Sunday, February 15, 2015

JR Newsletter: 15 February 2015 (228)



This week, the JR Newsletter brings LOTS of information to you.  For starters, we are fortunate to have David Finkelstein sharing his findings on topics from the early US Mint.

Silver & Gold Registers Of The First U. S. Mint
By David Finkelstein

In the 21st century, if someone needs additional recurring information in one of their business logs, the required number of columns would simply be added into their Excel spreadsheet.  In the 18th century, adding recurring information into an existing business log usually required the purchase of a new log book.  Whereas an Excel spreadsheet can have an unlimited number of columns, a paper log book is usually limited to the number of columns that could be handwritten on adjacent left and right pages.

The first U. S. Mint utilized multiple log books.  When similar log books are analyzed, different handwriting styles can be observed.  This indicates that some of the logs were maintained by different officers or clerks.  Although partially redundant, these logs most likely assisted in the quarterly balancing of the monies and precious metals that moved throughout the Mint on a daily basis.  Four similar log books that are stored at the National Archives and Records Administration in Philadelphia are as follows:

1.     The Register of Silver Deposits or “The Register of Certificates of the Standard Weight of Silver Bullion, Deposited For Coinage”,
2.     The Register of Silver Bullion or “The Register of Silver Bullion Received From Individuals and of Coins Paid at the Treasury of the Mint”,
3.     The Register of Gold Deposits or “The Register of Certificates of the Standard Weight of Gold Bullion, Deposited For Coinage”, and
4.     The Register of Gold Bullion or “The Register of Gold Bullion Received From Individuals and Coins Paid at the Treasury of the Mint”.

The Register of Silver Deposits and The Register of Gold Deposits are one page logs.   The Register of Silver Bullion and The Register of Gold Bullion are two page logs.  Each book is 13 inches wide and 18 inches high.  The columns in each book are as follows:

Column In Log Book
Register Silver Deposits
Register Silver Bullion
Register Gold Deposits
Register Gold Bullion
Date of Certificate
X     

X     

No. [probably Certificate #]
X     

X     

By Whom Deposited
X     
X     
X     
X     
Gross Weight (ozs, dwts, gr)
X     
X     
X     
X     
Standard Weight (ozs, dwts, gr)
X     
X     
X     
X     
Value (dollars, cts, m)
X    

X     

When Deposited
X     

X     

When Received

X     

X     
No. Receipt

X     

X     
Description of Bullion

X     

X     
Sums Paid, Including Discounts
(dollars, cts, m)

X    

X     
When Paid

X     

X     
Remarks

X     

X     

Figure 1 shows the entries in The Register of Gold Deposits for gold certificates 1 through 5.  Figures 2 and 3 show the corresponding entries in The Register of Gold Bullion.  Note that the Value and Sums Paid columns are in Dolls or Dollars, Cts. (or Cents) and m.  “m.” is the abbreviation for mil, mill or mille (depending on which country you live in).  1 mille equals 1/1000.  One cent equals 10/1000th of a dollar or 10 milles or 10 m.  A half cent equals 5/1000th of a dollar or 5 milles or 5 m.



Figure 1 - The Register of Gold Deposits – Certificates 1 – 5






Figure 2 - The Register of Gold Bullion – Receipts 1 – 5: (Left Page)



Figure 3 - The Register of Gold Bullion – Receipts 1 – 5: (Right Page)



Figure 4 shows an interesting entry made in the Register of Silver Deposits.  It is for silver certificate number 57, issued on June 19, 1797.  The deposit was valued at $300.00.  The depositor was Thomas Jefferson, Vice President of the United States.




Figure 4 - The Register of Silver Deposits – Thomas Jefferson



There were 5 major phases required for the conversion of silver or gold bullion into coins:
Deposit Bullion → Assay → Melt & Refine → Strike Coins → Return Coins

The four log books described in this article assist researchers in determining the endpoints of the timeline for each bullion deposit and coin return.  What about the phases that occurred in-between?  To be continued…
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Next, John Okerson wrote with an inquiry concerning early quarters:
 

I would like to find a conversion table for Early Quarter dollars from the numbering used by Robert Duphorne to the Browning standard in use today.  Duphorne published The Early Quarter Dollars of the United States in 1975.  Louis Scuderi wrote about him in 2005 in JRCS Volume 18 Issue #2 of June 2007.  Not long after that article both Steve Tompkins and Rory Rea and all published new books on the same series.

Duphorne’s book may not be mainstream but is available online currently at about $20.

Anyone having this information is requested to share it with johnokerson(at)gmail.com or participate in correlating the data in the books.

John
------

Don Stoebner asked a question:

Why no participation at this upcoming EAC? I was told by an officer of EAC that this was not decided by EAC. The joint meeting and information sharing seemed to work rather well.I feel that the members of JRCS should be given a good answer for this change.

Don S
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Readers will likely recall that Rich Uhrich wrote to us recently to tell about an 1838-O half dollar that he purchased for inventory and is offering on his website ( Rich Uhrich Half Dollars ).  Kevin Flynn wrote to announce a book on the topic of 1838-O half dollars:



The 1838-O Half Dollar, An Alignment of the Stars, by Kevin Flynn and John Dannreuther is now available. 8-1/2 by 11, 100 pages, softcover only.  The following is a summation of this incredible variety.

