Communicated to the House of Representatives April 16, 1828.
Treasury Department, April 14, 1828.
Sir: I have the honor to transmit herewith a report, received at this Department, from the Director of the Mint, of assays of foreign coins made at that institution during the past year.
I have the honor to be, very respectfully, your obedient servant,
Hon. the Speaker, of the House of Representatives.
Mint of the United States, Philadelphia, December 31, 1827.
Sir: Comformably to general instructions from the Treasury Department, assays have been made of the foreign coins current by law in the United. States, and the result thereof is now respectfully submitted.
Foreign Gold Coins.
From the assayer’s report it appears that the gold coins of Great Britain contain 22 parts of fine gold in 24 parts; those of Portugal, 21 31-32 parts of fine gold in 24 parts; those of France, 21 11-16 parts of fine gold in 24 parts; and those of Spain, 20 15-16 parts of fine gold in 24 parts.
Standard gold of the United States contains 22 parts fine in 24 parts; and the eagle, of ten dollars, contains 270 grains of standard gold. The value per pennyweight of the gold coins of Great Britain, deduced from the present assay, will therefore be 88.89 cents; that of the gold coins of Portugal, 88.76 cents; that of the gold coins of France, 87.62 cents; and that of the gold coins of Spain, 84.59 cents.
In relation to the gold coins of Great Britain and Portugal, the above values correspond with the mean of former assays. In relation to those of France and Spain, this conformity is less exact; the deviation from it is not, however, of such moment as to disturb the ordinary estimate of their value founded on average results. By a careful investigation of the subject in 1826, the value of the gold coins of France was ascertained to be 87.37 cents per pennyweight, and that of the gold coins of Spain, 84.28 cents per pennyweight.
Foreign Silver Coins.
The Spanish milled dollar appears, from the assayer’s report, to contain 10 ounces 15 pennyweights 12 grains of fine silver in 12 ounces. Standard silver of the United States contains 10 ounces 14 pennyweights 4 5-13 grains of fine silver in 12 ounces; and the dollar of the United States contains 416 grains of standard silver. The value, therefore, of Spanish milled dollars, according to the present assay, will be 116 1-10 cents per ounce. Their ordinary value by tale may be estimated at 100 cents 3 mills.
The legal currency of the crowns of France and five franc pieces having ceased within the present year, those coins have not been considered as requiring a formal examination and report. It may be satisfactory, however, on the present occasion to remark that, according to the result of former assays, the value of the crowns of France is 117 7-10 cents per ounce, and that of the five franc pieces, 116 4-10 cents per ounce. The ordinary value by tale of the French crown may be estimated at 109 cents 3 mills, and that of the five franc piece at 93 cents 2 mills.
With great respect, your obedient servant,
Hon. Richard Rush, Secretary of the Treasury.