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How widely were gold coins dispersed in the US
Posted by DirtyJohn
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Re: How widely were gold coins dispersed in the US December 15, 2013 04:26AM |
Registered: 14 years ago Posts: 8,155 |
Hey Wayne I to was talking the other day to a guy about how many Indian heads are lying in parks and such that no one digs...
Over the years Ive actually went into spots like yards and such and nabbed quite alot of Injuns..but then again I was relic hunting the yards...so all was dug above nail...
Good post Tom!
Keith
Over the years Ive actually went into spots like yards and such and nabbed quite alot of Injuns..but then again I was relic hunting the yards...so all was dug above nail...
Good post Tom!
Keith
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Re: How widely were gold coins dispersed in the US December 15, 2013 05:27AM |
Registered: 13 years ago Posts: 277 |
"You only need to go back about 170 years ago.......... and paper money did not exist. What does THIS mean!!! :-) "
I'm not sure if this is the line-of-reasoning you're looking for Tom, but to me it reinforces my belief that the powers-to-be had plans afoot in the near future to change gold into more paper currency.
How much of the minted Gold coinage went into somebody's coffer?
I'm not sure if this is the line-of-reasoning you're looking for Tom, but to me it reinforces my belief that the powers-to-be had plans afoot in the near future to change gold into more paper currency.
How much of the minted Gold coinage went into somebody's coffer?
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Re: How widely were gold coins dispersed in the US December 15, 2013 09:52AM |
Registered: 12 years ago Posts: 552 |
Some back-of-the-envelope numbers ...
Coins ................Mintage
$1 Gold - .......18,740,399
$2.50 Gold - ..20,826,396
$3.00 Gold - .......538,173
$5.00 Gold -...77,328,323
$10.00 Gold - 55,012,672
$20.00 Gold - 172,396,592
Approximately 95% of all gold coins minted were removed from circulation.
Total Gold Coins 344,842,555 x .05 = 17,242,128 available for circulation
Of the 17,242,128 gold coins that remained in circulation it is statistically calculated that approximately 10% of high-value coins are lost from circulation during the coin's lifetime, that is, not being returned to the bank.
Of the 1,724,213 gold coins, perhaps half were lost to the ground - which is 862,106 dropped gold coins.
These 862,106 coins were dropped within the US, which has 3,537,422 square miles of land surface in which to lose a coin.
Human settlement, where coins are most likely to be dropped, accounts for only about 2% of the available US surface area, or 70,748 urban sq miles (city area) in the US.
The initial urban population centers in 1794, when gold coins were first being minted, held 97% of the population, mostly within the thirteen colonies. By the 1930's the colonies held only about 40% of the population. The decrease occurred as people migrated to the Midwest and South and some to the West, creating new city centers. Thus, early coin losses were greatest in the urban centers of the colonies and spread over time toward the south and west.
If all gold coins were lost in the city centers it would result in 12 gold coins dropped per urban square mile in the US.
But in the 1700's farming accounted for 90% of the labor force, with farming occurring outside the city. The number of farms and farmers decreased in the US over time as people moved into cities. New cities were created with the westward spreading population, so that by 1930's only 21% of the labor force involved farming.
So, as people moved west, carrying gold coins, they lost them in small rural farming areas and along wagon routes (Cumberland Road). It is likely that half the coins were lost in the urban centers prior to the 1830's and the other half lost in rural settings as the prairies began being farmed after 1850. The California Gold Rush at that time also moved populations westward (principally creating a large urban populations in San Francisco.)
It would be expected that loss of gold was divided - about 6 gold coins per urban square mile was lost and 6 gold coins would be lost in the open rural areas. For city areas, this would equate to one gold coin lost per 11,791 urban square miles (7,546,240 acres). Of the 34,666,735 rural square miles available in the US, those 6 lost gold coins per square mile would equate to one gold coin lost per 577,779 rural square miles (369,778,560 acres).
This means that though 6 gold coins per sq mile were dropped in urban cities and 6 coins per sq mi dropped in open rural areas, the urban area is 49 times smaller in land area than the extensive farmland areas. The likelihood of finding a single gold coin is much greater in older urban population centers than in open rural areas.
As an example, San Francisco has a city area of 47 square miles. It might be expected that a total of 282 gold coins were lost there during its history (6 x 47). Figure that about 60% of the city streets and surrounding area is now paved and undetectable. The area remaining to recover a lost coin is obviously much smaller today than in the 1800's when streets were dirt. This does leave however about 19 square miles of undeveloped San Francisco to hunt for the remaining 113 gold coins. Yet another problem - perhaps 60% of these small gold coins in the unpaved areas have sunk beyond the depth capability of a metal detector. That leaves 45 gold coins left to find within the remaining 19 square miles, or about 2 gold coins per square mile (a square mile is 640 acres) within that undeveloped San Fran area.
Continuing the example of San Francisco, if a detector sweeps 3 sq feet per second and hunts for 6 continuous hours, then 64,800 sq feet (1.5 acres) is covered. It would take 427 hunts of 6-hours each (1.2 years) to fully cover the undeveloped area of San Francisco and recover all 45 gold coins hidden within reach of a detector.
Further, if a gold coin has a surface area of 1.1 square inches, then 45 gold coins would have a total of 49 square inches. You are then looking in 76,275,302,400 sq in of land (equals 19 sq miles) for 49 sq inches of coin surface area. The probability that any randomly selected undeveloped spot in San Francisco would yield a gold coin is 1 in 1,556,663. That is, if you dug 1.6 million holes - one would have a gold coin in it. It is faster to use a detector.
You'd need to dig 2840 trillion random holes throughout the rural areas of the US to find a single gold coin. It would only take 14,914,399,769 hunts of 6-hours each (40,861,369 years in all) to recover all the gold coins in the rural farmlands of the US. You are far more likely to find a gold coin in the city than in the country, assuming you had no specific leads to a gold coin's whereabouts.
Coins ................Mintage
$1 Gold - .......18,740,399
$2.50 Gold - ..20,826,396
$3.00 Gold - .......538,173
$5.00 Gold -...77,328,323
$10.00 Gold - 55,012,672
$20.00 Gold - 172,396,592
Approximately 95% of all gold coins minted were removed from circulation.
