COINING MONEY

Wairarapa Times-Age, 21 April 1938, Page 9

COINING MONEY

f NEW METHOD OUTLINED. A new method for saving money that at the same time involves a new way of coining money in the literal sense of the word, was outlined before the 148th meeting of the American Institute of Mining and Metallurgical Engineers (states the “New York Times”). The new process, described before a symposium on the latest advances in powder metallurgy by Gregory J. Comstock, of New York City, would employ these modern advances in the art of powdering metals, and compressing them, in the minting of silver and gold coins. The present methods of coining money, it was asserted, involves certain losses in the precious metals that would be eliminated by methods now used in powder metallurgy. “Illustrations of the fact that it is possible to save money by moulding metal powders directly into the form of certain finished articles are becoming more numerous.” Mr Comstock told the engineers. “Commutator Segments, other small motor parts, magnets, and iron bearings may be used as examples. “Experiments indicate quite conclusively that coins could now be made more economically by this process than by the methods which are currently in effect for producing them.”