ALEXANDER HAMILTON'S REQUEST FOR COINS

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V21 2018 INDEX E-SYLUM ARCHIVE

The E-Sylum: Volume 21, Number 21, May 27, 2018, Article 22

A press release from Rago Auctions describes a 1793 letter from Alexander Hamilton to the Bank of the United States regarding copper for coinage. -Editor

Seldom does one get to handle a piece of American history as important as a document written by one of our Founding Fathers. But to have both a document written by Alexander Hamilton requesting $10,000 for copper to be struck as the first coinage in the United States, as well as several of the coins minted under this request in the same auction series is simply serendipitous.

Both the letter and the coins will be offered for sale at Rago Auctions on June 9. The letter, penned and signed by Alexander Hamilton, reads as follows:

For the purpose of obtaining a final settlement at the Treasury of the bills drawn on Amsterdam, I have this day issued a warrant on you in favor of the Treasurer of the United States for ten thousand dollars, being the amount of the bills furnished by you to the Director of the Mint. I have therefore to request that until an appropriation be made for the purpose (a circumstance which will shortly take place) you will be pleased to consider the said 10,000 dollars as an advance on account of the Mint. I have [illegible] a warrant to cover all your advances heretofore to that establishment [illegible] of two June for the purchase of copper which must also want an appropriation.

                                                                                    I have the honor to be,
                                                                                    With great respect, Gentlemen
                                                                                    Your Obed’ Servant.
                                                                                    Alex Hamilton

The Bank of the United States was created to assume the Revolutionary War debts of several states; pay off the war debts accumulated through the Revolution by the United States Government; raise money to operate the new government; and create a common currency. This correspondence from Alexander Hamilton to the President of the Bank of the United States was an effort to fulfill the last of these aims, the creation of a common currency. The deposit requested in this letter was provided to the Treasury Department of the United States for the purchase of copper on behalf of the United States Mint. The mint struck the first official coinage in March 3, 1793.

Printed catalogues will be available for $20 each by calling 609.397.9374 or e-mailing a request to info@ragoarts.com.

What a great piece of numismatic ephemera! The sale includes some lower grade 1793 cents as well. -Editor

Actually, the coinage of Chain cents began in February, as the first were delivered on March 1, and they didn’t strike any coins at all on March 3, which was a Sunday.

Hamilton is a hot property these days, so it should bring a pretty penny. Most would think that Hamilton, Secretary of the Treasury, wouldn’t have to ask so formally for money from the Mint, but the Mint was under the State Department at that time.