Excerpt from Practical Banking Our silver coins are the silver dollar, half-dollar, quarter-dollar, and dime. The coinage ratio of silver and gold is sixteen to one, and the silver dollar there fore weighs grains. Our silver coins, like those made of gold, are alloyed with ten per cent. Of copper to give them the necessary hardness. The half dol lar, quarter dollar, and dime contain less than their proportionate weight of Silver, or are what is known as debased coins. The amount of this debasement is about seven per cent, ...
Read More
Excerpt from Practical Banking Our silver coins are the silver dollar, half-dollar, quarter-dollar, and dime. The coinage ratio of silver and gold is sixteen to one, and the silver dollar there fore weighs grains. Our silver coins, like those made of gold, are alloyed with ten per cent. Of copper to give them the necessary hardness. The half dol lar, quarter dollar, and dime contain less than their proportionate weight of Silver, or are what is known as debased coins. The amount of this debasement is about seven per cent, so that the half-dollar weighs the quarter-dollar and the dime grains. In 1853 the price of silver was so high that silver coins were worth more as bullion than as coin. As a result these coins were melted up or exported and the country was left without the necessary small coins with which to make change. TO prevent this destruction of our subsidiary coins, they were debased in 1853 by having the legal weight changed and less silver put in them. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at ... This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Read Less
Add this copy of Practical Banking (Classic Reprint) to cart. $24.36, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2018 by Forgotten Books.
