Janvier Reducing Machine

Reducing lathe:
Many types of lathes can be equipped with accessory components to allow them to reproduce an item: the original item is mounted on one spindle, the blank is mounted on another, and as both turn in synchronized manner, one end of an arm "reads" the original and the other end of the arm "carves" the duplicate.
A reducing lathe is a specialized lathe that is designed with this feature, and which incorporates a mechanism similar to a pantograph, so that when the "reading" end of the arm reads a detail that measures one inch (for example), the cutting end of the arm creates an analogous detail that is (for example) one quarter of an inch (a 4:1 reduction, although given appropriate machinery and appropriate settings, any reduction ratio is possible).
Reducing lathes are used in coin-making, where a plaster original (or an epoxy master made from the plaster original, or a copper shelled master made from the plaster original, etc.) is duplicated and reduced on the reducing lathe, generating a master die.
In 1907 the Mint introduced the Janvier Reduction Lathe that would remain in use for the remainder of the 20th century.
A pantograph which traces the exact contour of the mould onto an engraved master die bearing the same diameter as the coin to be struck.

http://www.fleur-de-coin.com/articles/moderncoinminting.asp
http://www.1881o.com/reduction.html