Principal Countries of the World, and the Amount of Specie in Bank and
National Treasuries, and the Amount of Active Circulation.
(Officially Reported in 1884.)
-------------------------+-----------+--------------+------------------
| |Total metallic| Amount of
Countries. |Population.| and paper |specie in national
| | circulation. | treasuries
| | | and banks.
-------------------------+-----------+--------------+------------------
United States | 50,155,783|$1,745,926,755| $534,033,074
Great Britain and Ireland| 35,246,562| 876,318,139| 154,182,691
Dominion of Canada, | | |
including Manitoba | | |
and Newfoundland | 4,506,563| 59,596,084| 9,111,148
British India |252,541,210| 1,099,383,126| 78,358,000
Ceylon | 2,758,166| 2,335,300| 1,273,800
Australia, Tasmania, | | |
and New Zealand | 2,798,898| 96,010,722| 48,737,837
Cape of Good Hope | 780,757| 38,078,000| 8,092,000
France | 37,321,186| 1,990,961,912| 402,939,754
Algiers | 2,867,626| 27,567,000| 5,564,476
Guadeloupe | 185,460| 1,627,750| 564,935
Belgium | 5,536,654| 186,326,515| 17,991,450
Switzerland | 2,846,102| 53,180,731| 11,609,618
Italy | 28,452,639| 533,548,521| 69,357,358
Greece | 1,979,423| 29,143,000| 1,800,000
Spain | 16,625,860| 270,812,440| 27,223,959
Cuba | 1,394,516| 73,043,543| 14,181,243
Luzon | 4,450,191| 4,198,000| 3,765,677
Portugal, including | | |
Azores and Madeira | 4,550,699| 46,367,680| 11,718,874
Germany | 45,234,061| 825,473,023| 181,706,674
Austria-Hungary | 35,839,428| 431,646,314| 98,131,401
Sweden and Norway | 6,479,168| 43,058,443| 12,740,975
Danish Kingdom | 2,096,400| 39,228,000| 14,070,000
Netherlands | 4,061,580| 163,847,949| 55,114,112
Russia | 98,323,000| 646,431,794| 124,008,153
Turkey | 24,987,000| 83,315,976| 14,520,000
Roumania | 5,376,000| 27,372,383| 3,995,298
Mexico | 9,557,279| 52,048,529| 1,763,008
Central America | 2,891,600| 4,701,861|
Argentine Republic | 2,540,000| 71,371,850| 14,196,461
Colombia | 3,000,000| 5,097,830| 200,000
Brazil | 11,108,291| 139,871,255|
Peru | 3,050,000| 14,980,820| 1,882,018
Venezuela | 2,675,245| 2,682,700|
Chili | 2,420,500| 32,555,341| 2,398,000
Bolivia | 2,325,000| 6,908,533| 443,597
Uruguay | 438,245| 11,587,000| 4,601,000
Hayti | 572,000| 4,780,000|
Japan | 36,700,110| 248,744,805| 28,486,973
Hawaiian Islands | 66,895| 1,834,900| 808,200
+-----------+--------------+------------------
| | 9,991,964,524| 1,959,571,764
-------------------------+-----------+--------------+------------------
-------------------------+--------------+-------------
| |
Countries. | Active | Per capita
| circulation. | of active
| |circulation.
-------------------------+--------------+-------------
United States |$1,211,893,681| $24.16
Great Britain and Ireland| 722,135,448| 20.49
Dominion of Canada, | |
including Manitoba | |
and Newfoundland | 50,484,936| 11.22
British India | 1,021,025,126| 4.05
Ceylon | 1,061,500| .38
Australia, Tasmania, | |
and New Zealand | 47,272,885| 16.90
Cape of Good Hope | 29,986,000| 38.40
France | 1,588,022,158| 42.55
Algiers | 22,002,524| 7.67
Guadeloupe | 1,062,815| 5.73
Belgium | 168,335,065| 30.40
Switzerland | 41,571,113| 14.60
Italy | 464,191,163| 16.31
Greece | 27,343,000| 13.81
Spain | 243,588,481| 14.65
Cuba | 58,862,300| 42.21
Luzon | 432,323| .10
Portugal, including | |
Azores and Madeira | 34,648,806| 7.61
Germany | 643,766,349| 14.23
Austria-Hungary | 333,514,913| 9.31
Sweden and Norway | 30,317,468| 4.68
Danish Kingdom | 25,158,000| 12.00
Netherlands | 108,733,837| 26.77
Russia | 522,423,641| 5.31
Turkey | 68,795,976| 2.75
Roumania | 23,377,085| 4.35
Mexico | 50,285,521| 5.26
Central America | 4,701,861| 1.62
Argentine Republic | 57,175,389| 22.51
Colombia | 4,897,830| 1.63
Brazil | 139,871,255| 12.59
Peru | 13,098,802| 4.29
Venezuela | 2,682,700| 1.00
Chili | 30,157,341| 12.45
Bolivia | 6,464,936| 2.78
Uruguay | 6,986,000| 15.94
Hayti | 4,780,000| 8.35
Japan | 220,257,832| 6.00
Hawaiian Islands | 1,026,700| 15.35
+--------------+-------------
| 8,032,392,760|
-------------------------+--------------+-------------
WORLD’S COINAGE.
