Mint of the United States
Philada. 15th. Jany. 1805.
I have the honor of enclosing my annual reports, as Director of the Mint, for the information of the President of the United States.
I am very respectfully Dear Sir your very obedt. hble. Servt.
(Signed) Elias Boudinot, Director
To the President of the United States
At the commencement of the year it is the duty of the Directory of the Mint to communicate to Government the state of the Mint, with its issues for the past year.
The issues of Silver Coins, notwithstanding the mercantile embarrassments, attending the importation of Bullion, have greatly exceeded that of the year 1803; and the advantage of a public Mint has been sensibly experienced, by the greatest part of the Deposits being issued in small Coins, which has been found very beneficial to the Citizens at large, under the late scarcity of Spanish Dollars, occasioned by the great exportation of them for mercantile purposes.
The quantity of Gold Bullion has been equal to that of the last reports, so that in the past year the Coinage of the precious Metals has amounted to Three hundred and Fifty eight thousand Nine hundred & Eighty three Dollars. The particulars will appear by the schedule No. 1 herewith, to which the Director begs leave to refer. It is worthy of the President’s attention, that about Eleven thousand Dollars of the Gold Coin, is the product of Virgin Gold found in the County of Cabarrus in the State of North Carolina, where it is said a very considerable quantity has been found since the last deposit, and will in all probability be forwarded to the Mint. It is to be regretted, that this Gold is melted into small ingots, before it is sent to the Mint for the convenience of carriage, but by which, there is reason to believe, a considerable proportion of it is wasted. It is also said, that the finest particles are neglected, and only the large grains & lumps sought after.
The increased price of Copper in Europe, and the quantity on hand, have been thought sufficient reason to confine the Coinage of Cents to one press; and from the last accounts from Europe, Copper is likely to be considerably increased in price, which will render the Coinage of Cents less profitable. The past year there have been issued Seven hundred & Fifty six thousand Eight hundred and thirty eight Cents, and one Million and fifty five thousand three hundred & twelve Half Cents, equal to Twelve thousand eight hundred and forty four Dollars and ninety four Cents, as appears by the same Schedule No. 1. The Amount of the Cost of Copper and Profit on the whole Coinage of Cents this year will be seen by Schedule No. 2.—The Coinage of the year amounts in the whole to the sum of Three hundred Seventy one thousand eight hundred and twenty seven dollars and ninety four Cents, and the number of pieces to Two Millions Forty six thousand eight hundred & thirty nine.
The expenses of the Mint for the past year will appear by Schedule No. 3. to be reduced to a trifle more than Sixteen thousand Dollars.
The Director thinks it his duty to mention to the President, that very considerable difficulty, as well as danger, may arise to the Public, from the Officers & Workmen of the Mint being exposed to be called out to attend Militia meetings or on attachments. When large deposits of the precious Metals are passing thro’ the Mint, and particularly when in fusion, it may be of the most dangerous consequence to have the Officers & Men called away, or be liable to fines for non-attendance. It is too important a trust to be thus exposed. The President in his wisdom will provide against this evil.
(Signed) Elias Boudinot—Director
Mint of the United States—
Philadelphia 1st. January 1805
An Abstract of the Expenditures of the Mint of the United States from the 1st. January to the 31st. December 1804.
|Quarter ending in||March||2,650||1,102.26||183.36||3,935||62|
Mint of the United States
Philada. 31st. Decr. 1804.
(signed) Benjn. Rush
An Abstract of the Coins struck at the Mint of the United States from the 1st. January to the 31st. December 1804.
|Dollars||half Dollars||Quartr Dlls.||Dismes||Dolls. Cents.||Totals|
|Silver||Quarter ending in March||19,570||19,570|
|of Silver Coins||Total amount of Silver Coins||100,340.||50|
|Eagles||half Eagles||Qtr Eagles|
|Gold||Quarter ending in March||22,822||114,110|
|43,597 Pieces of Gold Coins||9,795||30,475||3,327|
|Total amount of Gold Coins||258,642.||50|
|Copper||Quarter ending in March||160,000||379,000||3,495|
|1,812,150 Pieces of Copper Coins||756,838||1,055,312|
|Total Amount of Copper Coins||12,844.||94|
|Amount of Coins Struck at the Mint in 1804—Dollrs.||371,827.||94|
2,046,839 Pieces of Coins—
Mint of the United States
Philadelphia 31st. Decr. 1804.
(Signed) Benjn. Rush
Statement of the Gain on Copper coined at the Mint of the United States, from the 1st. January to the 31st. December 1804.
|Decr. 31||10,950.83||Amount remaining in the hands of|
|the Chief Coiner as per Abstract|
|1804||rendered, on which there was a profit of||2,029.10|
|Novm. 12||Deduct returned by him 51.92 in|
|spoiled Planchetts, allowed him for|
|diffe. in weight 173.97 on Copper|
|225.89||deld. 7. Novr. 1803.||225.89||1,803.||21|
|" 28||14,061.66.5||Amount of Invoice of Copper|
|entd. 31 Decr. 1803. & deld.|
|to the Chief Coiner, this day on|
|which there is a profit of||2,615.41.5|
|Decr. 31||11,941.66.5||Deduct so much yet remaining|
|in hands of the Chief Coiner,|
|uncoined, which will take a proportion|
|2,120||of above profit of||2,221.10.5||394.||31|
|Drs.||12,844.||94||Amt. of Copper coined in 1804|
|Amt. of profit in coining said sum||Drs.||2,197.||52|
DNA: RG 104--Records of the United States Mint.