I retrieved a copy this week of Pennsylvania History, published by Pennsylvania Historical Association, July 1951. It contained an article on Franklin Peale and his two-year trip to Europe. His instructions were to learn the technology of European mints with the goal of implementing this technology in the 40-year old Philadelphia Mint.

We learn that in 1833 Mint Director Samuel Moore, with this trip in mind, had hired Peale who had extensive mechanical knowledge. Moore got the approval of Treasury Secretary Louis McLane later that year. McLane authorized the payment to Peale for the trip expenses.

The amount was $7,000. That’s $196,000 in today’s money!

Interesting the Treasury will spend many times that amount now days to consultants to learn there is no metal substitute for copper in cents, or that that steel is not a satisfactory coinage composition for quarters. America got better value for their money to Peale in 1833 than what they spend today.