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One more "gold coin" post...
Posted by steveg
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One more "gold coin" post... March 11, 2012 04:47AM |
Registered: 13 years ago Posts: 2,408 |
...two questions...
...based on THIS QUOTE from NASA-Tom, in the "How widely were gold coins dispersed in the US" thread...
ONE -- I have a site that I have researched locally, which was a military fort for a time, housing soldiers and officers at various times from 1835 to 1838. Since this time period is well before the "1840s and 1850s" cited as being the best time period for gold coin circulations at Army sites, would this site be just "less likely" to hold gold coins, or would it be "very unlikely?"
TWO -- Regarding the $1 coin, does anyone know how well this coin is detected by a Minelab FBS machine (depth of detection...) I know roughly where it should ID in an air test, numbers-wise...but saw stated by NASA-Tom that an F-75 will detect it to 10". Obviously, the FBS units should detect this to a much shallower depth...anyone know roughly what I could expect on an Explorer?
This gold coin stuff is just FASCINATING.
NASA-Tom, your research on this (you said you could "write a book") is priceless, and any amount you share is much appreciated (and your statement, based on your research, about "two Mason/Ball jars per household" for holding buried coins back in the 1800s...I'd love to hear more about that...)
Steve
...based on THIS QUOTE from NASA-Tom, in the "How widely were gold coins dispersed in the US" thread...
Quote
The BEST place to find gold coins are at 1840's - 1860's Army sites. Military were paid in silver and gold coin. And they DID carry them with QUITE a bit of regularity.
REMEMBER; Gold coins ID as 'pull-tab'!!!! The U.S. $1.00 gold coin ID's as 'foil'.
Throughout the entire history spectrum......the $5.00 Half Eagle gold coin WAS/IS the workhorse. It reads square tab on all detectors (around '53' on the F75)........and high-tone/'zinc penny' on the CZ-3D in the 'enhanced' mode.
In the 1840's (up until around mid-year 1847)......it was the $2.50 Quarter Eagle that was the workhorse. It ID's as a '42' on F75. Remember.......this is under ideal/textbook perfect conditions.
IF you find a gold coin..............it is apt to be dated 1843 - 1882. There is a MUCH less chance ....... but possible it'll be dated in the range of 1883 - 1906. Nearly impossible to be dated 1907 - 1933 (although huge mintage quantities.....they did not CIRCULATE).
And it is highly doubtful that it'll be a Eagle or Double Eagle........unless it is a cache.
The U.S. $1.00 gold coins were hated...........because SOOOOoooooo many people LOST them. They are exceptionally TINY. ((( A great scenario for us detectorists ))).
Many detectors can hardly detect a $1.00 gold coin. A F75 LTD can detect it (in real dirt) to depths of 10".......under reasonable conditions. This $1 coin is considered a fairly large target to the F75/LTD. Not so with nearly all other detectors.
The $1 gold coin was in HEAVY HEAVY circulation from November, 1849 to April, 1862. Remember, the Silver Dollar DID NOT EXIST for CIRCULATION during this window/era!!!!! Sooooooo. it was ONLY the $1 gold coin that was available.....during this era.
Tom
ONE -- I have a site that I have researched locally, which was a military fort for a time, housing soldiers and officers at various times from 1835 to 1838. Since this time period is well before the "1840s and 1850s" cited as being the best time period for gold coin circulations at Army sites, would this site be just "less likely" to hold gold coins, or would it be "very unlikely?"
TWO -- Regarding the $1 coin, does anyone know how well this coin is detected by a Minelab FBS machine (depth of detection...) I know roughly where it should ID in an air test, numbers-wise...but saw stated by NASA-Tom that an F-75 will detect it to 10". Obviously, the FBS units should detect this to a much shallower depth...anyone know roughly what I could expect on an Explorer?
This gold coin stuff is just FASCINATING.
NASA-Tom, your research on this (you said you could "write a book") is priceless, and any amount you share is much appreciated (and your statement, based on your research, about "two Mason/Ball jars per household" for holding buried coins back in the 1800s...I'd love to hear more about that...)
Steve
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Re: One more "gold coin" post... March 11, 2012 01:01PM |
Registered: 17 years ago Posts: 10,071 |
Steve....... 1835 - 1838 is a bit less likely; yet, still within the realm of reasonable possibility....... especially 1837 & 1838. There were weight changes (ratio changes) in 1834 ...... and Congressional problems throughout the entire 1830's about gold:silver ratios....... especially early/mid 1830's. Production volume was quite low in the early 1830's....... and banks were (somewhat) reluctant to release them into circulation; yet, they did circulate. Because 'military' is 'government'........... and the coins were 'government' (federal issue)....... the military were high on the list to be 'issued' these coins.
Don't forget: FOREIGN silver & gold coins were in heavy circulation in the early/mid 1800's......... because the U.S. mint had yet to produce enough 'volume' for commerce demand.
Mineralization has tremendous effect of detectability..... especially the U.S. one-dollar gold coin. You may want to acquire one..... and bury it at 5"...... and see what/how the Minelab responds. Then........... vary the depth by 1/2-inch increments.
Don't forget: FOREIGN silver & gold coins were in heavy circulation in the early/mid 1800's......... because the U.S. mint had yet to produce enough 'volume' for commerce demand.
Mineralization has tremendous effect of detectability..... especially the U.S. one-dollar gold coin. You may want to acquire one..... and bury it at 5"...... and see what/how the Minelab responds. Then........... vary the depth by 1/2-inch increments.
