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By Richard Belair, John Read

Ask someone what they can tell you about the Royal Canadian Mint and most likely the first thing that they will mention, is coinage. The Royal Canadian Mint manufactures Canada's one-cent coins, nickels, dimes and quarters - over 1 billion per year. Most of these coins use copper and nickel as base material, and all of this metal is mined, refined and processed in Canada prior to being shipped to the mint for coin production. In 1985 alone, 1270 metric tons of Canadian nickel and 2160 metric tons of Canadian copper were absorbed in circulating coinage. July 1987 will have marked the introduction of Canada's new one dollar coin, an important new addition to Canada's monetary system. The first phase of this program will consume about 2,235 metric tons of Canadian nickel in the initial production run. Annual requirements in subsequent years are estimated at 225 metric tons. The Royal Canadian Mint is also a major producer of circulating coinage for foreign countries. Since the state-of-the-art Winnipeg plant swung into full production in 1976 the Mint has struck more than 5.2 billion coins for some 35 nations around the world. 1985 sales have increased almost 6 fold over 1984. 1987 already shows commitments for a further significant increase in volume in this business. The use of Canadian metals in export to foreign nations as coinage adds still more to the Royal Canadian Mint's key role as a major market maker for Canada's mining industry. The success of the Mint in this realm can be directly traced to it's 75 years as one of the world's most important refiners of gold. Today, the Royal Canadian Mint is the largest refiner of gold in the Western Hemisphere, and the third largest, by volume, in the world. The R.C.M. hallmark on kilo bars, 100 troy ounce comex bars

Jan 1, 1987

The principal source of funding the working capital requirements of gold miners has traditionally been equity. However in the 1980s, with a substantial increase in activity in the exploration for, and the production of, gold the traditional sources of equity finance became no longer sufficient to meet demand. With the often high cost of raising equity, the need for developing alternative financing structures became critical, especially since the stockmarket crash of 1987 which at least until recently, adversely affected the amount of equity capital available for investment in mining.

Jan 1, 1994

By George C. Stone

WHEN George C. Stone, a Director of the Institute, and so well known to our Members in connection with the Institute's many activities was abroad in 1.919, he secured an interesting collection of these coins, which appeared in Zinc, a publication by the New Jersey Zinc Co. Regarding this collection of coin, Mr. Stone says: "During the war, all gold and most of the silver disappeared, making small change very scarce. As the French Government was fully occupied by the war, it allowed various Chambers of Commerce and other bodies to issue money, both paper and coins. Many of the latter were made of zinc, and I secured several while in Paris. We had all heard of the Belgian and German zinc coins, but I imagine few knew how many different kinds there were. The accompanying plates show both sides of those I got. I took all that the dealer had; but he said that there were a number of others in existence. The coins in the bottom line were issued by the Germans in Belgium during the war and all are still in common use. The first two in the next to the bottom line are German. All of the others were issued by Chambers of Commerce or corporations. A few have been nickel plated; these look and wear much better than the others. "Coins" made of pasteboard were also issued by similar bodies, also notes.

Jan 1, 1920

By M. J. H. Ruscoe

"The circulation wear rates of pure nickel, cupronickel and nickel-plated-steel coins were measured and found to be in the ratio 1:3:1 . The relative wear rates of nickel and cupronickel coins were similar to those reported in earlier studies, and the circulation wear data for nickel were used as a reference in laboratory wear tests. A correlation between circulation wear rates and laboratory wear rates formed the basis for a prediction of service life using relief legibility as an 'end of life' criterion. This criterion was determined to be an average surface thickness loss of 12 um. The surf aces of nickel and Nickel-Banded-Steel (N-B-STM) coins were observed to harden both in circulation and in the laboratory tests at a rate of approximately I VHN/year of actual or simulated service life. It was also observed that the laboratory wear rate of N-B -S coins increased as nickel cladding thickness increased and this effect was attributed to differences in surface hardness.Wear test results are also reported for the new Canadian dollar coin material which shows a better wear resistance than pure nickel. IntroductionThe subject of coinage wear has a long history, and a number of studies have been published, concerned both with the measurement of circulation wear rates and with accelerated laboratory tests to simulate the behaviour of coinage materials in service. As early as 1803, wear tests were conducted by Hatchett on gold coinage using various types of vibratory and tumbling machines». These tests were commissioned by King George III of England who was concerned about the wear of gold coins in circulation.Early in this century, Adrian performed laboratory tests that showed that the wear rates of cupronickel 75/25 and nickel coins were in the ratio 3:1 and this ratio was later confirmed in laboratory tests reported by Daeppen and Zurrerw, The latter authors also weighed cupronickel and nickel coins that had been in circulation for various times and observed the same 3: I ratio. There was further support from Tylczak and Blickensderfer who reported significantly higher abrasive wear rates for cupronickel compared to nickel, when rubbed against sand paper."