----------------+-----------+-------------
Calendar years. | Gold. | Silver.
----------------+-----------+-------------
1884 |$99,432,795| $95,832,084
1885 | 94,728,008| 105,105,299
1886 | 92,653,400| 124,678,678
----------------+-----------+-------------
The value of the United States gold coin deposited for recoinage,
principally by the Treasurer of the United States, was $516,984.63,
against $393,545.28 in the preceding year.
In addition to the gold bullion both of domestic and foreign production,
and the foreign and domestic gold coin deposited, old material in the
form of jewelry, bars, old plate, etc., was received containing gold of
the value of $2,265,219.85.
The marked increase in the deposits of gold was at the assay office at
New York, the value of the foreign gold bullion and coin deposited at
that institution during the year being $30,621,006.95, exclusive of fine
bars of its own manufacture, of the value of $7,933,743.98, imported and
re-deposited.
The value of the foreign gold bullion deposited was $22,571,328.70,
against $4,317,068.27 in 1886.
The value of the foreign gold coin received and melted was $9,896,512.28,
against $5,673,565.04 in the year preceding.
The value of the total deposits of gold during the fiscal year 1887,
including all re-deposits as above cited, was $83,416,779.40, against
$49,606,534.65 in 1886, an excess in the year 1887 of $33,810,244.75.
The value of silver bullion of foreign extraction deposited at the mints
during the year 1887 was $1,457,406.01.
The value of foreign silver coin deposited during the year was
$350,598.86, against $812,664.50 in the preceding year.
The value of the United States silver coin deposited (calculated at
the coining rate in silver dollars), not including trade-dollars, was
$768,739.32, most of which consisted of worn and uncurrent silver coins
transferred from the Treasury of the United States for recoinage.
Trade-dollars were received mostly by transfer from the Treasury of the
United States and melted. The bullion contained 5,837,791.87 standard
ounces, of the coinage value in standard silver dollars of $6,793,066.89.
EARNINGS AND EXPENDITURES OF THE MINTS AND ASSAY OFFICES.
The total earnings amounted to $8,842,819.70, and the total expenditures
and losses of all kinds to $1,437,442.95. The profits from operations on
bullion during the past year amounted to the large sum of $7,405,386.75.
A large portion of these earnings consisted of seignorage or profits on
the manufacture of silver and minor coins.
Highest and lowest prices of Gold in New York.
Each month in 1862-1878.
=========+===========+===========+===========+===========+===========
Month. | 1862. | 1863. | 1864. | 1865. | 1866.
