15th Congress.
No. 520
1st Session.

THE MINT.

Communicated to the Senate, February 12, 1818.

Treasury Department, February 11, 1818.

Sir:

In obedience to the act entitled “An act regulating the currency within the United States of the gold coins of Great Britain, France, Portugal, and Spain, and the crowns of France and five-franc pieces,” passed 29th of April, 1816, I have the honor to transmit herewith a report of the director of the mint, giving the result of sundry assays made in pursuance of instructions from this Department.

I have the honor to be, very respectfully, sir, your most obedient servant,

WM. H. CRAWFORD.

The Hon. President of the Senate.

Mint of the United States, February 7, 1818.

Sir:

I have had the honor to receive your letter of the 20th ultimo, and, agreeably to your direction, have caused assays to be made of the several species of foreign gold and silver coins made current in the United States by an act of Congress passed the 29th of April, 1816. The result of the assayer’s report is as follows:

5 pieces of British gold coins of various dates,     very nearly QUALITY
car. grs.
5 pieces of British gold coins of various dates, 22 0
5 pieces of Portuguese do. do. very nearly 22 0
5 pieces of French do. do. 21 23/8
5 pieces of Spanish do. do. 20 31/4
oz. dwt. grs.
5 silver crowns of France, do. 10 18 12
5 five-franc pieces of France, do. 10 16 12

From the above report it appears,

  1. That the gold coins of Great Britain and Portugal being of the same quality with those of the United States, their intrinsic value will be at the rate of 100 cents for 27 grains, as regulated by law.
  2. That the intrinsic value of the gold coins of France will be at the rate of 100 cents for 27351/691 grains: i.e. one grain in 1257/11 dollars more than the weight by law, or one dollar in 3,455 more than their legal value.
  3. That the intrinsic value of the gold coins of Spain will be at the rate of 100 cents for 2860/111 grains: i.e. one grain in 242/3 dollars more than the weight by law, or one dollar in 703 more than their legal value.
  4. That the intrinsic value of silver French crowns will be 1177/10 cents per ounce, or one-tenth of a cent more than their legal value.
  5. That the intrinsic value of the silver five-franc pieces of France will be at the rate of 1166/10 cents per ounce, or 6/10 of a cent in the ounce more than their legal value.

It may however, sir, be observed, that, from long experience by the assayer of the mint, it is found that the quality of foreign coins, especially of silver, is somewhat variant, as will appear by comparing the above report with that of the last year. Their respective values, therefore, as regulated by the laws of 1816, are probably as near their average intrinsic value as can well be ascertained.

I have the honor to be, sir, with very great respect, your most obedient servant

ROBERT PATTERSON.

Hon. Wm. H. Crawford, Secretary of the Treasury.