Total Gold Coins 344,842,555 x .05 = 17,242,128 available for circulation
Of the 17,242,128 gold coins that remained in circulation it is statistically calculated that approximately 10% of high-value coins are lost from circulation during the coin's lifetime, that is, not being returned to the bank.
Of the 1,724,213 gold coins, perhaps half were lost to the ground - which is 862,106 dropped gold coins.
These 862,106 coins were dropped within the US, which has 3,537,422 square miles of land surface in which to lose a coin.
Human settlement, where coins are most likely to be dropped, accounts for only about 2% of the available US surface area, or 70,748 urban sq miles (city area) in the US.
The initial urban population centers in 1794, when gold coins were first being minted, held 97% of the population, mostly within the thirteen colonies. By the 1930's the colonies held only about 40% of the population. The decrease occurred as people migrated to the Midwest and South and some to the West, creating new city centers. Thus, early coin losses were greatest in the urban centers of the colonies and spread over time toward the south and west.
If all gold coins were lost in the city centers it would result in 12 gold coins dropped per urban square mile in the US.
But in the 1700's farming accounted for 90% of the labor force, with farming occurring outside the city. The number of farms and farmers decreased in the US over time as people moved into cities. New cities were created with the westward spreading population, so that by 1930's only 21% of the labor force involved farming.
So, as people moved west, carrying gold coins, they lost them in small rural farming areas and along wagon routes (Cumberland Road). It is likely that half the coins were lost in the urban centers prior to the 1830's and the other half lost in rural settings as the prairies began being farmed after 1850. The California Gold Rush at that time also moved populations westward (principally creating a large urban populations in San Francisco.)
It would be expected that loss of gold was divided - about 6 gold coins per urban square mile was lost and 6 gold coins would be lost in the open rural areas. For city areas, this would equate to one gold coin lost per 11,791 urban square miles (7,546,240 acres). Of the 34,666,735 rural square miles available in the US, those 6 lost gold coins per square mile would equate to one gold coin lost per 577,779 rural square miles (369,778,560 acres).
This means that though 6 gold coins per sq mile were dropped in urban cities and 6 coins per sq mi dropped in open rural areas, the urban area is 49 times smaller in land area than the extensive farmland areas. The likelihood of finding a single gold coin is much greater in older urban population centers than in open rural areas.
As an example, San Francisco has a city area of 47 square miles. It might be expected that a total of 282 gold coins were lost there during its history (6 x 47). Figure that about 60% of the city streets and surrounding area is now paved and undetectable. The area remaining to recover a lost coin is obviously much smaller today than in the 1800's when streets were dirt. This does leave however about 19 square miles of undeveloped San Francisco to hunt for the remaining 113 gold coins. Yet another problem - perhaps 60% of these small gold coins in the unpaved areas have sunk beyond the depth capability of a metal detector. That leaves 45 gold coins left to find within the remaining 19 square miles, or about 2 gold coins per square mile (a square mile is 640 acres) within that undeveloped San Fran area.
Continuing the example of San Francisco, if a detector sweeps 3 sq feet per second and hunts for 6 continuous hours, then 64,800 sq feet (1.5 acres) is covered. It would take 427 hunts of 6-hours each (1.2 years) to fully cover the undeveloped area of San Francisco and recover all 45 gold coins hidden within reach of a detector.
Further, if a gold coin has a surface area of 1.1 square inches, then 45 gold coins would have a total of 49 square inches. You are then looking in 76,275,302,400 sq in of land (equals 19 sq miles) for 49 sq inches of coin surface area. The probability that any randomly selected undeveloped spot in San Francisco would yield a gold coin is 1 in 1,556,663. That is, if you dug 1.6 million holes - one would have a gold coin in it. It is faster to use a detector.
You'd need to dig 2840 trillion random holes throughout the rural areas of the US to find a single gold coin. It would only take 14,914,399,769 hunts of 6-hours each (40,861,369 years in all) to recover all the gold coins in the rural farmlands of the US. You are far more likely to find a gold coin in the city than in the country, assuming you had no specific leads to a gold coin's whereabouts.
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Re: How widely were gold coins dispersed in the US December 15, 2013 03:00PM |
Registered: 17 years ago Posts: 10,071 |
MRH - I'm glad to know I'm not on an island! Finding those odd-ball coins has a certain order-of-magnitude challenge....... and pride when you do find one (or more). Also............ what 'other' valuable items were found in the process......... that are JUST as hard to find as odd-ball coins........ due to conductive bandwidth ranges that we.... as detectorists...... normally do not recover (due to bad trash-to-good-target ratio).
Phil - It was not that long ago when paper money did not exist. Only 'coin'. Progressively........ today.......... gold and silver coins are even MORE valuable/collected/wanted then ever before....... in the history of mankind. I believe the 'pushed' mindset/concept of paper money was: "It's easier to carry/transport". Regardless of the level of truth of this matter......... paper currency was 'pushed' into the public. I think we all know the reasons 'why'. ((( Now... it is plastic and/or paperless ............. with nearly the same rationale ))). In any regard.......... at the introduction of paper money....... it was not trusted. Advancing forward to today.......... there is still a certain level of 'distrust' in regards to paper money. The value ""represent"" of a gold coin has ALWAYS been .... and still is...... the pinnacle of "TRUST". The pinnacle of "VALUE". There is no higher widespread 'trust' congruency known to man.... on planet Earth. And with enmasse wide dissemination. You hand a gold coin to a American, a German, a Chinese, a African.............. and it ALL has identical meaning. You hand a paper Dollar to different people around the world...... and you may have it handed right back to you! (((Already happened to me in Taiwan))).
It is neat/fun to swing a coil in areas whereby paper currency did not // never existed.
Johnny...... you did it again. A interesting, eye-opening perspective that many/most may not think about....... take into consideration.
Another way....... and HIGHLY encouraged.......... to learn about gold coins (and their subsequent circulation) is to perform research on 'paper currency history' or 'history of paper currency'. I would love to see some folks post their findings/learnings on this exact topic. This will teach you about "specie"........... which is exactly one of the primary reasons 'why' we detect. The more "knowledge" you have.............. the wealthier you will be. (((Not a joke............. and never to be taken as a joke))).
If only I could encourage all detectorists to dig/recover just 12 extra targets with each/every hunt. These dozen targets are to be deeper mid-tone (or low-tone) non-ferrous targets..... in areas where old targets have already been recovered/verified. Take this challenge seriously!