Jan 1, 1988

By N. H. Emmons

In the United States the value of gold- and silver-ores is everywhere reckoned in ounces troy of the metal per " short ton " (2000 lbs. avoird.) of the ore. In the case of silver, which fluctuates in market value, the New York quotation on a given day must be known, in order to determine the gross value of an ore at that date. In Mexico the assay is reported 'in kilogrammes of silver or grammes of gold per metric ton. As everyone is aware, this is practically a percentage system, 1 kg. of silver per metric toll (1000 kg.) being 0.1 per cent., and 1 gramme of gold per metric ton, 0.0001 per cent. The notation is simple and convenient for both assayer and miner.* The Mexican government purchases at an unvarying price for silver, payable in silver, and at a fixed price for gold, payable in gold if the seller insists, but preferably in silver at about the rate of exchange between U. S. gold coin and Mesican silver coin. The value of silver is $40.915 per kilogramme in Mexican silver dollars. That of gold is $675.416 per kilogramme in gold coin. The mints do not, as a rule, issue gold dollars, as the government keeps them to pay the interest on the national debt. Almost all bullion containing a considerable percentage of gold is shipped to foreign countries (principally the United States) to be refined. The Mexican mint receives for refining and coining no bullion which is not at least .950 fine in gold and silver, separately or

Jan 1, 1902

By D. Robert Weir, M. J. H. Ruscoe, R. M. Berezowsky, M. A. Clegg

The metallurgical processing involved in the produc-tion of the new Canadian one dollar coin is reviewed starting with the hydrometallurgical production of pure nickel powder, followed by the powder metallurgy process for the production of nickel strip and coinage blanks, and concluding with the Aureate bronze electroplating and heat treatment procedure. Coinage requirements are then reviewed with regard to economic, public acceptance, and service requirements. Finally the properties of Aureate nickel coinage are presented in the light of the many and varied coinage requirements, and it is concluded that the new Canadian dollar coin exceeds the requirements admirably.

Jan 1, 1990

By Theodore H. Boggs

The battle of the gold standard is not limited to one country alone, or even to a single group of countries. It is being waged merrily in many important commercial and industrial quarters. Though it is not always a practical issue calling for immediate attention, it is none the less, quite widely, engaging the thought of bankers and other students of finance. The controversy arises, in the last analysis, because of the desire of men to secure a stable currency. There are two ways of restoring a reasonably stable currency system: (1) the re-establishment of the gold standard, or (2) the deliberate and artificial management of a paper currency. Both systems are well known. The gold standard was in use prior to the war in the principal commercial countries. A currency of inconvertible paper has been at times employed in the past in various countries; for example in Britain from 1797 to 1821, and in the United States from 1862 to 1879. The gold standard, as all are aware, implies the selection of gold as the standard of value. The unit of value is a fixed weight of gold and, so long as the standard remains unimpaired, all other means of payment are maintained at a parity with standard gold coins. And gold coins alone constitute the standard money, inasmuch as their value as bullion equals their value as coins. Under the gold standard this would not be true of any other form of money, although all other varieties of money, including bank notes, government notes and silver coins would be freely convertible into gold money. Strictly speaking, the gold standard also implies that the gold money in turn shall itself be freely convertible, through melting, into gold bullion and freely exportable.

Jan 1, 1925

By C. Travis Anderson

"Nickel is an essential metal in stainless steel, armor plate, and nickel steels and also in nonferrous alleys, such as monel metal and cupre-nickel, which are used in marine service. Nickel is one of the metals that must be greatly restricted in civilian use to provide the amounts needed for our War program. Consequently, it is desirable to investigate every possible substitute.The 5-cent coin no z in use contains 2.3 percent nickel. At the end of 1941, about 450 tons of nickel was being consumed annually to produce these coins. If the nickel used for that purpose in 9141 had been diverted to military use, 15,000 tons of armor plate could have been produced. As nickel is vitally needed for military as well as essential civilian products, it would seem desirable to substitute some other alloy for the 25 percent nickel alloy now being used. The Bureau of Mines has been asked to suggest possible substitutes.The substitute should have physical properties similar to the alloy now being used. It should have a metallic appearance and ring and a reasonably white color, so to be distinguishable from the present 1-cent coin. It should also be reasonably resistant to corrosion."

