the biting-in of the lines ruled,
we were greatly favoured in procuring the services of Mr. J. W. Steel, a well-known
artist of this city, and singularly qualified for this branch of the engraving art*
PLATE I.
GOLD COINS OF THE UNITED STATES.
1. Eagle, or ten dollars, 1795-96.
Obverse. Female head, clothed with the liberty-
cap ; 15 stars around the border; legend, Liberty.
Date.
Reverse. An eagle, holding in its beak a laurel
chaplet, and in its talons a palm branch ; legend,
United States of America.
2. Eagle, 1797 to 1604.
Obverse. As in No. 1 ; with 16 stars.
Reverse. An eagle, (larger than the above) bearing
a shield on its breast ; in its beak, a scroll, with the
motto, E pluribiis Unum — " out of many states one
nation." One talon grasps a bundle of arrows, the
other, a laurel branch. Over the eagle's head, clouds,
and 13 stars. Legend, United States of America.
3. 4. Half eagles, corresponding to 1 and 2.
5. Half eagle, 1808 to 1834.
Obverse. Female head, in a dress of the fashion
* After the plates are finished, and in the best manner, their effect may yet be marred by inattention or want of skill
in the copper-plate printer; indeed, printing from such plates is a distinct branch of the trade. We take pleasure
in affixing the imprint of Mr. D. Stevens, of tuio city.
48
190
DESCRIPTION OF THE PLATES.
of 1808 ; on the band, Liberty, on the border, 13
stars, and date.
Reverse. An eagle, with shield, &c. Instead of
the clouds and stars, a scroll, with E flukibus Unum.
Legend, United States of America.
6. Half eagle, under the law of 1834. 1834-36.
Obverse. Female head, uncovered ; the locks con-
fined by a band, with the motto Liberty. Date, and
13 stars.
Reverse. As No. 5, but without E plubibus Unum.
7. Quarter eagle, corresponding to No. 6.
8. Eagle, under the law of 1837. 1838-42. (No
eagles were coined from 1805 to 1837, both dates
inclusive.)
Obverse. Female head, new device ; 1 3 stars and
date.
Reverse. Eagle, as above; legend, United States
op America. Ten D.
9. 10. Half and quarter eagle, corresponding to
No. 8.
PLATE II.
silver coins of the united states.
1. Dollar, 1794-95.
Obverse. Female head, with loose tresses ; the motto
Liberty over it, and 15 stars around the border.
Date.
Reverse. An eagle, surmounted by a wreath. Le-
gend, United States of America.
2. Dollar, 1795-96.
Obverse. Female head and bust ; the hair secured
by a band, the knot of which is seen behind. Motto,
&c, as above.
Reverse. As in No. 1 ; but the eagle is smaller,
and the talons rest on clouds.
3. Dollar, 1797-1805. The head as in No. 2;
the reverse, same as on the eagle of like date.
4. Half dollar, corresponding to No. 3.
5. Half dollar, 1808-36. Obverse and reverse, as
the half eagle.
In 1831, the scroll and motto E pluribus Unum
were removed from the quarter dollar ; and in 1837,
from the half dollar.
No dollars were coined from 1806 to 1835. In
1836, one thousand pieces were struck, bearing on
the reverse a flying eagle. This device was not con-
tinued.
6. Half dollar of 1837-38.
On this coin appears Half Dol. instead of 50 C,
and the edge, which formerly bore the words Fifty
cents or half a dollar, is reeded.
7. Dollar, 1837-42.
Obverse. Female figure at full length, seated on a
rock, and holding a shield, on which is inscribed the
word Liberty ; in the other hand, a staff and liberty
cap. Date, and 13 stars.
Reverse. As on the half dollar, with slight modifi-
cations.
8. 9. 10. 11. Half dollar, dime, half dime and
quarter dollar.
12. 13. Dime and half dime, of 1837, without
stars.
PLATE III.
1. Doubloon of Mexico, 1824-40. A^alue, $15 53.
Obverse. La Libertad en la Ley. 8 E. Mo.
21 Qs. 1825. Liberty in (or according to) Law. 8
Escudos. Mexico mint. 21 Carats.
Reverse. Republica Mexicana. Mexican Re-
public.
2. Dollar of Mexico, under the Emperor Augustin
Iturbide, 1822-23.
Obverse. Augustinus Dei Providentia. Augus-
tin, by the Providence of God.
Reverse. Mex. Imperator Constitut. 8 R. Con-
stitutional Emperor of Mexico. 8 Reals.
3. Dollar of the Republic of Mexico, 1823-41.
Obverse. 8 R. Pi. 1829. J. S. 10 D. 20 G. 8
Reals. Potosi mint. J. S. (Assayer,s initials.) 10
dineros, 20 granos fine.
Reverse. As in No. 1. Some of the early dollars
had a side view of the eagle, with the beak turned
downwards. They were called agacliados. (See
Mexico.)
4. Dollar of Central America, 1824-36.
Obverse. Libre cresca fecundo. N. G. 10 D.
20 G. In freedom may it be fruitful. New Guati-
mala, &c.
Reverse. Republica del Centro de America.
Republic of Central America. In the gold coin, the
sun is directly above the volcanos ; in the silver, it is
setting behind them.
5. Half doubloon of Ecuador, formerly a state of
Colombia. Value $7 60.
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DESCRIPTION OF THE PLATES.
191
Obverse. El Poder ex la Constitucion. 21 Qs.
1836. 4 E. Tlie power in the constitution. 21 carats.
4 escudos.
Reverse. Republics del Ecuador. Quito.
G. Doubloon of Colombia, 1823-30. Value $15 39.
Obverse. Republica de Colombia.
Reverse. Popayan. Popayan mint. Others have
Bogota, for the mint at that place ; they are worth
§15 61. (Sec Colombia.)
7. Doubloon of New Granada, formerly part of Co-
lombia, 1837-33. Value $15 61.
Reverse. Diez y Seis Pesos. Bogota. Sixteen
dollars. Bogota.
8. Old base dollar of Colombia. The reverse omit-
ted, for want of space.
9. Dollar of Colombia, 1835-36. Value 102 cents.
Reverse. Libertad. Ba. Colombiano Ociio
Reales. Liberty. Bogota. Eight reals of Colombia.
10. New base dollar of New Granada, 1839. Value
65 cents.
Reverse. Vale ocho reales. Lei ocho dineros.
Bogota. Value eight reals. Eight dineros fine. Bo-
gota mint.
PLATE IV.
1. Doubloon of Peru, 1826-37. Value $15 55.
Obverse. Firme y Feliz por la Union. Firm and
happy through the union.
Reverse. Republica Peruana. M. 8 E. Repub-
lic of Peru. Lima mint. 8 escudos.
2. Early dollar of Peru. 101 cents.
Obverse. Por la Virtud y la Justicia. By vir-
tue and justice.
Reverse. Peru Libre. M. 8 R. Free Peru.
Lima mint. 8 reals.
3. Dollar of North Peru. 101 cents.
Obverse. As in No 1.
Reverse. Est. Nor. Peruano. M. 8 R. State of
North Peru. The devices are the same as the Peruvian
dollar before the partition, except the legend, which
was Republica Peruana.
4. Dollar of South Peru. 100-8 cents.
Obverse. Repub. Sud. Peruana. Cuzco, 1838.
Republic of South Peru. Cuzco mint.
Reverse. Firme por la Union. 10 D. 20 G.
Confederacion.
5. Quarter dollar of Peru, Lima mint. 25 cents.
6. Old doubloon of Chili, 1819-34. Value $15 57.
Obverse. Estado de Chile, constit. indepen-
diente. A.D.I 818. State of 'Chili, with an inde-
pendent constitution. The date is the year of the
constitution, not of the coin.
Reverse. Por la Razon, o la Fuerza. 8 E. 1822.
By reason, or by force.
7. New doubloon of Chili, since 1835. Value
$15 66.
Obverse. Republica de Chile. S°. 1836. Repub-
lic of Chili. Santiago mint.
Reverse. Igualdad ante la Lei. 8 E. 21 Qs.
Equality before law.
8. Dollar of Chili. Value 101 cents.
Obverse. Chile Independiente. Un peso. San-
tiago. Independent Chili. One dollar.
Reverse. Union y Fuerza. Libertad. Union
and strength. Liberty.
9. Doubloon of Bolivia, 1827-36. Value, $15 58.
Obverse. Libre por la Constitucion. Free by
the Constitution.
Reverse. Republica Boliviana, Ps. 8s. Bolivian
Republic, Potosi, 8 scudos.
10. Half dollar of Bolivia. The pieces of 1830,
and since, are of base alloy.
PLATE V.
1. Moidore, or 4000 reis, of Brazil, 1779-1819.
Value, $4 92.
Obverse. Joannes VI. d. g. Port. Bras, et Alg.
Rex, 1819. John VI. by the grace of God, King of
Portugal, Brazil, and Algarves.
2. Half-joe, or 6400 reis, 1833-38. $8 72.
Obverse. Petrus II. d. g. c. Imp. et Perp. Bras.
Def. 1838. Peter II. by the grace of God, Constitu-
tional Emperor, and Perpetual Defender of Brazil.
Reverse. (In very small letters) In hoc S. vinces.
By this sign (alluding to the cross) thou mayest con-
quer.
3. Silver piece, of 640 reis, 1816-21. Value
67-5 cts.
Obverse. As in No. 1 ; with the addition of R, for
Rio Janeiro, and 640.
Reverse. Nata stab. subq. sign. Born under a
steady sign.
4. 640 reis, 1822-26.
Obverse and Reverse, see No. 2.
192
DESCRIPTION OF THE PLATES.
5. 1200 reis, 1837-38.
Obverse and Reverse, see No. 2.
6. British colonial quarter dollar, 1822. 25 cts. (See
West Indies.)
Obverse. Georgius IV. d. g. Britanniarum Rex,
p. d. George TV. by tlie grace of God, King of tlie
British islands, Defender of the Faith.
Reverse. Coloniae. Beitan. Monet. Money of
the British colonies.
7. 20 skilling piece of Danish West Indies, 1816.
12-5 cts.
Obverse. XX skilling Daksk Amerikansk mtkt.
20 shillings, Danish- American money.
8. Dollar, or three guilders, of Demerary. 80 cts.
(See Guiana).
Obverse. See No. 6.
Reverse. United Colony of Demerary and
Esseo.uibo.
9. 50 centimes of Hayti. 16 cts.
Obverse. J. P. Boyer, President, an. 25.
Reverse. Refubliuue d'Haiti. Republic of Hayti.
10. Dollar of La Plata, 1828, (See Argentine Re-
public.)
Obverse. Provincias del Rio de la Plata. Pro-
vinces of Rio de la Plata.
Reverse. En Union y Libeetad, 8 r. In union and
liberty. 8 reals.
Since this plate was engraved, new dollars of the
Argentine Republic have been received. The legends
are,
Obverse. Repuis. Argentina Confedeeada. Con-
federated Argentine Republic.
Reverse. Eteeno Looe al Restaueador Rosas.
Eternal praise to the restorer Rosas.
PLATE VI.
1. Guinea of Great Britain, 1760-85. Value
$5 02.
Obverse. Georgius III. Dei Geatia. George III.
by the grace of God.
Reverse. 1774. M. B. F. et H. Rex, F. D. B. et
L. D. S. R. I. A. T. et E. King of Great Britain,
France, and Ireland ; Defender of the Faith ; Duke
of Brunswick and Luneburg ; Arch Treasurer and
Elector of the Holy Roman Empire. (The allusion
is to the empire of Germany.)
2. Guinea of 1787-98. $5 04. The legends as
before. The only change is in the shield, on the re-
verse.
3. Half guinea, 1801-13. $2 52.
Obverse. As in No. 1 .
Reverse. Britanniarum Rex, Fidei Defensor.
Honi soit qui max y pense. King of the British
islands, Defender of the Faith. Shame to him who
thinks evil of it. (The latter legend is within the
other, and on the shield.)
4. One-third guinea, 1806-13. $1 65. Legends
as in No. 3, except " Honi," &c.
5. Sovereign, 1817-20. §4 83.
Obverse. Georgius III. D. G. Britanniarum
Rex.
Reverse. Honi soit, &c.
6. Five sovereign piece, 1826. $24 25.
Obverse. Georgius IV. Dei Gratia.
Reverse. Britanniarum Rex, Fid. Def.
The coins of this size are show pieces, not meant
for circulation. The double sovereign is the largest
current coin, but is seldom seen.
7. Sovereign, 1831-36. $4 85.
Obverse. Gulielmus IIII. D. G. Britanniah.
Rex, F. D.
Reverse. Anno 1831.
8. Sovereign, 1838-40. $4 86.
Obverse. Victoria Dei Gratia.
Reverse. Britanniarum Rf.gina. Fid. Def.
9. Shilling, 1787. 23 cts ; legends as in No. 1.
In 1804, Spanish dollars were re-stamped as Tokens
for Five Shillings, by the Bank of England. The
legends are,
Obverse. Georgius III. Dei Gratia Rex.
Reverse. Bank of England, Five Shillings,
Dollar.
The Bank of Ireland, in like manner, converted
them into Tokens for Six Shillings Irish. Other
tokens, for smaller amounts, were plentifully issued
from 1804 to 1815. (See Britain.)
10. Half crown, 1817-20. 54 cts. ; legends nearly
as in No. 3.
11. Shilling of George IV. 1825. 21-7 cts.
12. Crown of George IV. 1822. $1 09. The
half crowns of this monarch, besides the usual legends,
bear the motto, Dieu et mon droit. God and my
right.
On the edge of the crown, are the words Decus et
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.
DESCRIPTION OF THE PLATES.
193
Tutamen.* Anxo Regni Secundo. Ornament
and safety, (that is, tliis mode of milling the coin is at
once an ornament, and a protection against clipping.)
Second year of the reign,.
13. Half crown of William IV., 1831-36. 54 cts. ;
legends as in No. 7.
14. Shilling of Victoria, 1838-40. 21-7 cts.
PLATE VIF.
1. Double louisd'or of France, 1786-92. Value
89 12.
Obnrse. Liu. XVI. D. G. Fr. Nav. Rex. Louis
XVI. by (lie grace of God, King of France and Na-
varre.
Reverse. Cues. Regn. Vinc Imper.J" 1786. W.
Christ reigns, conquers, governs. The letter W. is
the mark of the mint at Lille.
2. Double Napoleon, or 40 francs. Years 11, 12,
of the Republic. $7 68.
Obverse. Bonaparte, Premier Consul. Bona-
parte, First Consul.
Reverse. Republique Francaise. 40 Francs.
French Republic, &c. Letter A, for the Paris
mint.
Edge. Died protege la France. God protect
France.
3. 40 francs, 1804-14. $7 68.
Obverse. Napoleon Empereur. On the reverse,
for the first few years, was continued the legend Re-
puiiLiftuE Francaise, but afterwards it gave place to
Empire Francais. The edge as in No. 2.
4. 40 francs, 1816-24. $7 68.
Obverse. Louis XVIII., Roi de France. Louis
XVIII., King of France.
Reverse. 40 F. (Pieces of 1815 had on the reverse,
Piece de 20 francs.)
On the edge, Domine Salvum Fac Regem. God
save the King.
5. 40 francs of Charles X., 1824-30. $7 69;
legends as before.
6. 20 francs, 1830-40. $3 85.
* This motto first appeared on the crowns of Charles II.
It is said to have been borrowed from an inscription in the
vignette of a New Testament, belonging to Cardinal
Richelieu.
| This legend was introduced by Louis IX. (called St.
Louis) about the year 1250. It was discontinued at the
Revolution of 1792.
49
Obverse. Louis Philippe I., Roi des Francais.
Louis Philippe I. King of the French.
Edge. DlEU PROTEGE LA FRANCE.
7. Half crown, 1774-92. 54 cts.
Obverse. As in No. 1.
Reverse. Sit Nomen Domini Benedictum. Bless-
ed be the name of tlte Lord. On the edge, Domine
Salvum Fac Regem.
8. 5 francs, years 4 and 5. 93 cts.
Obverse. Republiuue Franchise. 5 Francs.
L'An. 5. Q. The letter Q is the mint-mark at
Pcrpignan.
Reverse. Union et Force. Union and Strength.
On the edge, Garantie Nationale. National
guarantee.
9. 5 francs of Napoleon. 93 cts. The series
corresponds to the gold of the same date ; see Nos.
2 and 3.
10. 2 francs of Louis XVIII. 37-5 cts.
11.2 francs of Charles X. 37-5 cts.
12. 5 francs of Louis Philippe. 93 cts.
13. 2 francs of Louis Philippe. 37'5 cts.
PLATE VIII.
1. Doubloon of Spain, 1789-1808. Value$15 57.
Obverse. Carol. Ill I. D. G. Hisp. et Ind. R.
Charles TV., by the grace of God, King of Spain
and the Indies.
Reverse. In utroq.. felix auspice Deo. Happy
in both under the Divine auspices. (The word both,
we presume, refers to Spain and the Indies.)
2. Pistole, or quarter doubloon, of Ferdinand VII.
S3 90. Legends as above.
3. Pistole of Ferdinand, since the revolution of
1821. 83 90.
Obverse. Fern. 7° por la g. de Dios y la Const.
Ferdinand VII. by Divine grace and tlw Constitu-
tion.
Reverse. Rey de las Espanas. King of Spain.
An M crowned, for the Madrid mint ; and 80 R. for
80 reals vellon.
4. Cross pistareen. 1759-71. 19 cents.
Obverse. Carolus III. D. G.
Reverse. Hispaniarum Rex. The devices are the
same as those of the Peninsular dollar.
5. Pillar dollar. 1772-1825. $1 00. The legend
contains the additional words, et Ind., and the Indies,
194
DESCRIPTION OF THE PLATES.
referring to the colonies in America, where this piece
was struck. The pillars are meant to represent the
two promontories which form the Straits of Gibraltar,
anciently known as the " Pillars of Hercules ;" on
these is a scroll, with the motto Plus Ultra, more
beyond.* The previous coinage of the colonies ex-
hibited two hemispheres, representing the old world
and the new, with the motto Vtraqve Vnvm, both
one. The devices on the old cob dollars are noticed
at page 120.
6. Dollar of Joseph Bonaparte. 1809-13. $1.00.
7. New dollar of Ferdinand VII. 1833.
Obverse. Fernando 7°. for la G, de Dios.
Reverse. Rey de Espana y de las Indias.
8. Dollar of Isabel II. 1830.
9. Half-joe, or 6400 reis, of Portugal. 1727-1824.
$8 54 to 8 70.
Obverse. Maria I. D. G. Port, et Alg. Regina.
Maria I. by Divine Grace, Queen of Portugal and
Algarves.
The reverse is without any legend.
The moidore series, 1689 to 1726, (necessarily
omitted,) bore a loaded cross, with the legend, In Hoc
Signo Vinces ; by this sig?i thou mayest conquer.
The number oVrcis, as 1000, 4000, &c, was stamped
on the side of the shield.
10. New gold coroa, or crown. 1838. $5 81.
Obverse. Maria II. Port, et Algarv. Regina.
Reverse. 5000 Reis.
11. Silver cruzado of 480 reis. 1795-1826. 54
cents.
Obverse. Joannes D. G. Port, et Alg. P. Regens.
John, by Divine Grace, Prince Regent of Portugal
and Algarves.
Reverse. In Hoc Signo Vinces.
12. Piece of 200 reis. 1838. 22-6 cents. Legends
as in No. 10.
PLATE IX.
1. Quadruple ducat of Austria. 1840. $9 14.
Obverse. Ferd. I. D. G. Avstr. Imp. Hung. Boh.
R. H. N. V. Ferdinand I., by the grace of God,
Emperor of Austria, King of Hungary and Bohemia.
(The H. N. V. we cannot explain.)
* Pillar dollars were struck for a short time in Spain,
after the revolution of 1821. The legends were in Spanish.
Reverse. Rex Lomb. et Ven. Dalm. Gal. Lod.
III. A. A. (4.) King of Lombardy and Venice, Dal-
matia, Galizia, Lodomiria, Illyria ; Arcliduke of
Austria. The figure 4 signifies four ducats.
The single ducat bears the same legends.
The ducat of Francis I. bore on the obverse, Fran-
ciscvs I. D. G. Avstriae Imperator.
2. Kremnitz, or Hungary ducat. 1839. $2 28.
The legend of the obverse consists of abbreviated
titles, nearly as above. On the reverse is the figure
of the Virgin and Child, with the legend, S. Maria
Mater Dei, Patrona Hung. 1839. Holy Mary,
Mother of God, Patroness of Hungary.
3. Sovereign. 1831-39. $6 75. Legends as in
No. 1.
4. Imperial thaler or rixdollar. 1853-1840. 97
cents.
Obverse. M. Theresla, D. G. R. Imp. Hu. Bo.
Reg. Maria Tlieresa, &c.
Reverse. Archid. Aust. Dux Burg. Co. Tyr.
Archduchess of Austria, Duchess of Burgundy,
Countess of Tyrol.
On the edge, Justitia et Clementia. Justice
and Mercy.
Some of the rixdollars of the Empress were without
her effigy, bearing instead the inscription, in a wreath,
ad normam Convent. At the rate of the Convention.
That is, often dollars to the Cologne mark fine.
The Kremnitz or Hungary dollars also omitted the
head of the Empress, and bore the devices stated in
No. 2.
5. Hungary dollar, of Joseph II. 1782. 97 cents.
See No. 2.