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Re: One more "gold coin" post... March 11, 2012 03:30PM |
Registered: 13 years ago Posts: 2,408 |
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Re: One more "gold coin" post... March 12, 2012 06:37AM |
Registered: 13 years ago Posts: 22 |
Tom. I vaguely remember you providing a gold "test" coin with a detector a couple of years ago and I think that you suggested that detector folks should have one. I can't remember which coin it was but I believe it was a $1.00 dollar coin. Is there any particular one or year that is better than another? I often find myself in miners camps and old time military areas here in the West but I almost always am using my gold machine. I have often thought that there might be coins in the area but seldom look for them. Would consider buying a one dollar gold coin from a dealer or ebay but I don't want to spend alot of money for the wrong coin. John
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Re: One more "gold coin" post... March 12, 2012 09:43AM |
Registered: 14 years ago Posts: 3,312 |
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Re: One more "gold coin" post... March 12, 2012 10:51AM |
Registered: 15 years ago Posts: 1,852 |
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Re: One more "gold coin" post... March 12, 2012 01:23PM |
Registered: 17 years ago Posts: 10,071 |
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Re: One more "gold coin" post... March 12, 2012 02:40PM |
Registered: 13 years ago Posts: 22 |
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Re: One more "gold coin" post... March 12, 2012 03:39PM |
Registered: 14 years ago Posts: 3,312 |
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Re: One more "gold coin" post... March 12, 2012 11:50PM |
Registered: 13 years ago Posts: 2,408 |
go-rebels -- when you say "cheap," what do you mean? Based on my info, a post-1837 $10 Eagle has .48375 troy oz. gold in it...so based on that, a $1 gold coin would have .048375 troy oz. This, assuming an estimated $1700 per troy oz. gold price, means $82 for a $1 gold coin in just "base metal" price. Am I correct on this? If so, somewhere around $90 for one of these, in "not good" condition, including shipping, is probably about as cheap as you could expect to get one?
Steve
Steve
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Re: One more "gold coin" post... March 13, 2012 12:27AM |
Registered: 15 years ago Posts: 326 |
steveg Wrote:
-------------------------------------------------------
> go-rebels -- when you say "cheap," what do you
> mean? Based on my info, a post-1837 $10 Eagle has
> .48375 troy oz. gold in it...so based on that, a
> $1 gold coin would have .048375 troy oz. This,
> assuming an estimated $1700 per troy oz. gold
> price, means $82 for a $1 gold coin in just "base
> metal" price. Am I correct on this? If so,
> somewhere around $90 for one of these, in "not
> good" condition, including shipping, is probably
> about as cheap as you could expect to get one?
>
> Steve
Steve - If you go to a coin shop, ask if they would have a "cull" $1 gold Type 1 coin. All that means is it is "damaged" and had little collector value. It might have a scratch or be dinged on an edge which will work for testing purposes. I needed to get a bronze Indian Head to scan into my Explorer II, I told the guy what I wanted it for and he gave me a "cull" flying Eagle cent which is the same material as the Indian I wanted. That is how I learned what a "cull" was.
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> go-rebels -- when you say "cheap," what do you
> mean? Based on my info, a post-1837 $10 Eagle has
> .48375 troy oz. gold in it...so based on that, a
> $1 gold coin would have .048375 troy oz. This,
> assuming an estimated $1700 per troy oz. gold
> price, means $82 for a $1 gold coin in just "base
> metal" price. Am I correct on this? If so,
> somewhere around $90 for one of these, in "not
> good" condition, including shipping, is probably
> about as cheap as you could expect to get one?
>
> Steve
Steve - If you go to a coin shop, ask if they would have a "cull" $1 gold Type 1 coin. All that means is it is "damaged" and had little collector value. It might have a scratch or be dinged on an edge which will work for testing purposes. I needed to get a bronze Indian Head to scan into my Explorer II, I told the guy what I wanted it for and he gave me a "cull" flying Eagle cent which is the same material as the Indian I wanted. That is how I learned what a "cull" was.
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Re: One more "gold coin" post... March 13, 2012 01:24AM |
Registered: 13 years ago Posts: 2,408 |
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Re: One more "gold coin" post... March 13, 2012 01:44AM |
Registered: 17 years ago Posts: 10,071 |
Even a cull will run over $100. I've been paying around $190 for good test-samples.
..... Try to shy away from one that has a rim-ding.... for your base-testing purposes. Eddy currents natural circumferential pattern is distorted/disrupted with rim-dings..... especially if it is significant. This is also to include solder 'blobs' on the rim. A 'natural' coin is best.
..... Try to shy away from one that has a rim-ding.... for your base-testing purposes. Eddy currents natural circumferential pattern is distorted/disrupted with rim-dings..... especially if it is significant. This is also to include solder 'blobs' on the rim. A 'natural' coin is best.
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Re: One more "gold coin" post... March 13, 2012 02:46AM |
Registered: 13 years ago Posts: 2,408 |
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Re: One more "gold coin" post... March 13, 2012 09:35AM |
Registered: 17 years ago Posts: 10,071 |
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Re: One more "gold coin" post... March 13, 2012 11:26AM |
Registered: 15 years ago Posts: 1,852 |
Here's a good example for burying in a test bed: [www.ebay.com]
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Re: One more "gold coin" post... March 13, 2012 08:12PM |
Registered: 13 years ago Posts: 2,408 |