Phil - It was not that long ago when paper money did not exist. Only 'coin'. Progressively........ today.......... gold and silver coins are even MORE valuable/collected/wanted then ever before....... in the history of mankind. I believe the 'pushed' mindset/concept of paper money was: "It's easier to carry/transport". Regardless of the level of truth of this matter......... paper currency was 'pushed' into the public. I think we all know the reasons 'why'. ((( Now... it is plastic and/or paperless ............. with nearly the same rationale ))). In any regard.......... at the introduction of paper money....... it was not trusted. Advancing forward to today.......... there is still a certain level of 'distrust' in regards to paper money. The value ""represent"" of a gold coin has ALWAYS been .... and still is...... the pinnacle of "TRUST". The pinnacle of "VALUE". There is no higher widespread 'trust' congruency known to man.... on planet Earth. And with enmasse wide dissemination. You hand a gold coin to a American, a German, a Chinese, a African.............. and it ALL has identical meaning. You hand a paper Dollar to different people around the world...... and you may have it handed right back to you! (((Already happened to me in Taiwan))).
It is neat/fun to swing a coil in areas whereby paper currency did not // never existed.
Johnny...... you did it again. A interesting, eye-opening perspective that many/most may not think about....... take into consideration.
Another way....... and HIGHLY encouraged.......... to learn about gold coins (and their subsequent circulation) is to perform research on 'paper currency history' or 'history of paper currency'. I would love to see some folks post their findings/learnings on this exact topic. This will teach you about "specie"........... which is exactly one of the primary reasons 'why' we detect. The more "knowledge" you have.............. the wealthier you will be. (((Not a joke............. and never to be taken as a joke))).
If only I could encourage all detectorists to dig/recover just 12 extra targets with each/every hunt. These dozen targets are to be deeper mid-tone (or low-tone) non-ferrous targets..... in areas where old targets have already been recovered/verified. Take this challenge seriously!
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Re: How widely were gold coins dispersed in the US December 15, 2013 04:41PM |
Registered: 13 years ago Posts: 2,408 |
I am taking your challenge seriously. I will be digging many more mid- and low-tone targets on each hunt.
Not sure that this will do alot for me regarding "history of paper currency," but I did order David Bowers' "United States Gold Coins -- an Illustrated History," and I look forward to reading it...
Steve
Not sure that this will do alot for me regarding "history of paper currency," but I did order David Bowers' "United States Gold Coins -- an Illustrated History," and I look forward to reading it...
Steve
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Re: How widely were gold coins dispersed in the US December 15, 2013 04:49PM |
Registered: 17 years ago Posts: 10,071 |
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Re: How widely were gold coins dispersed in the US December 15, 2013 05:18PM |
Registered: 13 years ago Posts: 2,408 |
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Re: How widely were gold coins dispersed in the US December 15, 2013 10:21PM |
Registered: 13 years ago Posts: 3 |
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Re: How widely were gold coins dispersed in the US December 15, 2013 11:50PM |
Registered: 12 years ago Posts: 2,225 |
well,got me thinking...here in Nocal...i got one,i know a guy Tom(Ca) who has 14 individual finds,another guy named Tom from Montara has 20something,but most where at one spot. Ron (ca) has a couple i believe in his 49er cache...Kuger found one...a buddy of mine found two$5 about a month apart...i even think i remember Paul ftom here getting one....and i know of someone who doesnt do forums that got 3 last summer...oh and remember my friend Warren getting one years ago. i would say large cents are less common out here than gold coins. sorry bout the ramblin post,just trying to recall those i know of,lol.
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Re: How widely were gold coins dispersed in the US December 16, 2013 01:09AM |
Registered: 13 years ago Posts: 2,408 |
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Re: How widely were gold coins dispersed in the US December 16, 2013 01:56AM |
Registered: 17 years ago Posts: 10,071 |
From the amount of 'private' PM's that I have received over the past several years (some with photo's)........ I know gold coins are being found. I'm not sure of the reasoning behind the 'privacy/secracy' part.......... ((( I can speculate several reasons ))) ...... but would certainly like to see forum posted photo's of these coins....... the State they were found in.......... the depth they were found....... the unit used.......... the signal/audio/visual report it gave.............. and the 'surprise' factor that was experienced. Data documentary ... is important.
While we are on the gold coins///odd-ball coins subject....... I must confess:
I own many CZ's (no surprises here).
It is not uncommon for me to calibrate a CZ for a extremely specific localized task. I may calibrate a CZ for a one-day hunt..... for one very specific/localized site. If I suspect a site may contain/have White Cents and/or Half Eagles........... I may calibrate one of my CZ's for giving a unique audio report specifically to White Cents/Half Eagles.
In fact....... I have a site that I (logically) suspect 3-Cent nickels and Type-2/Type-3 $1 U.S. Gold coins exist........... so I will specifically calibrate one of my CZ's to report a more user-friendly audible intelligence communication format..... for this one-off site.
((( Could I use a Explorer/E-Trac platform....... and create a specific/customized program for this task? No. Not quite ))).
The more you know a site........... and the more data you have about the era of that specific site (and the items that were used on a daily basis during that specific era)......... can really help aid you in 'knowing what you are looking for' ...... subsequently,,,,,,, knowing 'what to expect' from your metal detectors intelligence/performance abilities.
While we are on the gold coins///odd-ball coins subject....... I must confess:
I own many CZ's (no surprises here).
It is not uncommon for me to calibrate a CZ for a extremely specific localized task. I may calibrate a CZ for a one-day hunt..... for one very specific/localized site. If I suspect a site may contain/have White Cents and/or Half Eagles........... I may calibrate one of my CZ's for giving a unique audio report specifically to White Cents/Half Eagles.
In fact....... I have a site that I (logically) suspect 3-Cent nickels and Type-2/Type-3 $1 U.S. Gold coins exist........... so I will specifically calibrate one of my CZ's to report a more user-friendly audible intelligence communication format..... for this one-off site.
((( Could I use a Explorer/E-Trac platform....... and create a specific/customized program for this task? No. Not quite ))).