---------+-----------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 103¾ 101¾ | 160¾ 133⅝ | 159⅜ 151½ | 234⅜ 197¼ | 144¼ 136¾
February | 104¾ 102⅛ | 172½ 152½ | 161 157⅛ | 216¾ 196⅜ | 140⅝ 135¾
March | 102½ 101⅛ | 171¾ 139 | 169¾ 159 | 201 148⅛ | 136½ 124⅞
April | 102¼ 101½ | 157⅞ 145½ | 184¾ 166¼ | 154½ 143½ | 129½ 125¼
May | 104⅛ 102⅛ | 154¾ 143½ | 190 168 | 145⅛ 128½ | 141½ 125⅛
June | 109½ 103½ | 148⅜ 140½ | 250 193 | 147⅝ 135¼ | 167¾ 137½
July | 120⅛ 108¾ | 145 123¼ | 285 222 | 146⅛ 138⅝ | 155¾ 147
August | 116¼ 112½ | 129¾ 122⅛ | 261¾ 231½ | 145⅛ 140¼ | 152⅛ 146½
September| 124 116½ | 143⅛ 126⅞ | 254½ 191 | 145 142⅝ | 147⅛ 143½
October | 133½ 122 | 153¾ 140⅜ | 227¾ 189 | 149 144⅛ | 154⅜ 145½
November | 133¼ 129 | 154 143 | 260 210 | 148¾ 145½ | 148⅝ 137½
December | 134 128½ | 152¾ 148½ | 243 212¾ | 148½ 144½ | 141¾ 131¼
+-----------+-----------+-----------+-----------+-----------
Year | 134 101⅛ | 172½ 122⅛ | 285 151½ | 234⅜ 128½ | 167¾ 125⅛
---------+-----------+-----------+-----------+-----------+-----------
=========+===========+===========+===========+===========
Month. | 1867. | 1868. | 1869. | 1870.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 137⅞ 132⅛ | 142¼ 133¼ | 136⅝ 134⅝ | 123¼ 119⅜
February | 140⅜ 135⅛ | 144 139¾ | 136¼ 130⅞ | 121½ 115⅛
March | 140⅜ 133⅝ | 141¼ 137⅞ | 132½ 130⅜ | 116⅜ 110¼
April | 141⅝ 132⅝ | 140⅜ 137¾ | 134⅝ 131⅜ | 115⅜ 111½
May | 138⅞ 135 | 140½ 139⅛ | 144¾ 134½ | 115½ 113¾
June | 138¾ 136⅜ | 141¼ 139⅜ | 139⅝ 136½ | 114¾ 110⅞
July | 140⅝ 138 | 145¼ 143⅛ | 137¾ 134¼ | 122¾ 111⅛
August | 142½ 139⅞ | 150 143½ | 136½ 131⅜ | 122 114¾
September| 146⅜ 141 | 145⅛ 141⅛ | 162½ 129¾ | 116¾ 112¼
October | 145⅝ 140¼ | 140½ 133¾ | 132 128¼ | 113¾ 111⅛
November | 141½ 138½ | 137 132 | 128⅜ 121⅛ | 113¾ 110
December | 137⅞ 133 | 136¾ 134⅜ | 124 119½ | 111⅜ 110⅜
+-----------+-----------+-----------+-----------
Year | 146⅜ 132⅛ | 150 132 | 162½ 119½ | 123¼ 110
---------+-----------+-----------+-----------+-----------
=========+===========+===========+===========+===========
Month. | 1871. | 1872. | 1873. | 1874.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 111¼ 110½ | 110⅛ 108½ | 114¼ 111⅝ | 112⅛ 110⅛
February | 112¼ 110¾ | 111 109½ | 115⅛ 112⅞ | 113 111⅜
March | 111⅝ 110⅛ | 110⅝ 109¾ | 118½ 114⅝ | 113⅞ 111¼
April | 111¾ 110⅛ | 113¼ 109⅞ | 119⅛ 116¾ | 114⅜ 111¾
May | 112¼ 111 | 114⅜ 112⅛ | 118⅝ 116⅝ | 113⅛ 111⅞
June | 113⅛ 111¾ | 114¾ 113 | 118¼ 115 | 112¼ 110½
July | 113¾ 111¾ | 115¼ 113½ | 116⅜ 115 | 110⅞ 109
August | 113⅛ 111⅝ | 115⅝ 112⅛ | 116¼ 114⅜ | 110¼ 109¼
September| 115⅜ 112¾ | 115⅛ 112⅝ | 116⅛ 110⅞ | 110¼ 109⅜
October | 115 111½ | 115¼ 112¼ | 111¼ 107¾ | 110⅜ 109¾
November | 112⅜ 110⅜ | 114¼ 111⅜ | 110½ 106⅛ | 112⅜ 110
December | 110¼ 108⅜ | 113½ 111⅜ | 112⅝ 108⅜ | 112⅜ 110½
+-----------+-----------+-----------+-----------
Year | 115⅜ 108⅜ | 115⅝ 108½ | 119 106⅛ | 114⅜ 109
---------+-----------+-----------+-----------+-----------
=========+===========+===========+===========+===========
Month. | 1875. | 1876. | 1877. | 1878.
