- S. Luriºus vsº ANNUAL REPORT Of the Director of the N/int for the fiscal year ended June 30, 1970. ANNUAL REPORT of the Director of the Mint for the fiscal year ended June 30 1970 DEPARTMENT OF THE TREASURY DOCUMENT NO. 3253 Director of the Mint U.S. GOVERNMENT PRINTING OFFICE WASHINGTON : 1971 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402 - Price $1 (paper cover) Stock Number 4805–0009 LETTER OF TRANSMITTAL DEPARTMENT OF THE TREASURY, BUREAU OF THE MINT, Washington, D.C., April 29, 1971. SIR: I have the honor to submit the Ninety-eighth Annual Report of the Director of the Mint, since the Mint became a Bureau within the Department of the Treasury in 1873. Annual reports of Mint activities have been made to the Secretary of the Treasury since 1835, pursuant to the act of March 3, 1835 (4 Stat. 774). Annual reports of the Mint have been made since it was established in 1792. This report is submitted in compliance with Section 345 of the Revised Statutes of the United States, 2d Edition (1878), 31 U.S.C. 253. It includes a review of the operations of the mints, assay offices, and the bullion depositories for the fiscal year ended June 30, 1970. Also contained in this edition are reports for the calendar year 1969 on U.S. gold, silver, and coinage metal production and the world's monetary stocks of gold, silver, and coins. MARY BROOKs, Director of the Mint. Hon. JoHN B. Con NALLY, Secretary of the Treasury. III CONTENTS MINT OPERATIONS, FISCAL YEAR 1970 Coinage activities-------------------------------------------------- Medals----------------------------------------------------------- Gold and silver---------------------------------------------------- Financial operations----------------------------------------------- Management improvement----------------------------------------- U.S. Mint representation at foreign events--- - - - - - - - - - - - - - - - - - - - - - - - - - Joint Commission on the Coinage.----------------------------------- TABLES 19 U.S. coins manufactured, fiscal year 1970 - - - - - - - - - - - - - - - - - - - - - - - - - . Subsidiary clad coins manufactured under Coinage Act of 1965, 1965– June 1970--------------------------------------------------- 20 21 . Production of Kennedy half dollars, fiscal years 1964–70- - - - - - - - - - - - : . Consumption of metals in the manufacture of U.S. coins, fiscal year 1970-------------------------------------------------------- 21 . Specifications, metallic composition, and designs of U.S. coins currently manufactured.----------------------------------------------- 22 . Shipments by the Mint of newly manufactured U.S. coins for general 23 circulation, fiscal years 1968, 1969, and 1970--- - - - - - - - - - - - - - - - - - - . Location of U.S. fractional coins on selected dates, June 1967–June 1970-------------------------------------------------------- 23 . Summary of uncurrent U.S. coins withdrawn from circulation, fiscal years 1969 and 1970------------------------------------------ 24 . Silver recovered from melting U.S. silver coins, monthly March 1968– June 1970--------------------------------------------------- 24 . Medals produced by the Philadelphia Mint, fiscal years 1968–70 - - - - - 29 . Foreign coins and blanks manufactured by U.S. mints, fiscal year 1970-- . Gold and silver bullion deposits and assay determinations, fiscal year 1970-------------------------------------------------------- 31 . Gold transactions of the Bureau of the Mint (in fine ounces), fiscal year 1970-------------------------------------------------------- 31 . Gold transactions of the Bureau of the Mint (value at $35 per fine ounce), fiscal yearſ 1970--------------------------------------- 32 . Summary of silver receipts, issues, and balances of the Bureau of the Mint, fiscal years 1934-69------------------------------------- 33 65439 . Summary of silver receipts, issues, and balances of the Bureau of the Mint, fiscal years 1934–70------------------------------------- 34 30 . Silver bullion transactions of the Bureau of the Mint, fiscal year 1970--- | : . Deliveries of Treasury silver sold by the General Services Administra tion, fiscal years 1968–70-------------------------------------- . Monetary metals operated on and operating gains and losses of the mints and assay offices, fiscal year 1970------------------------- 37 . Refined gold and silver produced by the electrolytic process at the New York Assay Office, fiscal year 1970, by months--- - - - - - - - - - - - - - - - - 38 . Stocks of unrefined gold and silver bullion held at the mints and assay offices, June 30, 1970----------------------------------------- 38 . Detail of revenues deposited into the general fund of the Treasury by 39 the Bureau of the Mint, fiscal year 