The more you know a site........... and the more data you have about the era of that specific site (and the items that were used on a daily basis during that specific era)......... can really help aid you in 'knowing what you are looking for' ...... subsequently,,,,,,, knowing 'what to expect' from your metal detectors intelligence/performance abilities.
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Re: How widely were gold coins dispersed in the US December 16, 2013 02:24AM |
Registered: 12 years ago Posts: 2,225 |
not kidding Steve. I only posted names to the ones that have been posted on forums. Now that i think about it, I had another guy tell me about one found prospecting. I believe This (gold rush area California) is probably the best area of the country for gold coins. But things that are common back east like Large cents ,are very rare here. I have the feeling Tom know specifics to this.
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Re: How widely were gold coins dispersed in the US December 16, 2013 09:26AM |
Registered: 12 years ago Posts: 882 |
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Re: How widely were gold coins dispersed in the US December 17, 2013 11:03AM |
Registered: 17 years ago Posts: 10,071 |
* You can learn a lot about gold coin circulation by studying the history of the greenback. One small tidbit on it's history: On January 01, 1879 Congress enacted legislation that would authorize converting greenbacks into gold coins.... and vice versa.
* In the 1790's........ while the U.S. mint (for the first time in history) was coming up to speed on producing 3 types/denominations of gold coins, 5 types/denominations of silver coins and 2 types/denominations of copper coins...... the high volume and circulation of foreign gold and silver coins were to remain 'legal tender' for just a few more years (((until enough 'volume' of U.S. coins were minted))) .......... but............ ended up remaining legal tender until 1857. This was due to unexpected initial low volume mintage of U.S. coins. And........... even though foreign gold & silver coins were no longer titled 'legal tender' starting in 1857........... foreign gold & silver coins still remained in circulation through the Civil War and a few more years beyond.
* All throughout world-wide paper money history............ there has always been (one form or another) a 'level of difficulty' converting paper money into gold; subsequently, paper money has always been distrusted. You will notice that.......... in 1792, Congress initiated an act establishing a mint that would only produce copper, silver, gold............ and NO paper money. This was for VERY good historical reasonings. Gold coins were THE epitome......... THE pinnacle.......... THE "bench" ........... unto which generated a TRUSTWORTHY/solid/concrete Nation. This "was" a well known fact.......... due to repeated historical painful lesson/after lesson/after lesson dealings with paper money or any other form of currency.
* OLD England
NEW England
We left our old family blood behind (due to goverment corruption) to create a NEW England due to taxes/tariff's/untrustworthy money. And look at where this 'new England' (((the U.S.))) is today. Does 'history' repeat itself? Can you see a innate human signature/pattern? Will we (as a peoples......... or Nation's) see/learn from this?
* In the 1790's........ while the U.S. mint (for the first time in history) was coming up to speed on producing 3 types/denominations of gold coins, 5 types/denominations of silver coins and 2 types/denominations of copper coins...... the high volume and circulation of foreign gold and silver coins were to remain 'legal tender' for just a few more years (((until enough 'volume' of U.S. coins were minted))) .......... but............ ended up remaining legal tender until 1857. This was due to unexpected initial low volume mintage of U.S. coins. And........... even though foreign gold & silver coins were no longer titled 'legal tender' starting in 1857........... foreign gold & silver coins still remained in circulation through the Civil War and a few more years beyond.
* All throughout world-wide paper money history............ there has always been (one form or another) a 'level of difficulty' converting paper money into gold; subsequently, paper money has always been distrusted. You will notice that.......... in 1792, Congress initiated an act establishing a mint that would only produce copper, silver, gold............ and NO paper money. This was for VERY good historical reasonings. Gold coins were THE epitome......... THE pinnacle.......... THE "bench" ........... unto which generated a TRUSTWORTHY/solid/concrete Nation. This "was" a well known fact.......... due to repeated historical painful lesson/after lesson/after lesson dealings with paper money or any other form of currency.
* OLD England
NEW England
We left our old family blood behind (due to goverment corruption) to create a NEW England due to taxes/tariff's/untrustworthy money. And look at where this 'new England' (((the U.S.))) is today. Does 'history' repeat itself? Can you see a innate human signature/pattern? Will we (as a peoples......... or Nation's) see/learn from this?
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Re: How widely were gold coins dispersed in the US December 17, 2013 11:35AM |
Registered: 12 years ago Posts: 2,225 |
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Re: How widely were gold coins dispersed in the US December 17, 2013 11:40AM |
Registered: 12 years ago Posts: 2,225 |
A California Gold Rush history: Featuring the treasure from the S.S. Central America : a source book for the Gold Rush historian and numismatist
Q. David Bowers
Format: Hardcover
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Re: How widely were gold coins dispersed in the US December 17, 2013 01:08PM |
Registered: 13 years ago Posts: 2,408 |
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Re: How widely were gold coins dispersed in the US December 18, 2013 02:56AM |
Registered: 17 years ago Posts: 10,071 |
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Re: How widely were gold coins dispersed in the US December 18, 2013 03:41AM |
Registered: 12 years ago Posts: 2,225 |
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Re: How widely were gold coins dispersed in the US December 21, 2013 12:28PM |
Registered: 17 years ago Posts: 10,071 |
Again, for the record............ and to aid all that read this forum..... in finding gold coins:
Prior to 1861........ all paper money circulating in the U.S. ..... were issued by private banks (with no insurance)...... chartered by individual States. The paper money were called State Bank Notes. In most cases, all of these banks were insolvent from inception....... and closed their doors after circulating/issuing worthless paper money. As the banks went broke.......... the paper currency were called Broken Bank Notes. Most of these banks were built/constructed in areas that were inaccessable/hidden from the general public. . . . so as to make it difficult for folks wanting to redeem these bank notes for gold coins. It would take a "Wildcat" to hunt down the location of these "Wildcat Banks". With hardly any governing rules/regulations (and insurance) with these Wildcat Banks and their subsequent printing of paper money..... this continued to send confusion and distrust amongst the public with strong negative sentiment/gut feelings with/towards paper currency. Gold coins (and silver) continued to be the #1 staple.