6. Zwanziger, or 20 kreutzer piece of Francis I.
1827. 16 cents.
7. Rixdollar of Ferdinand I. 1840. 97 cts.
8. Piece of 20 kreutzers. 1840. 16 cts.
9. Hungary rixdollar. 1839. 97 cts.
10. Scudo of Lombardy. 1839. 97 1 cts.
The scudo resembles the rixdollar in its devices and
legends, and can only be distinguished by the quarter-
ings on the shield. On the Lombard coins the serpent
is conspicuous.
The old Brabant crown, which ceased to be coined
about the year 1800, but is still current, is necessarily
omitted. It is distinguished from money properly
Austrian, by not bearing the double-headed eagle, but
instead thereof, an ornamented cross, in the fashion
AFOTMA.
PI. IX.
SWKiHE'X J):K,^;KiKK. A'KTH F,iKil„AHlDS *
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DESCRIPTION OF THE PLATES.
195
of the letter X, with the legend, Arch. Avst. Dvx
Bvru. Loth. Bbab. Com. Flan. Archduke of
Austria ; Duke of Burgundy, Lorraine and Bra-
bant ; Count of Flanders. SI 06.
11. LiraofLombardy. 1839. 16 cts. The legend
(besides some of the usual titles) bears the words Lira
AvSTRIAl A.
PLATE X.
1. Specie dollar of Norway. 1831. $1 06.
Obverse. Carl XIV. Johan. Noroes Sver. G. og
V. Konge.
Charles John XIV., King of Norway, Sweden,
Guilts, and Vandals.
Reverse. 1 Sps. 9jst. 1 Mk. F. S. One specie
dollar ; 9.J pieces to a mark of fine silver. The two
hammers crossed refer to the silver mines of Norway.
In former times a couplet was introduced into the
legend, which ran thus :
Mod troskab dapferhed, oghvad der aere
Giver den heele verdenrand blant Norske
klipper laere.
Spirit, loyalty, valour, and whatever ishonourable,
let the whole world learn among the rocks of Norioay.
2. Specie dollar of Sweden. 1830-41. $1 06.
Obverse. Carl XIV., Sveriges Norr. Goth, ocn
V. KoNUNG.
Charles XIV., King of Sweden, Norivay, the
Goths and Vandals.
Reverse. Folkets Karlek min Beloning. 1r. sp.
The people's love is my recompense. 1 rixdollar
Formerly, other legends were used, such as
Faderxes Landet, the land of our fathers ; Gud
och Folket, Gnd and the people, &c.
3. Ducat of Sweden. 1838. $2 26. Legends
as in No. 2.
4. Specie ducat of Denmark. 1791-1802. $2 27.
Obverse. Moneta Aurea Danica. Gold money
of Denmark.
Reverse. Inscription. 1 species ducat. 23i
Karat. 67 stykker, 1 mark bkuto. One specie
ducat, 23J carats fine, 67 pieces to the mark gross.
The current, ducat, of earlier date, bore the king's
head, with the legend Christianus VII. D. G. Rex,
Dan. Nor. V. G. Christian VII. by Divine grace
King of Denmark, Norway, Goths and Vandals.
On the reverse, Gloria ex amore patri.e. XII M.
Glory from the love of our country. Twelve marks.
Value $1 81.
5. Double Frederickd'or, or ten thaler piece.
1813-39. $7 88.
Obverse. Fredericus VI. Rex Danijj.
Reverse. 2 Fr. D'or.
The Christiand'or, of 1775, bore the same legends
as the current ducat, above described; but the reverse
had three crowns in the device, while the ducat had
but one. Value $4 01.
There is some variation in the devices of the double
and single Fredericks, but none in the value.
6. Specie rixdollar, or double rigsbank daler.
1837-39. $1 05.
Obverse. Fredericus VI. D. G. Dan. V. G. Rex.
Reverse. En Rigsdaler species.
7. Forty francs, of Belgium, 1835. $7 67.
Obverse. Leopold Premier, Roi des Belges. Leo-
pold I. King of the Belgians.
Reverse. 40 Francs.
8. Silver franc, 1835. 18-6 cts. ; legends as in
No. 7.
9. Ten guilder piece of Netherlands, 1816-39.
$4 00.
Obverse. Willem Koning der Ned. G. H. V. L.
William, King of the Netherlands, Grand Didce of
Luxemburg.
Reverse. Munt van het Koningryk der Neder-
landen, 10 G. Money of llie kingdom of Nether-
lands.
Edge. God zy met ons. God be with us.
10. The Holland, or Netherlands ducat, 1770-
1839. $2 26.
Obverse. Inscription. Mo. Aur. Reg. Belgii ad
Legem Imperii. Gold money of the Belgian king-
dom, at the rate of the Empire ; referring to the
German standard of 67 ducats to the mark. In
former years, the inscription ran thus : Mo. ord.
Provin. Foeder. Belg. ad Leg. Imp. The common
com of the Federal Belgic Provinces, at the Imperial
rate.
Reverse. Concordia res parvae crescunt.
Small things increase by concord. The earlier
ducats (before the monarchy) add the name of the pro-
vince ; as, Tra. for Utrecht, Hoi. for Holland, &c.
196
DESCRIPTION OF THE PLATES.
11. Silver ducatoon, coined for the East Indies,
1766-1804. $1 26.
Obverse. Mo. No. Arg. Conf<e. Belg. Pro. Thai.
New money of the confederated Belgian Provinces.
Utrecht.
Obverse. As in No. 10.
The patagon, or leg-dollar (not in the plate) may
be known by a military figure, on foot ; the legends
as in No. 11.
The florin or gulden series, before the monarchy,
(also omitted) is distinguished by a female figure, and
the motto Hanc Tvemvr Hac Nitimvr. This tec
support — on this we depend.
12. Quarter florin, or piece of 25 centimes, of
Netherlands, 1824-30. 10 cts.
13. Florin of King William, 1816-38. 40 cts.;
legends as in No. 9.
14. Piece of two marks current, or 32 schillings,
of Hamburg, 1808. 57 cts. On the reverse is 17
eine mark FEIN. 17 pieces to the fine mark.
PLATE XI.
1. Gold piece of five roubles, of Russia. $3 97.
No legend on the obverse. On the reverse, (in the
Russian language and character), 5 roubles, 1839,
pure gold, 1 solotnik 39 dolie.
2. Platinum piece of three roubles.
Reverse. 3 roubles silver, 2 solotniks 41 dolie, Oural
platinum.
3. Ten thaler piece of Mecklenburg-Schwerin.
$7 89.
Obverse. Paul Friedr. Grosherzog v. Mecklen-
burg-Schwerin. Paul Frederick, Grand Duke of
&c.
Reverse. Zehn Thaler. Ten thalers, or dollars.
4. Silver rouble of Alexander, of Russia, 1807.
75 cts.
5. Piece of 1J roubles, or 10 zlotych of Polish
Russia, 1835. $1 14.
6. Piece of 5 zlotych, of independent Poland, 1831.
56 cts.
Obverse. Krolestwo Polske. Kingdom of Po-
land.
Reverse. 5 zlot. Pol. Roku, 1831. 5 Polish zlot.
year 1831; and a legend signifying Yl\\\ pieces to a
fine mark.
On the edge, Boze Zbaw Polske. God save Po-
land.
7. Silver rouble of Nicholas, of Russia. 75 cts.
Obverse. Pure silver, 4 solotniks 21 dolie.
Reverse. Money Rouble, 1838.
8. Frederickd'or, or gold piece of five thalers, of
Prussia.
Obverse. Friedr. Wilh. III. Koenig v. Preussen.
Frederick William III. King of Prussia.
9. Double Frederickd'or. $7 94.
10. 11, 12. Prussian rcichs thaler, or rixdollar ; dif-
ferent dies. 68' 5cents. On the reverse, Vierzeiin
eine feine mark ; fourteen to a fine mark.
13. Piece of five drachmai, or drachms, of Greece.
1833. 83-6 cents.
Obverse. (In Greek language and character.) Olho,
King of Greece.
PLATE XII.
1. Gold five thaler piece of Saxony. $3 97.
Obverse. Friedricii August. V. G. G. Koenig
v. Sachsen. Frederick Augustus, by Divine grace,
King of Saxony.
Reverse. Funf Thaler. Five dollars.
2. Ten thaler piece of Anthony, of Saxony, 1830-
36. S7 94.
3. 4. Convention thalers of Saxony, of ten to a fine
mark. 97 cents. On the edge, Gott segne Sach-
sen. God bless Saxony.
5. Convention florin, or half-thaler, of Saxony. 48
cents.
6. New rixdollar of Saxony, fourteen to the fine
mark. 69 cents.
7. 8, 9. Ten thaler pieces of the Duke of Bruns-
wick and Luneburg ; the first of Frederic William,
the others of William. $7 89.
10. Piece of four good groschen, of Brunswick.
12 cents.
11. Thaler, of the same, at fourteen to a fine
mark. 69 cents. On the edge, Nec Aspera Ter-
rent. Rough places do not deter him*
12. Five thaler piece of William IV. of Hanover.
$3 94.
13. 14, 15. Ten thaler pieces of George III.,
* Formerly the motto over the salient horse, on Bruns-
wick coin9.
IH'SSIA I'KI'.S.S l.\ ,v f ,
<, ft A.PAX.MAI .,-
i:ki v.S»riCK iia.vovki; .SAXIWY.
Bi»EAT_BAX&KIA JJfllKTEMBERGr &c.
Ft.MU
M»Tr^KUI,.\,V|) IT.\I,V,
// .///:
'
I
DESCRIPTION OF THE PLATES.
197
George IV., and Ernest Augustus, of Hanover. The
first two, S7 84 ; the last, $7 89.
16. Florin, or zucy-drittel of Hanover. 1839. 54-7
cents.
Reverse. Nacii dem Leifziger Fusse. Feines
Silber. On the basis of Lcipsick. Fine silver.
PLATE XIII.
1. Piece often florins, of Baden. 1819. $4 08.
Obverse. Ludwig Grosherzog von Baden. Louis,
Grand Duke of Baden.
Reverse. 10 G. for ten guilders, gulden or florins.
2. Crown-dollar, of Baden. Si 07.
3. Gulden of Baden. 1837-39. 39-7 cents.
4. Crown of Bavaria. 1809-25. $1 07.
Obverse. Ludwig, Koenig von Bayern. Louis,
King of Bavaria.
Reverse. Gerecht und Behaeelich. Just and.
constant.
On the edge, Bayerischer Kronthaler. Bava-
rian Crown Dollar. The crown of his predecessor
bore the following legends :
Obverse. Maximilianus Josephtjs, Bavariae Rex.
Reverse. Pro Deo et Populo. For God and the
People.
The convention dollar bore the Virgin and Child,
(like the dollar of Hungary,) with the legend Patrona
Bavariae ; Patroness of Bavaria.
5. 6, 7, 8. New florins of Bavaria, Nassau, Hohen-
zolIern-Sigmaringen, and the free city of Frankfort.
39-7 cents.
9. Ducat of Wurtemberg. 1818. $2 23.
Obverse. Wilhelm, Koenig von Wurttemb.
10. Piece of five florins, or gulden, of Wurtemberg.
$2 04. (At page 148 it is erroneously stated that
the ducat is the only gold coin. This has not been
assayed, but it is presumed to be of the same fineness
as piece No. 1, above.)
11. Crown dollar of Wurtemberg. 1818-33. $1 07.
On the edge, Furchtlos tjnd Treo. Fearless and
true.
12. Dollar of Hesse Cassel. 1832-37. 69 cts.
Obverse. Wilh. II. Kurf. u. Feiedr. Wilh.
KUHPR. U. MlTREGENT.
William II. Flector, and Frederick William,
Electoral prince and co-regent.
50
Reverse. Kurfurstenthum Hessen. Ein Thaler
XIV eine feine mark.
Electorate of Hesse. One dollar. Fourteen to a
fine mark. On the edge: Gott ueschirme uns. God
■protect vs.
13. Piece of 36 grotes, of Bremen. 1840. 35-7 cts.
Obverse. Freie Hansestadt Bremen. Free
Hanse town of Bremen.
14. New two dollar piece, of Hesse Darmstadt.
1839. $1 39.
Obverse. Ludwig II. Grosherzog von Hessen.
Louis II. Grand Duke of Hesse.
Reverse. Vereins Munze. 3J gulden. 2 Tha-
ler. VII eine feine mark. Union money, &c.
On the edge, Convention vom 30 July, 1838.
PLATE XIV.
1. Swiss crown, or piece of four franks. 1814.
$1 10.
Reverse. ScnwEizER* Eidsgenossen' XIX. Cant.
4 Franken. Swiss confederacy, 19 cantons, &c.
2. Piece of 25 centimes, of Geneva. 1839. 4 cts.
Reverse. Post Teneeras Lux. Light after dark-
ness. (The distinctions of the coin of the various
cantons may be seen further by referring to the
article Switzerland.)
3. Piece of 40 lire, or 40 francs, of the kingdom
of Napoleon in Lombardy. 1805-14. $7 70.
Obverse. Napoleone Imperatore e Re. Napo-
leon, Emperor and King.
Reverse. Regno d'Italia. Kingdom of Italy.
4. Piece of 20 lire or francs, of Sardinia. 1815-36.
$3 84.
Obverse. Vic. Em. D. G. Rex Sar. Cyp. et. Hier.
Victor Amadeus, by the grace of God, King of Sar-
dinia, Cyprus, and Jerusalem.
Reverse. Dvx Sab. et Montisf. Princ. Ped.
L. 20. Duke of Savoy and Montisferrat, Prince
of Piedmont. 20 lire.
5. Piece of 40 lire, of Charles Felix, of Sardinia.
$7 65.
6. Piece of 5 lire, of Charles Albert, of Sardinia.
93 cts.
7. Sequin, or zecchino of Tuscany. 1824-34.
$2 30.
Obverse. Leopoldvs II. D. G. A. A. M. D. Etr.
198
DESCRIPTION OF THE PLATES.
Leopold II. by Divine grace, Archduke of Austria,
Grand Duke of Etruria, or Tuscany.
Reverse. S. Joannes Baptista. St. John Baptist.
8. Half leopoldone, or five pauls, of Tuscany. 52 cts.
Obverse. Leopoldvs II. D. G. P. I. A. P. R. et
B. A. A. Magn. Dvx Ete. Leopold II. by Divine
grace, Prince of tJie Austrian empire, Prince Royal
of Hungary and Bohemia, Arcliduke of Austria,
Grand Duke of Tuscany.
Reverse. Nostee Deus Susceptob. Pisis. God
undertakes for its. Struck at Pisa.
9. Florin of Tuscany. 1826-28. 26 els.
Obverse. Leopoldo II. A. D. A. Granduca di
ToSCANA.
Reverse. Fioeino. Quattrini cento. Florin
of one hundred quattrini.
10. Piece of ten scudi, of Rome. 1835-36.
$10 36.
Obverse. Gregoeivs XVI. Pon. Max. A. VI.
Gregory X VI. sovereign pontiff, year VI.
11. Silver testone, or 30 bajocchi, of Rome. 30 cts.
Obverse. Sede vacante, mdcccxxx. Tlie See
being vacant, 1830.
Reverse. Veni Lumen Cordium. Baj. 30. Come
thou, the light of all liearts, (referring to the Dove, or
Holy Spirit.) There is a great variety in the devices
on Papal coins.
Pieces formerly struck at Bologna, bore the legend
Bononia docet, Bologna leaches, (referring to the
great University) ; or, Populus et Senatus Bon.
People and Senate of Bologna.
12. Piece of 20 lire, or francs, of Naples. $3 84.
Obverse. Gioacchino Napoleone. Joachim Na-
poleon (Murat).
Reverse. Regno delle due Sicile. 20 liee.
Kingdom oftlie two Sicilies, &c.
13. Scudo, or piece of 12 carlins, of Naples. 95 cts.
Obverse. Ferdinandus II. Dei Gratia, Rex.
Reverse. Regni vte. Sic. et Hiee. G. 120.
Kingdom of tlie two Sicilies, and Jerusalem. 120
Grani.
Pieces of the island of Sicily bear an eagle, instead
of the shield.
PLATE XV.
1. Yuzlik, or 2 i piastres, of Turkey, 1831-32.
7 cts.
Obverse. The toghra or cipher of Sultan Mahmoud.
This is said to be an involution of the letters of his
name, but so fanciful a one, that common readers
cannot disentangle it.
Reverse. (In Arabic.) Struck at Constantinople.
At the bottom is the date 1223, corresponding to A. D.
1808 ; at the top the figures 24, meaning that year of
Mahmoud's reign, and which added to 1223, gives
1247, or A. D. 1831-2, the true date of the coin.
2. Altmichlik of Abdul Medjid, 1840. H cts. ; the
inscriptions as before.
3. Gold bedidlik of Mehemet Ali, of Egypt, 1839.
$4 97.
Obverse. The cipher of Sultan Abdul Medjid ; un-
derneath, G. 100, for 100 ghersh, or piastres.
Reverse. (In Arabic.) Struck at Misr (Egypt),
1255. The I at top signifies the first year of the sul-
tan's reign.
4. Real, of 20 piastres. 97 cts. ; inscriptions as
before.
5. Ghersh of Youssuf, Bashaw of Tripoli, 1832.
10 cts.
Obverse. Cipher of Sultan Mahmoud ; underneath,
in Arabic, Struck in Tripoli of the West, 1223.
Reverse. Sultan of two continents (or lands) and
monarch of two seas, sultan, son of the sultan, 25.
This is the date of the reign, which, added to 1223,
on the obverse, gives the date of the coin.
6. Half ghersh, of the same. 5 cts. On this coin
the date of the reign (28) is on the same side as the
cipher ; on the other side is struck at Tripoli of the
West, 1223. (The designation " of the West" distin-
guishes it from the pachalic of Tripoli in Syria.)
7. Double piastre, of the Bey of Tunis, 1829.
26 cts.
Obverse. (In Arabic.) Sultan of two lands, and
sovereign of two seas, sultan, son oftlie sulta?i. In the
middle, May God bless him greatly.
Reverse. The Sultan Mahmoud Khan, son of tlie
Sultan Abdul Hamid, servant of tlie Praised One ;
may God continue his kingdom. In the middle, Struck
in Tunis, 1245.
8. Piastre of Tunis, 1839. 13 cts. ; the obverse is
as in No. 7, except that it reads as an inscription, and
not as a legend. The reverse is simply, Struck in
Tunis, 1255.
9. Coin of Algiers, 1821. The obverse as in No.
7 ; the reverse, Struck in Jezair (Algiers), 1237.
TUJIKKY R6\TT i;.\ I! Ii.\ K V ,Vi
E.EOT1ES. .YEMSIA—SJO'AN &<C.
n .in.
/
\
DESCRIPTION OF THE PLATES.
199
10. Real, or dollar of Morocco, 1776. $1 00.
Obverse, (In rude Arabic.) The One is one, (re-
ferring to the unity of the Deity.) The date 1190, in
European instead of Arabic numerals.
Reverse. Struck in Marakash, or Morocco.
11. Half-dollar of the colony of Sierra Leone.
1791. 46 cents.
12. Piece of ten macutas, of Portuguese Africa.
1783. 55 cents.
PLATE XVI.
1. Old sicca rupee of the Mogul Empire. This
piece is very thick, but much smaller in diameter than
the dies, so that the impressions are too defective to
be understood. Value 47 cents.
2. Gold mohur, of the 19th sun, or year. $8 15.
Obverse. (In Persian.) He who is tlie shadow of
divine favour, the defender of lite religion of Mahomed,
the Emperor Shah Alum, coins money for the seven
climates, i. e., the whole world. The date 1204,
(A. D. 1789,) is in very small figures.
Reverse. Struck in Morshedabad, i?i the 1 9th year
of the happy accession to the throne. (This piece,
with the following ones, to No. 7, inclusive, were
really the coinage of the British East India Company.)
3. Gold mohur of the East India Company, bearing
the head of William IV. of England, with legends in
English. 1835. $7 11.
4. Sicca rupee of Bengal, of the E. I. Company,
without date. The inscriptions as in No. 2. 47 cents.
5. Madras rupee of the E. I. Company. 44-5 cents.
Obverse. Happy coin of Aziz eddin Mohamed Shah
Alumghir. 1172. (A. D. 1758.)
Reverse. Struck at Arcot, Hie seventh year of the
reign.
Alumghir reigned from 1754 to 1761, yet his name
was continued on the Madras coinage until a recent
date. The name of Arcot appears on the coins of the
Company's mint at Madras, being a neighbouring city.
It thus appears how little is to be learned, from the
face of these coins, of their real origin and date. This
is a coin of the nineteenth century.
6. Bombay rupee of the E. I. Company. 44-5 cts.
Obverse. Happy coin of tlie Shah Alumghir . 1215.
(A.D. 1800.)
Reverse. Struck at Sural, in the forty-sixth year of
his reign.
Surat is a neighbouring city to Bombay ; the mone-
tary connexion between them will be understood by re-
ferring to page 72. This coin was struck at Bombay.
7. New rupee of the E. I. Company, coined at Cal-
cutta. 44'5 cents. The legends in English, with one
rupee in Persian, under the same words in English.
8. Pagoda of Tippoo, sultan of Mysore. $1 80.
Obverse. Letter H, the cipher of his father, Hyder
Ali.
Reverse. (In Persian.) Malwmed, lie is tlie right
sultan. Struck at Patan, (Seringapatam,) year 1218.
(A.D. 1803.)
