In what, until 1834, constituted a dollar of gold coin of United States mintage, there were put 2420 grains of pure gold; and 27 grains of the standard mint gold of that day were at that time worth $1. Twenty-seven grains of that gold, or gold of that standard, are now, by the present government standard of valuation, worth $1.06412. The standard for mint silver with this government until 1834, was 1485 parts pure silver and 179 parts pure copper, 8179 parts pure silver and 1 part pure copper. = The silver coins, therefore, struck at the United States mint prior to 1834, are 102 ounces fine. In that which, until 1834, constituted a dollar of silver coin of this government's mintage, there were put 3714 grains of pure silver; and 416 grains of the standard mint silver of that day were at that time of the value of $1. Four hundred and sixteen grains of that silver, or silver of that standard, are now, by the present government standard of valuation, worth $1.0744. The cent, until 1834, was of pure copper, and weighed 208 grains. The standard for mint gold with this government is now, and for all time since June, 1834, has been, 9 parts pure gold and one part alloy, the alloy to consist of silver and copper mixed, not exceeding one half silver. The gold coins, therefore, struck at the United States mint and dated subsequent to 1834, are 213 carats fine. The standard weight for these coins is 25 grains to the dollar; and in every 25 grains of these coins there are 23 grains of pure gold. The standard for mint silver with this government is now, and for all time since June, 1834, has been, 9 parts pure silver and 1 part pure copper. The silver coins, therefore, struck at the United States mint and dated subsequent to 1834, are 10 ounces fine. In what, from June, 1834, until February, 1853, constituted a dollar of silver coin of this government's mintage, there were put 3711 grains of pure silver; and 412 grains of the standard mint silver of that day (the present standard) were worth, from June, 1834, until February, 1853, $1. Four hundred twelve and one half grains of this standard of silver are now worth, by the present standard of valuation, $1.0742. The standard weight for silver coins with this government at present is 384 grains to the dollar. The cent is of pure copper, and its legal weight for all time since 1834, has been, as it is at present, 168 grains. The foregoing is not applicable to the three-cent pieces of United States mintage. These pieces were ordered by the Congress of 18501851, and an especial standard of purity was assigned them, viz., three parts silver and one part copper; their weight was fixed at 12 grains each, and their current value at three cents each. The law of 1853, regulating the currency, does not apply to these. They are now, as in 1851, legally the same. These pieces are worth, even now, less than their nominal values, compared with the present standard of purity and weight for other United States coins. They are worth, by this comparison, 2.863 cents each. In the preceding calculations, the alloy for gold, in each instance, was taken to consist of equal parts of silver and copper. The law, until 1834, provided that it should consist of silver and copper mixed, not exceeding one half copper;' and the present law provides that it shall consist of silver and copper mixed, not exceeding one half silver.' The metals used as alloys were taken at their values as money. Federal money was established by the Congress of the United States, in 1786. Boston, June, 1853. Alloy half each, silver and copper. Nine parts pure gold and one part alloy; or, 66 25 告 = = $0 03876. = $1.00. Nine parts pure silver and one part alloy; or, 10 oz. 16 dwts. fine 1 dwt. 384 grains = Standard Coin. 1 ounce = $1.00. The copper coins of the United States are the CENT and HALF CENT; they are of pure copper. The weight of the former is 168 grains, and that of the latter, 84 grains. TABLE,. Exhibiting the standard weight and present par value of the silver coins of the United States, of dates subsequent to 1834, and prior to 1853. = 4 Farthings 1 Penny, 12 Pence = 1 Shilling, 20 Shillings = 1 Pound. In Massachusetts, Connecticut, Rhode Island, New Hampshire, Vermont, Maine, Kentucky, Indiana, Illinois, Missouri, Virginia, Tennessee, Mississippi, Texas and Florida, 6 shillings = 1 dollar; $1 To £. = In New York, Ohio and Michigan, 8 shillings = 1 dollar; $1 = £. In New Jersey, Pennsylvania, Delaware and Maryland, 7 shillings and 6 pence = 1 dollar; 1 dollar 3 £. In North Carolina, 10 shillings = 1 dollar; $1 = § £. In South Carolina and Georgia, 4 shillings and 8 pence lar; $1 = = 30 $. The NOTE. These currencies, so called, are nominal at present in a great measure. denominations serve in the different States as verbal expressions of value. But they are neither the names of the moneys of account in any of the States, nor are they the national names of any of the real moneys in circulation. All values in money in the United States are legally expressed in dollars, cents, and mills. FOREIGN MONEYS OF ACCOUNT. The value in Federal money affixed to any particular denomination of a Foreign money of account in the following TABLES, is the United States Customs value of that denomination, as fixed by law and usage for computing duties. It is based upon the standard weight and purity of the coins coined especially to represent that denomination, compared with the standard weight and purity of the coins of the United States that represent the dollar, and is, as near as practicable, the intrinsic par thereof. The denomination itself, to which the Federal value is immediately affixed, is usually the unit or ultimate money of account of the country especially referred to. It is a money of account in that country always; but not always in that country the name of a national coin. It is not always, even, represented by a single national coin. Thus, in Great Britain, until comparatively recently, there was no single national coin of the value of one pound. That denomination is now represented by a single gold coin, called a sovereign. |