From late 1795 to the late 1820's........... the United States commeced production/mintage of gold coins. All of them went into circulation. This was to include, bank reserves/holdings, bank reserves for issue, individuals/peoples reserves/holdings for 'nest-egg' retirement (cache), individuals holdings for daily commerce/trading/spending circulation, all merchant circulation............ and........ international trading. (((This is just exactly what today's pennies, nickels, dimes, quarters perform))). The problem is.............. from around 1795 to the late 1820's.......... the volume of gold coins minted were extremely low.......... to include; the population of the United States was also quite low. (Small.... but growing country). There were also large time/periods with inflation.... whereby gold coins would cease to circulate......... and time-frames where they would indeed circulate.
From the very late 1820's to 1834.......... the production/mintage of gold coins increased dramatically. VOLUME of gold coins in circulation also increased linearly. There was a weight issue (too heavy) of gold coins in the early 1830's (due to inflation)....... so there was a slight reduction of weight in gold coins in 1834 (so as to prevent hoarding & melting)....... so as to keep gold coins in heavy circulation...... per the United States Constitution.
From 1834 to April of 1862........... gold coins were in high producton and high circulation. Political/emotional sentiment would always play a factor in the circulating of gold coins.......... throughout history; yet, 1834 to 1862...... circulation was heavy.
(((More to follow..... time permitting))).
Prior to 1861........ all paper money circulating in the U.S. ..... were issued by private banks (with no insurance)...... chartered by individual States. The paper money were called State Bank Notes. In most cases, all of these banks were insolvent from inception....... and closed their doors after circulating/issuing worthless paper money. As the banks went broke.......... the paper currency were called Broken Bank Notes. Most of these banks were built/constructed in areas that were inaccessable/hidden from the general public. . . . so as to make it difficult for folks wanting to redeem these bank notes for gold coins. It would take a "Wildcat" to hunt down the location of these "Wildcat Banks". With hardly any governing rules/regulations (and insurance) with these Wildcat Banks and their subsequent printing of paper money..... this continued to send confusion and distrust amongst the public with strong negative sentiment/gut feelings with/towards paper currency. Gold coins (and silver) continued to be the #1 staple.
From late 1795 to the late 1820's........... the United States commeced production/mintage of gold coins. All of them went into circulation. This was to include, bank reserves/holdings, bank reserves for issue, individuals/peoples reserves/holdings for 'nest-egg' retirement (cache), individuals holdings for daily commerce/trading/spending circulation, all merchant circulation............ and........ international trading. (((This is just exactly what today's pennies, nickels, dimes, quarters perform))). The problem is.............. from around 1795 to the late 1820's.......... the volume of gold coins minted were extremely low.......... to include; the population of the United States was also quite low. (Small.... but growing country). There were also large time/periods with inflation.... whereby gold coins would cease to circulate......... and time-frames where they would indeed circulate.
From the very late 1820's to 1834.......... the production/mintage of gold coins increased dramatically. VOLUME of gold coins in circulation also increased linearly. There was a weight issue (too heavy) of gold coins in the early 1830's (due to inflation)....... so there was a slight reduction of weight in gold coins in 1834 (so as to prevent hoarding & melting)....... so as to keep gold coins in heavy circulation...... per the United States Constitution.
From 1834 to April of 1862........... gold coins were in high producton and high circulation. Political/emotional sentiment would always play a factor in the circulating of gold coins.......... throughout history; yet, 1834 to 1862...... circulation was heavy.
(((More to follow..... time permitting))).
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Re: How widely were gold coins dispersed in the US December 21, 2013 03:52PM |
Registered: 13 years ago Posts: 2,408 |
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Re: How widely were gold coins dispersed in the US December 21, 2013 04:00PM |
Registered: 12 years ago Posts: 2,225 |
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Re: How widely were gold coins dispersed in the US December 21, 2013 07:44PM |
Registered: 13 years ago Posts: 277 |
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Re: How widely were gold coins dispersed in the US December 21, 2013 09:12PM |
Registered: 14 years ago Posts: 3,948 |
What do Abraham Lincoln, James Garfield, and John F. Kennedy have in common?
Written by Editor
Wednesday, 10 March 2010 00:29
If you said, “they were all U.S. Presidents and they were all assassinated,” you are right.
But, the commonality doesn't stop there. “The rest of the story” may explain why they were assassinated.
These three leaders were some of the staunchest opponents of the international central-banking cartel that controlled politics and governments in Europe and, today, the USA.
Central banks, such as the USA's privately-owned Federal Reserve bank, dominated by international shareholders, control the issuance of money and credit. They create money out of nothing, then loan it out to us at interest. They risk nothing, but reap vast profits. By manipulating the availability of credit, they create up-and-down cycles in the economy which they use to enrich themselves. They make credit freely available to lull people into a false sense of security, which prompts people to use more credit and take greater risks. Then, they tighten credit, sending the economy careening downward, at which point they buy up assets at pennies on the dollar for their foreign shareholders.
picPresident Abraham Linoln
President Abraham Lincoln was an ardent opponent of the greedy money-making schemes employed by central banks. It had been tried in the USA in the early-to-mid 1800s and beat back by strong and courageous leaders, but it was firmly in control in Europe.
When the Civil War began in America, the international banking cartel agreed to a $150 million government loan package to finance the war. They would resell U.S. bonds in England with the Barings and Rothschilds, putting the United States at the mercy of the British aristocracy and international financiers.
Lincoln came up with his own plan. He decided to finance the war with U.S. Government notes, which came to be known as “greenbacks” because the backs were printed with green ink. He decided to pay for the war with money instead of with debt.
The traditional way to finance a war in the modern central-banking era is to borrow money from the nation's central bank. The central bank does not have the money, but they create it by the authority of the borrowing government and loan it to the government with interest. It makes the bankers rich but enslaves the governments and their peoples with vast amounts of debt.
Imagine if you had the authority to print your own money, then loan it to the U.S. Government at interest. You'd get pretty rich, wouldn't you? It's a nice scam if you can do it, but, sorry, you can't. That power was granted in 1913 to a private bank which deceptively named itself “Federal Reserve” in order to appear to be a government institution.
President Lincoln's greenbacks were wildly successful and allowed the government to conduct business without contracting debt. The government-issued, debt-free money lead to great prosperity in the United States. From the central bankers' point of view, it had to be stopped. The very foundations of their fortune-building system, which had made the heads-of-state of every nation in Europe, except the Czar of Russia, their puppets, were threatened by the greenbacks.