9. Ducat of Fatha Ali, Shah of Persia. $2 23.
10. Toman of the same. S3 04.
Obverse. Struck in Tabriz, the seat of majesty.
1240. (A.D. 1824.)
Reverse. The sultan, son of the sultan, Fatlw, Ali
Shah, Kajar.
11. Sahib-koran, of the same. 29 cents. The
inscriptions as in No. 10, except the date, 1223.
(A.D. 1808.)
The coins of the present monarch, received here,
were so faintly struck as not to be fit for engraving.
They bear on the obverse, King of kings, Maho?ned
Shah; on the reverse, as in No. 10, except those of
Teheran, which read, Struck at the seat of tlie Caliph,
Teheran.
12. Gold half-rupee of the Dutch E. I. Company.
$4 12.
Obverse. (In rude Arabic.) Coin of the Holland
Company.
Reverse. In tlie great Island of Java. 1802.
13. Quarter-florin of the same. 1826. 10 cents.
Obverse. Willem Koning dee Ned. G. H. V. L.
William, King of Netherlands, Grand Duke of
Luxemburg.
Reverse. Nederlandsch Indie. Kwaet Gulden.
Dutch Irulia. Quarter florin.
14. Silver rupee, of the same, 1796. 35 cts. ; the
inscriptions as in No. 12.
] 5. Dollar of Cochin-China. 85 cts.
Obverse. Four characters, two of which give the
name or title of the sovereign — the other two are the
words tong pao, current money. A sun in the centre.
Reverse. The Chinese dragon.*
* The foregoing translations are derived from the works
of Marsden, Bonneville, and Kelly, and from various pri-
vate sources of information.
200
DESCRIPTION OF THE PLATES.
As a sequel to this chapter, it may be proper to give some rules for distinguishing coins impressed with
Oriental characters ; to attain to which, a knowledge of the languages is not requisite.
Almost the only character inscribed on Oriental coins is the Arabic, variously modified ; in Java and Morocco,
the letters are drawn as rudely as possible ; in Turkey and Egypt, with more precision ; in Persia, they are in
the flowing laleek, which appears to bear something of the relation to the nis/chi, or strict Arabic, that our
Italic letters do to the Roman. The universality of this character on Eastern moneys is due to the extension
and domination of the Mahomedan faith.
But a person may be versed in Arabic and Persian, as he finds them in books, and yet not be able to read
these inscriptions. The reasons are the following : first, the letters are not in the form of printing, but of
writing; as, for instance, the dashing character (Fig. 1) so conspicuous on all
2 Turkish, Egyptian, and Barbary coins (except Morocco) is in type the preposi-
________^_ tion ,_i, in, or at. As this character affords a good clue to those classes of coin,
it is to be again noticed. The second reason is, that the arrangement of the words
is often irregular and fanciful. For example, if the inscription on the reverse of No. 1, plate XV., (a Turkish
silver coin,) were altered from Arabic to English script, it would appear nearly as in Fig. 2. It is meant to
read, Struck at Constantinople, year 24 of the sultan's reign, which commenced 1223 of the hegira.
Again, No. 4 of plate XVI. (a sicca rupee of Calcutta) will be found still more opposed to our ideas of order.
Fig. 3 is the reverse side.
Sultan of the txoo lands^
Sovereign of the two seas
Sultan by inheritance
Son of a sultan
That is, Struck at Morshedabad in the 19th year of the happy accession to the throne. Stars or rosettes
are frequently put in by way of ornament.
This irregularity (as we would call it) is still more embarrassing in Persian coins. But, not to multiply such
examples, one must be given in which the inscription is in good consecutive order. The reverse of No. 5,
plate XV., (a silver coin of Tripoli,) is shown as an instance. (Fig. 4.) This inscription was formerly very
common on Turkish coins. It is now confined to those of Tunis and Tripoli.
Proceeding to identify the coinage of different countries, the reader will take notice, that the character
already given, equivalent to the preposition in or at, is found on all coins of Turkey, and of states really or
nominally dependent on that empire. The toghra or monogram of the sultan, of which there is a good
specimen on the reverse of No. 4, plate XV., is generally on those coins, but the dash, universally. Its place
in the inscription is thus explained, " struck in Constantinople," Egypt, Tripoli, or otherwise, as the case may be.
This mark affords a general distinction between the moneys icest and east of the Euphrates. Supposing it
to be found on any given specimen, the possessor will desire to know to what particular state it belongs. For
this purpose, he has only to acquaint himself with the word indicating the place of coinage, which, be it
DESCRIPTION OF THE PLATES.
201
observed, is always directly under the elongated preposition — sometimes a little entangled with it. — The
following arc the characters proper to the respective Ottoman mints.
ENGLISH NAME.
CHARACTER ON THE COIN.
TYPOGRAPHIC FORM.
EQUIVALENT IN OUR
LETTERS.
Constantinople
4y?Vf
J«^VCJ\»wI
IsLAMBOUL.*
do.
^kj
vi :U:U...v
KoSTANTINIEII.
Egypt
<^o^-o
r**
MlSR.
Tripoli
^^itb
LTrM;-k
Trablous.
Tunis
•o-^y
Lr->ri
Tunis.
Algiers
j&*
>r
Jezaih.
Some allowance is to be made for variations, as the engravers use the license of penmen ; but the above
will be satisfactory guides, in all cases.
Having thus ascertained the place of coinage, an interesting point remains, to decide the date, and reign.
The date is always that of the hegira, or Mahomedan era, and (with one exception) is in Arabic figures.
These are as follows.
123 4f 5 67890
I f |" 1° O 1 V A 1 ♦
These are written from left to right, (according to the European order) but letters and words in Arabic run
in the opposite direction. The method of arriving at the date of the coin, (for most Ottoman coins bear two
dates, that of the hegira, and of the sultan's reign,) has already been stated, in the description of Plate XV.,
and in a note on page 17. The accession of the sultans for the past century has been as follows :
Mahmoud I A. H. 1143:):
Othman III 1168
Mustapha III 1171
Abdul Hamid 1187
Selim III 1203
Mustapha IV. 1222
Mahmoud II 1223
Abdul Medjid 1255
A. D. 1730.
. . 1754.
. . 1757.
. . 1774.
. . 1789.
. . 1807.
. . 1808.
. . 1839.
* The usual name for Constantinople in the East is Stamboul, an easy corruption of the original Greek name. The
Turks appear to have intended a play upon this word, and at the same time to commend the Mahomedan religion, by
stamping on their coins Islttmbrml, which means, " the fulness of the true faith." (See Marsden, 409.) This title was
last used in the reign of Selim III., which commenced 1203 (A. D. 1789.)
f The figure for 4 is sometimes in the form of our 3, reversed; especially on Ottoman coins.
\ The Mahomedan year is lunar, and therefore shorter than ours about eleven days. This makes a difference of one
year in every thirty-three.
51
202
DESCRIPTION OF THE PLATES.
The coins of Morocco are the exception to the foregoing explanations. They may be known by this unique
characteristic ; the date is that of the hegira, but the figures are European. For an example, see No. 10,
Plate XV.
If the coin does not bear the distinguishing mark already stated, and yet is in the Arabic or Persian charac-
ter, it belongs to Hindustan, Java, or Persia.
1. The general style of the characters on coins of Hindustan may be learned from an inspection of Nos.
1, 2, 4, 5, and 6, of plate XVI. These are all, except the first, issues of the British East India Company,
coined at the mints of Calcutta, Madras, and Bombay. Those of Calcutta bear the name of the neighbouring
city of Morshedabad, those of Madras are stamped as of Arcot, and those of Bombay as of Surat. The im-
print of the mint is to be found at the bottom of the reverse of the .coin. By comparing the numbers just
stated with the following characters, the reader will perceive the distinction.
ENGLISH NAME.
CHARACTER ON THE COIN.
TYPOGRAPHIC FORM.
EQUIVALENT IN OUR
LETTERS.
Morshedabad.
Arcot.
Surat.
e>l£f
Morshedabad.
Arcot.
Surat.
Some of these coins are dated, others are not ; but the dates are not to be depended upon, as has already
been shown, in the description of Plate XVI.
The gold pagodas and silver fanams of the south of India may always be known by their shape, being small
and lumpy. No. 8, Plate XVI. is a specimen.
2. The coins of the Dutch East India Company in Java, bore Arabic impressions previous to the restora-
tion in 1816. (See Malay Archipelago.) They may be known by the anomaly of bearing a Christian
date, and in European figures. See Nos. 12 and 14, Plate XVI.
3. The coins of Persia may generally be recognised by the heavy, semicircular characters, in close succes-
sion, which bear an unmeaning aspect to a European eye, and which are exemplified in Nos. 10 and 11,
Plate XVI. The date, (when not omitted,) is in exceedingly small characters.
In respect to the coins of China and Japan, nothing need be added here to what has been said under those
heads respectively; in connexion with which, an inspection of Nos. 15 and 16, Plate XVI. will be of service.
APPENDIX.
STATISTICS OF COINAGE.
1. UNITED STATES.
GOLD.
SILVER.
TOTAL.
1793 to 1800
$1,014,290
$1,440,455
$2,454,745
1801 to 1810
3,250,745
3,569,165
6,819,910
1811 to 1820
3,166,510
5,970,811
9,137,321
1821 to 1830
1,903,090
16,781,047
18,684,137
1831
714,270
3,175,600
3,889,870
1832
798,435
2,579,000
3,377,435
1833
978,550
2,759,000
3,737,550
1834
3,954,270
3,415,002
7,369,272
1835
2,186,175
3,443,003
5,629,178
1836
4,135,700
3,606,100
7,741,800
1837
1,148,305
2,096,010
3,244,315
1838
1,809,595
2,333,243
4,142,838
1839
1,355,885
2,189,296
3,545,181
1840
1,675,302
1,726,703
3,402,005
1841
1,091,598
1,132,750
2,224,348
29,182,720
56,217,185
85,399,905
The mint at Philadelphia was the only one in operation until 1838. From that year to 1841, both inclusive,
the amount of coinage at the mint and its branches was as follows :
GOLD.
SILVER.
TOTAL.
Mint at Philadelphia
Branch mint at New Orleans
Branch mint at Charlotte, N. C.
Branch mint at Dahlonega, Geo.
$4,581,175
326,190
507,025
517,990
$5,848,489
1,533,503
$10,429,664
1,859,693
507,025
517,990
Total, 1838-41
5,932,380
7,381,992
13,314,372
204 STATISTICS OF COINAGE.
The whole amount of coinage in pieces, from 1793 to 1841, at the mint and branches, has been as follows :
GOLD.
PIECES.
VALUE.
Eagles ....
291,009
$2,910,090
Half eagles ....
4 700,257
23,501,285
Quarter eagles
1,108,538
2,771,345
SILVER.
-
Dollars ....
1,674,822
1,674,822
Half dollars
97,895,662
48,947,831
Quarter dollars
8,200,502
2,050,125 50
Dimes ....
23,765,325
2,376,532 50
Half dimes ....
23,357,478
1,167,873 90
160,993,593
85,399,904 90
The amount of copper coinage in the same period, was 89,439,030 cents, and 7,440,713 half cents, alto-
gether of the value of $931,503 86 ; which was all coined at Philadelphia.
No eagles were coined from 1805 to 1837 inclusive. No half eagles in 1816 and 1817. No quarter eagles
before 1796, nor in 1800-01, nor from 1809 to 1823, except in 1821, nor in 1828 and 1841. No dollars
from 1806 to 1838, except 1000 in 1836. No half dollars from 1797 to 1800, nor in 1815. No quarter
dollars before 1796, none from 1798 to 1803, none from 1808 to 1814, and none in 1817, 1824, 1826,
1829 and 1830. No dimes before 1796, none in 1799, 1806, 1808, 1812, 1813, 1815 to 1819, 1824, and
1826. No half dimes in 1798, 1799, 1804, and 1806 to 1828. No cents (except a few specimen pieces,) in
1815 and 1823. No half cents in 1798, 1801, 1812 to 1824, 1827, 1830 and 1832, and none since 1836.
2. MEXICO.
GOLD.
SILVER.
TOTAL.
Ten years, 1801-10
$11,020,000
$216,220,000
$227,240,000
do. 1811-20
6,030,000
106,130,000
112,160,000
do. 1821-30
3,680,000
96,080,000
99,760,000
1831
No returns.
11,720,000
1832-33
No returns.
No returns.
1834
210,000
11,830,000
12,040,000
1835
350,000
11,650,000
12,000,000
1836
570,000
11,480,000
12,050,000
1837
380,000
11,230,000
11,610,000
STATISTICS OF COINAGE.
205
For a long term of years, previous to the Revolution, the annual coinage averaged nearly 23 millions of
dollars. From the era just named, which had its commencement in 1810, the sum has been greatly reduced.
Indeed, although the independence of the nation has long been fully established, yet the ever disturbed state of
political affairs produces an effect upon the mints and mines, quite as depressive as was the war of the revolu-
tion. The annual coinage of late years is about 12 millions of dollars.
There arc at present, seven mints in operation. As there is a characteristic difference in the value of their
coins, it will be interesting to know in what proportion they severally contribute to the annual sum of Mexican
coinage. The returns of 1836 and 1837 are here given.
1836.
1837.
MINTS.
GOLD.
SILVER.
TOTAL.
COLD.
SILVER.
TOTAL.
Mexico
$20,000
§734,000
$754,000
$10,000
$516,000
$526,000
Zacatecas
None
5,460,000
5,460,000
None
5,238,000
5,238,000
Guanajuato
171,000
2 341,000
2,512,000
151,000
2,857,000
3,008,000
Potosi
None
1,099,000
1,099,000
None
1,111,000
1,111,000
Durango
359,000
1,063,000 '
1,422,000
207,000
721,000
928,000
Guadalajara
23,000
561,000
584,000
13,000
567,000
580,000
Chihuahua
None
224,000
224,000
None
225,000
225,000
It appears then that they rank in the following order: 1. Zacatecas, 2. Guanajuato, 3. Durango, 4. Potosi,
5. Mexico, 6. Guadalajara, 7. Chihuahua.*
3. PERU.t
GOLD.
SILVER.
TOTAL.
Ten years, 1801-10
$3,216,400
$42,500,000
$45,716,400
do. 1811-20
5,593,700
54,655,000
60,248,700
do. 1821-30
1,294,700
15,435,700
16,730,400
Four years, 1831-34
401,700
11,400
413,100
1835-36
No returns.
No returns.
1837
120,000
2,564,000
2,684,000
* The order stated in page 79 is slightly in error. The above is taken from the British "Tables of Revenue," &c.
f Compiled from the " Tables of Revenue," &c, and a recent letter from Mr. Pickett, U. S. Charge d'Afiaires
at Lima.
52
206
STATISTICS OF COINAGE.
PERU (.Continued).
1S38
1839
1840
1841
No returns
None
None
None
No returns
2,406,200
3,104,000
2,788,800
2,406,200
3,104,000
2,788,800
The foregoing returns for 1839 to 1841 do not include the coinage at the mints of Cuzco and Arequipa.
At the former, the annual amount is supposed to be about one million of dollars — one third of which is gold ;
at the latter, the amount in 1838 was near one million, but does not now reach $100,000 annually.
The largest annual coinage in Peru, in the past century, was, of gold, in 1758, $1,170,000 ; of silver, in
1794, $5,304,000.
4. CHILI*
GOLD.
SILVER.
TOTAL.
Ten years, 1811-20
$6,171,800
$3,527,000
$9,698,800
Do. 1821-30
1,694,000
350,295
2,044,295
1831
None.
47,850
47,850
1832
192,440
37,950
230,390
1833
418,336
84,150
502,486
1834
522,240
44,550
566,790
1835
None.
3,300
3,300
1836
472,464
No return.
472,464
The largest amount of gold coined, for many years, was in 1810, $865,000 ; of silver, in 1817, $535,000.
5. BOLIVIA.
Ten years, 1801-10
Do. 1811-20
Do. 1821-30
GOLD.
$5,096,000
125,936
703,120
$30,772,500
20,542,500
15,006,750
$35,868,500
20,668,436
15,709,870
* The statements for Chili and Bolivia are compiled from the British " Tables of Revenue," &c.
STATISTICS OF COINAGE.
207
BOLIVIA (.Continued).
GOLD.
SILVER.
TOTAL.
1831
122,944
1,815
124,759
1832
148,512
1,815
150,327
1833
99,824
1,897
101,721
1834
80,240
1,898
82,138
1835
184,144
1,897
186,041
1836
88,000
1,947,000
2,035,000
1837
198,000
2,070,000
2,268,000
The largest gold coinage for many years past, was in 1305, $785,000 ; of silver, in 1796, $4,274,000.
6. GREAT BRITAIN.
The gold coinage, for some years previous to the monetary law of 1816, was nearly in a state of suspen-
sion ; in the three years of 1809, 1810, and 1811, the amount was about £300,000, annually, and in 1813,
£520,000. In the three years following, there was no gold coined. There was no silver coinage, except
Bank tokens, from 1788 to 1815. The following tables commence with the year 1816, and extend to 1840
inclusive.
GOLD.
SILVER.
TOTAL.
Five years, 1816-20
£8,090,800
£6,932,800
£15,023,600
Do. 1821-25
24,283,300
1,450,000
25,733,300
Do. 1826-30
14,252,300
766,300
15,018,600
Do. 1831-35
6,737,500
613,400
7,350,900
1836
1,787,800
497,700
2,285,500
1837
1,253,100
75,250
1,328,350
1838
2,855,400
173,850
3,029,250
1839
504,300
390,450
894,750
1840
None.
207,700
207,700
59,764,500
11,107,450
70,871,950
The copper coinage from 1816 to 1836 was £180,107.
The largest annual amount of gold coinage was in 1821, when it reached the prodigious sum of £9,520,758,
equal to $46,270,000. In 1819, there was only the sum of £3574. No gold was coined in 1816 and 1840.
208
STATISTICS OF COINAGE.
The largest amount in silver was in 1817, £2,436,298, equal to $10,622,000. In the three years of 1830,
1832, and 1833, the annual sum was only about £150. The variation in the yearly amount of labour is
probably as great as at any mint in the world.
The following table shows the total amount of coinage in pieces, from 1816 to 1840.*
GOLD.
PIECES.
VALUE.
Double sovereigns .
16,119
£32,238
Sovereigns ....
55,468,389
55,468,389
Half sovereigns
8,527,681
4,263,840
SILVER.
Crowns ....
1,849,905
462,476
Half crowns ....
31,438,434
3,929,804
Shillings ....
101,645,280
5,082,264
Sixpences ....
58,324,595
1,458,115
Fourpences ....
10,371,058
172,850
Three, two, and one penny
2,190
7. FRANCE.
The coinage of gold from 1726 to 1780, was
" 1781-85, estimated!
" 1786-94 .
The coinage of silver from 1726 to 1791, was 1,966,402,000 livres4
There was coined in 30 and 15 sous pieces, (1791) 25,000,000 francs.
The decimal coinage previous to 1803 is not ascertained.
957,200,000 livres.
85,000,000 "
738,257,000 "
1,780,457,000
GOLD.
SILVER.
TOTAL.
Type of Napoleon, 1803-14
do. Louis XVIII. 1814-24
do. Charles X. 1824-30
do. Louis Philippe 1. 1830-40
fr. 528,024,440
389,333,060
52,918,920
177,367,740
fr. 887,830,055
614,830,110
632,511,321
1,229,440,566
fr. 1,415,854,495
1,004,163,170
685,430,241
1,406,808,306
1,147,644,160
3,364,612,052
4,512,256,212
* Statements from the British mint, part of which were procured by Mr. Stevenson, U. S. minister plenipotentiary,
t Neckar, Finances of France, 1785. t Moniteur, April, 1829.
STATISTICS OF COINAGE.
209
AMOUNT OF COINAGE IN riECES, FROM 1803 tO 1840.*
GOLD. VALUE.
Forty francs fr. 204,431,440
Twenty francs 943,212,720
SILVER.
Five francs 3,231,045,450
Two francs 57,057,608
One franc 50,359,424
Half franc 22,534,088
Quarter franc 3,615,482
4,512,256,212
AMOUNT OF COINAOE AT THE RESPECTIVE MINTS, 1803 TO 1840.
MINTS.
GOLD.
SIXVER.
TOTAL.
Paris
fr. 1,022,920,060
fr. 1,287,795,645
fr. 2,310,715,705
Bayonne
5,047,500
93,613,345
98,660,845
Bordeaux
3,001,540
120,554,841
123,556,381
La Rochelle
597,240
78,911,522
79,508,762
Lille
92,018,120
648,414,360
740,432,480
Limoges
554,260
107,172,166
107,726,426
Lyons
152,765,875
152,765,875
Marseilles
81,060
98,821,853
98,902,913
Nantes
711,040
63,645,791
64,356,831
Perpignan
7,413,500
81,630,569
89,044,069
Rouen
7,940,660
404,528,280
412,468,940
Strasbourg
87,993,097
87,993,097
Toulouse
1,345,440
133,255,485
134,600,925
Genes
228,140
87,099
315,239
Geneva
167,993
167,993
Rome
384,500
341,125
725,625
Turin
3,597,440
2,639,557
6,236,997
Utrecht
1,803,660
2,273,449
4,077,109
1,147,644,160
3,364,612,052
4,512,256,212
* These statements are from the mint of Paris, procured by Gen. Cass, U. S. minister plenipotentiary.
53
210
STATISTICS OF COINAGE.
