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United States Mint.

[Corrected at the United States Mint, Philadelphia, November 1, 1862.]

1. The United States Mint is located in Philadelphia, and was established by the act of April | 2, 1792 (Stat. at Large, vol. i. p. 246). The first regular coinage of cents was in 1793; of silver coins, in 1794; and of gold coins, in 1795.

2. The officers of the mint are a Director, a Treasurer, an Assayer, a Melter and Refiner, a Chief Coiner, and an Engraver. These officers are appointed by the President of the United States, by and with the advice and consent of the Senate. (Act of Jan. 18, 1837, sect. 1. Stat. at Large, vol. v. p 136.)

3. The general duties of these officers are prescribed by the second section of the above-cited act. 4. Besides the principal mint, which is located at Philadelphia, the United States have branch mints at the following-named places: New Orleans, La.; Charlotte, N.C.; Dahlonega, Ga.; San Francisco, Cal.; and an Assay Office, for melting and refining gold and silver, at the city of New York.

5. The coinage of the several branch mints are designated by a letter on the reverse side of the pieces. Those struck at New Orleans have on the reverse the letter 0; Dahlonega, D; Charlotte, C; San Francisco, S. The coinage of the mint at Philadelphia may be known from the others by the absence of any letter-mark.

MINT OF THE UNITED STATES,

PHILADELPHIA, June, 1862.

As a general reply to inquiries respecting the terms on which gold bullion is received at the Mint for coinage, I have to state that gold is received in its various forms, whether native or manufactured, or in foreign coin; but it is expected to be free from the earthy matters in which it is naturally found. The ordinary rule is, not to receive a less quantity than will amount to one hundred dollars; and in no case should the weight be less than five ounces (Troy or Apothecaries' weight).

The bullion is to be sent or delivered to the treasurer of the Mint, who weighs it in the presence of the depositor or his agent, and gives a formal receipt therefor; which receipt, although it expresses no value, is a negotiable paper, and may be transferred by endorsement. The metal is then thoroughly mixed by melting. There is always an unavoidable loss in that operation. An assay is next made to determine the fineness, which is expressed in thousandth parts. When this is known, with the weight after melting, we have the data for calculating the value. The standard of valuation is, that 25 8-10 grains of gold, 900 thousandths (or nine-tenths) fine, are equal to one dollar; and whatever the fineness may be, it is brought to that standard by a calculation, and the value fixed accordingly. As we use ounces and hundredths of an ounce in weighing bullion, the simplest terms

of expression are 53.75 ounces, standard to 1000 dollars; or 43 to 800 dollars. This is the rate at which our gold coins are minted. But in receiving gold bullion, there are in some cases small charges for refining, toughening, &c., and for separating the silver, when that is requisite. There is also a uniform deduction of one-half of one per cent. for coinage.

Whenever silver is contained in gold bullion offered, the value of it is added to the value of the gold, provided it shall amount to one dollar and upwards, after deducting the cost of parting.

When the valuation is completed, which is usually on the day after the receipt of the bullion, a statement of the whole transaction is made by filling up a blank form, which is handed to the depositor or his agent, and the proceeds paid at the same time, if there are Treasury funds on hand, as is ordinarily the case; when there is not, there is a delay of a few days. At payment, the depositor (or his agent) surrenders the Mint receipt, with his endorsement, and keeps the statement.

The foregoing is applicable to cases of deposit for coinage: but the depositor has an option of having his gold cast into bars or ingots of either pure metal or of standard fineness, as he may prefer, with a stamp upon the same designating its weight and fineness; in which case he pays a charge of six cents per hundred dollars, instead of the one-half of one per cent. charged for coinage.

Gold from jewellers' shops, containing solder, is expected to be refined by fluxing with nitre before it is offered at the Mint.

The officers of the Mint cannot assume any agency for the owners of bullion, either in depositing the same, or in collecting and returning the proceeds. Parties at a distance who have no business connections in the city may avail themselves of the agency of any of the express companies.

The following are the regulations of the Mint in relation to the purchase of silver bullion for coinage, the receipt of copper cents of the United States (O. S.) in exchange for cents of the new issue, and the exchange of new cents for the gold and silver coins of the United States:

The Mint price of silver, heretofore 121 cents, is now raised to 122 cents per ounce of standard fineness. The silver offered for purchase will be weighed, melted, and assayed as usual, and the standard weight determined therefrom in ounces Troy to the one-hundredth part of an ounce. The receipt given at the first weighing must be presented by the seller, or his order.

This direction will apply to the Mint at Philadelphia and the Assay Office at New York.

The silver purchased for coinage will be paid for in the silver coins of the United States, of less denomination than the dollar.

SUMMARY EXHIBIT OF THE COINAGE OF THE MINT AND BRANCHES, TO THE CLOSE OF THE YEAR ENDING JUNE 30, 1862.

COINAGE OF THE MINT OF THE UNITED STATES, FROM 1792, INCLUDING THE COINAGE OF THE BRANCH MINTS FROM THE COMMENCEMENT OF THEIR OPERATIONS IN 1838, AND OF THE ASSAY OFFICE.