Dollar Value of Gold Received by The Mint from Domestic Regions --1804-1832
JCH22
Posts: 219 ✭✭✭✭
Domestically produced gold was first received and used in coinage by the Mint in 1804. Between the years 1804-1823, the amount did not exceed $2500, and virtually all originated from North Carolina.
Domestic production, and receipt at the Mint exponentially increased between 1824-32: (expressed in dollars):
As of 1832, domestic gold production was estimated to be 1/6th the total of European and South American mines. Despite that increase, imports of $108,000 in foreign sourced gold were still necessary to complete the gold coinage struck in 1832.
Western deposits would soon change that….
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Comments
Interesting growth pattern
@JCH22: I’m remiss for not weighing in before this on your various historical posts. Keep ‘em coming - I thoroughly enjoy reading them!
“The thrill of the hunt never gets old”
PCGS Registry: Screaming Eagles
Copperindian
Retired sets: Soaring Eagles
Copperindian
Gold supply in the U.S. did not materialize into sufficient quantities until 1849 in California. That huge supply, which lasted for the better part of a decade before dwindling down, was the reason we created Double Eagle coins to get rid of the huge supply.