Of the foregoing mints, only those of Paris, Bordeaux, Lille, Lyons, Marseilles, Rouen and Strasbourg are
now in operation. Those of Geneva, Rome, Turin and Utrecht were under the empire of Napoleon ; they
have long since passed out of French jurisdiction.
8. AUSTRIA.
GOLD.
SILVER.
TOTAL.
Ten years, 1793-1802
fl. 17,839,288
&. 245,823,760
fl. 263,663,048
do. 1803-12
10,659,916
104,066,665
114,726,581
do. 1813-22
24,680,983
44,730,490
69,411,473
do. 1823-32
48,710,569
62,246,736
110,957,305
1833
7,681,761
4,801,214
12,482,975
1834
16,708,101
3,319,913
20,028,014
1835
6,760,328
3,068,102
9,828,430
1836
5,967,885
3,264,164
9,232,049
1837
7,213,263
3,909,313
11,122,576
1838
4,181,536
3,088,554
7,270,090
1839
4,382,364
2,785,702
7,168,066
154,785,994
481,104,613
635,890,607
AMOUNT OF COINAGE IN PIECES, FROM 1823 TO 1837, BOTH INCLUSIVE.
VALUE.
GOLD— Sovereigns and halves fl. 36,974,673
Ducats, doubles and quadruples 56,067,234
SILVER— Rixdollars 27,189,714
Half dollars, or florins . . . . . . . . None.
20 kreutzer pieces . . . 50,581,999
10 kreutzer 974,650
5 kreutzer 746,678
3 kreutzer 1,109,931
The copper coinage, from 1793 to 1818, amounted to 180,918,286 florins. None has been coined since
1818.
9. PRUSSIA.
COINAGE OF TWENTY YEAHS, 1821 TO 1840, BOTH INCLUDED.*
VALUE .
Double, single, and half Frederickd'ors, in gold, . . thai. 12,034,406
Silver thaler pieces 28,303,346
Two thaler, or 3i florin pieces 1,950,090
One-sixth thaler pieces 4,854,105
Billon pieces ' 3,147,152
The amount of copper coined was 752,273 thalers.
* From the mint at Berlin ; procured by Mr. Wheaton, U. S. minister plenipotentiary.
STATISTICS OF COINAGE.
211
10. SPAIN.
COINAGE OF TWENTY YEARS AT THE MINT OF MADRID, 1822 TO 1841, BOTH INCLUDED.*
GOLD. VALUE IN RS. VELLON. VALUE IN DOLLARS.
Pistoles, or i doubloons . . . 69,338,560 3,466,928
SILVER.
Dollars, of 20 rs. vellon . . . 11,603,660
I lulf dollars 1,190,360
Pistareens, of 4 rs 26,978,516
Half pistareens ..... 735,706
Reals 149,448
The annual coinage is of very irregular amount; in 1835 it was about $1,136,000, and in 1841 only
§134,000.
The coinage of the mint at Seville is not ascertained.
580,183
59,518
1,348,926
36,785
7,472
A SUMMARY STATEMENT OF THE AVERAGE ANNUAL AMOUNT OF COINAGE OF GOLD AND SILVER,
OF LATE YEARS, IN VARIOUS COUNTRIES ; AND THE AMOUNT IN PROPORTION TO THEIR POPULA-
TION.
COUNTRIES.
ANNUAL
COINAGE.
PRESENT
POPULATION.
U. S. CENTS,
IN THEIR OWN TER3IS.
IN V. S. DOLLARS.
PER HEAD.
United States
4,300,000
17,000,000
25-3
Mexico
12,000,000
7,700,000
155'8
Colombia
2,000,000
3,200,000
62-5
Peru
3,000,000
1,700,000
176-5
Chili
400,000
1,500,000
26-7
Bolivia
1,500,000
1,500,000
100
Brazil
mlr. 68,000
60,000
5,000,000
1-2
G. Britain and Ireland
£1,500,000
7,300,000
25,000,000
29-2
British India
rs. 30,000,000
13,300,000
113,000,000
11-8
France
fr. 135,000,000
25,600,000
33,500,000
76-4
Swedenf
rxd. 650,000
690,000
3,000,000
23
Denmark:):
rgd. 240,000
128,000
2,000,000
6-4
Saxony
th. 470,000
340,000
1,700,000
20
Prussia
th. 2,500,000
1,800,000
13,000,000
13-8
Austria
fl. 12,000,000
6,000,000
34,000,000
17-6
Spain§
rls. 8,000,000
400,000
12,000,000
3-3
* From the mint at Madrid ; procured by Mr.
t The coinage at Altona not included.
Vail, U. S. charge d'affaires. f Exclusive of Norway.
6 The coinage at Seville assumed as half that of Madrid.
212 STATISTICS OF COINAGE.
PROPORTION OF COINAGE IN LARGE AND SMALL PIECES.
All the gold coins, and the large silver coins, may be considered as international currency, being liable to
be carried beyond the limits of its country ; while small silver coin remains at home, to supply the daily
traffic. It is interesting to inquire in what proportion these two grand divisions of money, large and small, are
coined in various nations, of late years. The following will be found near the truth.
CONSIDERED AS PROPORTION IN VALUE, OP
SMALL COIN. SMALL COIN TO LARGE.
United States . . . Under a half dollar . . . 1 to 10-6
Great Britain . . . All the silver* 1 to 12-6
France .... Under five francs . . . . 1 to 10-4
Prussia .... Under a thaler . . . . 1 to 5-3
Austria .... Under a rixdollar . . . . . 1 to 3-3
PRODUCTION OF GOLD AND SILVER.
It was intended to offer in the appendix as complete a body of statistics as could be procured, of the amount
of precious metals annually raised in the world ; and to this end, much information was collected. But after
due reflection, it is believed that no satisfactory statement could be given. In some countries a registry is kept
of the production, of which a summary notice has been taken under the appropriate heads, in the second
chapter. But from the chief mining regions it is impossible to obtain any thing better than vague and con-
tradictory conjectures. Thus in Mexico and Peru, the registers exhibit a certain amount actually raised; but
to this is to be added large quantities of bullion exported in a contraband way, of which no near estimate can
be made. A high functionary of the Mexican government has rated the annual produce of gold and silver in
his country at seventy millions of dollars; while Mr. Ward, from calculations made in 1829 from the best
data, was satisfied that it did not exceed eleven millions, since the revolution. At present, the truth probably
lies between fourteen and twenty millions ; and it is supposed that the production is equal to that of all other
countries together.
In respect to the gold region of the United States, it was for a long time uncertain whether the amount sent
to the mints %vas nearly the whole, or only a considerable share of the amount mined. The census of 1840
seems to clear up this question.
It appears that in 1839
The number of persons employed in gold mining was . . . 1046
The amount of capital invested, 8234,300
The amount of gold raised ....... $529,500
of which Virginia produced $52,000, North Carolina $256,000, South Carolina $37,000, Georgia $122,000,
Alabama $61,000, Tennessee $1,500.
In the same year, the amount deposited for coinage was $385,000. Whence it may be inferred, that about
seven tenths of the annual production is converted into coin of the United States. The mining operations were
not carried on with much activity until 1830. Since that date, the average annual coinage from that source
has been $555,000. Upon the foregoing basis, the average production has been $800,000 yearly ; but per-
haps a safer estimate would be $700,000.
* The half crown is a large coin, but being legally overvalued (with the other silver coins) to keep it in the country,
is properly placed in the table.
TABLE A.
COMPARISON OF VARIOUS MODES OF EXPRESSING TIIE FINENESS OF GOLD AND SILVER.
THOUS.
CAR. 32d.
BRITISH.
OZ. BUT.
SPANISM.
DIN. GRA.
GERMAN.
LOTH. GR.
THOUS.
CAR. 32d.
BRITISH.
OZ. DWT.
SPANISH.
DIN. GRA.
GERMAN.
LOTH. GR.
650
15 19
7 10
7 19
10
8
833
20 0
10
0
10
0
13 6
600
15 27
7 18g
7 22
10
10
834
20 0
670
16 3
8 1
8 1
10
13
835
20 1
10
01
10
01
680
16 10
8 3
8 4
10
16
836
20 2
13 7
690
16 18
8 5.1
8 6i
11
1
837
20 3
10
1
10
1
700
16 25
8 8
8, 9|
11
4
838
20 3
710
17 1
8 10l
8 121
11
7
839
20 4
10
11
10
11
13 8
720
17 9
8 13
8 15>
11
10
840
20 5
10
2
730
17 17
8 15
8 18
11
12
841
20 6
10
2
740
17 24
8 17i
8 21
11
15
842
20 7
10
2|
750
18 0
9 0
9 0
12
0
843
20 7
10
21
13 9
760
18 8
9 21
9 3
12
3
844
20 8
10
3
770
18 15
9 5
9 5
12
6
845
20 9
10
3
10
31
780
18 23
9 7
9 8i
12
9
846
20 10
13 10
790
18 31
9 9£
9 111
12
11
847
20 10
10
4
800
19 7
9 12
9 141
12
14
848
20 11
10
»1
801
19 7
849
20 12
10
41-
^2
802
19 8
9 12£
9 15
850
20 13
10
4
13 11
803
19 9
12
15
851
20 13
10
5
804
19 9
9 13
9 15J
852
20 14
10
4!
10
52-
805
19 10
853
20 15
13 12
806
19 11
9 131
9 16
12
16
854
20 16
10
5
10
6
807
19 12
9 16 1
855
20 17
808
19 12
9 14
856
20 17
10
H
10
61
13 13
809
19 13
9 17
12
17
857
20 18
810
19 14
9 141
858
20 19
10
6
10
7
811
19 15
9 m
859
20 20
10
' 2
812
19 15
860
20 20
10
61
13 14
813
19 16
9 15
9 18
13
0
861
20 21
10
8
814
19 17
9 18|
862
20 22
'815
19 18
9 151
863
20 23
10
7
10
81
13 15
816
19 19
9 19
13
1
864
20 23
817
19 19
9 16
865
20 24
10
71
'2
10
9
818
19 20
9 19J-
866
20 25
10
91
819
19 21
9 161
9 20
13
2
867
20 26
10
8
13 16
820
19 22
868
20 27
10
10
821
19 22
9 17
9 201
869
20 27
10
si
822
19 23
870
20 28
10
101
823
19 24
9 17>-
9 21
13
3
871
20 29
10
9
13 17
824
19 25
872
20 30
10
11
825
19 25
9 18
9 21 1
873
20 30
10
91
10
11-1
826
19 26
9 22
13
4
874
20 31
827
19 27
9 18 J
875
21 0
10
10
10
12
14 0
828
19 28
q ooi
876
21 1
829
19 29
9 19
13
5
877
21 1
10
101
10
12i
830
19 29
9 23
878
21 2
10
13
14 1
831
19 30
9 191
879
21 3
10
11
832
19 31
9 23i
880
21 4
10
13J
54
214
TABLE A.
THOUS.
CAR. 32d.
BRITISH.
OZ. DWT.
SPANISH.
DIN. GRA.
GERMAN.
LOTH. GR.'
THOUS.
CAR. 32d.
BRITISH.
OZ. DWT.
SPANISH.
DIN. GRA.
GERMAN.
LOTH. GR.
881
21 4
10 11|
14
2
932
22 12
11
4!
882
21 5
10 14
933
22 12
11
4
883
21 6
10 12
934
22 13
11
5
14 17
884
21 7
10 14J
935
22 14
11
41
885
21 8
10 12A
10 15
14
3
936
22 15
11
5!
886
21 8
937
22 16
11
5
887
21 9
10 15|
938
22 16
11
6
15 0
888
21 10
10 13
14
4
939
22 17
11
5*
11
6!
889
21 11
10 16
940
22 18
890
21 11
10 13!
941
22 19
11
6
11
7
15 1
891
21 12
10 16!
942
22 19
892
21 13
10 14
10 17
14
5
943
22 20
11
6!
11
7-1
' 2
893
21 14
944
22 21
11
8
15 2
894
21 14
10 14|
10 17!
945
22 22
11
7
895
21 15
946
22 22
11
8!
896
21 16
10 15
10 18
14
6
947
22 23
897
21 17
948
22 24
11
7!
11
9
15 3
898
21 18
10 15|
10 18!
949
22 25
899
21 18
10 19
950
22 25
11
8
7
9!
900
21 19
10 16
14
7
951
22 26
11
10
15 4
901
21 20
10 19!
952
22 27
11
8!
902
21 21
10 16J-
953
22 28
11
101
903
21 21
10 20
14
8
954
22 29
11
9
904
21 22
10 17
955
22 29
11
11
15 5
905
21 23
10 20!
956
22 30
11
9i
906
21 24
io m
10 21
957
22 31
11
HI
907
21 24
14
9
958
23 0
11
10
11
12
15 6
908
21 25
10 18
10 21!
959
23 1
909
21 26
960
23 1
11
10 \
11
121
910
, 21 27
10 18J
10 22
14
10
961
23 2
15 7
911
21 28
10 22!
962
23 3
11
13
912
21 28
963
23 3
11
11
913
21 29
10 19
10 23
964
23 4
11
13!
914
21 30
14
11
965
23 5
11
ni
11
14
15 8
915
21 31
10 19*-
10 23!
966
23 6
916
21 31
967
23 7
11
12
11
141
*
917
22 0
11 0
11 0
14
12
968
23 7
15 9
918
22 1
11 0!
969
23 8
11
121
11
15
919
22 2
11 01
970
23 9
11
151
920
22 2
11 1
14
13
971
23 10
11
13
921
22 3
11 1
972
23 10
11
16
15 10
922
22 4
11 1!
973
23 11
11
131
923
22 5
ii il
14
14
974
23 12
11
16!
924
22 6
11 2
975
23 13
11
14
15 11
925
22 6
11 2
11 2!
976
23 13
11
17
926
22 7
977
23 14
11
14J
11
171
927
- 22 8
11 21
11 3
14
15
978
23 15
15 12
928
22 9
979
23 16
11
15
11
18
929
22 9
11 3
11 3!
980
23 17
930
22 10
981
23 17
11
151
11
181
931
22 11
11 3i
11 4
14
16
982
23 18
15 13
TABLE B.
21 1
THOUS.
CAR.
32d.
BRITISH.
OZ. DWT.
SPANISH.
DIN. GRA.
GERMAN.
LOTH. GR.
THOUS.
CAR.
32d.
BRITISH.
OZ. DWT.
SPANISH.
DIN. GRA.
GERMAN.
LOTH. GR.
983
23
19
11
16
11 19
992
23
26
11
18
984
23
20
11 194
993
23
27
11
22
15 16
985
23
20
11
10.',
994
23
27
11
18*
!P-li
23
21
11 20
15 14
995
23
28
11
224
987
23
22
996
23
29
11
19
15 17
!l-s
23
23
11
17
11 20 i
997
23
30
11
23
989
23
23
15 15
998
23
30
11
19*
11
23 i
990
23
24
11
17',
11 21
999
23
31
991
23
25
11 21 J
1000
24
0
12
0
12
0
16 0
TABLE B.
VALUE IN U. S. MONEY, OF SILVER AND GOLD, OF STANDARD FINENESS (900 thods.), FROM
1 TO 100 OUNCES TROY.
ozs.
SILVER.
GOLD.
OZS.
SILVER.
GOLD.
DOLLS. CTS.
DOLLS. CTS.
DOLLS. CTS.
DOLLS. CTS.
1
1 16363
18 60-465
31
36 07-272
576 74-419
2
2 32-727
37 20-930
32
37 23-636
595 34-884
3
3 49-090
55 81-395
33
38 40-000
613 95-349
4
4 65-454
74 41-860
34
39 56-363
632 55-814
5
5 81-818
93 02-325
35
40 72-727
651 16-279
6
6 98-181
111 62-791
36
41 89-090
669 76-744
7
8 14-545
130 23-255
37
43 05-454
688 37-209
8
9 30-909
148 83-721
38
44 21-818
706 97-674
9
10 47-272
167 44-186
39
45 38-181
725 58-139
10
11 63-636
186 04-651
40
46 54-545
744 18-604
11
12 80-000
204 65-116
41
47 70-909
762 79-069
12
13 96-363
223 25-581
42
48 87-272
781 39-535
13
15 12-727
241 86-046
43
50 03-636
800 00.000
14
16 29-090
260 46-511
44
51 20-000
818 60-465
15
17 45-454
279 06-977
45
52 36-363
837 20-930
16
18 61-818
297 67-442
46
53 52-727
855 81-395
17
19 78-181
316 27-907
47
54 69-090
874 41-860
18
20 94-545
334 88-372
48
55 85-454
893 02-325
19
22 10-909
353 48-837
49
57 01-818
911 62-791
20
23 27272
372 09-302
50
58 18-181
930 23-255
21
24 43-636
390 69-767
51
59 34-545
948 83-721
22
25 60-000
409 30-232
52
60 50-909
967 44-186
23
26 76-363
427 90-698
53
61 67-272
986 04-651
24
27 92-727
446 51-163
54
62 83-636
1004 65-116
25
29 09-090
465 11-628
55
64 00-000
1023 25-581
26
30 25-454
483 72-093
56
65 16-363
1041 86-046
27
31 41-818
502 32-558
57
66 32-727
1060 46-511
28
32 58-181
520 93-023
58
67 49-090
1079 06-977
29
33 74-545
539 53-488
59
68 65-454
1097 67-442
30
34 90-909
558 13-953
60
69 81-818
1116 27-907
216
TABLE C.
ozs.
SILVER.
GOLD.
OZS.
SILVER.
GOLD.
DOLLS. CTS.
DOLLS. CTS.
DOLLS. CTS.
DOLLS. CTS.
61
70 98-181
1131 88-372
81
94 25-454
1506 97-674
62
72 14545
1153 48-837
82
95 41-818
1525 58-139
63
73 30-909
1172 09-302
83
96 58-181
1544 18-604
64
74 47-272
1190 69-767
84
97 74-545
1562 79069
65
75 63-636
1209 30-232
85
98 90-909
1581 39-535
66
76 80-000
1227 90-698
86
100 07-272
1600 00000
67
77 96-363
1246 51-163
87
101 23-636
1618 60-465
68
79 12-727
1265 11-628
83
102 40-000
1637 20-930
69
80 29090
1283 72-093
89
103> 56-363
1655 81-395
70
81 45-454
1302 32-558
90
104 72.727
1674 41-860
71
82 61-818
1320 93023
91
105 89-090
1693 02-325
72
83 78-181
1339 53-488
92
107 05-454
1711 62-791
73
84 94-545
1358 13-953
93
108 21-818
1730 23-256
74
86 10-909
1376 74-418
94
109 38-181
1748 83-721
75
87 27-272
1395 34-884
95
110 54-545
1767 44-186
76
88 43-636
1413 95-349
96
111 70-909
1786 04-651
77
89 60-000
1432 55-814
97
112 87-272
1804 65-116
78
90 76-363
1451 16-279
98
114 03-636
1823 25-581
79
91 92-727
1469 76-744
99
115 20-000
1841 86-047
80
93 09-090
1488 37-209
100
116 38-363
1860 46-512
N. B. This table may be used for much larger sums, by removing the decimal point, and by additions when
required ; thus, 100,000 ozs. of silver = §116,363-63 ; and an odd number, say 943 ozs., is to be sought in
this manner : 940 ozs. = $1093-82
3 " 3-49
943
= 1097-31
TABLE C.
VALUE IN U. S. MONEY, OF ONE OUNCE TROY, OP SILVER OR GOLD, AT DIFFERENT
DEGREES OF FINENESS.
FINENESS.
SILVER.
GOLD.
FINENESS.
SILVER.
GOLD.
THOUS.
DOLLS. CTS.
DOLLS. CTS.
THOUS.
DOLLS. CTS.
DOLLS. CTS.
500
64-65
10 33-6
550
71-11
11 36-9
505
65-29
10 43-9
555
71-76
11 47-3
510
65-94
10 54-3
560
72-40
11 57-6
515
66-59
10 64-6
565
73-05
11 67-9
520
67-23
10 74-9
570
73-70
11 78-3
525
67-88
10 85-3
575
74-34
11 88-6
530
68-53
10 95-6
580
74-99
11 99-0
535
69-17
11 05-9
585
75-64
12 09-3
540
69.82
11 16-3
590
76-28
12 19-6
545
70-46
11 26-6
595
76-93
12 30-0
TABLE C.
217
FINENESS.
SILVER.
GOLD.
FINENESS.
SILVER.
GOLD.
THOUS.
DOLLS. CTS.
DOLLS. CT3.
THOUS.
DOLLS. CTS.
DOLLS. CTS.
