F75 setting on gold coins

This is a air test on gold coins with the f75. A $1, 2 1/2 , 5, 10 & 20... $ 1 = (26), $ 2 1/2 = (41), $ 5 = (52), $ 10 = (61), $ 20 = (69)... maybe this will help someone find some of this .

Thanks for the information.

I guess when hunting an old site that could hold a gold coin, one must dig everything just to make sure.

Those numbers are exactly correct. You must have been using a "Type 3" gold dollar.... as the "Type 1" will ID as a '24' on the F75.

Only had one of the $1 gold coins and it is a 1853.

How widely circulated were gold coins? I read somewhere that the U.S. gold coins were not used much. Is there any truth to this?

I'm not sure but think the $5 was used the most.You have got to think in the 1850's are so when a man worked $5 was a lot of money back then. A person may not make $50 in 1 yr. But it looks like the $1 to 5 would be the most lost because of the size of the coin. But I have been hunting for 15 yrs. and found a lot of silver half dollars so they could have lost a 10 or 20?

I have been studying this topic nearly all my life. "CIRCULATION" is the key. Volume minted is of little concern.

IN A NUTSHELL=

"Wide Circulation" were: early 1843 to mid-year 1882. (Mid-year 1862 to late 1870... specie payments ceased and gold coins were not in circulation).
"Moderate Circulation" were: 1834 to 1843..... and late 1882 to 1906.
Prior to 1834, gold coins were very few in numbers, having 'weight' issues....and plenty of private institutions trying to create THE 'standard' for size/weight/denomination/acceptability. 1832 - 1838 were the primary years of when a gold coin was worth more than face value; subsequently being hoarded/melted.
From 1907 to late 1916.... gold coins were available from banks..... but were rarely seen in circulation. And from 1917 to 1933, gold coins became somewhat difficult to acquire from banks.... as....during this time-period.... were primarily used for bank-to-bank transactions & international commerce.
On April 05 1933, President Roosevelt made it illegal/prohibited for U.S. Citizens to own gold coin. ((( It would not be until Dec 31, 1974 when all restrictions for ownership of gold would be dropped ))).

Half-Eagles (U.S. $5.00) gold coins were the 'work-horse' of all denominations.

Yes, many-many gold coins were melted during/after 1934...... and in the mid-1830's.... and in the early 1820's... etc..... BUT...we, as detectorists, don't care about this,,,,because they CIRCULATED quite a bit BEFORE decisions were made to go on a melting spree. When things are placed in 'circulation'; things are 'lost'!

Some of my 'random' notes:

1818 = $9.45/Month for Farm Laborer
1864 = Carpenter $13.50/6-days labor
1900 = $487.00/Yr ($9.37/week)
1908 = $0.22/hr
(I love these kinds of stat's).

Tom