---------+-----------+-----------+-----------+-----------
| _H._ _L._ | _H._ _L._ | _H._ _L._ | _H._ _L._
January | 113⅜ 111¾ | 113¼ 112⅜ | 107⅛ 105¼ | 102⅞ 101¼
February | 115⅜ 113¼ | 114⅛ 112¾ | 106⅛ 104⅝ | 102⅜ 101⅝
March | 117 114⅜ | 115 113¾ | 105⅜ 104¼ | 102 100¾
April | 115½ 114 | 113⅞ 112½ | 107⅞ 104¾ | 101¼ 100⅛
May | 116⅜ 115 | 113¼ 112¼ | 107⅜ 106¼ | 101¼ 100⅜
June | 117½ 116¼ | 113 111⅞ | 106⅜ 104¾ | 101 100⅝
July | 117¼ 111¾ | 112⅜ 111⅜ | 106⅛ 105⅛ | 100¾ 100⅜
August | 114¾ 112⅝ | 112⅛ 109¾ | 105½ 103⅞ | 100¾ 100½
September| 117⅜ 113¾ | 110⅜ 109¼ | 104 102⅞ | 100½ 100⅛
October | 117⅝ 114½ | 113¼ 108⅞ | 103⅜ 102½ | 100⅜ 100¼
November | 116⅜ 114⅛ | 110⅛ 108⅛ | 103⅜ 102½ | 100½ 100⅛
December | 115¼ 112⅝ | 109 107 | 103⅜ 102½ | 100½ 100
+-----------+-----------+-----------+-----------
Year | 117⅝ 111¾ | 115 107 | 107⅞ 102½ | 102⅞ 100
---------+-----------+-----------+-----------+-----------
NOTE.—Specie payment resumed January 1, 1879, after a suspension of
nearly 18 years.
Latest official estimate of the values of foreign coins in the United
States, January, 1887.
-------------------+------------+-----------------------+----------------
| | |
COUNTRY. | Standard. | Monetary Unit. | Standard.
-------------------+------------+-----------------------+----------------
Argentine Republic | Double | Peso | Gold and silver
Austria | S. silver | Florin | Silver
Belgium | Double | Franc | Gold and silver
Bolivia | S. silver | Boliviano | Silver
Brazil | S. gold | Milreis of 1000 reis | Gold
British Possessions| | |
in N. A. | | Dollar | Gold
Chili | Double | Peso | Gold and silver
Cuba | Double | Peso | Gold and silver
Denmark | S. gold | Crown | Gold
Ecuador | S. silver | Peso | Silver
Egypt | S. gold | Piaster | Gold
France | Double | Franc | Gold and silver
German Empire | S. gold | Marc | Gold
Great Britain | S. gold | Pound sterling | Gold
Greece | Double | Drachma | Gold and silver
Hayti | Double | Gourde | Gold and silver
India | S. silver | Rupee of 16 annas | Silver
Italy | Double | Lira | Gold and silver
Japan | Double | Yen | Silver
Liberia | S. gold | Dollar | Gold
Mexico | S. silver | Dollar | Silver
Netherlands | Double | Florin | Gold and silver
Norway | S. gold | Crown | Gold
Peru | S. silver | Sol | Silver
Portugal | S. gold | Milreis of 1000 reis | Gold
Russia | S. silver | Rouble of 100 copecks | Silver
Spain | Double | Peseta of 100 centimes| Gold and silver
Sweden | S. gold | Crown. | Gold
Switzerland | Double | Franc. | Gold and silver
Tripoli | S. silver | Mahbub of 20 piasters | Silver
Turkey | S. gold | Piaster. | Gold
United States of | | |
Colombia | S. silver | Peso. | Silver
Venezuela | Double | Bolivar. | Gold and silver
-------------------+------------+-----------------------+----------------
-------------------+--------------+----------------------------------
| Value in |
COUNTRY. | U. S. Money. | Standard Coin.
-------------------+--------------+----------------------------------
Argentine Republic | 96.5 | ⅟₂₀, ⅒, ⅕, ½ and 1 peso, ½
| | argentine.
Austria | 35.9 |
Belgium | 19.3 | 5, 10 and 20 francs.