600
77'5-J
12 40-3
805
1 04-08
16 64-1
605
78-22
12 50-6
810
1 04-73
16 74-4
610
78-87
12 01-0
815
1 05-37
16 84-8
615
7951
12 71-3
820
1 06-02
16 95-1
620
80-16
12 81-7
825
1 06-67
17 05-4
625
-H--1
12 92-0
830
1 0731
17 15-8
630
81-45
13 02-3
835
1 07-96
17 26-1
635
82-10
13 12-7
840
1 08-61
17 364
640
82-75
13 230
845
1 09-25
17 46-8
645
83-39
13 33-3
850
1 09-90
17 57-1
650
84-04
13 43-7
855
1 10-54
17 67-4
655
84-69
13 54-0
860
1 11-19
17 77-8
660
85-33
13 64-3
865
1 11-84
17 88-1
665
85-98
13 74-7
870
1 12-48
17 98-4
670
86-63
13 85-0
875
1 1313
18 08-8
675
87-27
13 95-3
880
1 13-78
18 19-1
6S0
87-92
14 05-7
885
1 14-42
18 29-4
685
88-57
14 16-0
890
1 15 07
18 39-8
690
89-21
14 26-3
895
1 15-72
18 50-1
695
89-86
14 36-7
900
1 16-36
18 60-5
700
90-50
14 47-0
905
1 17-01
18 70-8
705
91-15
14 57-4
910
1 17-66
18 81-1
710
91-80
14 67-7
915
1 18-30
18 91-5
715
92'44
14 78-0
920
1 18-95
19 01-8
720
93-09
14 88-4
925
1 19-59
19 12-1
725
93-74
14 98-7
930
1 20-24
19 22-5
730
94-38
15 09-4
935
1 20-89
19 32-8
735
95-03
15 19-4
940
1 21-54
19 43-1
740
95-63
15 29-7
945
1 22-18
19 53-5
745
96-32
15 40-0
950
1 22-83
19 63-8
750
96-97
15 50-4
955
1 93-47
19 741 ■
755
97-62
15 60-7
960
1 24-12
19 84-5
760
98-26
15 71-1
965
1 24-77
19 94-8
765
98-91
15 81-4
970
1 25-41
20 05-2
770
9956
15 91-7
975
1 2606
20 15-5
775
1 00-20
16 02-1
980
1 26-71
20 25-8
780
1 00-86
16 12-4
985
1 27-35
20 36-2
785
1 01-46
16 22-7
990
1 28-00
20 46-5
790
1 02-14
16 33-1
995
1 28-64
20 56-8
795
1 02-79
16 43-4
1000
1 29-29
20 67-2
800
1 03-43
16 53-8
N. B. When there is an intermediate degree of fineness, a short calculation is necessary. — For every one-
thousandth, add -13 of a cent, per ounce of silver, or 2-07 cents per ounce of gold. Thus an oz. of silver
at 992 = $1,28-26. Do. of gold at 992 = $20,50-6.
55
TABLE D.
EQUIVALENT OF U. S. CENTS, IN BRITISH AND FRENCH MONEYS.
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
FRENCH.
CENTS.
S.
D.
F. C.
CENTS.
S.
D.
F. C.
CENTS.
S.
D.
F. C.
CENTS.
S.
D.
F. C.
1
0-5
05
49
2
o-i
2 62
97
3
11-8
5 18
145
5
11-5
7 75
2
1
11
50
2
0-7
2 67
98
4
0-3
5 24
146
6
0
7 80
3
1-5
16
51
2
1-2
2 73
99
4
0-8
5 29
147
6
0-5
7 85
4
2
21
52
2
1-7
2 78
100
4
1-3
5 34
148
6
1
7 91
5
2-5
27
53
2
2-1
2 83
101
4
1-8
5 40
149
6
1-5
7 96
6
2-9
32
54
2
2-6
2 89
102
4
2-3
5 45
150
6
2
8 02
7
3-4
37
55
2
3-1
2 94
103
4
2-8
5 50
151
6
2-5
8 07
8
3-9
43
56
2
3-6
2 99
104
4
3-3
5 56
152
6
2-9
8 12
9
4-4
48
57
2
4-1
3 05
105
4
3-8
5 61
153
6
3-4
8 18
10
4-9
53
58
2
4-6
3 10
106
4
4-3
5 66
154
6
3-9
8 23
11
5-4
59
59
2
5-1
3 15
107
4
4-8
5 72
155
6
4-4
8 28
12
5-9
64
60
2
5-6
3 21
108
4
5-3
5 77
156
6
4-9
8 34
13
6-4
69
61
2
6-1
3 26
109
4
5-7
5 82
157
6
5-4
8 39
14
6-9
75
62
2
6-6
3 31
110
4
6-2
5 88
158
6
5-9
8 44
15
7-4
80
63
2
7
3 37
111
4
6-7
5 93
159
6
6-4
8 50
16
7-9
85
64
2
7-5
3 42
112
4
7-2
5 99
160
6
6-9
8 55
17
8-4
91
65
2
8
3 47
113
4
7-7
6 05
161
6
7-4
8 61
18
8-9
96
66
2
8-5
3 53
114
4
8-2
6 10
162
6
7-9
8 66
19
9-4
1 02
67
2
9
3 58
115
4
8-7
6 15
163
6
8-4
8 71
20
9-9
1 07
68
2
9-5
3 63
116
4
9-2
6 20
164
6
8-9
8 76
21
10-3
1 12
69
2
10
3 69
117
4
9-7
6 25
165
6
9-4
8 82
22
10'8
1 18
70
2
10-5
3 74
118
4
10-2
6 31
166
6
9-9
8 87
23
11-3
1 23
71
2
11
3 79
119
4
10-6
6 36
167
6
10-3
8 92
24
11-8
1 28
72
2
11-5
3 85
120
4
11-1
6 41
168
6
10-8
8 98
25
1
0-3
1 34
73
3
0
3 90
121
4
11-6
6 47
169
6
11-3
9 03
2G
1
0-8
1 39
74
3
0-5
3 96
122
5
0-1
6 52
170
6
11-8
9 08
27
1
1-3
1 44
75
3
1
4 01
123
5
0-7
6 57
171
7
0-3
9 14
28
1
1-8
1 50
76
3
1-5
4 06
124
5
1-2
6 63
172
7
0-8
9 19
29
1
2-3
1 55
77
3
2
4 12
125
5
1-7
6 68
173
7
1-3
9 24
30
1
2-8
1 61
78
3
2-5
4 17
126
5
2-1
6 73
174
7
1-8
9 30
31
1
3-3
1 66
79
3
2-9
4 22
127
5
2-6
6 79
175
7
2-3
9 35
32
1
3-8
1 71
80
3
3-4
4 28
128
5
3-1
6 84
176
7
2-8
9 41
33
1
4-3
1 76
81
3
3-9
4 33
129
5
3-6
6 69
177
7
3-3
9 46
34
1
4-8
1 82
82
3
4-4
4 38
130
5
4-1
6 95
178
7
3-8
9 51
35
1
5-3
1 87
83
3
4-9
4 44
131
5
4-6
7 00
179
7
4-3
9 57
36
1
5-7
1 92
84
3
5-4
4 49
132
5
5-1
7 05
180
7
4-8
9 62
37
1
6-2
1 98
85
3
5-9
4 54
133
5
5-6
7 11
181
7
5-3
9 67
38
1
6-7
2 03
86
3
6-4
4 60
134
5
6-1
7 16
182
7
5-7
9 73
39
1
7-2
2 08
87
3
6-9
4 65
135
5
6-6
7 21
183
7
6-2
9 78
40
1
7-7
2 14
88
3
7-4
4 70
136
5
7
7 27
184
7
6-7
9 83
41
1
8-2
2 19
89
3
7-9
4 76
137
5
7-5
7 32
185
7
7-2
9 89
42
1
8-7
2 24
90
3
8-4
4 81
138
5
8
7 37
186
7
7-7
9 94
43
1
9-2
2 30
91
3
8-9
4 86
139
5
8-5
7 43
187
7
8-2
9 99
44
1
9-7
2 35
92
3
9-4
4 92
140
5
9
7 48
188
7
8-7
10 05
45
1
10-2
2 41
93
3
9-9
4 97
141
5
9-5
7 53
189
7
9-2
10 10
46
1
10-6
2 46
94
3
10-3
5 02
142
5
10
7 59
190
7
9-7
10 15
47
1
111
2 51
95
3
10-8
5 08
143
5
10-5
7 64
191
7
10-2
10 21
48
1
11-6
2 57
96
3
11-3
5 13
144
5
11
7 69
192
7
10-6
10 26
TABLE D.
219
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
FHEKI II.
u. s.
STERLING.
FRENCH.
D. S.
STERLING.
FRENCH.
CEH IS.
B.
u.
F. C.
CENTS.
S.
D.
F. C.
CEN'I S.
S.
D.
1-5
t. C.
CENT S. |
S.
i).
F. C.
193
7
11-1
10 31
244
10
0-3
13 05
295
12
15 76
346
14
2-6
18 49
194
7
11-6
10 37
24.3
10
0-N
1:1 10
290
12
0
15 82
317
14
31
18 54
195
8
0-1
11) 12
246
10
1-3
13 15
297
12
2-5
15 87
348
14
3-6
18 60
ioo
8
0-7
111 47
217
10
1-8
13 20
298
12
2-9
15 92
349
14
4-1
18 65
197
8
1-2
ao 53
248
10
2-3
13 25
299
12
34
15 98
350
14
4-0
18 71
198
8
1-7
in 58
249
10
2-8
13 31
300
12
3-9
16 03
351
14
5-1
18 76
199
8
2-1
10 03
250
10
3-3
13 36
301
12
4-4
16 08
352
14
5-6
18 81
200
8
2-6
9
251
10
3-8
13 41
302
12
4-9
16 14
353
14
61
18 86
201
8
31
10 74
252
10
4-3
13 47
303
12
5-4
10 19
354
14
6-6
18 92
202
8
3-6
111 70
253
10
4-8
13 52
304
12
5-9
16 24
355
14
7
18 97
20:3
8
41
10 85
254
10
5-3
13 57
305
12
64
16 30
356
14
7-5
19 02
204
8
4-6
10 90
255
10
5-7
13 63
306
12
6-9
16 35
357
14
8
19 08
205
8
51
10 96
256
10
6-2
13 68
307
12
7-4
16 41
358
14
8-5
19 13
206
8
5-6
11 01
257
10
6-7
13 73
308
12
7-9
16 46
359
14
9
19 18
207
8
6-1
11 06
258
10
7-2
13 79
309
12
8-4
16 51
360
14
9-5
19 24
209
8
6-6
11 12
259
10
7-7
13 84
310
12
8-9
16 57
361
14
10
19 29
209
8
7
11 17
260
10
8-2
13 89
311
12
9-4
16 62
362
14
10-5
19 34
210
8
7-5
11 22
261
10
8-7
13 95
312
12
9-9
16 67
363
14
11
19 40
211
8
8
11 28
262
10
9-2
14 00
313
12
10-3
16 73
364
14
11-5
19 45
212
8
8-5
11 33
263
10
9-7
14 05
314
12
10-8
16 78
365
15
0
19 50
213
8
9
11 38
264
10
10-2
14 11
315
12
11-3
16 83
366
15
0-5
19 56
214
8
9-5
11 44
265
10
10-6
14 16
316
12
11-8
16 89
367
15
1
19 61
215
8
10
11 49
266
10
11-1
14 21
317
13
0-3
16 94
368
15
1-5
19 66
216
8
10-5
11 54
267
10
11-6
14 27
318
13
0-8
16 99
369
15
2
19 72
217
8
11
11 60
268
11
0-1
14 32
319
13
1-3
17 05
370
15
2-5
19 77
218
8
11-5
11 65
269
11
0-7
14 37
320
13
1-8
17 10
371
15
2-9
19 82
219
9
0
11 70
270
11
1-2
14 43
321
13
2-3
17 15
372
15
3-4
19 88
220
9
0-5
11 76
271
11
1-7
14 48
322
13
2-8
17 21
373
15
3-9
19 93
221
9
1
11 81
272
11
2-1
14 53
323
13
3-3
17 26
374
15
4-4
19 99
222
9
1-5
11 86
273
11
2-6
14 59
324
13
3-8
17 31
375
15
4-9
20 05
223
9
2
11 92
274
11
3-1
14 64
325
13
4-3
17 37
376
15
5-4
20 10
224
9
2-5
11 97
275
11
3-6
14 69
326
13
4-8
17 42
377
15
5-9
20 15
225
9
2-9
12 02
276
11
4-1
14 75
327
13
5-3
17 47
378
15
6-4
20 20
226
9
3-4
12 08
277
11
4-6
14 80
328
13
5-7
17 53
379
15
6-9
20 25
227
9
3-9
12 13
278
11
5-1
14 85
329
13
6-2
17 58
380
15
7.4
20 31
228
9
4-4
12 18
279
11
5-6
14 91
330
13
6-7
17 63
381
15
7-9
20 36
229
9
4-9
12 24
280
11
6-1
14 96
331
13
7-2
17 69
382
15
8-4
20 41
230
9
5-4
12 29
281
11
66
15 02
332
13
7-7
17 74
383
15
8-9
20 47
231
9
5-9
12 34
282
11
7
15 07
333
13
8-2
17 79
384
15
9-4
20 52
232
9
6-4
12 40
283
11
7'5
15 12
334
13
8-7
17 85
385
15
9-9
20 57
233
9
6-9
12 45
284
11
8
15 18
335
13
9-2
17 90
386
15
10-3
20 63
234
9
7-4
12 50
285
11
8-5
15 23
336
13
9-7
17 96
387
15
10-8
20 68
235
9
7-9
12 56
286
11
9
15 28
337
13
10-2
18 01
388
15
11-3
20 73
236
9
8-4
12 61
287
11
9-5
15 34
338
13
10-6
18 06
389
15
11-8
20 79
237
9
8-9
12 66
288
11
10
15 39
339
13
11-1
18 12
390
16
0-3
20 84
238
9
9-4
12 72
289
11
10-5
15 44
340
13
11-6
18 17
391
16
0-8
20 89
239
9
9-9
12 77
290
11
11
15 50
341
14
0-1
18 22
392
16
1-3
20 95
240
9
103
12 83
291
11
11-5
15 55
342
14
0-7
18 28
393
16
1-8
21 00
241
9
10-8
12 88
292
12
0
15 61
343
14
1-2
'8 33
394
16
2-3
21 05
242
9
11-3
12 93
293
12
0-5
15 66
344
14
1-7
18 38
395
16
2-8
21 11
243
9
11-8
12 99
294
12
1
15 71
345
14
2-1
18 44
396
16
3-3
21 16
220
TABLE D.
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
1
FRENCH.
u. s.
STERLING.
FRENCH.
u. s.
STERLING.
FRENCH.
CENTS.
S.
D.
F.
c.
CENTS.
"s.
D.
F.
c.
CENTS.
S.
D.
F.
D.
CENTS.
S.
D.
F. C.
397
16
3-8
21
21
423
17
4-6
22
61
449"
18
5-4
23
1
99
475
19
6-2
25 38
398
16
4-3
21
27
424
17
5-1
22
66
450
18
5-9
24
05
476
19
6-7
25 44
399
16
4-8
21
32
425
17
5-6
22
71
451
18
6-4
24
10
477 '
19
7-2
25 49
400
16
5-3
21
37
426
17
6-1
22
76
452
18
6-9
24
15
478
19
7-7
25 54
401
16
5-7
21
43
427
17
66
22
82
453
18
7-4
24
21
479
19
8-2
25 60
402
16
6-2
21
48
428
17
7
22
87
454
18
7-9
24
26
480
19
8-7
25 65
403
16
6-7
21
53
429
17
7-5
22
92
455
18
8-4
24
31
481
19
9-2
25 70
404
16
7-2
21
59
430
17
8
22
98
456
18
8-9
24
37 !
'482
19
9-7
25 76
405
16
7-7
21
64
431
17
8-5
23
03
457
18
9-4
24
42 ;
483
19
10-2
25 81
406
16
8-2
21
69
432
17
9
23
08
458
18
9-9
24
47
484
19
10-6
25 86
407
16
8-7
21
75
433
17
9-5
23
14
459
18
10-3
24
53
485
19
111
25 92
408
16
9-2
21
80
434
17
10
23
19
460
18
10-8
24
59
486
19
11-6
25 97
409
16
9-7
21
85
435
17
10-5
23
24
461
18
11-3
24
64
487
20
0-1
26 02
410
16
10-2
21
91
436
17
11
23
30
462
18
11-8
24
69
488
20
0-7
26 08
411
16
10'6
21
96
437
17
11-5
23
35
463
19
0-3
24
74
489
20
1-2
26 13
412
16
11-1
22
02
438
18
0
23
41
464
19
0-8
24
79
490
20
1-7
26 19
413
16
11-6
22
07
439
18
0'5
23
46
465
19
1-3
24
85
491
20
2-1
26 24
414
17
0-1
22
12
440
18
1
23
52
466
19
1-8
24
90
492
20
2-6
26 29
415
17
0-7
22
18
441
18
1-5
23
57
467
19
2-3
24
96
493
20
3-1
26 34
416
17
1-2
22
23
442
18
2
23
62
468
19
2-8
25
01
494
20
3-6
26 40
417
17
1-7
22
28
443
18
2-5
23
67
469
19
3-3
25
06
495
20
41
26 45
418
17
2-1
22
34
444
18
2-9
23
73
470
19
3-8
25
12
496
20
4-6
26 50
419
17
2-6
22
39
445
18
3-4
23
78
471
19
4-3
25
17
497
20
51
26 56
420
17
3-1
22
45
446
18
3-9
23
83
472
19
4-8
25
22
498
20
5-6
26 61
421
17
3-6
22
50
447
18
4-4
23
89
473
19
5-3
25
28
499
20
6-1
26 66
422
17
4-1
22
55
448
18
4-9
23
94
474
19
5-7
25
33
500
20
6-6
26 72
N.B. This table is based upon the gold standard of England, and the silver standard of France, because
gold is the chief circulation in England, and silver in France. The full weight and fineness of the dollar,
sovereign, and franc are assumed. By the aid of this table, foreign readers will be able at once to convert our
valuations in Chapter II. into their own, of any coin not exceeding five dollars ; for larger ones, an addition
will be necessary. The table will also be of use for other purposes, to the American reader.
ERRATA.
Page 185, line 6, for "three times" read "twice."
Page 212, opposite Great Britain read 1 to 66; France, 1 to 41 ; Austria, 1 to 2*1. (The period intended is since
1830, as in the preceding table, generally.)
FINIS.
C. Sherman, Printer.
SUPPLEMENT
MANUAL OP COINS AND BULLION.
Seven years having elapsed since the publication of the Manual, and the demand for
it being still kept up, the authors have deemed it desirable to impart a freshness and
increased usefulness to the work, by adding so much of new matter as would bring it
down to the present time.
Jacob R. Eckfeldt,
William E. Du Bois,
Assayers U. S. Mint.
Philadelphia, December, 1840.
Under the four headings of New Rate or
Charges at the Mint, Recent Coins of the
World, Important Counterfeits, and Gold
from California, the ensuing details will be
arranged. To which will be added some inci-
dental items, and useful tables.
I. NEW RATE OF CHARGES AT THE MINT.
This article is placed first, not from any
superior importance, but because that which im-
mediately follows is materially affected by it.
It is known to all who have made deposits of
gold or silver at our Mint for coinage, that the
full equivalent is returned, in coin, without any
charge or deduction, provided the metal was
brought in a state fit for working, and properly
alloyed. This has always been the policy of our
government, which regards a national coinage as
so much of a national benefit, that it pays the
expense of maintaining the mint.
But a great deal of the bullion and foreign coin
offered, requires some preparatory treatment to
bring it into a fit condition for minting operations.
It may be below standard fineness, or above
it ; or wanting in ductility ; or the two precious
metals may be mixed, and need parting. The
cost of converting all such bullion into standard
222
SUPPLEMENT TO THE MANUAL
metal, fit for coinage, is by law justly devolved
upon the depositor or owner ; the following be-
ing the provision in the Act of Congress of
January 18th, 1837, applicable to the case.
" Sect. 18. And be it further enacted, That
the only subjects of charge by the Mint to the
depositor, shall be the following : — For refining,
when the bullion is below standard ; for tough-
ening, when metals are contained in it which
render it unfit for coinage ; for copper used for
alloy, when the bullion is above standard ; for
silver introduced into the alloy of gold, and for
separating the gold and silver, when these metals
exist together in the bullion ; and that the rate of
these charges shall be fixed, from time to time, by
the Director, with the concurrence of the Secre-
tary of the Treasury, so as not to exceed, in their
judgment, the actual expense to the Mint of the
materials and labour employed in each of the
cases aforementioned ; and that the amount re-
ceived from these charges shall be accounted for,
and appropriated for defraying the contingent
expenses of the Mint."
Under this provision, as is stated in a circular
of Dr. Patterson, Director of the Mint, of June,
1849, "the terms upon which Gold and Silver
are received for coinage have been re-adjusted,
and the following tariff of charges has been
adopted, with the concurrence of the Secretary of
the Treasury. It presents terms the most liberal
that are consistent with the actual cost of the
operations, and, it is believed, as advantageous
to depositors as those of any other Mint or
Refinery."
Without giving a detail of the items of that
tariff (printed copies of which may be had at the
Mint), we shall here state generally its operation,
and the changes effected by it.
Gold bullion, and gold coins, alloyed entirely
or chiefly with silver, will be parted much more
cheaply, and with a much wider range, than
heretofore. This range will generally include
the bullion produced from North Carolina, Cali-
fornia, New Granada, Africa (except the rings),
and a portion of that from Virginia ; and in
coins, the pale doubloons, and Bechtler's pieces.
To what extent the values of these varieties will
thus be affected, will be shown in the succeeding
article. It will be for the interest of depositors,
however, to avoid the division of their bullion
into small parcels. Of gold 935 thousandths
fine, it will require over 200 ounces, to make a
return of silver ; at 870, the usual average of pale
doubloons, 45 ounces will be necessary ; at 700,
the remainder being silver, 14J ounces will be
sufficient to report silver.
In silver bullion, containing gold, and nearly
or quite free from copper, the lowest proportion
of gold hitherto reported, has been 2i- thou-
sandths ; equal to 12 grains in the Spanish assay.