1970- - - - - - - - - - - - - - - - - - - - - - - - . Analysis of monetery assets and liabilities of the Bureau of the Mint, June 30, 1970------------------------------------------------ 40 41 . Number of employees of the Bureau of the Mint, fiscal year 1970 - - - - V CONTENTS Page 25. U.S. coins manufactured, calendar year 1969---------------------- 42 26. of metals in the manufacture of U.S. coins, calendar year Cºption1969-------------------------------------------------------- 43 27. coins and blanks manufactured by U.S. mints, calendar year Fº1969-------------------------------------------------------- 44 28. Summary of foreign coinage by the U.S. mints, by country, through December 31, 1969–------------------------------------------ 46 29. Summary of foreign coinage by the U.S. mints, by calendar year, through December 31, 1969- - - - ------------------------------- 46 30. Gold transactions of the Bureau of the Mint (in fine ounces), calendar year 1969--------------------------------------------------- 47 31. Gold transactions of the Bureau of the Mint (value at $35 per fine ounce), calendar year 1969------------------------------------ 48 32. Silver bullion transactions of the Bureau of the Mint, calendar year 1969-------------------------------------------------------- 49 33. Analysis of monetary assets and liabilities of the Bureau of the Mint, December 31, 1969------------------------------------------- 50 EXHIBITS . White House announcement, February 4, 1970, concerning appoint ment of members to the Annual Assay Commission - - - - - - - - - - - - - - 53 . Statement by Assistant Secretary of the Treasury Rossides, Decem ber 23, 1969, on coin production at new Philadelphia Mint.-------- 54 . Statement by Assistant Secretary of the Treasury Rossides, June 18, 1970, on weekly sales of silver through GSA -- - - - - - - - - - - - - - - - - - - - 54 . Press release, April 6, 1970, announcing meeting of the Joint Commis sion on the Coinage------------------------------------------ 55 . Press release, May 13, 1970, announcing action of the Joint Commis sion on the Coinage on the Eisenhower dollar-------------------- 56 . Press release, January 16, 1970, on Mint Director's presentation of awards to two Mint officials for unusual inventions--------------- 56 . Press release, February 2, 1970, announcing Honor Award to Denver Mint for record 1969 coin production--------------------------- 57 Press release, March 23, 1970, announcing Honor Award to San Fran cisco Assay Office for efficient processing of 1970 proof coin set orders------------------------------------------------------ 57 . Amendments to the gold regulations, April 20, 1970---------------- 58 . Press release, June 29, 1970, announcing medals of Secretary Kennedy and Director of the Mint Brooks for sale at the Philadelphia Mint.---- 59 11. Excerpts from remarks by the Director of the Mint, August 22, 1970, before the 79th annual convention of the American Numismatic Association, St. Louis, Mo------------------------------------ 60 12. Press release, August 31, 1970, announcing new series of miniature medals------------------------------------------------------ 62 13. An act to provide for the striking of medals in commemoration of contributions ***** by Jose Antonio Navarro - - - - - - - - - - - - - - - - - - - 63 14. An act to provide for the striking of medals in commemoration of the completion of the carvings on Stone Mountain, Ga--------------- 64 15. Press release, September 13, 1970, announcing price increases in national medals produced by the Mint.-------------------------- 64 U.S. GOLD, SILVER, AND COINAGE METALS Gold and silver mining industry, calendar years 1968 and 1969---------- Refinery production of gold and silver-------------------------------- Gold and silver issued for nonmonetary use- - - - - - - - - - - - - - - - - - - - - - - - - - - Prices of gold, silver, and coinage metals------------------------------ CONTENTS VII THE WORLD'S MONETARY STOCKS OF GOLD, SILVER, AND COINS IN 1969 Page Government Coinage Mints of the World - - - - - - - - - - - - - - - - - - - - - - - - - - - - 106 Summary—Coinage of nations, 1969---------------------------------- 108 Coinage of Nations and World, Coins 1969--- - - - - - - - - - - - - - - - - - - - - - - - - - 111 World monetary units, 1969- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 174 Silver coins withdrawn from circulation, 1969 - - - - - - - - - - - - - - - - - - - - - - - - - 180 Gold and silver issued for industrial, professional, and artistic use, 1969----- 181 World production of gold, 1967–69----------------------------------- 182 World production of silver, 1967–69---------------------------------- 183 World monetary stocks of gold bullion and