Coin

a piece of metal passing from hand to hand as money. Coin is also used in a collective sense for metallic money. An establishment in which coin is made is known as a mint. The study of coins is called numismatics. It has been the practice from antiquity to stamp coins with the portrait of some ruler or other person whom it is desired to honor. The side of the coin which contains the face or portrait is called the obverse; the other side is called the reverse. Our only knowledge of the features of Alexander the Great and other historical personages is derived from the obverse of ancient coins.

The collection and sale of old coins has become a business in itself. Dealers in the Old World cities fill their windows and showcases with trays containing a bewildering display of coins from all parts of the world. The ruins of ancient cities have been ransacked for specimens of coinage. It is surprising how many different coins have been found in China, Japan, India, Persia, Turkey, Egypt, and other seats of ancient civilization. Greek coins are found in the excavations of old temples and sites of former cities. Schliemann found coins in old Troy. Roman coins are found seemingly wherever the Romans pitched their camps. The ancient gold and silver coins are in a very fair state of preservation.

In the eyes of a dealer, the value of a coin depends on its age, rarity, and condition. The more a coin has been worn the less it is worth. A rare coin in poor condition is worth many times the price of a common coin in perfect condition. A few prices of American coins quoted from the catalog of a New York dealer may not be without interest: The twenty dollar gold piece of 1849 is quoted at $125; the ten dollar gold piece of 1798 at $25; the five dollar gold piece of 1822 at $200; the three dollar gold piece of 1875 at $30; the quarter eagle of 1826 at $20; the gold dollar of 1875 at $12; the silver dollar of 1794 at $50; the silver half dollar of 1797 at $40; the silver quarter of 1827 at $50; the silver twenty cent piece of 1877 at $1.50; the silver dime of 1804 at $6; the silver half dime of 1802 at $50; the silver three cent piece of 1873 at $0.60; the nickel five cent piece of 1877 at $1.25; the nickel three cent piece of 1877 at $1.10; the bronze two cent of 1873 at $0.75; the bronze cent of 1856 at $3; the copper cent of 1799 at $25; the copper half cent of 1796 at $25; the pine tree shilling of Massachusetts at $25; Lord Baltimore's penny of 1769 at $50; the Virginia shilling at $25; the Connecticut three pence of 1737 at $50; the New York gold doubloon of 1787 at $150; the Vermont half dollar at $125; the Kentucky halfpenny of 1796 at $10. Pieces coined by order of the Continental Congress vary in value from ten cents to thirty dollars. Auction sales of rare coins are even more interesting than book auctions. They are attended by eager purchasers. At a recent auction in New York City 561 pieces fetched $7,000. An American silver dollar of 1804 was bid in at $1,100. A twenty dollar gold piece of 1849 brought $150. A dollar of 1838 brought $150. Two half dollars brought $78 each. Seven half cents sold for a total of $304. At a recent sale a Chicago man paid $2,165 for an American ten dollar gold piece of 1822.

The members of a numismatic society in Chicago own a total of 350,000 coins. One member owns 65,000 pieces. The society includes many wealthy members. They design to center their collections finally in the Field Museum. The greatest collections of coins abroad are to be seen in the museums of Berlin and Paris. The books written on coins and coinage from a large library in themselves.

The coins issued from the United States Mint from 1792 to January 1, 1908, are the following:

GOLD COINS.

Double Eagles--Authorized March 3, 1849; weight, 516 grains; fineness, .900. Total amount coined to Jan. 1, 1908, $2,083,762,800. Full legal tender.

Eagles--Authorized April 2, 1792; weight, 270 grains; fineness .916 2/3; weight changed, act of June 28, 1834, to 258 grains; fineness changed, act of June 28, 1834, to .899225; fineness changed, act of Jan. 1837, to .900. Total amount coined to Jan. 1, 1908, $430,540,780. Full legal tender.

Half-Eagles--Authorized April 2, 1792; weight 135 grains; fineness, .916 2/3; weight changed, act of June 28, 1834, to 129 grains; fineness changed, act on June 28, 1834, to .899225; fineness changed, act of Jan. 8, 1837, to .900. Total amount coined to Jan. 1, 1908, $322,053,765. Full legal tender.

Quarter-Eagles--Authorized April 2, 1792; weight, 67.5 grains; fineness, .916 2/3; weight changed, act of June 28, 1834, to 64.5 grains; fineness changed, act of June 28, 1834, to .899225; fineness changed, act of Jan. 18, 1837, to .900. Total amount coined Jan. 1, 1908, $32,411,255. Full legal tender.

Three-Dollar Piece--Authorized Feb. 21, 1853; weight, 77.4 grains; fineness, .900; coinage discontinued, act of Sept. 26, 1890. Total amount coined, $1,619,376. Full legal tender.

One Dollar--Authorized March 3, 1849; weight, 25.8 grains; fineness, .900; coinage discontinued, act of Sept. 26, 1890. Total amount coined, $19,499,337. Full legal tender.

One Dollar, Louisiana Purchase Exposition--Authorized, June 28, 1902; weight, 25.8 grains; fineness, .900; total amount coined, $250,000.

One Dollar, Lewis and Clark Exposition--Total amount coined to Jan. 1, 1908, $60,069.

SILVER COINS.

Dollar--Authorized April 2, 1792; weight, 416 grains; fineness, .8924; weight changed, act of Jan. 18, 1837, to 412 1/2 grains; fineness changed, act of Jan. 18, 1837, to .900; coinage discontinued, act of Feb. 12, 1873. Total amount coined to Feb. 12, 1873, $8,031,238. Coinage re-authorized, act of Feb. 28, 1878. Coinage discontinued after July 1, 1891, except for certain purposes, act of July 14, 1890. Amount coined to Jan. 1, 1908, $578,303,848. Full legal tender except when otherwise provided in the contract.