Lincoln resisted the central bankers and showed the world that there was a better way, and he died with a bullet in his head.
picPresident James Garfield
James Garfield became President about a decade and a half after Lincoln's assassination. Garfield, too, was a strong foe of the central-banking scheme. He saw American history as a struggle between freedom and slavery – freedom to pursue one's own destiny, or slavery in bondage to the banks that bled the economies of nations and shackled its peoples with insurmountable public debts.
In 1881, Garfield said, “Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
Two weeks later, he was dead. Garfield's presidency lasted only 100 days, and ended with a bullet.
At stake for the bankers is nothing less than world domination through control of world governments. The only motive is profit, and removing a man who is an obstacle to profit is a simple business decision.
In 1913, the light of freedom went out in the United States. In a lightning-fast move, the so-called “Federal Reserve Act” was pushed through Congress and became law, signed on Christmas Eve by President Woodrow Wilson, transferring the money-issuing authority from the U.S. Congress to a private corporation which called itself the “Federal Reserve” and which was owned by the members of the international central-banking cartel. Thus began our nation's downward spiral into bondage to the same powers that had ruled Europe for 150 years.
An alert reader might rightfully remark that, coincidentally, the federal income tax was created during the same year. It was no coincidence. A borrower (in this case, the government) must have verifiable and quantifiable income in order to assume debt to a bank. Without Federal Reserve debt-money, there is no need for an income tax. Essentially, our wealth is systematically transferred to the central bankers using the vehicle of the income tax in order to finance our nation's indebtedness to these bankers.
Right away, the U.S. Was pushed into a massive European war, in which the bankers financed both sides, and the American people were forced to assume an unprecedented national debt by borrowing from the bankers, since the nation could no longer issue its own money. The first shackles were firmly in place.
The only winners at the end of World War One were the international bankers, who amassed huge fortunes on the backs of the men, women, and children who died on battlefields and in villages across Europe.
War is the most lucrative business activity that the bankers engage in. They finance both sides, giving unlimited credit to the side they decided will win, and giving just enough credit to the losing side so that they will hold out some hope of victory and keep fighting. The winner's terms of obtaining financing typically require them to pay the bank debts of the loser, so the financiers assume no risk at all.
The purpose of war in the modern era is not to right a wrong, but to enrich the financiers. It is to this end that wars are started and conducted, and this is why we now live in an era of endless war.
Fast on the heels of World War One, the central bankers began contracting the money supply and tightening credit, leading to the stock market crash of 1929 and the ensuing Great Depression. Huge swathes of American industry, farming properties, and other assets were swept into the coffers of the bankers and their international shareholders over the course of this period of intense suffering in the USA. On top of those profits, the government assumed incredible amounts of debt to fund social programs, public works programs, and “economic recovery” strategies.
Slowly, the American people began to work their way out of this banker-induced devastation, only to be thrust into yet another international war and to be shouldered with another monstrously-large chunk of national debt to the international financiers. World War Two was financed not with debt-free government notes, but by banker-owned, interest-bearing debt. The U.S. Government had given away its right to create money in 1913 and was now firmly in the control of the international financial interests.
picPresident John F. Kennedy
In a rare move of courage unparalleled in any American President since 1913 through today, a President confronted the central bankers and threatened to undo their profit-generating system. In 1963, President John F. Kennedy issued an Executive Order which rescinded the Federal Reserve bank's authority to issue money. Kennedy ordered the Department of Treasury to begin printed debt-free money. Large amounts of $2 and $5 denominations of authentic United States currency (not Federal Reserve notes) were circulating and $10 and $20 notes were being printed when, five months after Executive Order 1110 was signed, Kennedy was shot in Dallas.
The $2 and $5 U.S. Notes were immediately recalled and the $10 and $20 notes were destroyed before they could be circulated. The power quickly and quietly shifted back to the central bank.
President Kennedy demonstrated rare courage in standing against the international financiers, and he died with a bullet in his head.
American politicians learned their lesson well. Don't stand in the way of the banks. The banks have limitless resources (after all, they issue our money with just a few strokes of a keyboard) and no sense of ethics. They are profit-making businesses. And, when the control of nations and continents is at stake, they will let no man stand in their way.
They own our money. They own our news media. They own our financial institutions. They own our government. They own us. Our leaders, in our name and based on the power we have vested in them, have mortgaged our nation to the international financiers and sold-out America to the European money power-structure.
The central banks are the ones who benefit from titanic spending bills and deficit-ridden national budgets.
The central banks are the ones who benefit from centralized control of an economy.
The central banks are the ones who benefit from centralized control of national education systems.
The central banks are the ones who benefit from the curtailing of free speech.
The central banks are the ones who benefit from gun control and the disarming of the public, lest any should resist them.
They own us because our elected leaders signed our names on the dotted line, pledging our assets and future income to the central banks and their international shareholders.
The Democrat vs. Republican, Liberal vs. Conservative conflict is the greatest red herring to come out of the twentieth century. It keeps us involved, thinking we have a cause, thinking we're making a difference, thinking we have something meaningful to support or oppose. When we become dissatisfied, we boot out the party in power, yet the ones who are really in power continue without interruption, unseen and unhindered, laughing at our ignorance as they shovel our wealth into their coffers.
Finally, that great American Nation has been brought to its knees. Finally, we have been re-made into the image of Europe, complete with the European-style socialism that guarantees the financier's continued success by keeping “the people” under firm, unrelenting control from cradle to grave. That Old Glory that flies over our government institutions, churches, and homes is now just a memorial to a bygone era when the light of freedom shone on this continent.
"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."
Thomas Jefferson
Ultimately, we have our Hope. Even at this late hour, when we see the end-times system of pervasive totalitarian control and indoctrination of the nations that will be used by the antichrist to control every corner of the globe and to deceive the peoples of the world, we have The Book, The Blood, and the Blessed Hope and need not fear nor to be deceived.
Ultimately, we will be free and the international financiers will be chained in the deepest, darkest recesses of Hell for all eternity. But, that does not mean that we should do nothing now. We must arm ourselves with information. Knowledge is power. Support those that take a stand. Educate our family, friends, and acquaintances. Inform our elected officials. We can yet be free, if a courageous Congress takes back its Constitutional power of issuing money.
