Cost of moving $65 million silver dollars - old mint to new mint in Philadelphia 0

[RWB]

This short letter shows that it cost the Philadelphia Mint 10-cents per $1,000 to move silver dollars from the old mint to the new one on Spring Garden St. These coins, $65,000,000, had previously been removed from rotting bags and put into new wooden boxes weighing about 60-lbs each.

April 21, 1899

Mr. J. K. Fitzgibbon,

Treasury Agent, U.S. Express Company,

Washington, D.C.

Sir:

Referring to the subject of several conversations between us, i.e., the removal of $65,000,000 in silver dollars from the old to the new vaults of the Mint at Philadelphia, I have to say: As this silver does not pass out of the Institution in which it now is, we do not consider this removal to be transportation within the meaning or purview of the contract with your Company, and think the contract would not be violated if the Superintendent made it himself.

We are disposed, however, to have this work done by your company and pay a rate sufficient to compensate fairly for the labor and risk involved. After going over the subject carefully the conclusion has been reached that ten cents (10¢) per $1,000 would do this amply and I do not see my way to allow more.

This silver is boxed, $1,000 in a box. The weight of a box (60 pounds) and the facts that the route is through the heart of the city and that the work will be done in daylight, reduce the risk of loss almost to nothing.

I understand from you that your Company claims this work under its contracts, but is disposed to make a special rate for this case if it may do so without the fact being used as a precedent. The case is an unusual one; and I am quite willing that if one like it occurs again it shall be settled upon its merits without reference to the action at this time.

Please advise me at once of your conclusions upon this proposition.

Very truly yours,

[Signature] George E. Roberts

Director of the Mint.

[RG104 E-235 Vol 305 Misc Correspondence]

Edited November 15, 2023 by RWB

[Henri Charriere]

For the collector curious as to how these stack up with the present-day Monster Boxes, 500 troy ounces come out to 31.25 pounds. Those weighed roughly twice that.  If it had been me, considering this was an intra-facility transfer, I would have authorized the use of banded kegs unless dollies were available.

[J P M]

65,000 boxes at .10 a box is $6500 to move all them boxes was probably good money in 1899.

[GoldFinger1969]

A horse-and-wagon could probably transport 20-30 of those boxes per load.  So you are talking about ~2,000 trips for 1 or 2 men.

Get a multi-horse transport....8-10 men....you can probably move 100 boxes at a time.  Need 650 trips.  Travel + loading/unloading each takes maybe 1 hour.  So need 65 days to do 10 trips per day per hour.   So figure $6,500 is 2 months work which works out to nice pay split by 8-10 men, each getting $300-$400 per month when the average monthly salary was probably $100 a month. 

Probably use more men/carriages for a shorter time period.  Secret Service or military or Pinkerton or something like that.

Edited November 16, 2023 by GoldFinger1969

[zadok]

On 11/16/2023 at 12:49 AM, GoldFinger1969 said:

A horse-and-wagon could probably transport 20-30 of those boxes per load.  So you are talking about ~2,000 trips for 1 or 2 men.

Get a multi-horse transport....8-10 men....you can probably move 100 boxes at a time.  Need 650 trips.  Travel + loading/unloading each takes maybe 1 hour.  So need 65 days to do 10 trips per day per hour.   So figure $6,500 is 2 months work which works out to nice pay split by 8-10 men, each getting $300-$400 per month when the average monthly salary was probably $100 a month. 

Probably use more men/carriages for a shorter time period.  Secret Service or military or Pinkerton or something like that.

...or could have used the USPS with flat rate boxes n saved 50%, of course they would still be moving them today but with only a 30% loss expectancy rate....