Gold Dollars - How were they stored or transferred in quantity?

Quake17

Curious as to how the higher mintages were shipped out to banks? They weigh 1.7 grams so a thousand dollar bag would weigh in at 60 ounces or 3.75 pounds. Seems like a high value back in the day so maybe they did it by the hundred? They don't get the beatings of their silver dollar cousins but definitely acquire some marks. I assume the $2.5 and the $5 gold coins were transferred similarly since they circulated?

PerryHall

I'm guessing in canvas bags like other gold coins of that era. Not sure how many were in each bag or if there was even a standard bag size. $1000 face value bag makes sense.

Hemispherical

Before PM became a coin.

“Bullion Transport Boxes. From the mid-1800s to the early 1900s, these boxes were used to transport gold between the U.S. Mints and the Assay Office in the West. They were also used in the 1930s to ship gold bullion to Fort Knox. When filled, each box weighed nearly 400 pounds.”

https://www.coinnews.net/2013/08/30/public-tour-of-us-mint-at-philadelphia-photos-and-tips/

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I recall that that @RogerB posted something about the transportation of coins. Hopefully he can provide some answers.

ricko

Canvas bags most likely....cheapest method at the time. I am sure @RogerB has some information that will ascertain the method used. Cheers, RickO

thebeav

I've had little 500 dollar canvas bags before. Not stamped from the US Mint, but went bank to bank for sure.
Cute little bags, about the size of a file card.

RogerB

All gold was shipped in bags of $5,000. The US Mint had both a coin tolerance and a bag tolerance, so bags of US gold coins were uniform in weight and gold content. Gold was shipped in sealed and strapped boxes holding eight (8) tightly packed bags. Banks commonly broke down small denomination gold into smaller parcels. The Philadelphia Mint also accommodated large Post Offices by sending smaller amounts.

Quake17

Wow, thanks everyone! A great wealth of knowledge here!

CaptainBlunt

A little off topic Another small coin

I remember seeing a shipment of
$500 in half dimes via Wells Fargo
& Co. from the Philly mint to the
SF Branch Mint in April of 1862.

The shipment consisted of 1 Bag
containing 5 bags of half dimes
amounting to a total of $500

So $100 in half dimes per bag or
2,000 coins per bag. I don’t know if that was the normal bag size or amount per bag for these small coins

RogerB

Silver coins - Specifically Trade Dollars and Standard Silver Dollars relevant to you question - were counted and bagged in $1,000 units. Bags were stored flat and stacked on top of each other. For shipment, several bags were put in a sturdy box, sealed and sent by parcel post. If a bank ordered only 1,000, then the bag might be shipped inside a larger Post Office heavy canvas parcel bag.

Halves were handled the same way, except a bag held 2,000 coins ($1,000 face). Smaller coins were packed 2,000 per bag, but there was greater inconsistency than with large silver. Banks & POs usually got whatever amount they requested.

"Post Office
Rochester, N.Y.
September 7, 1836
Sir:
We find it impossible to keep supplied with change. What arrangement can be made by which we can be supplied with cents and five cent pieces? We have heretofore been in the habit of procuring between $200 & $300 annually in cents from our bank, but they now inform us they cannot furnish them. We presume the Mint will give a preference where they are necessarily connected with a public office.

Could a small keg of five cents be forwarded in the winter season with safety?
Yours respectfully,
John. B. Elwood, Post Master"

[RG104 entry 1 box 017 Oct 1836]

asheland

Cool thread.