The Numismatic Bibliomania Society

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V12 2009 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 12, Number 16, April 19, 2009, Article 10

QUERY - WHAT IS THE GREAT DEPRECIATION?

Last week Dan Owens submitted an item related to the famous counterstamps of druggist J. L. Polhemus. The following appeared in the San Francisco Bulletin on May 29th, 1859:

Polhemus Five Francs obv
Some months ago, it will be remembered, says the Sacramento Bee, considerable outcry was made because J.L. Polhemus, (a druggist in its city) stamped with his store-mark all pieces of foreign coin that came into his hands.

Since then the coin has greatly depreciated, and it is said that a cunning financier in Sacramento, is, and has been, engaged for some time in collecting all francs and forty-cent pieces containing the Polhemus stamp, intending to make him redeem them at the rate they were current at when he put his endorsement upon them;


Tom DeLorey writes:
I am curious about the "great depreciat(ion)" mentioned in the article. Could this be a reference to the Mint Act of 1857, which caused foreign coins to cease to be Legal Tender in the United States?


Good question, and a very reasonable answer. Thoughts, readers? -Editor




Wayne Homren, Editor

Google
 
NBS (coinbooks.org) Web

The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V12 2009 INDEX       E-SYLUM ARCHIVE

Copyright © 1998 - 2012 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.

NBS Home Page
Contact the NBS webmaster
coin