When was it published?

January 14, 1763 in The New Hampshire Gazette

Foreign News January 14, 1763

The New Hampshire Gazette

Q: What keywords are associated?

Spanish Dollars, Mint Stamping, Currency Standards, Silver Prices, Coin Scarcity

Portsmouth, Rockingham County, New Hampshire

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What is this article about?

Report on Spanish dollars captured from the Hermione, to be minted and circulated at 4s. 9d., but their variable weights and standards may lead to export of heavier ones, leaving light ones and causing coin scarcity until silver prices drop to 5s. 5d. per ounce.

Clipping

OCR Quality

95% Excellent

Full Text

The report that the dollars, taken in the Hermione, are to be carried to the Mint to be stamped, and afterwards go current for 4s. 9d. if true, will probably be of little service to the public. We are informed, by persons who have had great opportunities of knowing, that the Spaniards are far from being exact either as to the standard or weight; and that their dollars are struck of different values, from 4s. 4d. to 4s. 9d. or 10d...So that if they are all stamped alike, the consequence will be, that all that will pay the charge will be melted or exported and the light ones only left. We are further informed that till the price of silver is reduced to 5s. 5d. per ounce, which is nearly our standard, it will ever tempt those who deal in silver to make free with our coin, and make a scarcity, however great the quantity coined.

What sub-type of article is it?

Economic

What keywords are associated?

Spanish Dollars Mint Stamping Currency Standards Silver Prices Coin Scarcity

Where did it happen?

Spain

Foreign News Details

Primary Location

Spain

Outcome

heavier dollars may be melted or exported, leaving light ones; potential coin scarcity due to high silver prices tempting dealers to manipulate currency.

Event Details

Dollars taken from the Hermione to be stamped at the Mint and circulated at 4s. 9d., but Spaniards' inexact standards result in variable weights from 4s. 4d. to 4s. 9d. or 10d.; uniform stamping may cause heavier ones to be exported or melted, leaving light ones; silver price above 5s. 5d. per ounce encourages coin scarcity.