The minimum now will be one thousandth (say
4TS5- grains Spanish) ; but in such case, to make a
clear return of five dollars' worth of gold, as
provided in the regulations, there must be not
less than 1115 troy ounces (say 1206 ounces
Spanish) in the deposit.
If the silver, containing gold, is also coppery,
the expense of parting is somewhat increased.
The lowest report of gold in such metal will be 14
thousandths, and at that proportion, the deposit
must contain at least 850 ounces, the fineness of
the silver being between 701 and 800 ; if over
800, then 460 ounces will report gold. Gilded
plate, Spanish plate, and bars from manufac-
tories, are almost the only articles affected by
this part of the tariff. Silver coins, although
scarcely ever free from gold, do not contain
enough to afford a return to the depositor. A
single exception will be noticed in the next divi-
sion, but it will be shown to be unimportant.
Silver coins under our standard fineness (900
thousandths), will be subjected to a charge pro-
portional to their fineness, but not materially
greater than the rate hitherto, except in the baser
kinds.. From Prussian and German thaler pieces,
of 750 fine, the lowest that are usually offered in
considerable sums, there will be a deduction for
refining, equal to about one cent on each coin,
more than the former charge, which was scarcely
OF COINS AND BULLION.
223
more than nominal; consequently the Mint value
of those pieces will be reduced by that much.
German crowns, 875 fine, will pay about one-
third of one cent on each coin. Mexican dollars,
on the average, will be charged usually 19 cents,
or at most 38 cents, on one thousand pieces ;
they being almost up to our standard. The
value of these and other varieties of coin will,
however, be re-stated presently, at the net return
under the new regulations.
The kinds of deposits which will not be materi-
ally affected by this new table of charges, are,
most of the gold from Georgia, Alabama, and
Virginia, all from New Mexico, and the African
rings; also, all gold coins of Europe, Asia, and
Mexico ; all silver coins and plate above stan-
dard fineness or not much below it ; and all silver-
direct from the mines, that is ductile and free
from gold.
II. RECENT COINS OF THE WORLD.
A coin once set in circulation, retains its place
and use longer than any other part of the ma-
chinery of life, and is extremely slow in going
out of fashion ; so that the information respecting
it, which the dealer, the collector, and the public
at large require, does not soon become obsolete.
The details in our Manual are therefore as use-
ful as ever, and need only such additions as the
lapse of time has called for. New coins, or modi-
fications of old ones, are continually appearing ;
and in the latter case, it often happens, that the
holder finds he has become, if we may so speak,
an unconscious sufferer. Old names are retained,
but essential properties are altered; and a new
progeny of doubloons, dollars, francs, or shillings,
is found by an assayer's scrutiny to be something
different, most likely inferior, to the older stock.
Keeping a steady watch on these, as it is im-
pliedly our duty, we have collected a number of
items, which as in our former publication, will be
set forth in alphabetical order, and as briefly as
possible.
The weight is expressed in grains, and the fine-
ness in thousandth parts.
Belgium. — Gold coin, 25 francs ; a new deno-
mination; 1848 is the earliest date noticed. It
expresses on its reverse the intended standards,
7-915 grammes, (equal to 122-12 troy grains,)
900 fine. The average of 20 pieces tried, is
121-9, fineness 899; value $4 72. This is a
slight depreciation : it ought to be §4 79, to com-
pare with the former series of Belgian gold coin,
or $4 81 to be equivalent with the French.
We notice also, in silver, a piece of 2-J- francs,
1849, weighing 192 grains ; fineness (of a single
specimen) 901 ; value 46} cents.
Bolivia.— The dollars from 1841 to 1846,
tried in parcels, vary in fineness from 896 to 901 ;
a very large lot gave 897 ; showing some ten-
dency downward. 'Weight, varying from 411
to 421, averages 416-}; value on a general ave-
rage, 100-6 cents.
Britain. — The new florin, or two-shilling
piece, being one-tenth of a pound sterling, is
understood to be an advance towards a decimal
system. It is not yet fairly in currency ; we
have been favoured with a single specimen, which
is very pretty.
Central America. — A recent assay of the
gold escudo and its half (two-dollar and one-dol-
lar pieces) shows a very marked decline from the
standards. The escudo, 1844-49, weighs 48 ;
the half, 1825-49, weighs 24 ; average fineness
of both, 809 ; values respectively, $1 67, and 83}
cents. The gold dollar ought to be 93}, to bear
a due proportion to the doubloon of that country,
or 97-}, relatively to doubloons generally.
The recent silver dollar is very fluctuating in
fineness. Those of 1840-42 showed 887 fine ;
two pieces of 1847, gave 880, and 820. Such
uncertainty, and such depreciation, must destroy
the character of the coinage. This coin contains
gold enough to part profitably, under our new
regulations, the assay invariably showing not less
than 3 thousandths ; but it is unavailable, unless
the dollars can be obtained at the intrinsic, in-
224
SUPPLEMENT TO THE MANUAL
stead of the nominal, value ; which is not to be
expected. It is rather a scarce coin.
Chili. — In the dollar of 1848 we find a varia-
tion of weight from 415 to 419 ; fineness 901J,
which is lower than former dates ; but the ave-
rage value is 101 cents.
Until lately, we had no opportunity of test-
ing the fractional coins. The quarter-dollar,
1843-45, weighs only 92, but is 903 fine ; the
eighth, or real, is strictly proportional. Values
respectively, 22-4 and 11*2 cents ; making a
profit to government, and a loss to holders, of
about eleven per cent.
China. — The trashy coin of this great empire
deserves notice only by way of recreation. In
1842, we quoted the cash (tong-tsien) at 800
to the Spanish dollar; in 1847, the equiva-
lent varied from 1200 to 1300, — so hard is it to
fasten a value upon that which is valueless. A
carpenter or tailor, we are told, receives 160 of
them (say 13 cents) for a day's work ; of which
60 is required for the daily bread. The coin is
extremely convenient for alms-giving, a single
piece being the usual quietus for a beggar.
Colombia.
Venezuela.
■ See Ecuador, New Granada,
Ecuador. — The quarter-dollar, or two-real
piece, 1847, weighs 104, and is only 675 fine;
value 18-9 cents. This depreciation corresponds
with what was before noticed in some of the frac-
tional coins of Peru.
France. — The 20 and 5 franc pieces of the
Republic, although entirely changed in face, are
the same for weight and fineness as before.
Germany. — Here there is no change of stan-
dards, but we observe the denomination of double-
gulden, not noticed in the Manual, value 79 cents.
The whole German issue of the gulden series gives
an average of 900 fine by actual assay.
Since the adoption of the new rate of charges
at this Mint, the thaler of Northern Germany,
750 fine, yields a return of 67£ to 68J cents, ac-
cording to wear ; the crown, 875 fine, 106 to
107 cents.
Hatti. — Large quantities of Haytian coin
have been recoined here. They are so variable
in weight and fineness, that it is not easy to put
a definite valuation upon them. They should,
however, yield 76 to 78 cents per ounce, taken
promiscuously, and unwashed. The piece of 100
centimes, dignified with the name of dollar,
bearing the head of President Boyer, is worth
about 25 cents upon an average ; while the 25
centimes, both of Petion and Boyer, averages 7J
cents. In a large promiscuous deposit of all
sizes, we found the average net value of the
"dollar" to be 25-7 cents. The coins range
from 600 to 625 fine, if free from counterfeits —
a baser quality than is to be found in any other
coinage, on this side of the Atlantic. But since
August last, there has been a new order of things ;
and coin-collectors and assayers are looking
with impatience for the head of Faustin the
First.
Mexico. — In 1842, we averaged recent dol-
lars at 416-J- grains, 898 fine, value 100-6 cents.
The average fineness has since improved to 899,
and value 100-75 cents.
The coins of two new mints, have recently
been tried. The doubloon of Guadalupe y
Calvo, in the state of Durango, 1847, varies in
weight from 417 to 420; fineness 869 to 873;
average value $15 69. The dollar of the same
mint, 1844-47, averages in weight 420J, in fine-
ness 908, and therefore in value as high as
102 '8 cents. This mint began operations in
1844 ; its distinctive mark is GC, in the usual
place in the legend.
The dollar of Culiacan, in Sinaloa, 1846-48,
averages 41 5 J grains, with a pretty wide varia-
tion in individual pieces; fineness 903; value
101 cents. The mint-mark is the letter C.
OF C 0 I X S AND BULLION.
Mexican dollars are not flowing so abundantly
in this direction as in former years, although
they are yielding a better return.
Milan. — The revolution of 1848 produced a
new gold coin in Lombardy: it bears on the
obverse a female figure with the legend Italia
Libera, Dio lo vuole — " Italy free, God
wills it ;" and on the reverse, a wreath, within
which is the denomination, 20 Lire Italiane
— "20 Italian livres;" and outside of it the
legend, Governo Provisorio di Lombardia.
It weighs the same as the 20-franc piece of
France, and was evidently meant as a return to
the Milanese standard of 1805. The coin is
more rare than could be wished : only a single
specimen has reached us. Coin-collectors will
consider it as a prize, for its singular beauty, and
its scarcity ; and as the monument of a great
event in history.
Netherlands. — The new 2J-guilders piece
was announced in our Manual as having been
decreed, but had not then been received. The
legal standards are, 25 grammes (385-8 grains)
in weight, 945 thousandths in fineness. The
actual results, of dates 1842-45, are, 386 grains,
944 fine ; value 98-2 cents. The coin often ap-
pears here in mixed deposits. It is remarkable
for its high grade of fineness ; yet it is really a
depreciated issue, since, to be equal to the former
guilder series, it ought to be worth 100-2 cents.
New Granada. — This country continues to
send a large supply of doubloons to our market ;
and this makes it the more important to notice
a very recent and considerable reduction in the
value of the coin. Within a few months a new
piece has appeared, with new devices and stan-
dards ; the latter being expressed on the face of
the coin by— "Lei 0,900— Peso 25,8064 G."
That is, fineness, 900 thousandths ; iveight, so
many grammes; — a long-drawn fraction, corre-
sponding to 398-31 troy grains. At those rates,
the piece would be worth $15 43-8, and would
avowedly fall below the previous value of the
doubloon ; but upon actual trial it is still worse,
as will be shown directly. This change must have
taken place since the beginning of 1849, as we
notice pieces of the old style, bearing that date.
But as the doubloons of New Granada are
alloyed almost entirely with silver, which is now
profitably parted at this Mint, it is necessary to
re-state the mint value of the older piece, as well
as to give information respecting the new. The
silver extracted makes a sensible addition to the
values of both kinds ; that is, if they are offered
in sufficient quantities to meet the requirement,
that the net product of a parting must be not less
than five dollars ; below that limit the operation
is not performed. The following terms must
therefore be noticed. The doubloon of the old
style down to the early part of 1849, weighs on
an average 416-J grains, and contains 870 thou-
sandths gold, and about 120 silver ; if presented
in a quantity less than 44 ounces, its net mint
value will be $15 61 ; in a larger quantity than
that, it will be $15 71. — The new doubloon,
beginning with 1849, weighs 398 grains, and
contains in parcels 893J to 895 thousandths
gold, say 894, and of silver about 100 ; net mint
value, in any quantity less than 60 ounces,
$15 31 ; in a larger quantity, $15 38.*
The reduction of mint charges for parting,
has had a marked effect in sending pale doubloons
here for recoinage.
Norway. — The immigration from this country
brings us considerable parcels of Norwegian and
Swedish silver coins. The dalers of these two
realms, which have the same monarch, were stated
in the Manual to be interchangeable as to value :
although very different as to their standards.
Under our new mint charges, there is now some
* This piece is considerably reduced in diameter, as com-
pared with the old, and is a much neater coin. The dies
are apparently of English make, and the head of Liberty,
which is in good flesh, greatly resembles that of the British
Queen. Collectors of Roman coins will be pleasantly re-
minded of the nummi vicloriati.
226
SUPPLEMENT TO THE MANUAL
variation of value, since those of Sweden are of
so much lower fineness, and are subjected to a
greater charge for refining. They will be noticed
in place. The daler, and half, of Norway, average
878 fine (the law calling for only 875, or seven-
eighths), and their weights, unworn, are respec-
tively 446, and 223 grains ; net mint value of
the daler, 105 cents ; the half, 52J. This valua-
tion is down to 1848, the latest date we have
seen.
Peru. — A new half dollar, with the word
Pasco in the legend, 1844, gives an average
weight of 203 (variation 200 to 210), fineness
906 ; value 49|- cents.
Prussia. — The years 1848-49, in other re-
spects unsettled, show no change in the gold
coinage. It still maintains its superiority to the
other classes of ten and five-thaler pieces. The
double-Frederick or ten-thaler, is 903 fine,
weighs 206 grains, and is worth $8 01 ; practi-
cally, an even eight-dollar piece, for us.
Kussia. — Five-rouble pieces of 1848-9 show
the fineness of 916J ; a proof that the assaying
and alloying are conducted with admirable ex-
actness ; the standard being 916f . The coin is
worth $3 96-7. As the Russian mint depends,
no doubt, upon the Russian mines, and not upon
foreign coins, for its material, we felt an interest
in examining as to what proportion of silver was
left in the alloy of the coin ; and found only 5 J
thousandths. Hitherto we have found no gold
coins so nearly desilvered.
Siam. — We were not sufficiently acquainted
with the silver bullets of Siam, to take account
of them in the Manual. Some specimens of
this curious money have since been examined.
They are of different calibers and tolerably well
proportioned to each other. The tical weighs,
without much variation, 235 grains, and is 928
fine ; value, 58-7 cents. The salung, 61 grains,
929 fine, 15-2 cents. The prang, 30 grains, 907
fine, 7'3 cents. Siam may claim the merit of
originality in the shape of her coin, which will
not admit of piling, and scarcely of lying still ;
the lively emblem of a true circulating medium.
Sweden. — The specie daler of Oscar, 1847-48,
is 750 fine, weighs 525 grains, and yields 104-2
cents after mint charges.
Turkey. — There was a new system of coinage
promulgated in 1840, which is noticed in our
work ; there is a still newer, beginning with 1845.
The gold coins are evidently designed to be
22 carats (916-6) fine, as in the neighbouring
empire of Russia. By actual assay they are 915
fine ; the piece of 100 piastres weighs 111 grains,
and is worth $4 37-4 ; the piece of 50 piastres,
55|- grains, worth $2 18-7. In respect to value
they compare with the former series of 20, 10,
and 5 piastres ; though entirely of different
standards.
The silver coins are greatly improved in qua-
lity, and apparently based upon the Austrian
standard of five-sixths (833^) fine. They are,
the piece of 20 piastres, 371J- grains, 828 fine,
net value 82 cents ; 10 piastres, 186 grains,
826 fine, 41 cents ; and 5 piastres, 92J grains,
824 fine, 20J cents. These coins are well ad-
justed in weight, and altogether show in their
way a great advance in the progress of Turkish
civilization. The piastre of commerce seems to
be based upon the gold ; the exchange in 1845,
when these coins were received, rated the piastre
at 4-3 cents.
United States. — We have no change to re-
cord in the standards of our coinage. The code
of 1837 has left them, like our form of govern-
ment, with nothing to desire. There are, how-
ever, two new gold coins added to our list by the
law of March 3d, 1849, with a limitation to four
years from that date. These are the dollar, and the
double eagle, or twenty-dollar piece. The former
began to be issued at the principal mint on the
8th of May ; since which time to November 1st,
OF COINS AND BULLION.
227
there have been coined at the Philadelphia Mint
571,007 pieces ; North Carolina branch mint,
11,034 ; Georgia branch, 18,120 ; New Orleans,
205,000 ; in all 805,827 pieces. The double eagle
is so nearly ready, that it will probably be issued
before this "work is out of press. Both coins were
designed by the Engraver of the Mint, Mr. J. B.
Longacre.
There are several classes of gold coin, which
are not of the United States, but are struck
within the national boundaries, and which ought
to be noticed in this place. These are the
Becutler's coins of North Carolina, and the
various California coins. In the same con-
nexion, it will be proper to give an investiga-
tion of the stamped ingots of Moffat & Co.
The coins of C. Bechtler are fully described in
the Manual (page 100) ; but since the date of
that publication, the mint has passed into the
hands of A. Bechtler, as appears on the face of
the coin ; and there is a marked difference of
value between the C and A. The five-dollar
pieces of the former were deficient from one to
six per cent, upon the alleged value, averaging
three per cent., or $4 85 ; the one-dollar pieces
were worth 95J to 97 cents. The five-dollar
pieces of the latter vary, from the full alleged
value, to a deficit of one and a half per cent.
There are no dates on the coins, to enable us to
mark the difference ; but the pieces assayed in
1843, were better than those (apparently fresh)
assayed in 1849. The last and newest lot gave
$4 94 to the five-dollar piece. It is to be borne
in mind, that as Bechtler's pieces are alloyed
with silver, they will produce about a half of one
per cent, more, if offered in sufficient quantity,
say 43 ounces. The dollars, as far as tried, are
two per cent, below their nominal value. — The
coin appears to be considerable in amount, but it is
not current in the Middle and Northern States ;
it is frequently brought to the Mint for re-
coinage.
We have next to mention four varieties of coin,
which have already reached us from California.
1. The mint of " N. Gr. & N." at San Fran-
cisco, does not profess the same degree of ac-
curacy as Bechtler's, as to fineness. Its claim
to be full weight of half eagle is proved by
a number of trials, the variation not exceeding
one grain in any case ; but the legend on the re-
verse, California gold without alloy, allows
a pretty wide range. As far as our assays go,
the truth of this stamp is proved ; there is no
alloy, other than that already introduced by the
hand of nature, and which is generally more than
sufficient. Three pieces gave severally the fine-
ness of 870, 880, and 892 thousandths; all
were within the scope of " California gold." They
consequently worth $4 83, $4 89, and $4 95*
respectively, without the silver ; and including
that, 2-J cents more. As it sometimes happens
(not often) that the native gold is above our
standard fineness, the proprietors may some-
times put more than five dollars' worth into a
coin, but the average will always be in their
favour, and protect them from a losing operation.
Especially will they keep themselves safe, while
gold is held in the market at fifteen and a half,
to sixteen dollars an ounce, or even after it shall
have risen to a considerably higher valuation.
It is the margin between the market and mint
values of grain-gold, which enables this private
mint to carry on its work, and keep to its terms.
Indeed, when the honesty of the coinage shall
have been duly established, it may be found suffi-
ciently accurate for the region to which it belongs,
until (as must soon happen) the commercial and
legal values of gold shall very nearly coincide.
The coin is neatly executed, and besides the
two legends above quoted, bears an eagle, a circle
of stars, the date 1849, and the name San Fran-
cisco. It wears the somewhat brassy tint which
belongs to gold alloyed with silver only.
2. The next variety, a five-dollar piece which
emanates from the Oregon Exchange Company,
is rather the most original and picturesque of the
assortment. It bears on one disk the above title,
with the inscription " 130 Grs. Native Gold.
5 D." and on the other a Beaver (a good emblem
of mining industry), a row of initial letters, and
228
SUPPLEMENT TO THE MANUAL
the date 1849. On the whole, the coinage will
no doubt prove agreeable, if it can be well spoken
of as to its intrinsic qualities. Hitherto we have
had the opportunity of examining only one piece.
It weighed 127J grains, was 878 thousandths
fine, and contained only the natural alloy : result-
ing value, $4 82 ; with the silver (in sufficiently
large lots) 2J cents more.
3. Next is a ten-dollar piece of the Miners'
Bank, San Francisco, as is stated on the ob-
verse ; on the reverse is an eagle, with thirteen
stars, and the word California. It makes no
professions, of weight or fineness ; only of value.
Two pieces have just been tried here, and one
other is reported to us from the Branch Mint at
New Orleans, assayed by Dr. Hort. The results
are as follows :
Grs.
Thous. fine.
Base metal
First, assayed here,
268
860
28 thous.
Second, " "
265£
871
22 "
Third, " N. 0.,
259
866
29 "
A fourth piece -weighed here 261 grs.
From this statement it appears, first, that
while there is a great want of adjustment in
weight, the average in that respect is about 263 J
grains, or 5 J over the lawful eagle; /next, that
the fineness is rather low, averaging only 865, and
that the deficiency has been made up by a small
addition of copper ; next, that we have here the
representation of several meltings, or else of one
illy mixed, whose range is from 860 to 871 fine,
decidedly below the range of California gold ;
lastly, that though in distinct pieces there may
be a scope of intrinsic value (not including the
silver parting) from l$9 66 to $9 92, the apparent
average is about $9 87. This result, if adhered
to, may be satisfactory to the citizens of Cali-
fornia, showing as it does a deficiency scarcely
over 1J per cent, on the alleged value; but any
addition of copper, to the displacement -of so
much gold, seems unnecessary.
4. The introduction of copper alloy is more
marked in the fourth and last variety we have to
mention ; but here, the due proportion of gold is
nearly kept tip. This is the ten-dollar piece of
Moffat & Co., whose establishment is probably
the most extensive and systematic of any.
Four of these pieces have been assayed; three
here, and one at the New Orleans Branch Mint.
First, assayed here, 258 grs., 884 thous. gold,
61 " silver,
55 " base metals.
1000-
Second, assayed here, 259 grs., 895 gold,
41 silver,
64 base metals.
1000-
Third, assayed here, 258 grs., 895 gold,
58 silver,
47 base metals.
1000-
Fourth, assayed at New Orleans, 258 grs., 881 gold,
60 silver,
59 base metals.
