On November 19, 1872

On November 19, 1872, while the coinage bill was still before Congress, Linderman made a report to the Secretary of the Treasury.[8] In the report, Linderman argued that the coin need not hold legal tender status, and that it could simply be a piece of silver imprinted with its weight and fineness.[8] Linderman also notes that such a product could supersede the Mexican dollar and eventually command a six to eight percent premium; at that time, American silver exported to the Orient was being sold at a two percent discount.[8] Linderman proposed that the coin be named the "silver union" in order to distinguish it from the standard coins then in production.[8
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