15. Alloy And Weight Of Coins

To render the gold and silver coins more durable they are hardened by adding a small quantity of copper, one tenth in weight. A gold dollar, which is the unit of value, weighs 25.8 grains, and the quantity of pure gold therein is 23.22 grains. Gold of this degree of fineness is known as standard gold.

A silver dollar weighs 412 1/2 grains, of which one tenth is copper. The quantity of pure silver contained in the piece is 371 1/4 grains. Silver nine tenths fine is therefore of standard fineness.

Silver in recent years has declined about half in value, yet silver coins are made of the same weight as before, and circulate just as readily at their former value. The reason is, the government is willing to receive and is able to redeem them as though there had been no decline in the value of silver; and so long as the government is willing and able to redeem them, individuals are safe in treating silver coins in the same manner.

16. Tolerance From Imperfection In Making And Wear Of Coins

It is quite impossible to make coins of the same denomination of the same precise weight, so the law permits a very slight deviation, and a still greater one from loss by abrasion. The most important reduction is in gold coins, which is one half of one per cent after a circulation of twenty years, and at a ratable proportion for any period less than twenty years..