1000-
A fifth piece weighed here 259 grs.
It should be understood, that of the "base
metals" in the alloy, only three or four thou-
sandths are to be set down as native, being chiefly
iron ; the residue is copper, added by the melter.
The average of copper so added, appears to be
56 thousandths, say If per cent.
Of the use of copper as an alloy, and not as a
cover for the subtraction of gold, no one will
complain, since it is the usage at almost all mints,
intended to give the coin a better colour, and to
make it harder, and fitter for wear, than if silver
alone were used for the mixture. From the fore-
going it appears, that while a single piece may be
worth $9 78 to $9 98, the average value is $9 88,
(the silver not. being in sufficient proportion to
pay for parting,) which is so near to ten dollars,
that the use of copper was evidently with honest
intent.
The result was at first so surprising, that only
a decided confirmation could satisfy us. It
proves, what was not to be expected, that the
! 20. 436 to 403 grs.,
S lli.pi) to 17.53.
OF COINS AND BULLION.
._,,,,
establishment lias gone to the pains and expense
of partly refining out the silver from the native
gold, in order to the substitution of the other
alloying metal.
California gold, in its native state, is not fine
enough to bear the addition of 6$ per cent, copper,
or we may say, any copper at all, -without de-
basing the coin, and injuring the community. It
is already more than sufficiently alloyed, by the
hand of nature, with silver, to bring it down to
standard ; and it was to the last degree unlikely,
that copper should have been added, for any other
purpose than to swell the profits of the private
mint. Unlikely things, however, are sometimes
stubbornly true, and this establishment must be
exonerated on that score. The metal that they
take out of their ten-dollar pieces, is not gold,
but silver ; and silver, considered merely as an
alloy of gold coins, except it can be profitably
parted out, goes for no more than copper, in the
same predicament. Without feeling bound to
account for a matter which does not belong to us,
we may suggest, as the most likely motive for
reddening the coin with copper, that it is thereby
relieved from the pale, almost ungoldlihe hue,
of the native melted gold, and looks more like
the veritable eagle of the United States, to
whose general aspect it is rather too carefully
conformed.
The obverse bears a tolerable imitation of our
female head of Liberty, with the name Moffat
& Co. upon the tiara, instead of the word Liberty;
together with the circle of stars, and the date.
On the reverse is the eagle with Ten Dol. under-
neath ; and above, the legend s. m. v. Cali-
fornia Gold, occupies about the same space as
the words United States of America, on the
national coin. It is also of the same diameter and
thickness as our eagle. So many assimilations,
of colour, stamp, and dimension, if they might
not lead to a mistake, might nevertheless render
the coin more passable.
Upon a review of these varieties of California
coins, it will strike any reader with surprise, that
in a country where gold is so abundant, and so
much below the general commercial or mint rate,
not one of the coins should come up to its pro-
fessed value. It is not as in North Carolina,
where the private coiner has to contend with a
near mint, and consequently a full price in
market. A profit of two to two and a half dollars,
on the ounce, would seem to dispose any manu-
facturer of coin to err on the side of liberality ;
or at least to earn a good name for his establish-
ment by giving good measure. The issue of such
coins is not illegal, and under existing circum-
stances, may be salutary, or even dictated by
necessity. If we might be allowed to advise
a standard, say for the piece of ten dollars, it
would be, first, to take the native gold as it comes,
and add no alloy. The addition of copper, what-
ever good purposes it may answer abstractedly,
must excite suspicion towards any establishment
not regulated by law, or responsible to govern-
ment; and especially in California, for the simple
reason, that where labour is so dear, and the
supply of chemicals and other materials so pre-
carious and expensive, it will not be taken for
granted that pains are taken to refine out the
silver, to make room for copper. Then, taking
the native gold, let the pieces, with a pretty ac-
curate adjustment, average eleven pennyweights
(264 grains) each. Here would be a good current
coin for the gold region, and an acceptable
remittance at par to any part of the world, cer-
tainly to our states. The individual piece would
ordinarily be worth not less than ten dollars, and
on the average a few cents over. Its pale colour
would be pardonable in the eyes of our dealers in
coin and bullion, who, presenting such pieces in
sufficient quantities for recoinage at the Mint,
would derive an additional profit of about a half
of one per cent.
Besides the ten-dollar pieces, the establishment
of Messrs. Moffat & Co. issues stamped ingots,
intended apparently both for circulation and for
commercial remittance, as they are of various
sizes, from about nine dollars to two hundred
and sixty. They are melted and cast in a very
workmanlike manner, generally in close moulds,
230
SUPPLEMENT TO THE MANUAL
making a perfect rectangular bar, •without any
sink at the end. Each bar bears the name of
the Company, the alleged fineness in carats, and
the value, thus :
Moffat & Co.
20* Caeat
$16.00
and at one side, or on the under side, the 'weight
in pennyweights and grains. A considerable
number of small ingots bear the even value of
sixteen dollars, as above, and have no 'weight
stamped on them ; generally, however, the values
are fractional, such as " |9 43" and " $256 24."
As to the accuracy of the ^weight, fineness,
and value, we have to observe first, that the
ingots, as far as tried, are equal to the stamp, in
■weight ; sometimes a little full. A deposit of 181
ounces weighed 44 grains over the stamped
weight, an average excess of \ gr. to the ounce ;
which is a good adjustment. But the sixteen-
dollar ingots are of very inconstant weight ; as,
for instance, from 18 dwts. to 19 dwts. 4 grs.
Next as to fineness : without any very gross devia-
tion, (except in a casual instance,) there is a
decided want of accuracy, as well as a want of
uniformity in error. The first importation of these
bars, in August last, gave a higher fineness than
the stamp ; thus, one lot stamped 21/5 carats,
equal to 881-6 thousandths, resulted 893 fine, an
error in favour of the receiver of about 23 cents
per ounce ; another parcel marked 21T7ij, equal to
893-2, gave 899-5. (It were much to be wished
that the simple millesimal notation of fineness
had been used, instead of the awkward and dis-
carded one of carats.)
But in more recent deposits, the error lies the
other way. One parcel stamped 21f carats
(906-5), proved to be 887 ; another, 21J (896),
gave but 883, a deficit of 27 cents per ounce ;
and a third, of 22 carats (916-6), was only 904.
Of the sixteen-dollar ingots, all stamped 20f
(864-6), two have been assayed, and result 850,
and 848. Both were alloyed with copper ; the
former about 1J per cent., the latter about 4 per
cent. ; being the only cases in which we have
noticed any other than the natural silver alloy.
Those two ingots were worth respectively, $15 81,
and $15 73.
Lastly, as to the real value of the ingots, as
compared with the alleged, it is evident from
what has been said, that some of them are rated
too low, and others too high ; the overvalued ones
being apparently the more recent. Perhaps the
error, in any case, is not such as to affect the
sensibilities of a people already flooded with gold;
but in the old and impoverished settlements of
the East, notice is sure to be taken even of smaller
deviations. What has surprised us, both in this
case, and that of the private mint in North Caro-
lina, is, that the valuations should be wrong,
even upon their own data ; being doducible by a
simple rule of arithmetic. Every one knows, as
a starting-point, that a weight of 258 grains of
gold, nine-tenths fine, is by our laws worth ten
dollars. Moffat's ingots marked 2135b carats
(881-6) were variously calculated, at $18 10 to
$18 14 per ounce ; the proper result, at that fine-
ness, is $18 22J. But perhaps, as in weight and
quality, so in value, de minimis (in auro) non
curat California.
Depositors from that region inform us, that the
foregoing varieties of coins and ingots are current
there, at their alleged value; but in some cases,
especially at the steamer agency, received with a
reluctance which is naturally felt towards new
kinds of money.
III. RECENT COUNTERFEIT COINS.
The great majority of counterfeits, new or old,
deserve neither to be admired nor feared ; and
the fact of their obtaining any circulation, proves
folly on the one party, as much as roguery upon
the other. With this wholesale judgment, we
dismiss a multitude of awkward Mexican birds,
laughable heads of Liberty, type-metal casts, and
villainous compounds of German silver ; all of
OF COINS AND BULLION.
231
which arc too much kept in countenance !>y the
lingering presence, in our circulation, of the ugly
and worn-out coin of Spanish monarchs. There
are two or three varieties, however, recently
brought to our notice, which deserve a more re-
spectful attention; and these are counterfeits of
gold coin only.
1. First may be mentioned, an imitation of the
well-known doubloon of Bogota, in New Granada ;
very well executed as to appearance, but still more
respectable on account of the liberal proportion
of the right metal. The specimen tried here, of
the date 1843, contained 653 thousandths of gold,
the remainder being nearly all silver ; and the
weight being 416 grains, or only a half grain
below the average of the true coin : its value was
§11 70. The value of the genuine being (irre-
spective of silver) about §15 61, the amount of
profit and loss is apparent. The operators
needed some advice, which an honest person
would not like to give. The piece was detected
by its wanting the true colour, which, in such an
alloy, no art of pickling can impart. Those who
deal in patriot doubloons, have to beware of
pieces looking too pale, or too much like fine
gold. In this case, the grand test of iveiglit was
fallacious.
2. A much more important counterfeit, or
class of counterfeits, to us, is the imitation of
our gold coin, lately brought to light ; and which
is as interesting to the man of science, as it is
dangerous to the commercial dealer. The varie-
ties include the eagle, half-eagle, and quarter-
eagle ; there is not much danger of a false gold
dollar, of- that manufacture, for reasons which
will be obvious in the examination.
These various counterfeits began to make their
appearance in 1847, although some of them bear
earlier dates ; and they perfectly agree in cha-
racter. They are of so perfect execution, that
strong apprehension was at first entertained of
the surreptitious procurement of genuine dies,
notwithstanding all precaution in that matter.
However, upon a minute inspection, the impres-
sion, although entirely "brought up," is not so
sharp and decided as in the genuine coin, and
from that circumstance they have exteriorly a
family-character by which a practised eye may
perhaps single them out. The details of impres-
sion correspond to those of the genuine, to the
last microscopic particular. The most skilful
and deliberate artist in the world, could not take
up the graver and make such a fac-simile ; their
dies must have been transferred from our
coin, by some mechanical process, concerning
which very little is known, and the less the
better.
The coins have rather a dull sound in ringing,
but not as if flawed : although they are actually
each in three distinct pieces of metal. Some few
of them, where the weight is kept up, are thicker
than the genuine, and necessarily so ; but gene-
rally the half-eagles run, as in the good pieces,
from 55 to 60 thousandths of an inch, within the
raised rim. The diameter is sometimes rather
too great. The composition is as follows. A thin
planchet of silver (of Spanish standard, as we
found by assay) is prepared, so nearly of the
right diameter, that the subsequent overlaying of
the gold plate at the edge, will make it exact.
Two other planchets, of gold, whose quality will
be stated directly, are also prepared ; one of them
is of the right diameter of the projected coin, the
other is about a quarter of an inch larger, in
diameter. Here are the three pieces which make
up the coin. The two gold plates are then sol-
dered upon the silver, the projecting rim of the
larger disk of gold is bent up to meet the smaller,
and to constitute the edge of the coin, and then the
whole is finished by a blow in a coining-press.
The suggestion that the coin may have been
perfected in an electrotype battery is disproved
by several considerations, especially by the
conclusive one, that the effects of the blow are
visible upon the silver planchet, when the gold
is lifted off; and the process of saiving out a
good coin, so as to make use of its two faces to
cover a piece of silver, could not have been em-
ployed in this case, because the edge of the coin
actually appertains to one of the gold surfaces ;
232
SUPPLEMENT TO THE MANUAL
and besides, the gold is sometimes of a higher
fineness than our standard.*
The eagle, of -which we have had but one
sample, was not particularly noted, as it came
after some others, of the lower denominations.
Of the half-eagle counterfeits, -we have had
the dates of 1844, 1845, and 184T. Of the
quarter-eagle, only the date of 1843 has been
shown, and this had the mint-mark, 0, of the
Branch at New Orleans.
The half-eagle of 1844, weighed 129 grains,
just the right weight; the golden part weighed 84 J-
grains, and was 915 thousandths (about British
standard) fine ; value of the gold $3 30. The
silver weighed 44 grains, was 897 thousandths
fine, and worth 10 cents ; whole value of the
piece, $3 40. — Another piece, 1845, was 10
grains light ; another of the same date, of which
only a part was furnished, gave the assay of 902J
thousandths for the gold on the head side, and
901J on the eagle side ; both higher than our
limit, but very near it. — -Two other pieces, 1847,
were each about 13 grains light ; specific gravity
of one of them, 14-1. (That of the true coin is
17-2 to 17-5.)
Of the quarter-eagle, no less than five were
offered in a single deposit, for recoinage ; they
were severally from one to nine grains light. One
piece, however, from another source, was a little
over weight ; the specific gravity, 12-83 ; fineness
of the gold 915 ; value of the whole piece about
$125.
It only remains to inquire, how these counter-
feits are to be detected and avoided. First, it may
be said, that to lay down any rules which would
protect the careless and indifferent, is out of the
* This counterfeit is knowingly accounted for in a late
newspaper paragraph. The writer says — " The dies, under
the present rules [at the U. S. Mint] are all pressed;
hence the ease with which they can be counterfeited by
any die-sinker. In England and France, the most eminent
men in that branch are selected to coin dies, and such is
the sharpness and perfection of their dies, that counterfeits
are almost an impossibility." — It was from the mints of
England and France, that we borrowed the improvement
of transferring dies.
question. Any man who can afford to take a half
or quarter-eagle from any but an undoubted source,
without some attention, can at any rate afford to
be cheated out of half its value. And yet the
best test we can propose, is altogether an incon-
venient one, to any but a bank, broker, or shop-
keeper. That test is the weight. In every case
except one, which has come under our notice, the .
balance would have settled all doubts. An error
of a grain, in an unworn piece, would be conclu-
sive : even worn pieces of our gold coinage are
never deficient, on that account, more than one
grain and a half. If the counterfeit should happen
to be of right weight, then its too great thickness
would be apparent to a careful examiner.
As the balance is not a very portable or ready
apparatus, several instruments have been con-
trived expressly for the purpose of trying gold
coins. We know of none more ready and effectual
than one lately invented by Mr. W. M. Snider,
machinist, in the employ of the U. S. Mint.
Its value is attested by Mr. Parry, clerk in
the office of the Assistant Treasurer of the
United States at Philadelphia, who has one in
constant use. Its merits consist in enabling
the experimenter to decide by a single move, as
to the weight, diameter, and thickness, of any of
the coins in our series ; in being so carefully
adjusted, as to detect any known counterfeit, by
one or other of those measurements ; and in a
general simplicity of arrangement, which obviates
the liability to get out of order.
On the whole, it is difficult to say how far the
appearance of this class of counterfeits should
alarm the public, and make them shy of a gold
currency. It is certainly the most dangerous
imitation that has come to our knowledge. Tet
when it is considered that in each counterfeit of
the half-eagle there is and must be from three
to three and a half dollars' worth of precious
metal ; that the manufacture must require a good
deal of machinery, and consummate skill, both
artistic and mechanical ; that the investment of a
considerable capital is requisite, as also a wide
organization for pushing the issues quietly into
OF COINS AND BULLION.
233
circulation, it may be hoped that prudent and
competent persons will find it better worth their
while to pursue a more honest and honourable
calling. The public have an additional security,
in respect to gold coins, that they are constantly
passing through the various treasuries of govern-
ment, the banks, and the brokers' offices; by
whose vigilance that currency is kept quite or
nearly pure.
Since the above was written, we have seen
counterfeit half-eagles of Dahlonega mint (D),
of brass gilt, pretty well executed, but very
light ; date 1843. Also a quarter-eagle, 1846,
no mint-mark, of copper and silver, heavily gilt ;
well-looking, but weighing 48 grains instead
of 64*.
IV. GOLD FROM CALIFORNIA.
In the work to which this is a supplement,
information was given respecting gold bullion in
its various forms, from all the localities whence
it came to this Mint ; including almost all
the mining regions then known, in the world.
Since that time, the mines of California have
disclosed their unrivalled treasures, and presented
a new and abundant stock to operate upon. The
history of this discovery and of its progress,
reaches the public through every newspaper, and
needs no recapitulation here; but whatever is
known to us as Assayers, respecting this gold, will
now be concisely stated.
We have had opportunities of examining the
auriferous product of that country in three forms :
first, the very dirt and gravel as it comes up
by pick and spade ; next the ferruginous black
sand, remaining after the earthy matter had
been washed out, but containing the gold; lastly
(which is the appropriate work of the office), the
clean gold itself, either in grains, amalgam,
bars, or coins.
The first sample of ore was sent us by an officer
in the army, during the Mexican war, and in
advance of the wonderful rumours ; but so per-
fectly exempt was this considerable invoice of
4
stones from anything like precious metal, that
we might be forgiven for having joined in the
general incredulity, by which so many have
been deceived, and some belated. Other speci-
mens have since been forwarded for examina-
tion by the Hon. Secretary of the Interior,
most of which were equally unproductive ; dis-
proving at least the common impression, that
everything in the gold region is a gangue for
gold. One of these, a serpentine rock, contained
nothing ; another, the slate on which the gold
deposits lie, was also free from gold; a third,
the usual ferruginous quartz of mining districts,
showed only a trace ; while a fourth, the deposit
of gravelly earth found in the bed or on the
margin of a stream, yielded upon various ex-
periments, at the rates of ten to thirty dollars
per bushel, or hundred pounds. (The amount
taken at each trial, was one kilogramme, over
two pounds.)
The most available, mode of working was found
to be the ordinary one of washing, with some
aid, at the close, from amalgamation. With a
moderate degree of care, washing secures all the
gold in the matrix, or brings it into a narrow
and manageable compass, for recovery. To
prove this, several successive trials were made of
the same quantum of earth. All that remained,
after the first washing, was found to be of scarcely
appreciable amount ; as, for instance, when the
quantity first extracted was about fifteen grains,
the residue, afterwards obtained, was only one-
twentieth of a grain. It is not as in our At-
lantic mines, where the gold is disseminated in
pyritous ores, and often in an invisible powder :
where there is a wide difference between the
various "yields" of washing, amalgamating, and
smelting ; and a still wider, between the results
obtained in an analyst's laboratory, and those in
extended, practical operations. Judging from
experiments here, the same cannot be said of the
California mining region. What is lost there, is
probably not in the washing, but in the subsequent
separation of the gold from the black sand.
What we have to say respecting the examina-
234
SUPPLEMENT TO THE MANUAL
tion and treatment of the black iron sand, was
laid before the public a year ago, in a report
to the Hon. Secretary of War. The following is
an extract.
In the last place, we have to mention an examination of
some samples of sand, interspersed with gold, also for-
warded by the War Department. Of this there were two
parcels. The first, weighing in all about 8J pennyweights,
was first reduced in bulk by removing the grains of magnetic
iron, and then subjected to cupellation, a smelting in the
small way. The result of the whole treatment was as
folio ws :
Gold, .... 9-8 parts in a thousand.
Silver combined with the gold, 1*2 " " "
Protoxideof iron (magnetic), 597*2 " " "
Residue, consisting chiefly of
peroxide of iron, . 391-8 " " "
1000-
This would be 68-75 grains fine gold, or 77-07 grains of
gold of native fineness, in a pound avoirdupois of the sand.
The other parcel was treated in two ways, both differing
from the former. First, we took a specific quantity, weighed
by milligrammes, (equal to about 11 .>• pennyweights,) and
having cleansed it by the magnet, subjected the remainder
to a very thorough amalgamation. The amount of fine gold
obtained was 12-44 per thousand. Again, the same quan-
tity of sand was thoroughly washed, (more time being taken
to it than would be likely to pay in a large operation,) and
there resulted 12-05 parts of fine gold per thousand. To
give cupellation its due credit, we must remark that this
second parcel was evidently the richest to the eye. The
specific gravity of the black sand, without the gold, is 4-4,
nearly the same as that of simple magnetic iron.
We have nothing to add to this, except to
qualify a succeeding sentence, which says : —
It is well known that no mode of treatment, however
skilful and scientific, has so far enabled gold-miners to make
a near approach, in a large operation, to the result obtained
by a delicate assay — that is, not without its costing more
than it would be worth.
Such has hitherto been the fact ; but we
strongly incline to the belief, that a careful
manipulation of the black sand, some better
modus than "blowing it out with a pair of
bellows," and yet equally practicable, will enable
the miner to obtain nearly all the gold.
In the last place, it will be interesting to all
parties concerned, to have some particulars about
the gold, after it is recovered from yellow earth
and black sand, and put up in merchantable
shape. It comes here in four forms, as already
named. Two of these, bars and coins, have been
discussed under a former head; of a third, namely,
amalgam, we have had only two deposits, and
nothing need be added to what was said of
that form of bullion in the Manual of Coins
(page 153) ; the fourth, lumps and grains (not
dust) is the principal, almost the only condition,
of California gold in the market.
Those grains appear in every variety of form
and size, from the shapeless lump to the beau-
tiful oval spangle; from the weight of several
pounds, to the fraction of a grain ; though none
are so comminuted as the fine particles of African
or Colombian dust. The largest lump exhibited
here was that brought by Lieutenant Beale, weigh-
ing 81 ounces, and worth fifteen hundred dollars ;
though we have reliable information of a still
larger, which was purchased by the British consul
at San Francisco. The amorphous lumps are
understood to be from the " dry diggings ;" the
flat spangles, and larger laminations, which show
the action of running water in the rounding of
their corners, are from the beds or margins of
mountain streams, discharging into the two main
rivers Sacramento and San Joaquin.
