Salt Lake Telegram | 1934-05-28 | Page 1 | U. S. Mints Swamped by Flood of Old Gold

U. U S. S MINTS SW SWAMPED AMP D' D DBY BY FLOOD OF OLD GOLD W WASHINGTON May 28 P iP- iP The treasury is doing a land office business in gold watches Old fashioned turnips modern mod mod- ern crit extra thin timepieces and wrist watches are arc pouring into the mints and assay offices to drop into the melting pot and become be come scrap gold old The governments government's 35 an ounce price is the magnet Besides watches there arc are re wedding rings jugs tt chains spectacle rims lims dental scraps pins and even gold medals coming to the pot Millions of dollars donars worth of or scrap metal has been sold to the government since devaluation boosted mint prices from 2067 to 35 One thing that swelled the flood of oC scrap metal is the reduction reduction reduction tion from fron five live ounces to one of oC the minimum the mints will buy f. f Y