Democratic Sentinel, Volume 8, Number 23, Rensselaer, Jasper County, 4 July 1884 — The Wear of Coins. [ARTICLE]

The Wear of Coins.

It is estimated by the Treasury officials that if coin is in active circulation, or is frequently transferred in Treasury and customs transactions, a S2O gold pieoe should continue current for fifty years, an eagle for thirty-five years, a half eagle for twenty years, and* $3 and s2| pieces each fifteen years. Inasmuch as coin cannot continue in circulation even for a short period without some loss of weight by natural wear, Congress has established a margin of loss within which coins will be received at the Treasury at their nominal value. Section lof the act of 1873 provides: “That gold coins which have become reduced in weight by natural abrasion not more than one-half of one per centum below the standard weight after a period of circulation of twenty years, and a proportionate rate for a less period, shall' be received at their nominal value at the Treasury and its offices.” The standard weight of the double eagle is 516 grains, and the amount of abrasion allowed by law is 2 58-100 grains, thus leaving the least current weight 513 42-100 grains. The legal standard of the gold dollar is 25.8 grains. The legal deviation from standard weight of the dollar is onequarter of a grain; hence it will continue current until reduced below 25 53-100 grains. This margin allowed by law in the case of the gold dollar exceeds the legal limit of wear as applied to other coins by nearly one-eighth of a grain. All gold dollars coined since 1871 are within the legal tolerance if not fraudulently reduced in weight. All double eagles, if not artificially reduced, will be found within the limit of natural abr sion allowed by law. The same is true of all eagles coined since 1856, half-eagles coined since 1866 and quarter-eagles, or $2.50 pieces, if coined since 1871. The law provides no way by which uncurrent coins, either of gold or silver, may be redeemed at their real value. The only means at the disposal of the holder of these coins is to deposit the gold at the mint, where it Will be received at its bullion value and recoined into standard cons, the Government charging him the actual cost of coinage, or if he has mutilated silver coins he must sell them to the Government for what they are worth as bullion.— Philadelphia Record.