Bolivia | 72.7 | Boliviano.
Brazil | 54.6 |
British Possessions| |
in N. A. | $1.00 |
Chili | 91.2 | Condor, doubloon and escudo.
Cuba | 93.2 | ⅟₁₆, ⅛, ¼, ½ and 1 doubloon.
Denmark | 26.8 | 10 and 20 crowns.
Ecuador | 72.7 | Peso.
Egypt | 04.943 | 5, 10, 25, 50 and 100 piasters.
France | 19.3 | 5,10 and 20 francs.
German Empire | 23.8 | 5, 10 and 20 marks.
Great Britain | 4.86.6½ | ½ sovereign and sovereign.
Greece | 19.3 | 5, 10, 20, 50 and 100 drachmas.
Hayti | 96.5 | 1, 2, 5 and 10 gourdes.
India | 34.6 |
Italy | 19.3 | 5, 10, 20, 50 and 100 lire.
Japan | 78.4 | 1, 2, 5, 10 and 20 yen, gold and
| | silver yen.
Liberia | 1.00 |
Mexico | 07.9 | Peso or dollar, 5, 10, 25 and 50
| | centavo.
Netherlands | 40.2 |
Norway | 26.8 | 10 and 20 crowns.
Peru | 72.7 | Sol.
Portugal | 1.08 | 2, 5 and 10 milreis.
Russia | 58.2 | ¼, ½ and 1 rouble.
Spain | 19.3 | 5, 10, 20, 50 and 100 pesetas.
Sweden | 26.8 | 10 and 20 crowns.
Switzerland | 19.3 | 5, 10 and 20 francs.
Tripoli | 65.6 |
Turkey | 04.4 | 25, 50, 100, 250, 500 piasters.
United States of | |
Colombia | 72.7 | Peso.
Venezuela | 19.3 | 5, 10, 20, 50 and 100 bolivar.
-------------------+--------------+----------------------------------
NOTE.—The “standard” of a given country is indicated as follows, namely:
_Double_, where its standard silver coins are unlimited legal tender, the
same as its gold coins; _S. gold_ or _S. silver_, as its standard coins
of one or the other metal are unlimited legal tender. The par of exchange
of the monetary unit of a country with a single gold, or a double,
standard is fixed at the value of the gold unit as compared with the
United States gold unit. In the case of a country with a single silver
standard, the par of exchange is computed at the mean price of silver in
the London market for a period commencing October 1 and ending December
26, 1886, as per daily cable dispatches to the Bureau of the Mint.
TREASURY DEPARTMENT.
WASHINGTON, D. C., JANUARY 1, 1887.
VALUES OF FOREIGN COINS.
In accordance with the provisions of section 3564 of the Revised Statutes
of the United States, the value of the standard coins of the various
nations of the world were estimated by the Mint Bureau and proclaimed by
the Department on January 1, 1887.
These estimates, to be followed at the custom-houses of the United
States on and after January 1, 1887, in determining the values of
invoices expressed in terms of foreign units of account, are shown in the
following table (see opposite page):
The average price of silver in London for the period embraced between
October 1 and December 26, 1886, was 45.862 pence per ounce, British
standard, equivalent at the par of exchange to $1.00535 per ounce fine.
The corresponding value of silver for the three months ending December
24, 1885, was $1.038141 per ounce fine, a decline of $0.03279, a little
over three cents a fine ounce.
The depression in the price of silver occasioned a change in the
estimated values given the following coins:
Changes in Values of Foreign Coins from 1886 to 1887.
----------------------------------+-------------+-------------
| Value, | Value,
Coins. |Jan. 1, 1886.|Jan. 1, 1887.
----------------------------------+-------------+-------------
Florin of Austria | $0.371 | $0.359
Boliviano of Bolivia | .751 | .727
Sucre of Ecuador | .751 | .727
Rupee of India | .357 | .346
Yen of Japan | .810 | .784
Dollar of Mexico | .816 | .790
Sol of Peru | .751 | .727
Rouble of Russia | .601 | .582
Mahbub of Tripoli | .677 | .656
Peso of United States of Colombia | .751 | .727
----------------------------------+-------------+-------------
The monetary unit of Egypt has been nominally changed from the piaster to
the pound containing one hundred piasters.
