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GOLD AND SILVER.
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per
fine ounce. The amount of silver purchased for the silver-dollar
coinage was 24,797,279 fine ounces, costing $24,221,257; the average
cost to the Government being $0.9768 per ounce fine.
Coinage of the mints during the calendar year 1887.
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In
addition to the large coinage of silver dollars by the United States a
very large coinage of full legal-tender silver coins was executed at
the mints of Mexico, India, and Japan, and some at the Austrian mints.
Eeports
of the coinages executed by the mints of the world show that the
coinage of the world during the calendar years 1884, 1885, 1886, and
1887 was as follows:
The world's coinage from 1884 to 1887.
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This includes recoinages, which were not less in value than $10,000,000 in gold and $15,000,000 in silver in 1886.
An
inquiry as to the value of the gold and silver used in the industrial
arts in the Uuited States during the year 18S7 shows a consumption of
gold of $11,672,600, and of silver $5,241,998; total, $16,914,604.
IncludÂing the melting down of United States gold coin, the Director of
the Mint estimates the value of the gold used in the United States in
the industrial arts during 1887 at about $14,600,000, and of silver
$5,280,000. This is an increase over the consumption of prior years.
The
reported consumption of gold in the industrial arts in the world was in
1886 approximately—gold, $46,000,000; silver, $22,000,000.
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