To meet the increasing demand for coinage for commerce, Congress authorized three new mints in 1835.  One of the chosen locations was in New Orleans, a city strategically located on the Mississippi River that would help in disbursing coinage throughout the south and west.  The Philadelphia Mint supplied equipment vital to coinage production such as three steam powered coining presses, each of a different size.  David Bradford was hired as the Superintendent of the New Orleans Mint with Tyler Rufus employed as the Coiner.  Robert M. Patterson was the Director of the Mint from 1835 through 1851. 

The New Orleans Mint opened in 1838 and in anticipation of commencing coin production, on February 14th, Tyler requested working dies for the silver half-dime, dime, and half dollar.  Between April 9th and 11th, two sets of 1838 dated half-dime, dime, and half dollar working dies were sent from Philadelphia to New Orleans.  All working dies sent were shipped in a softened state, and required hardening and polishing at the New Orleans Mint.  For the two sets of half dollar working dies sent, one set had a false border while the other did not.  Both half dollar working dies required being put through a lathe at the New Orleans Mint.  Director Patterson was very conscientious about theft of these working dies and their illegal use to strike coins.  All of these working dies were in a state that they could not have been used by the Philadelphia Mint prior to shipping to strike coins at the Philadelphia Mint.  These dies were not sent to New Orleans especially prepared or intended to strike proof coins or to test the design or alloy.  As stated by Patterson, these working dies were the same used in Philadelphia except for a mint mark added.

On May 8th, 1838, Tyler struck thirty dimes on the small coining press before having mechanical problems.  One specimen was sent to Director Patterson, ten were put in a cornerstone of a new building, with the remainder being given out as mementos.  Additional dimes were struck up through July 1838.  Between August 2nd and November 1st, the New Orleans Mint was closed because of yellow fever.  Dimes and half-dimes were struck in December and the beginning of January 1839. 

On January 17th, 1839, Director Patterson stated that no time should be lost in getting ready for the coinage of the half dollars.  Between January 17th and the end of January, Tyler was able to get the large coining press into operation to be used for the half dollars. Tyler found that the half dollar working dies were too short to be held in place by the screws.  In order to test the large coining press, he built a support system to raise the bottom working die to reach the screws.  He was able to strike ten "excellent impressions" from a single set of 1838 dated half dollar working dies before the support system was crushed.  The time frame in which these ten 1838-O half dollars were struck is based upon a letters from Rufus Tyler on February 25th and Superintendent Bradford on March 7th.  Bradford stated in his letter that Tyler had struck a few half dollars in the middle of January on the large press.  No 1838-O half dollars were submitted to Philadelphia for the annual assay sent on January 17, 1839.  The fields of these ten coins exhibit a brilliant surface texture expected from a new pair of working dies.  The striking characteristics of the design elements and rims are very strong. 

Between February 26 and March 12, 1839, three pairs of 1839 dated half dollar dies were sent to the New Orleans Mint.  Two sets of these arrived on March 16th.  On March 29th, Superintendent Bradford stated that Tyler was able to get the half dollar coining press into operation and commenced striking half dollars on March 27th.  The reverse used for the 1838-O half dollars in late January 1839 was moved from the large coining press to the half dollar coining press and used to strike 1839-O half dollars.  This reverse is found on ninety percent of the known 1839-O half dollars.

The key to a second striking was found in the 1838-O half dollar in the Smithsonian Institution collection.  This specimen exhibited the latest die stage of any of the nine known 1838-O half dollars.  The fields on the reverse display mirrored surfaces equal to the 1838 proof half dollar at the Smithsonian.  The striking characteristics of this coin were also stronger than the 1838 proof half dollar.  There are several 1839-O half dollars that have been categorized as proof coins.  Two or three of these coins exhibited diagnostics that were later than any of the first eight known specimens, but earlier than the 1838-O Smithsonian specimen.  The 1838-O Smithsonian half dollar also has stronger striking characteristics than the 1839-O half dollars that are called proofs.  A conclusion can be made that in late March 1839, Tyler was able to get the half dollar coining press into operation.  He first used an 1839 dated obverse with the reverse used for the 1838-O half dollars and struck several half dollars.  Tyler then replaced the obverse with the 1838-O half dollar working die, increasing the striking pressure and struck one or more 1838-O half dollars.  He then continued to strike 1839-O half dollars.

The two 1838-O half dollar working die obverses were defaced on June 13, 1839.  A note allegedly from Rufus Tyler published in 1894 stated a specimen was given to Alexander Bache and that not more than twenty specimens were struck.  Nine 1838-O half dollars are known to exist today, including one in the Smithsonian Institution collection.  Most likely, eleven to fifteen 1838-O half dollars were struck with only one specimen known from the second striking.  The 1838-O Smithsonian half dollar should be classified as a proof, whereas the remaining coins should be classified as specimen coins.

Price for the softcover is $29.95. To order, send a check or money order to Kevin Flynn, P.O. Box 396 , Lumberton , NJ 08048Please include $5 for media shipping or $10 for first class shipping.  Please email me at kevinjflynn88(at)yahoo.com to reserve a copy.  See other books available at www.kevinjflynn.com