The monetary unit of Ecuador also has been nominally changed from the
peso to the sucre, but with no change as to weight or fineness.
In regard to Japan, in the table for 1887 the values of the gold and
silver yen were estimated separately, for the reason that while by law
the standard of Japan is gold, silver is practically the standard of
value, and invoices of merchandise from Japan are generally in terms of
the silver yen.
Aggregate Issues of Paper Money in War times.
The following table exhibits the amount per capita issued of the
Continental money, the French assignats, the Confederate currency, and
the legal-tender greenbacks and National bank notes of the United States.
--------------------+----------------------------+-------------+---------
| Population. | |
--------------------+----------------------------+ +---------
Continental money. | 3,000,000 in 1780 | | $119.84
French assignats. | 26,500,000 (France in 1790)| | 343.98
Confederate curr’cy.| 9,103,332 (11 Confederate | | 71.89
| States, 1860) | |
Greenbacks and | 31,443,321 (United States | |
national | in 1860). | |
bank notes. | |$750,820,228 | 23.87
--------------------+----------------------------+-------------+---------
Refining (by acids), fiscal year 1887.
--------------+---------+----------------------+---------------------
| | Gold. | Silver.
Mint or | Gross +----------+-----------+----------+----------
Assay Office. | ounces. | Standard | Value. | Standard | Value.
| | ounces. | | ounces. |
--------------+---------+----------+-----------+----------+----------
Philadelphia. | 721,765| 190,539| $3,554,912| 553,437| $643,999
San Francisco.|1,506,217| 365,970| 6,808,744| 1,248,071| 1,452,300
Carson. | 45,447| 3,606| 67,088| 45,665| 53,137
New Orleans. | 15,544| 4,840| 90,046| 11,167| 12,994
New York. |3,822,148| 764,676| 14,226,530| 3,005,812| 3,497,672
--------------+---------+----------+-----------+----------+----------
Total. |6,111,121| 1,329,631|$24,737,320| 4,864,152|$5,660,102
--------------+---------+----------+-----------+----------+----------
--------------+-----------
|
Mint or | Total
Assay Office. | value.
|
--------------+-----------
Philadelphia. | $4,188,911
San Francisco.| 8,261,044
Carson. | 120,225
New Orleans. | 103,040
New York. | 17,724,202
--------------+-----------
Total. |$30,397,422
--------------+-----------
Value in United States Money, of One Ounce Troy of Gold, at different
Degrees of Fineness.
500 Fine $10.33.6
510 ” 10.54.3
520 ” 10.74.9
530 ” 10.95.6
540 ” 11.16.3
550 ” 11.36.9
560 ” 11.57.6
570 ” 11.78.3
580 ” 11.99.
590 ” 12.19.6
600 ” 12.40.3
610 ” 12.61.
620 ” 12.81.7
630 ” 13.02.3
640 ” 13.23.
650 ” 13.43.7
660 ” 13.64.3
670 ” 13.85.
680 ” 14.05.7
690 ” 14.26.3
700 ” 14.47.
710 ” 14.67.7
720 ” 14.88.4
730 ” 15.09.4
740 ” 15.28.7
750 ” 15.50.4
760 ” 15.71.1
770 ” 15.91.7
780 ” 16.12.4
790 ” 16.33.1
800 ” 16.53.8
810 ” 16.74.4
820 ” 16.95.1
830 ” 17.15.8
840 ” 17.36.4
850 ” 17.57.1
860 ” 17.77.8
870 ” 17.98.4
880 ” 18.19.1
890 ” 18.39.8
900 ” 18.60.5
910 ” 18.81.1
920 ” 19.01.8
930 ” 19.22.5
940 ” 19.43.1
950 ” 19.63.8
960 ” 19.84.5
970 ” 20.05.2
980 ” 20.25.8
990 ” 20.46.5
1000 ” 20.67.2
--------------------
N. B.—When there is an intermediate degree of fineness, a short
calculation is necessary. For every one-thousandth, add 2.07 cents per
ounce for gold. Thus, one ounce of gold at 992 fine—$20.50.6
Comparison of Expressing the Fineness of Gold in Thousandths, and in
Carats.[29]
500 Fine 12.00 Carats
510 ” 12.08 ”
520 ” 12.15 ”
530 ” 12.23 ”
540 ” 12.31 ”
550 ” 13.07 ”
560 ” 13.14 ”
570 ” 13.22 ”
