1$ (One Dollar) US Patterns
J-1619

”The goloid metric alloy was debated in Congress, and much can be found concerning it in the annals of that body. Briefly, the idea was that by adding equal value (but not weight) of silver and gold, a coin would be created that would be politically ideal. This was a time when "Silverites," as they were called, were bemoaning the collapsed state of the market for that metal, with distress in Nevada and other silver-mining states, at the same time new strikes were being found. There was no longer a market for coinage silver in Europe, as that standard had been dropped. Coinage use for silver metal was negligible except for the boondoggle of the Bland-Allison Act of February 28, 1878, which mandated that Uncle Sam make Morgan silver dollars. Still, those who preferred "real money," or gold, felt that Morgan dollars were a waste of Federal funds, and that the only acceptable standard should be gold. This went into the forefront as the most burning political issue of the next decade, extending all the way to 1896, when it was the issue in the presidential campaign that year. Goloid metal of gold and silver was predominantly silver by weight, to which mix 10% copper was added as an alloy for strength. The result was not distinguishable from silver except by elemental analysis. The concept was rejected when the Treasury Department protested that neither the public nor anyone else, except for those with a scientific inclination, would be able to tell whether a dollar was made in goloid alloy or in regular silver alloy. This would be a boon for counterfeiters, who would need to use less metal overall.”