Trade Dollar--Authorized Feb. 12, 1873; weight, 420 grains; fineness, .900; legal tender limited to $5, act of June 22, 1874, (rev. stat.); coinage limited to export demand and legal-tender quality repealed, joint resolution, July 22, 1876; coinage discontinued, act Feb. 19, 1887. Total amount coined, $35,965,924.

Lafayette Souvenir Dollar--Authorized by act of March 3, 1899; weight, 412 1/2 grains; fineness, .900; total amount coined, $50,000.

Half-Dollar--Authorized April 2, 1792; weight, 208 grains; fineness, .8924; weight changed, act of Jan. 18, 1837, to 206 1/4 grains; fineness changed, act of Jan. 18, 1873, to .900; weight changed, act of Feb. 21, 1853, to 192 grains; weight changed, act of Feb. 12, 1873, to 12 1/2 grams, or 192.9 grains. Total amount coined Jan. 1, 1908, $174,386,696.50. Legal tender, $10.

Columbian Half-Dollar--Authorized Aug. 5, 1892; weight, 192.9 grains; fineness, .900. Total amount coined, $2,500,000. Legal tender, $10.

Quarter-Dollar--Authorized April 2, 1792; weight, 104 grains; fineness, .8924; weight changed, act of Jan. 18, 1837, to 103 1/8 grains; fineness changed, act of Jan. 18, 1837, to .900; weight changed, act of Feb. 21, 1853, to 96 grains; weight changed, act of Feb. 12, 1873, to 6 1/4 grams, or 96.45 grains. Total amount coined to Jan. 1, 1908, $87,646,679.75. Legal tender, $10.

Columbian Quarter-Dollar--Authorized March 3, 1893; weight, 96.45 grains; fineness, .900. Total amount coined, $10,000. Legal tender, $10.

Twenty-Cent Piece--Authorized March 3, 1875; weight, 5 grams, or 77.16 grains; fineness, .900; coinage prohibited, act of May 2, 1878. Total amount coined, $271,000.

Dime--Authorized April 2, 1792; weight, 41.6 grains; fineness, .8924; weight changed, act of Jan. 18, 1837, to 41 1/4 grains; fineness changed, act of Jan. 18, 1837, to .900; weight changed, act of Feb. 21, 1853, to 38.4 grains; weight changed, act of Feb. 12, 1873, to 2 1/2 grams, or 38.58 grains. Total amount coined to Jan. 1, 1908, $55,927,628.10. Legal tender, $10.

Half Dime--Authorized April 2, 1792; weight, 20.8 grains; fineness, .8924; weight changed, act of Jan. 18, 1837, to 20 5/8 grains; fineness changed, act of Jan. 18, 1857, to .900; weight changed, act of Feb. 21, 1853, to 19.2 grains; coinage discontinued, act of Feb. 12, 1873. Total amount coined, $4,880,219.40.

Three-Cent Piece--Authorized March 3, 1851; weight, 12 3/8 grains; fineness, .750; weight changed, act of March 3, 1853, to 11.52 grains; fineness changed, act of March 3, 1853, to .900; coinage discontinued, act of Feb. 12, 1873. Total amount coined, $1,282,087.20.

MINOR COINS.

Five-Cent (Nickel)--Authorized May 16, 1866; weight, 77.16 grains, composed of 75 per cent copper and 25 per cent nickel. Total amount coined to Jan. 1, 1908, $29,558,578.20. Legal tender for $1, but reduced to 25 cents by act of Feb. 12, 1873.

Three-Cent (Nickel)--Authorized March 3, 1865; weight, 30 grains, composed of 75 per cent copper and 25 per cent nickel. Total amount coined, $941,349.48. Legal tender for 60 cents, but reduced to 25 cents by act of Feb. 12, 1873. Coinage discontinued, act of Sept. 26, 1890.

Two-Cent (Bronze)--Authorized April 22, 1864; weight, 96 grains, composed of 95 per cent copper and 5 per cent tin and zinc. Coinage discontinued, act of Feb. 12, 1873. Total amount coined, $912,020.

Cent (Copper)--Authorized April 2, 1792; weight, 264 grains; weight changed, act of Jan. 14, 1793; to 208 grains; weight changed by proclamation of the president, Jan. 26, 1796, in conformity with act of March 3, 1795, to 168 grains; coinage discontinued, act of Feb. 21, 1857. Total amount coined, $1,562,887.44.

Cent (Nickel)--Authorized Feb. 21, 1857; weight, 72 grains, composed of 88 per cent copper and 12 per cent nickel. Coinage discontinued, act of April 22, 1864. Total amount coined, $2,007,720.

Cent (Bronze)--Coinage authorized, act of April 22, 1864; weight, 48 grains, composed of 95 per cent copper and 5 per cent tin and zinc. Total amount coined to Jan. 1, 1908, $16,428,043.68. Legal tender, 25 cents.

Half-Cent (Copper)--Authorized April 2, 1792; weight, 132 grains; weight changed, act of Jan. 14, 1793, to 104 grains; weight changed by proclamation of the president, Jan. 26, 1796, in conformity with act of March 3, 1795 to 84 grains; coinage discontinued, act of Feb. 21, 1857. Total amount coined, $39,926.11.

SUMMARY.

Total coinage . . . . . $3,882,873,247.86

See Mint; Gold; Silver; Nickel; Money; Groat; Guinea; Mite; Penny; Pound; Dollar; Dime