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
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