As it respects any characteristic difference in
the fineness of the gold, of different locations (a
very important inquiry), we have to say, that
having tried samples from various sections of the
gold region, selected and marked with that view,
we are unable to find any such difference. As a
general rule, the flat spangles of the rivers are
better than the average of other grains, perhaps
as much as one per cent. ; while the large lumps
appear to be higher, generally, than either ; not
invariably, because some lots of such lumps came
out unexpectedly low. That of Lieutenant Beale
was 921 thousandths fine ; another, sent by Hon.
Thomas Ewing, was 957. The extreme bounda-
ries of fineness of all California gold, so far, are
826 to 957 ; but these are so wide of the customary
OF COINS AND BULLION.
235
limits, that dealers need not fear the one, nor hope
for the other. The usual range is from 875 to
905 ; the average is 885 to 890. These figures
refer of course to the gold after melting. In that
operation there is an average loss of 2J per cent.,
owing mainly to the presence of the oxide of iron
which covers and penetrates every grain. If
the gold grains should be dampened, or saturated
with water, as is frequently their condition on
opening at the Mint, the loss in melting may
reach to 4 per cent. But assuming the grains
to be dry, it results from the above data that
the gold is worth, at mint rates, from $17 63 to
§18 23 per ounce, and on the average from
$17 84 to $17 94, not counting the silver con-
tained. Bar-gold, having already sustained its
loss in melting, is of course worth 2-J per cent,
more. When the gold is presented in sufficient
quantity, the increase from silver parted will be
about ten cents per ounce. The following will be
a guide to determine what is the requisite quan-
tity ; useful to depositors from North Carolina,
and New Granada, as well as California, who
wish to save their silver.
Gold 850 fine, minimum weight 35 ounces.
860
88
870
43
880
48
890
55
900
73
905
81
915
104
(The weight is after melting.)
In the printed report already mentioned, it
was stated as our impression at that time, in
reference to platinum accompanying California
gold, that it existed in but small relative quan-
tity. This is still found to be true ; in a single
instance, however, it was present in sufficient
quantity to reduce the fineness, even below the
limit given. In such case it does not alloy uni-
formly, but appears in specks or clots through
the mass of metal. The amount of platinum in
the ease mentioned, was 47 parts per thousand.
The alloy of the gold ordinarily, is wholly
silver, with a little iron. It is the coating of the
oxide of iron which gives the gold its rich hue,
almost resembling that of fine gold. As that is
removed in melting, the metal comes out so much
paler than before, that persons unacquainted with
the matter might suspect a wilful admixture of
silver. The people of California understand this,
from the comparison of bars and coins made
there, with the native grains. We need not
send coals to Newcastle ; but on our side of the
Union, small samples will be interesting.
V. RECAPITULATION OF THE NET MINT VALUE
OF GOLD AND SILVER COINS, ISSUED WITHIN
TWENTY-FIVE YEARS PAST.
N.B. Inquiry has been frequently made at
the Mint for a compend of the values of foreign
coins, without a due consideration of the difficulty
of putting in a small space such a statement as
would be satisfactory. The quarto volume, to
which this is supplementary, was not found too
large for its purpose, which was to supply such
information as dealers, amateurs, and legislators,
would from time to time be likely to require.
Still, a condensed table of the coins more usually
seen, and within a contracted range of date,
would certainly be useful to dealers and others,
and especially with the modifications occasioned
by the new mint tariff of charges. We therefore
offer the following, inserting values only, and
leaving the details of legal weight and fine-
ness, and of actual weight and fineness, to be
sought for in the larger work ; as also the par-
ticulars concerning coinage of older date than
just specified.
236
SUPPLEMENT TO THE MANUAL
GOLD COINS.
Austria. Quadruple ducat, -
Ducat, -
Sovereign (for Lombardy), -
Baden. Five Gulden, -
Bavaria. Ducat, •■
Belgium. Twenty-franc piece,
Twenty -five, "
Bolivia. Doubloon, -
Brazil. Piece of 6400 reis, -
Britain. Sovereign, -
Brunswick. Ten-thaler, -
Central America. Doubloon,
Escudo, -
Gold dollar,
Chili. Doubloon, (before 1835),
" (1835 and since),
Denmark. Double Frederick, or Ten-thaler,
Ecuador. Half-doubloon, -
Egypt. Hundred piastres, -
France. Twenty francs, -
Greece. Twenty drachms, -
Hanover. Ten-thaler, George IV.,
Do. William IV. and Ernest,
Hindustan. Mohur, E. I. Company,
Mecklenburg. Ten-thaler, -
Mexico. Doubloon, average
Netherlands. Ducat, - - - -
Ten guilders,
New Granada. Doubloon, 21 carat standard, -
Do. including the silver,
Do.
Do.
Persia. Tomaun,
Peru. Doubloon, Lima, to 1833,
Do. Cuzco, to 1833,
Do. do. 1837, -
Portugal. Half-joe (full weight),
Crown, - - - -
Prussia. Double Frederick, -
Rome. Ten scudi, -
Russia. Five roubles, -
Sardinia. Twenty lire, -
Saxony. Ten-thaler, -
Ducat, -
Spain. Pistole, (} doubloon), -
Turkey. Hundred piastres,
Twenty piastres (new),
Tuscany. Sequin, -
United States. Eagle (before June, 1834),
Five-dollar piece of C. Bechtler,
average, -
Dollar of the same, average,
nine-tenths standard,
including the silver,
9 12
2 27
6 75
2 04
2 27
8 83
4 72
15 58
8 72
4 84
7 89
14 96
1 67
83
15 57
15 66
7 88
60
97
85
45
84
89
10
7
4
3
8
7
7
7
7 89
15 53
2 26
4 00
15 61
15 71
16 31
15 38
2 23
15 55
15 62
15 53
8 65
5 81
8 00
10 37
8 96
3 84
7 94
2 26
3 90
4 37
82
2 30
10 62
4 85
D. 0. M.
United States. Five-dollar piece of A. Bechtler,
4 92 to 6 00
Dollar of the same, - 98
Oregon Exch. Co. Five dollars, 4 82
N. G. and N., San Fr., do.,
4 83 to 4 95
Miners' Bank, San Fr. Ten dollars,
9 66 to 9 92
Moffat & Co. do. Ten-dollars,
9 78 to 9 98
Do. Sixteen-dollar ingots, about
15 75
SILVER COINS.
Austria. Rix dollar, -
Florin, -
Twenty kreutzers,
Lira (for Lombardy),
Baden. Crown, -
Gulden or florin, -
Bavaria. Grown, -
Florin, -
Six kreutzers,
Belgium. Five francs, ...
Two and a half francs,
Two francs, -
Franc, - - - -
Bolivia. Dollar, ...
Half-dollar debased, 1830,
Quarter do. do. do.
Brazil. Twelve hundred reis,
Eight do. do. -
Four do. do.
Bremen. Thirty-six grote,
Britain. Half-crown, ...
Shilling,
Fourpence, -
Brunswick. Thaler, -
Central America. Dollar. Uncertain ; say
Chili. Dollar, - - - -
Quarter-dollar, -
Eighth do. or real, -
Denmark. Rigsbank daler,
Specie do.
Thirty-two skillings,
Ecuador. Quarter-dollar,
Egypt. Twenty piastres, -
France. Five francs, -
Franc, - - - -
Frankfort. Florin, -
Greece. Drachm, - - - -
Guiana. British. Guilder,
Hanover. Thaler, fine silver,
97
48 5
16
16
07
39 5
06 5
39 5
03
93
46 5
37
18 5
00 6
37 5
18 7
99 2
66
33
54
21
7
07
1
68
97
1 01
22
4
11
2
52
3
1 04
7
17
18
7
96
93
2
18
5
39
5
16
5
26
2
69
2
OF COINS AND BULLION.
237
Hanover. Thaler, 750 fine, -
Hayti. Dollar, or 100 centimes,
Hesse-Cassel. Thaler, - - -
One-sixth thaler, -
Hesse-Darmstadt. Florin or Gulden, -
Hindustan. Rupee, -
Mexico. Dollar, average, -
Naples. Scudo, ... -
Netherlands. Three guilders,
Guilder, -
Twenty-five cents,
Two and a half guilders,
New Granada. Dollar, usual weight, -
Do. lighter, and debased ; 1839,
Norway. Rigsdaler, -
Persia. Sahib-koran, -
Peru. Dollar, Lima mint, -
Dollar, Cuzco, -
Half-dollar, Cuzco, debased,
Half-dollar, Arequipa, debased,
Do. Pasco, -
Poland. Zloty, - - - -
Portugal. Cruzado, - - - -
Crown, of lOOOreis, -
Half do. ... -
Prussl\. Thaler, average, -
One-sixth, do. -
Double Thaler, or 3£ Gulden,
Rome. Scudo, - - - - -
Teston (T\ scudo), - - -
Russia. Rouble, -
Ten Zloty, -
Thirty copecks, -
Sardinia. Five lire, -
Saxony. Species-thaler, -
Thaler (XIV. F. M.),
Siam. Tical, -
Spain. Pistareen (4 reals vellon), - p- -
Sweden. Species-daler, -
Half do.
Turkey. Twenty piastres, new coinage,
Tuscany. Leopoldone, -
Florin, -
Wurtemburg. Gulden, 1824,
Do. 1838, and since,
Double Thaler, or 31 Gulden,
68
25
67
11
39
44
1 00
94
1 20
40
09 5
98 2
1 02
64
1 05
21 5
1 00 6
1 00 8
VI. SILVER FROM LAKE SUPERIOR.
Scarcely any discovery of late date has better
deserved the attention of men of science, than
that of silver occurring in the copper mines of
Lake Superior. Hitherto it has been produced
in but small quantity ; possibly the finding of a
rich pocket may yet command the respect of
business-men. The silver is in the native or
metallic state, and appears in grains or lumps,
firmly attached, or as it 'were welded, to the
copper ; and yet the two metals are not at all
intermingled or alloyed. Deducting a small
proportion of mere earthy matter, the silver is
pure, not even containing gold ; and the copper
is pure also. We are not aware that silver has
ever been found, elsewhere, in this most curious
position.
Three deposits of this silver have already been
made at the Mint. One had been previously
melted and cast into bars, and consequently its
character was gone, though not its value. The
second was a large, wide-spreading cake, smoothed
somewhat by the action of water ; it was found
by assay to contain 95 per cent, unalloyed silver,
and 5 per cent, earthy matter. The value of it
was $119. This has been retained in the collec-
tion of the Mint, and forms one of its greatest
curiosities. The third deposit, brought very
recently, and emanating from the Pittsburg
Company, consisted of grains or lumps, varying
in weight from one grain to four pennyweights
(say a quarter of a cent to a quarter of a dollar) ;
they had been detached from the copper, and so
effectually that very little of that metal remained.
The amount of dirt removed by melting was
about two per cent. ; the remainder showed a
fineness of 962 thousandths. The whole weight
was about 238 ounces ; and the value, $290.
VII. TABLE OF CORRESPONDENCE BETWEEN PEN-
NYWEIGHTS AND GRAINS, AND THE HUN-
DREDTHS OF A TROT OUNCE.
Gold and silver bullion, and coins in quantity,
are weighed at the United States Mint and its
Branches, by ounces and hundredths, rejecting
the usual division into pennyweights and grains.
It were much to be wished that this easy decimal
system were brought into general use. Probably
that wish will ere long be realized ; but in the
238
SUPPLEMENT TO THE MANUAL
mean time, it is desirable for dealers and depo-
sitors to have a ready means of knowing the
equivalents in the two methods of weighing ;
and the ensuing table is inserted for that purpose.
Decimals
Decimals
Decimals
of an
Bwts. Qrs.
of an
Dwts
Grs.
of an
Dwts.
Qrs.
ounce.
ounce.
ounce.
01
0 5
•34
6
19
■67
13
10
02
0 10
■35
7
0
•68
13
14
03
0 14
■36
7
5
■69
13
19
04
0 19
•37
7
10
•70
14
0
05
1 0
•38
7
14
■71
14
5
06
1 5
■39
7
19
■72
14
10
07
1 10
■40
8
0
■73
14
14
08
1 14
■41
8
5
•74
14
19
09
1 19
•42
8
10
■75
15
0
10
2 0
•43
8
14
■76
15
5
11
2 5
•44
8
19
•77
15
10
12
2 10
■45
9
0
•78
15
14
13
2 14
■46
9
5
■79
15
19
14
2 19
•47
9
10
•80
16
0
15
3 0
■48
9
14
•81
16
5
16
3 5
■49
9
19
•82
16
10
17
3 10
■50
10
0
■83
16
14
18
3 14
•51
10
5
■84
16
19
19
3 19
•52
10
10
■85
17
0
20
4 0
•53
10
14
■86
17
5
21
4 5
■54
10
19
■87
17
10
22
4 10
■55
11
0
■88
17
14
23
4 14
•56
11
5
•89
17
19
24
4 19
■57
11
10
•90
18
0
25
5 0
■58
11
14
•91
18
5
26
5 " 5
•59
11
19
■92
18
10
27
5 10
■60
12
0
■93
18
14
28
5 14
■61
12
5
■94
18
19
29
5. 19
■62
12
10
•95
19
0
30
6 0
•63
12
14
•96
19
5
31
6 5
■64
12
19
■97
19
10
32
6 10
•65
13
0
•98
19
14
•33
6 14
•66
13
5
•99
19
19
VIII. COMPARISON OP AMERICAN AND FOREIGN
WEIGHTS, USED FOR PRECIOUS METALS.
The normal weight of this Mint is the troy-
ounce, for considerable quantities ; and the troy
grain, for single coins.
This ounce is equal to 480 grains ; to 31-09815
French grammes ; to 1-08108 Spanish ounces.
The grain is 64-788 milligrammes.
Our standard French kilogramme weighs
15,435 grains; or 32-15625 ounces.
The gramme is 15-435 grains.
The milligramme, -0154 gr.-
The average estimate of the Spanish mark, is
3552 troy grains ; or 7 '40 ounces, troy. This
mark is divided into eight ounces ; one of which
consequently, equals 0-925 troy ounce.
The Castellano, a Spanish weight for gold
only, is one-fiftieth of the mark, and therefore
should equal 71-04 troy grains. By an invoice
from New Granada, we found it to be 70-935 ;
so that 71 grains might be taken as the equiva-
lent, accurate enough in practice.
The Cologne mark, normal money-weight of
Germany, by the German Convention of 1838,
was estimated at 233-855 grammes, answering
to 3609-55 grains troy. It was before rated
usually at 3609.
Our silver dollar, since 1837, weighs 26-725
grammes.
A kilogramme of standard (tV) gold, is worth
$598 25-5.
IX. BULK AND PACKING OP PRECIOUS METALS.
A solid or cubic inch of fine gold weighs
10-1509 ounces, and is worth $209 84.
A cubic foot of the same, $362,600.
A cubic inch of standard gold weighs 9-0989
ounces, and is worth $169 28.
A cubic foot of the same, $292,500.
A cubic inch of fine silver weighs 5-5225
ounces, and is worth $7 14.
A cubic foot of the same, $12,338.
A cubic inch of standard silver weighs 5-4173
ounces, and is worth $6 30-3.
A cubic foot of the same, $10,891.*
Gold is not measured by the pint, at least
not out of California ; yet it may be interesting
to know, that a dry-measure pint of California
* The above calculations are based upon the weight of
water as 252*458 grains to the cubic inch, the thermometer
being at 60° and the barometer 30 inches ; (Silliman's First
Princ. Chem., 1848.) The specific gravity of fine gold is
taken at 19-3, standard at 17-3; fine silver 10-5, standard
10-3. As these gravities are only approximate, vfe may be
excused for not carrying out the decimals very far, as is
rather too often done in works of science.
OF COINS AND BOLLIOX.
239
grains is found to weigh from 141 to 1431
ounces ; value about $2,060. The average spe-
cific gravity is consequently 9-61 ; so that it
occupies about twice as much bulk, in that
form, as when melted and cast into bars. A
pint of African dust was found to weigh 148
ounces.
The advantage of having gold grains or dust
cast into bars, as a preparative for exportation, is
perhaps overrated. True, it has rather an insuffi-
cient outfit, if packed in paper, leather,* muslin,
Seidlitz-boxes, or porter-bottles, as it comes from
San Francisco. A good tin box, well soldered,
will hold fast and keep dry ; and the mint charges
nothing for melting. This is the most general
kind of packing now used ; but the tin case, if
large, requires to be enclosed in a wooden box,
and after that, there is need of a vigilant watch
and care. A most daring theft was lately
committed, somewhere on the route, by boring
through both box and case ; and about $9000
worth was abstracted.
A keg, 13£ inches high including the chine,
and with a diameter of 10. inches at the head,
and 111 at the bilge (outside measures), is a
convenient size for $2000 in silver coin, or
§50,000 in gold coin.
A keg whose measurements are 19, 11, 13,
as above, is a proper size for $5000 in silver
coin.
A rectangular box, measuring inside 10 by 8
by 5, is the size vised at the Mint for $1000 in
silver coin. This allows the coin to be thrown
in promiscously ; if piled, at least one-third more
can be put in. Such a box would hold $36,000
in gold coin, laid in order ; or $27,000 in dis-
order.
A bag six inches by nine, holds $5000 in
gold coin, with room to tie.
A bag 14 by 18, is a good size for $1000 in
silver coin.
* Material for packing, in California, seems as dear as
it is promiscuous. A leather bag, not too large for a mitten,
was set down in a late invoice at eight dollars.
X. DETERMINATION OF THE VALUE OF A SPECI-
MEN OF GOLD OE SILVER IN ITS NATIVE ROCK,
OR GANGUE.
That which is as old as Archimedes, may yet
be new to some, that a specimen of gold, or silver,
as it comes from its natural bed, intermingled
with stone, and often more prized for its beauty,
or as a keepsake, than the metal would be in a
more condensed and marketable shape, can be
accurately enough valued, without being broken
up or spoiled. The specific gravity of the lump
being determined, and that of the metal and the
matrix being known, the problem is solved by a
direct calculation. The formula is inserted here,
as being a suitable and convenient place for it,
Let a repi
b
c
IV
X
V
esent
sp. gr. of Uie metal,
do. of the stone,
do. of the lump.
weight of the lump,
do. of the gold.
do. of the stone
a (e— b)
Then, x = w,
c (a—b)
b (a—c)
c (a— ft)
The sp. gr. of the rock, say limestone or
ferruginous quartz, may be assumed as 2-6 ; that
of silver, 10-5 ; that of gold, according to its
assay, or usual fineness of that from the region
whence it comes ; for which see tables of sp. gr.
in the large Manual, pages 182-4.
The accuracy of the resulting figures has been
repeatedly pi'oved here by extracting the precious
metal, — a fact of some interest, as all experi-
menters will oonfess. Thus a lump of North
Carolina gold in quartz, which by the above for-
mulary indicated 12-69 ounoes, actually yielded
12-67 ; a difference of only 39 cents in 277 dol-
lars. Again, a gold pebble from California,
belonging to Hon. Thomas Ewing, weighing
3-97 ounces, gave by specific gravities 2-47
ounces of gold ; and by melting, 2-45 ounces ;
error of 39 cents in $48.
240
SUPPLEMENT TO THE MANUAL OF COINS AND BULLION.
XI. PROMPT PAYMENTS AT THE MINT.
It is important to depositors of bullion at
the Mint to know how soon they can receive
their returns in coin. A brief explanation, as
to what was formerly, and what is now, the
usage of the Mint, will conclude the present
treatise.
During the whole existence of the institution,
down to the beginning of 1837, depositors were
obliged to await the coining of their bullion in
turn. This natural course, which was as good as
any one had a right to expect, especially as the
coinage is effected free of charge, produced a
delay, which was considered equivalent to a loss
of one-half of one per cent., judging by the rate
at which mint certificates were bought up by
banks and brokers. But as this order caused a
considerable complication of accounts, and as it
wa,s judged that dormant funds in the Treasury
of the United States might to a moderate extent
be used for payment of bullion, and so enable
the depositor to receive his coin promptly, the
Director of the Mint, Dr. Patterson, made a
successful representation of that matter to the
Head of Department, and funds were placed in
the Treasury of the Mint for that purpose.
Ever since 1837, therefore, with an interruption
of less than six months in 1849, from which the
Mint has recovered, and which is not likely to
recur, deposits have been paid in full, as soon as
the assay has determined their value ; ordinarily
within a few days after the bullion is presented.
THE MORMON COINS
Have just been received, through a gentleman who cnme
overland from Great Salt Lake in eighty-one days. They con-
sist of 20, 10, 5, and -\ dollar pieces. In fineness they are
about 899 thous.. with little variation ; and they contain only
the native silver alloy. The weights are more irregular, and
the valnfis very deficient. The 20 dollar piece weighs from
186 to 453 grains, value Sin 90 to $17 53. The 10 dollar,
219 to 224 grains. 58 50 to $8 70. The -3 dollar, about 111
grains. S4 30. The 21 dollar, about 58 grains, §2 25.
On one side of the coins is Holiness to the Loud, with a
large eye. and something like a mitre; on the other, two hands
m friendly grasp, with the date 1849, and a legend containing
the alleged value, and the initials G. S. L. C. P. G., meaning
Great Salt Lake City. Pure Gold. The ten dollar piece has
PuflE Gold, in full.
January 10
COVER 800K SYSTEW
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