The United States Assay Commission was an agency of the U.S. federal government from 1792 to 1980. Its function was to supervise the annual testing of the gold, silver, and (in its final years) base metal coins produced by the United States Mint to ensure that they met specifications. Although some members were designated by statute, for the most part the commission, which was freshly appointed each year, consisted of prominent Americans, including numismatists. Appointment to the Assay Commission was eagerly sought after, in part because commissioners received a commemorative medal. These medals, different each year, are extremely rare, with the exception of the 1977 issue, which was sold to the general public. The Mint Act of 1792 authorized the Assay Commission. Beginning in 1797, it met in most years at the Philadelphia Mint. Each year, the president appointed unpaid members, who would gather in Philadelphia to ensure the weight and fineness of silver and gold coins issued the previous year were to specifications. In 1971, the commission met, but for the first time had no gold or silver to test, with the end of silver coinage. Beginning in 1977, President Jimmy Carter appointed no members of the public to the commission, and in 1980, he signed legislation abolishing it.
History
Founding and early days (1792–1873) In January 1791, Treasury Secretary Alexander Hamilton submitted a report to Congress proposing the establishment of a mint. Hamilton concluded his report:
The remedy for errors in the weight and alloy of the coins, must necessarily form a part, in the system of a mint; and the manner of applying it will require to be regulated. The following account is given of the practice in England, in this particular: A certain number of pieces are taken promiscuously out of every fifteen pounds of gold, coined at the Mint, which are deposited, for safe keeping, in a strong box, called the pix [sic, more commonly "pyx"]. This box, from time to time, is opened in the presence of the Lord Chancellor, the officers of the Treasury, and others, and portions are selected from the pieces of each coinage, which are melted together, and the mass assayed by a jury of the Company of Goldsmiths ... The expediency of some similar regulation seems to be manifest.
In response to Hamilton's report, Congress passed the Mint Act of 1792. In addition to setting the standards for the new nation's coinage, Congress provided for an American version of the British Trial of the Pyx:
That from every separate mass of standard gold or silver, which shall be made into coins at the said Mint, there shall be taken, set apart by the Treasurer and reserved in his custody a certain number of pieces, not less than three, and that once in every year the pieces so set apart and reserved, shall be assayed under the inspection of the Chief Justice of the United States, the Secretary and Comptroller of the Treasury, the Secretary for the Department of State, and the Attorney General of the United States, (who are hereby required to attend for that purpose at the said Mint, on the last Monday in July in each year) ... and if it shall be found that the gold and silver so assayed, shall not be inferior to their respective standards herein before declared more than one part in one hundred and forty-four parts, the officer or officers of the said Mint whom it may concern shall be held excusable; but if any greater inferiority shall appear, it shall be certified to the President of the United States, and the said officer or officers shall be deemed disqualified to hold their respective offices.
The following January, Congress passed legislation changing the date on which the designated officials met to the second Monday in February. Meetings did not take place immediately; the Mint was not yet striking gold or silver. Minting of silver began in 1794 and gold in 1795, and some coins were saved for assay: the first Mint document mentioning assay pieces is from January 1796 and indicates that exactly $80 in silver had been put aside. The first assay commissioners did not meet until Monday, March 20, 1797, a month later than the prescribed date. Once they did, annual meetings took place each year until 1980, except in 1817 as there had been no gold or silver struck since the last meeting (until 1837, the commission examined the coins since the last testing, rather than for a particular calendar year).
… excerpt ends here. Continue reading the full article.