580 ” 13.29 ”
590 ” 14.05 ”
600 ” 14.13 ”
610 ” 14.20 ”
620 ” 14.28 ”
630 ” 15.04 ”
640 ” 15.11 ”
650 ” 15.19 ”
660 ” 15.27 ”
670 ” 16.03 ”
680 ” 16.10 ”
690 ” 16.18 ”
700 ” 16.25 ”
710 ” 17.01 ”
720 ” 17.09 ”
730 ” 17.17 ”
740 ” 17.24 ”
750 ” 18.00 ”
760 ” 18.08 ”
770 ” 18.15 ”
780 ” 18.23 ”
790 ” 18.31 ”
800 ” 19.07 ”
810 ” 19.14 ”
820 ” 19.22 ”
830 ” 19.29 ”
840 ” 20.05 ”
850 ” 20.13 ”
860 ” 20.20 ”
870 ” 20.28 ”
880 ” 21.04 ”
890 ” 21.11 ”
900 ” 21.19 ”
910 ” 21.27 ”
920 ” 22.02 ”
930 ” 22.10 ”
940 ” 22.18 ”
950 ” 22.25 ”
960 ” 23.01 ”
970 ” 23.09 ”
980 ” 23.17 ”
990 ” 23.24 ”
1000 ” 24.00 ”
--------------------
U. S. Mint Test for Gold and Silver.
The following is a test for determining whether coin is good or bad.
Use the liquids as near the edge of suspected coin as possible, as that
is the part most worn. A drop of the preparation will have no effect on
genuine coin, while it can be plainly seen on the counterfeit. Coins
should be scraped slightly before using:
TEST FOR GOLD.
Strong Nitric Acid (36°), 39 parts.
Muriatic Acid, 1 part.
Water, 20 parts.
TEST FOR SILVER.
24 grains Nitre of Silver.
30 drops Nitric Acid.
1 ounce Water.
The above tests should be taken in conjunction with _Diameter_,
_Thickness_, and _Weight_, the tests used at the Mint.
GLOSSARY.
_Terms used in treating of Bullion, Mints, Coinage, and Money._
ASSAYING.—Chemical analysis of metals or ores. This term is employed in
reference to mints and coinage, refers particularly to the process for
determining the component parts and relative proportions of a mixed alloy
of gold and silver, or the various alloys used for the manufacture of
minor coins.
REFINING.—Extract of base from precious metals; usually performed by the
aid of heat and oxidizing fluxes.
PARTING.—The separation of gold and silver when the two metals
compose an alloy, either native or artificial, for the purpose of
obtaining the metals, respectively, in the form of fine bars. This is
accomplished, first, by dissolving the silver with acids and subsequently
precipitating; or, second, by converting silver into chloride by heat and
chlorine gas, and then reducing the chloride to a metallic state.
ALLOYING.—Compounding two or more metals together in suitable or legal
proportions for coinage. Gold and silver are alloyed with copper for
standard coins, and alloys are variously made of nickel and copper, or of
copper, tin, and zinc for minor coins.
FINE BARS.—Gold and silver bars resulting from the operations of parting
and refining. Bars containing 99 per cent. of pure metal are generally
considered as fine bars.
UNPARTED BULLION.—Gold containing silver or silver containing gold which
has not been subjected to the parting operation.
AMALGAM.—Gold and silver extracted from ores or other substances by the
use of mercury and left in a porous or spongy condition, when the mercury
is removed by distillation.
FINENESS.—A term indicating the proportion of pure metal contained in a
piece of gold or silver. Fineness is expressed in thousandths; that is,
pure metal is 1000. United States coin is ⁹⁰⁰⁄₁₀₀₀ fine, or decimally
.900 fine. Fineness is estimated by jewelers and workers in the precious
metals by “carats,” pure metal being 24 carats. Thus 22 carats, the
British standard for gold coins, is ²²⁄₂₄, or decimally, 916⅔ fine.
DEPOSIT—MELTING.—The operation of melting a deposit of gold or silver
at the Mint to secure a homogeneity of metals, preliminary to taking a
sample for assaying.
REMEDY OF THE MINT.—The legal variation allowed from the fineness and
weight prescribed by law for the coins.