PROFITS OF SILVER COINAGE.

Press, Volume XLIX, Issue 14583, 6 February 1913, Page 6

PROFITS OF SILVER COINAGE.

In n coinage case at Melbourne lasfc week Jud_e Rentotil elicited from \ Mint official the fact that a crown picco costs tho Mint eighteennence to uiaW leaving 3s f>d_ profit. The London con respondent of the "Scotsman" recalls that Lord Gosehen. when Chancellor of the Exchequer and Master of tho Mint was keenly _ alive to opportunities of profit in this field. He directed that dockyard men on weekly w.i«es of le® than £2 should be paid in silver. which is just as convenient to the men as gold and sai-es money to the Mint. Sires' pays tho Mint well. Every sliiflW means nearly threepence profit,. I'm exact metal value being O.fSd —7.5 parts of_ the coin a ra copper. Sixty-six new shiliirgj weigh ono pound troy, five shtb lings and sixpence weigh one ottneo,"atyl there is the trifling cost of minting.to be added. Bronze coinage is also most profitable, which accounts for tho'jicT. emntory stopping of a recent incursion of-French bronze. Every ton of pennies gives a Mint profit of £352.