The Federal Reserve, a private bank in Washington, DCUntil then, we and our children are slaves. Take a dollar out of your wallet and look at its face. See the words “Federal Reserve Note”? This is the mark of our master and the indicator of our servitude. So long as our money bears this mark, and so long as a private bank controls the issuance of money and credit, our nation is in bondage and grows weaker and less able to resist with each passing year.
__________________
Written by Editor
Wednesday, 10 March 2010 00:29
If you said, “they were all U.S. Presidents and they were all assassinated,” you are right.
But, the commonality doesn't stop there. “The rest of the story” may explain why they were assassinated.
These three leaders were some of the staunchest opponents of the international central-banking cartel that controlled politics and governments in Europe and, today, the USA.
Central banks, such as the USA's privately-owned Federal Reserve bank, dominated by international shareholders, control the issuance of money and credit. They create money out of nothing, then loan it out to us at interest. They risk nothing, but reap vast profits. By manipulating the availability of credit, they create up-and-down cycles in the economy which they use to enrich themselves. They make credit freely available to lull people into a false sense of security, which prompts people to use more credit and take greater risks. Then, they tighten credit, sending the economy careening downward, at which point they buy up assets at pennies on the dollar for their foreign shareholders.
picPresident Abraham Linoln
President Abraham Lincoln was an ardent opponent of the greedy money-making schemes employed by central banks. It had been tried in the USA in the early-to-mid 1800s and beat back by strong and courageous leaders, but it was firmly in control in Europe.
When the Civil War began in America, the international banking cartel agreed to a $150 million government loan package to finance the war. They would resell U.S. bonds in England with the Barings and Rothschilds, putting the United States at the mercy of the British aristocracy and international financiers.
Lincoln came up with his own plan. He decided to finance the war with U.S. Government notes, which came to be known as “greenbacks” because the backs were printed with green ink. He decided to pay for the war with money instead of with debt.
The traditional way to finance a war in the modern central-banking era is to borrow money from the nation's central bank. The central bank does not have the money, but they create it by the authority of the borrowing government and loan it to the government with interest. It makes the bankers rich but enslaves the governments and their peoples with vast amounts of debt.
Imagine if you had the authority to print your own money, then loan it to the U.S. Government at interest. You'd get pretty rich, wouldn't you? It's a nice scam if you can do it, but, sorry, you can't. That power was granted in 1913 to a private bank which deceptively named itself “Federal Reserve” in order to appear to be a government institution.
President Lincoln's greenbacks were wildly successful and allowed the government to conduct business without contracting debt. The government-issued, debt-free money lead to great prosperity in the United States. From the central bankers' point of view, it had to be stopped. The very foundations of their fortune-building system, which had made the heads-of-state of every nation in Europe, except the Czar of Russia, their puppets, were threatened by the greenbacks.
Lincoln resisted the central bankers and showed the world that there was a better way, and he died with a bullet in his head.
picPresident James Garfield
James Garfield became President about a decade and a half after Lincoln's assassination. Garfield, too, was a strong foe of the central-banking scheme. He saw American history as a struggle between freedom and slavery – freedom to pursue one's own destiny, or slavery in bondage to the banks that bled the economies of nations and shackled its peoples with insurmountable public debts.
In 1881, Garfield said, “Whoever controls the volume of money in our country is absolute master of all industry and commerce…and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
Two weeks later, he was dead. Garfield's presidency lasted only 100 days, and ended with a bullet.
At stake for the bankers is nothing less than world domination through control of world governments. The only motive is profit, and removing a man who is an obstacle to profit is a simple business decision.
In 1913, the light of freedom went out in the United States. In a lightning-fast move, the so-called “Federal Reserve Act” was pushed through Congress and became law, signed on Christmas Eve by President Woodrow Wilson, transferring the money-issuing authority from the U.S. Congress to a private corporation which called itself the “Federal Reserve” and which was owned by the members of the international central-banking cartel. Thus began our nation's downward spiral into bondage to the same powers that had ruled Europe for 150 years.
An alert reader might rightfully remark that, coincidentally, the federal income tax was created during the same year. It was no coincidence. A borrower (in this case, the government) must have verifiable and quantifiable income in order to assume debt to a bank. Without Federal Reserve debt-money, there is no need for an income tax. Essentially, our wealth is systematically transferred to the central bankers using the vehicle of the income tax in order to finance our nation's indebtedness to these bankers.
Right away, the U.S. Was pushed into a massive European war, in which the bankers financed both sides, and the American people were forced to assume an unprecedented national debt by borrowing from the bankers, since the nation could no longer issue its own money. The first shackles were firmly in place.
The only winners at the end of World War One were the international bankers, who amassed huge fortunes on the backs of the men, women, and children who died on battlefields and in villages across Europe.
War is the most lucrative business activity that the bankers engage in. They finance both sides, giving unlimited credit to the side they decided will win, and giving just enough credit to the losing side so that they will hold out some hope of victory and keep fighting. The winner's terms of obtaining financing typically require them to pay the bank debts of the loser, so the financiers assume no risk at all.
The purpose of war in the modern era is not to right a wrong, but to enrich the financiers. It is to this end that wars are started and conducted, and this is why we now live in an era of endless war.
Fast on the heels of World War One, the central bankers began contracting the money supply and tightening credit, leading to the stock market crash of 1929 and the ensuing Great Depression. Huge swathes of American industry, farming properties, and other assets were swept into the coffers of the bankers and their international shareholders over the course of this period of intense suffering in the USA. On top of those profits, the government assumed incredible amounts of debt to fund social programs, public works programs, and “economic recovery” strategies.
Slowly, the American people began to work their way out of this banker-induced devastation, only to be thrust into yet another international war and to be shouldered with another monstrously-large chunk of national debt to the international financiers. World War Two was financed not with debt-free government notes, but by banker-owned, interest-bearing debt. The U.S. Government had given away its right to create money in 1913 and was now firmly in the control of the international financial interests.
picPresident John F. Kennedy
In a rare move of courage unparalleled in any American President since 1913 through today, a President confronted the central bankers and threatened to undo their profit-generating system. In 1963, President John F. Kennedy issued an Executive Order which rescinded the Federal Reserve bank's authority to issue money. Kennedy ordered the Department of Treasury to begin printed debt-free money. Large amounts of $2 and $5 denominations of authentic United States currency (not Federal Reserve notes) were circulating and $10 and $20 notes were being printed when, five months after Executive Order 1110 was signed, Kennedy was shot in Dallas.