Aug 1, 1942

By F. R. Hensel

P. R. Kalischer.*—I should like to amplify a little one of the points made by Dr. Hensel, and rather violently disagree with him at the same time. He brought out the point that when the higher forming pressures are used on the green compacts there is a marked decrease in the density as sintered. We found that to be true and, of course, many of you notice that that is true with copper compacts also. But, in my opinion at least, it is not true that the expansion is due to entrapped air. We have vacuum-pressed both silver and copper compacts and obtained almost exactly the same numerical expansion as we secured by pressing in air. The powder, however, that is vacuum-annealed does show a slight decrease in expansion on sintering, but almost the entire increase on expansion can be overcome by very slow rates of heating. And it is our opinion that a majority of the expansion is due to dissolved oxygen in the discrete metal particles themselves rather than to entrapped gases. Another interesting observation that we have made is that often with silver or copper compacts it is desirable to silver solder or braze the compact into some part of a piece of equipment after completing powder metallurgical operations on it. If such a compact is sintered and coined, say a silver compact, given an initial forming pressure of 10 to 15 tons per square inch, and sintered, there is an adequate amount of shrinkage and it can be coined at about 50 or 60 tons per square inch and bring up the density nearly to theoretical. If, then, that compact is silver-soldered into some part of a fixture or a machine, it will expand very beautifully, and the only way that this can be overcome. as far as we know, has been to reanneal after the coining operation at a temperature higher than is to be used in any subsequent operation. In that way, a density very nearly theoretical can be achieved, but the coining operation cannot be carried to the excessively high pressures or expansion and bubbling of the compact will occur again.

Jan 1, 1945

By AIME AIME

BESIDES commanding increasing importance as an alloying element in combination with ferrous and other nonferrous metals, the variety of uses for pure nickel continues to widen. For coinage it is growing in popularity. These coins have been minted for 27 countries in 72 issues representing 69 denominations. Approximately 3,000,000,000 pieces have been struck, the aggregate weight, of which amounts to nearly 14,000 tons. . Danzig, Iraq and Japan are the most recent governments to adopt, pure nickel coinage. France is adding the denomination of five francs to its other nickel currency; they replace silver pieces. Germany is now minting a new issue of one Reichsmark coins of pure nickel. The Japanese program for 1933 called for the issue of 35,000,000 10-sen pieces and 30,000,000 5-sen pieces. In radio tube manufacture the consumption of pure nickel was approximately twice that of 1932. During 1.933 the nickel plating process by which bright deposits may be plated

Jan 1, 1934

By NEFE NONE

Possible New U.S. Half-Dollar. - Tile George Washington Commemorative Coin Act, H.R. 3133, was introduced in the House and approved by the House Banking Committee. It would allow the minting of at least 10 million commemorative silver half-dollars the size of the same coin produced before 1965. A companion bill, S. 1228, was introduced in the Senate. Taxes and the U.S. Minerals Industry. - The General Accounting Office completed a report to Congress on "Assessing the Impact of Federal and State Taxes On the Domestic Minerals Industry." the study presents a quantitative method to assess the effect of taxes on profitability, and suggests ways to use taxes or tax credits to help marginal mine operations and possibly to increase mineral production, Limited copies of the 139-page report are available free of charge from U.S. General Accounting Office, Documents Handling & Information Sevices Facility, P.O. Box 6015 Gaithersburg, Md. 20760.

Jan 1, 1981

Statistics is essentially a study of variability, the use of some suitable mathematical model representative of such variability, and the application of this inferred pattern of behaviour to practical problems. Probability theory is the mathematical structure devised for providing models for chance happenings. Perhaps the simplest example of a chance happening is the result obtained in tossing a coin. Although the result of a single toss can never be predicted with certainty, there is no reason why in repeated tosses the expectancy of heads and tails should not be equal. In such a case the outcomes of the experiment are said to be equally likely, so that the probability of obtaining heads (or tails) is 1 in 2, that is, 0,5. This simple probability .model refers to a 'mathematical' or 'unbiased' coin. Whether such probabilities are meaningful for actual coins tossed in any particular way is a matter for experience to determine. Probability models have also provided the basis for representing observed variability in cases where the actual under- lying probabilities are only partly known or defy analysis. A typical example of the latter case is the variability observed in the values obtained from gold or other ore samples. The interacting natural forces which gave rise to this variability are obviously very complex and are unlikely ever to be unravelled completely. In spite of this, probability theory and the more recent geostatistical theories have provided us with models which can represent this variability on a reasonable basis. Applied statistics and geostatistics must therefore never be accepted as exact mathematical sciences. Furthermore, a basic and essential concept is that in the type of applications covered in these notes, no model must ever be accepted as necessarily the final and exact answer to the problem; thus, any model must prove and continue to prove its appropriateness in practice, preferably by follow-up comparisons.

