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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 5, 1963)
Coin By JOSEPH D. HUTNYAN United I'rcss International WASHINGTON (UPI) - Miss Eva B. Adams, director of the Mint, is the nation's No. 1 wor rywart about money. In recent years, she has grown fidgety about the worsen ing coin shortage, caused main ly by the advent of the vend- MEUKOHU MAIL TI'.lBUMi. A1KUFUKU. UU-tiON THURSDAY. DIXIJMIlbll 5. 1963 JJ J ortage Worries Director ff Mint ing machine era and aggravat ed by those who collect, hoard or destroy coins. Now, it seems, she has an other problem the melting down of nickles produced during World War II and selling of their silver content, which is worth about 7 cents. The keeper of the country's Accident Occurs On Unopened Freeway Oregon State Police reported a number of cars were reported in roadside ditches due to dense fog and icy pavements Tuesday night. TUMBLING TUMBLEWEED LOS ANGELES (UPD-That tumblewced rolling across the fields isn't just tumbling idly. Farm advisor Ralph LaRue says one plant of Russian this tle may spill as many as 24,700 seeds while it spins along. PORTLAND (UPI) - The Portland Development Commis sion was given a $1,442,305 grant by the federal government Tuesday. One of the worse accidents occurred on the unopened por tion of Interstate 5 when How ard Joe Brcazeale, 19, of 2954 Table Rock Road, drove his car into a road grader. Breazeale, stationed at Kings ley Field, Klamath Falls, was reported in fair condition at Rogue Valley Hospital while be ing treated for a dislocated hip. Another driver treated at Rogue Valley Hospital was George W. McCollum, 74, of Route 1. Box 473, Gold Hill, who received a lacerated chin when his car hit a guardrail at the Bear Creek Bridge on Inter state 5. He was released fol lowing treatment. coin supply said Uiat if the nickel melters don't slow down, nearly a billion 5-cent pieces minted during t h e war years could disappear in the next four or five months. She emphasized that it's not the principle of the thing it's the money. "We've searched the statutes and we can't find anything about this that is illegal," Miss Adams said. "But because of our critical coin shortage, it's definitely against the public in terest." The Mint produced about 870 million of the so-called "silver nickels" from 1942 through 1945. It's quite likely that a large number of them are still in ex istence or at least were un til recently. Mint technicians es timate the life of a single coin at between 15 and 20 years. Normally, the 5-cent piece has 56 per cent copper, 35 per cent nickel and 9 per cent man ganese. But during World War II when nickel was needed for warplane and other weapons the 35 per cent nickel content was replaced with the same amount of silver. Rising silver prices the highest in more than 40 years now has made the silver in the wartime nickel worth 7 cents. It also made nickel melting a profitable business for the firm with the proper equipment and manpower. Miss Adams admits that she doesn't know just how many of these nickels are disappearing daily from the coin stream. However, it is believed that two or three metal refining firms currently are gathering the wartime nickels and ex tracting their silver. Each of these would have to Klamath Falls Elks Give Band Concert WHITE CITY-The Elks band of Klamath Falls made their sixth consecutive annual visit dents, according to Paul C. Bethel, chief of recreation. The band was under the direc- to the Veterans Administration tion of Oscar Dcnault, esteemed Domiciliary last Thursday, and presented a lVj hour concert that was attended by an over flow crowd of member resi- LONG LABELS SAN FRANCISCO (UPI) If all of the foot labels printed each year in California were strung end to end, they would stretch more than one million miles, according to the Califor nia State Chamber of Commerce. loyal knight, who started the Droeram bv conducting Die band I in the "Washington Post March by Sousa. The mem bers heard band favorites, in cluding a tone poem by Moehl man, and a Victor Herbert spe cial by trumpeters Robert Chil cote, Dave Johanscn and James Metier. After a brief intermission, several marches and solos were played, with the program con cluding with Sousa's "Stars and Stripes Forever." be a fairly sizable operation, i Getting the silver out of a nick el is not exactly the kind of project that a do-it-your-selfer could handle in his basement. It requires rather sophistica ted industrial equipment and in volves a complicated refining process in which chemicals and electricity are used. Technicians in the mint also point out that in order to make a profit, a company would have lu melt down many thousands I of the nickels. Otherwise, the 1 2-cenl-per-coin profit would I evaporate in overhead costs. This means that a refining firm in order to make it worthwhile would have to employ a rather large team to search f o r these wartime nickels among the billions of coins that flow through the economy each day. No one knows exactly how they would go about carrying out this assignment. The best guess is that they would check banks or other financial institu tions or businesses which re ceive large amounts of coin from parking meters, vending machines or similar devices. Miss Adams is fearful that the publicity given the wartime nickel will add to her woes even if the companies melting them down decided to get out of the business. She said the fact that more persons are finding out that these 5-cent pieces have 7 cents worth of silver could cause large-scale hoarding. Actually, the volume of coins involved is very small com pared to the nation's total coin supply. The face value of all the sil ver nickels produced is about $40 million. This isn't a large figure in the current coin supply estimated at $7 billion. But Miss Adams, who pres ently is wondering how she is going to get enough coin in circulation to take care of Christmas shopping, is finding little consolation in the per centages. "It's a case," she said rather ruefully, "of every little bit hurting." W3 MAR 22 ,APR. 20 515-26-37 1751-40 81 -9d ,f TAURUS g. ap 2i ( MAY 21 ffl55 66 68-7 ffL;7677 84 851 STAR GAZR) OEMINI i MAY 22 J JUNE 23 r r 0 6-21 -32-a 53-76-83-8 CANCER JUNE 23 JULY 23 fVl-14-25-; ) 48-59-70 'f 'JULY'24 -V0-22-33-4d 54 -65-74 VIRGO AUG 24 SEPT. 22 Q) 7-19-30.41 -Uy CLAY R POLLAN- Your Daily Activity Guid According to ffit Slon. To develop message for Friday, read words corresponding to numbers of your Zodiac birth sign. 1 Ptomot 31 A 1 Protect 3? Hun.rt.es 6 Tactful 33 Morr,oge f3 0n 34 New eiTti P-oiecH 'iMa1tert 3h Te fif To 37 Partner tS7 And 38 Conrs is8 Interest 39 Vtow ttt People 40 To 70Othe LIBRA SEPT. 23 OCT. M 3-1 6-27-38 Tl 2 Mranqer 3 hi l low t Don't 5ioi 6 Trust 7 Return SFne 9 Atnerti 10 Romance 11 You 13 i-ot 1 3 Your 1 4 May 1 5 Carefully 16 A WLrl 18 Might l9t-ao.s 20 Emphowe 21 Your 22Coo't,l.p 23 Gaming 24 Favorite 25LorA 26 With SCORPIO NOV.M "V 1-13-24-35 146-58-69 41 Compliments 71 Resource! 42 New 4 Today 44 And 4?) Romonct 46 bee 47 To 4fl Svm;ntV' 4 Be 50 Irt-ppit 51 Or 52 G-ven 53 Try 54 Cultural 55 Deter 56 And 27 Conservative 57 Popularity 23 Resentment 58 Riohl 29 Tiy 59 Of til A,l Art. 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