The $2 and $5 U.S. Notes were immediately recalled and the $10 and $20 notes were destroyed before they could be circulated. The power quickly and quietly shifted back to the central bank.
President Kennedy demonstrated rare courage in standing against the international financiers, and he died with a bullet in his head.
American politicians learned their lesson well. Don't stand in the way of the banks. The banks have limitless resources (after all, they issue our money with just a few strokes of a keyboard) and no sense of ethics. They are profit-making businesses. And, when the control of nations and continents is at stake, they will let no man stand in their way.
They own our money. They own our news media. They own our financial institutions. They own our government. They own us. Our leaders, in our name and based on the power we have vested in them, have mortgaged our nation to the international financiers and sold-out America to the European money power-structure.
The central banks are the ones who benefit from titanic spending bills and deficit-ridden national budgets.
The central banks are the ones who benefit from centralized control of an economy.
The central banks are the ones who benefit from centralized control of national education systems.
The central banks are the ones who benefit from the curtailing of free speech.
The central banks are the ones who benefit from gun control and the disarming of the public, lest any should resist them.
They own us because our elected leaders signed our names on the dotted line, pledging our assets and future income to the central banks and their international shareholders.
The Democrat vs. Republican, Liberal vs. Conservative conflict is the greatest red herring to come out of the twentieth century. It keeps us involved, thinking we have a cause, thinking we're making a difference, thinking we have something meaningful to support or oppose. When we become dissatisfied, we boot out the party in power, yet the ones who are really in power continue without interruption, unseen and unhindered, laughing at our ignorance as they shovel our wealth into their coffers.
Finally, that great American Nation has been brought to its knees. Finally, we have been re-made into the image of Europe, complete with the European-style socialism that guarantees the financier's continued success by keeping “the people” under firm, unrelenting control from cradle to grave. That Old Glory that flies over our government institutions, churches, and homes is now just a memorial to a bygone era when the light of freedom shone on this continent.
"The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered."
Thomas Jefferson
Ultimately, we have our Hope. Even at this late hour, when we see the end-times system of pervasive totalitarian control and indoctrination of the nations that will be used by the antichrist to control every corner of the globe and to deceive the peoples of the world, we have The Book, The Blood, and the Blessed Hope and need not fear nor to be deceived.
Ultimately, we will be free and the international financiers will be chained in the deepest, darkest recesses of Hell for all eternity. But, that does not mean that we should do nothing now. We must arm ourselves with information. Knowledge is power. Support those that take a stand. Educate our family, friends, and acquaintances. Inform our elected officials. We can yet be free, if a courageous Congress takes back its Constitutional power of issuing money.
The Federal Reserve, a private bank in Washington, DCUntil then, we and our children are slaves. Take a dollar out of your wallet and look at its face. See the words “Federal Reserve Note”? This is the mark of our master and the indicator of our servitude. So long as our money bears this mark, and so long as a private bank controls the issuance of money and credit, our nation is in bondage and grows weaker and less able to resist with each passing year.
__________________
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Re: How widely were gold coins dispersed in the US December 21, 2013 10:20PM |
Registered: 14 years ago Posts: 8,155 |
Maybe not the greatest resource... But I like to take advantage of the free Ebooks on line that google has digitized...
Good read here
[books.google.com]
this one is from 1888 on the U.S. mint silver and gold production...
[books.google.com]
Few more freebies here.
[www.google.com]
Ray, Paul ,Lawrenzo check out this title.!
Private gold coinage of California, 1849-55, its history and its issues
printed in 1913
[books.google.com]
whats unique about some of the old book is theres maybe only a few copies left, so some books are hard to procure in hard copy yet here they are forever in digital format for all to use freely.. as it should be with information...
maybe someone can dig around in google books and find some useful info!
I find Goodle books invaluable for looking for Civil War sites through old diaries that are to rare and expensive to buy...
Keith
Edited 3 time(s). Last edit at 12/21/2013 10:41PM by Keith Southern.
Good read here
[books.google.com]
this one is from 1888 on the U.S. mint silver and gold production...
[books.google.com]
Few more freebies here.
[www.google.com]
Ray, Paul ,Lawrenzo check out this title.!
Private gold coinage of California, 1849-55, its history and its issues
printed in 1913
[books.google.com]
whats unique about some of the old book is theres maybe only a few copies left, so some books are hard to procure in hard copy yet here they are forever in digital format for all to use freely.. as it should be with information...
maybe someone can dig around in google books and find some useful info!
I find Goodle books invaluable for looking for Civil War sites through old diaries that are to rare and expensive to buy...
Keith
Edited 3 time(s). Last edit at 12/21/2013 10:41PM by Keith Southern.
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Re: How widely were gold coins dispersed in the US December 21, 2013 10:43PM |
Registered: 13 years ago Posts: 2,408 |
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Re: How widely were gold coins dispersed in the US December 22, 2013 02:39PM |
Registered: 12 years ago Posts: 2,225 |
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Re: How widely were gold coins dispersed in the US January 06, 2014 12:35PM |
Registered: 17 years ago Posts: 10,071 |
Seems like interest to this thread has become quite low.......... so I'll just make one more post........ and leave it be.
When gold coin production: 'volume' ... vs ... 'circulation' ... vs ... 'population' ............. are looked upon on a bell-curve,,,,,,,,,, this ratio dictates that the best chances for finding gold coins are in areas where human activity was heavy (especially military activity)...... during the era/period/years from 1843 - April 1862. In general, these areas will provide you the #1 area/chance to finding gold coins.
When gold coin production: 'volume' ... vs ... 'circulation' ... vs ... 'population' ............. are looked upon on a bell-curve,,,,,,,,,, this ratio dictates that the best chances for finding gold coins are in areas where human activity was heavy (especially military activity)...... during the era/period/years from 1843 - April 1862. In general, these areas will provide you the #1 area/chance to finding gold coins.
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Re: How widely were gold coins dispersed in the US January 06, 2014 04:44PM |
Registered: 14 years ago Posts: 197 |
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Re: How widely were gold coins dispersed in the US January 06, 2014 11:37PM |
Registered: 13 years ago Posts: 2,408 |
