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Carson City Mint Photograph Pair: 1890s Workers & 1930s Mining the Grounds! [197500]

Currency:USD Category:Coins & Paper Money / US Coins - Mint Sets Start Price:150.00 USD Estimated At:300.00 - 600.00 USD
Carson City Mint Photograph Pair: 1890s Workers & 1930s Mining the Grounds! [197500]
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Lot of 2 exceptionally rare views of operations at the Carson City Mint. We just don't see many photos besides exterior building shots. And both of these photos have great stories behind them! 1) Unpublished 1933 view of two miners working the grounds of the Mint! Operations at the Mint ended in the 1890s, when it transformed into a US Assay Office. After this office closed in 1928, there were efforts to get the State to buy the building. It was even proposed to turn the building into a federal prison. But in 1933, bids were accepted for people to "mine" the grounds. Years of sweeping the floors, ashes from the furnaces, and broken graphite crucibles were thrown into the yard. The waste products of the Mint actually left behind precious metals. Robert Shiroda was the winning bidder (at $190), and our photo shows him and one of his workers with a sluice box in the Mint yard. He would ground the broken crucibles down with an emory wheel and then extract gold from there. He operated the site with four miners for four months. The photo is 6.5 x 8.5", a copy from International News Photos Inc. Dated Oct. 15, 1933. Newspaper clipping attached to reverse. Fabulous and unique! 2) 4 x 5" photo showing 6 workers posing outside. Identified in pen as US Mint 1892 Carson Nev. Appears to have been taken out of an album. In 1892, about two years into a deep precious metals depression that saw a drastic reduction in silver price internationally, a scandal was underway at the Carson City Mint. An internal audit appeared to show a serious shortage in bullion and a non-corresponding bullion/cash balance (to put it simply). Gold and silver bullion was missing. After an approximate two year investigation, it was found copper was implanted into bullion bars to replace stolen gold. In addition, the record keeper never accounted for the seniorage ñ the difference in price between the actual value of the silver in the coin, versus the price of silver per ounce at purchase. Seniorage had become a very clever way for the government to make money on coinage. If the silver market was weak, say 60 cents per ounce, and the silver dollar only had 0.77 troy ounces of silver in the single coin, then the dollar coin was only worth 0.77 x .60, or 46.2 cents. Yet Congress said it was supposed to be $1.00 worth of silver in the dollar coin. In short, the Government had only 46.2 cents (plus production costs) in every dollar. That's a nice little profit. But the Carson City Branch Mint record keeper "forgot" to make the calculations, and supposedly pocketed the difference. Unfortunately, three of the accused died shortly afterward; one died under suspicious circumstances almost immediately. Were any of those three these workers in this picture? That scandal, accompanied by the weak silver market and the demonetization of silver put a nail and a screw into the Carson City Mint's coffin.
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Date: 1892-1933
Country (if not USA):
State: Nevada
City: Carson City
Provenance: Fred Weinberg Numismatic Ephemera Collection