Jan 1, 1981

[JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Montieello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif.]

Jan 1, 1952

JAMES A. BARR Consulting Engineer Mt. Pleasant; Tennessee Washington, D.C. BEHRE DOLBEAR G COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4. N. Y. BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia LENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif.

Jan 1, 1952

JAMES A. BARR Consulting Engineer Mt. Pleasant. Tennessee Washington. D.C. BEHRE DOLBEAR G COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Callf.

Jan 1, 1952

Major Francis Hamilton Buchanan coined the term `laterite' (Latin; brick-rock) in 1807 for the red earths used for building blocks in southern India. Although these earths were actually weathered basalts, the term is now applied to weathering profiles developed upon a wide range of bedrocks. The Ni-laterites are a special class within the broad laterite family.

Jan 1, 1996

By Hellsten KJ, Butt CRM

Major Francis Hamilton Buchanan coined the term `laterite' (Latin; brick-rock) in 1807 for the red earths used for building blocks in southern India. Although these earths were actually weathered basalts, the term is now applied to weathering profiles developed upon a wide range of bedrocks. The Ni-laterites are a special class within the broad laterite family.

Jan 1, 1996

By I. M. Wolf, S. A. Usmar, L. A. Cornish

The limiting criterion in the use of stainless steel for certain forming operations such as coining is its hardness, which determines parameters such as required striking pressure, wear on dies, and integrity of pattern detail. Attention is given here to the development of ultra-soft ferritic stainless steels for coinage. In the first instance, the influence of carbon content on the striking properties of a series of commercial and experimental 17%Cr alloys was evaluated. It was found that a lower carbon content permitted the striking of relatively highly profiled and intricate patterns, provided that the hardness did not exceed 125 HV. Hardnesses as low as 115 HV were achieved in the fully annealed condition, but these alloys required high striking pressures. In a further study, three grades of experimental 14%Cr ferritic stainless steels were produced with a view to optimizing the ductility. When the residual impurities were minimized, hardness values of about 100 HV and lower were achieved. Micro-alloying additions allowed the heat-treatment response and grain size to be controlled. Excellent tensile properties, with elongations of up to 42 per cent, were achieved in the fuly annealed condition, and highly profiled patterns were produced in coining trials.

Jan 1, 1993

[JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington) D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif. COWIN & CO. Mining Engineers and Contractors Consulting Shaft & Slope Sinking Appraisal Mine Development Reports Mine Plant Construction I- 18th St. S. W. B'ham, Ala., Phone 56-5566]

Jan 1, 1952

By Roberto Antoniolli

"IntroductionSINCE ancient times, the precious metals have played an important role in influencing the course of history. Silver and gold happened to occur, although in small amounts, in those countries where the early civilizations developed. Their persistent brightness certainly amazed the primitive people, who also found it easy to shape them into ornaments •and implements. Ever since then their properties have made them seem desirable possessions.Use of precious metals as money was the natural consequence of man's desire for them. The possibility of changing an ornament into a tool or food at any time, and the ease with which such medium of exchange could be carried and hidden, further increased the demand for the two metals.Silver was probably discovered after gold and copper, and was undoubtedly found by prehistoric man as native silver. The oldest silver articles have been discovered in Chaldean tombs and date back to 5000 B.C. The earliest ascertained producers of silver were Asia Minor and the Iberian Peninsula. The Romans worked deposits in Spain, Britain, and France. In the Middle Ages, some silver was extracted from German deposits, and near the end of the Middle Ages systematic workings were carried on at Freiberg, Schneeberg, and Joachimsthal (1).Before the discovery of the New Continent, the Aztecs and Toltecs in Mexico, and the Incas in Peru, had made extensive use of silver. In the 16th century the Mexican deposits became the largest source of the world silver."

Jan 1, 1954