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Question? Has anyone here found a gold coin?

amberjack said:
was this the end of the gold standard as in money backed by gold?

AJ
Believe it was '72 when Nixon took us off the gold standard (?)..........Also supposed to be "temporary"...LMAO!!!!!!!
 
The way i understand this and i could be wrong, is under Nixon, U.S. currency was no longer 'backed' by gold and silver. Just paper now.
Anyone out there have an old Dollar that says Silver Certificate instead of modern dollars that say Federal Reserve Note. Totally two different animals.

Previous to Nixon a Silver Certificate Dollar could be turned in i believe at certain banks for the equivalent metallic silver. Same with gold certificates and notes.
Unlike Roosevelt in 1933, there was no strong armed persuasion to turn in private holdings of metallic gold.

I think a lot of people might of squirreled away there private holdings of gold coinage instead of surrendering it in 1933. Maybe most people. People who might of buried it to keep it hidden from the powers to be.

Why as Tom mentioned most gold coins are found out West? Some of those Western areas were territories and not States until shortly before or shortly after 1900.
Further, the SW States like Arizona, New Mexico, Texas and California had a large Mexican population. Don't know this for a fact, just guessing that a lot not all of gold coins found out West are Mexican or Spanish.

Wish Tom_in_Ca would comment on all this!
 
ironsight said:
.... Wish Tom_in_Ca would comment on all this!
Sorry guys, been away from findmall a few days, lemme catch up here ....

ironsight said:
.... Any pics of them!

As you wish. Here's a group shot of the 14. I have better crisp high res. pix of each on a one-by-one basis, but this is the only pix I have in my 'puter of all 14 together at present. I need to eventually do a better group shot.

ironsight said:
.... As to your point of more gold coins are found out West, in addition could it be that the major gold fields were out West with most gold coins minted locally to minimize gold transports across the Country? Thinking of the Denver and SanFran mints.

To my knowledge, the philadelphia mint quantities of gold coins were just as high, or highr, than CC or D or S mints. So that "gold mining out west" statistic would not explain the distribution. My theory as to why more are found out west is this:

That up till the turn of the century (and perhaps even through WWII), the majority of the movement of people was from east TO west. Right ? Because at one time, the population was much higher to the east of the Mississippi, and everyone was always packing up their bags and moving west to seek fortune, opportunity, etc.... So there was a perpetual trickle of travellers moving THIS direction, versus going back THAT direction.

And so, think of it: In an era before credit cards, national banks, paper checks, etc.... the only way to carry your wealth, when moving to a new location, was in actual money form. An exception would be money wiring (well fargo had ways of letting you withdraw at other locations, etc...). But for the most part, if you were moving ONCE FOR ALL and picking up your ENTIRE ESTATE, then that might be the only time you'd cash out, and put your savings into the medium of the time: Gold coin. So whereas persons back east might only take out their gold when getting ready to put down a deposit on a large purchase (real estate, buggy, horse, etc...), and the rest of the time, they'd have only their small change. I alluded to this in an earlier post on this thread.

The reason I have this theory, is that multiple of the gold coins I've found (and those my buddies have found with me at our common sites) have been at stage stop type locations.

HOWEVER: This does not explain the other half of the gold coins I've found, and seen found out here: Some have been found at the beach (which you'd *think* would be recreational areas, not "travel" areas). Others in oldtown demolition sites (sidewalk tearouts , etc...), where you'd *think* would be "that day's shopping", not "traveller type spots". And a few from parks, etc....

So I realize my "east to west migration patterns" doesn't explain all the difference in east vs west coast, it's my theory and I'm stickin' to it ! :)

ironsight said:
.....Don't know this for a fact, just guessing that a lot not all of gold coins found out West are Mexican or Spanish .....

No. Very few gold coins found out here are Spanish or Mexican. I've found about 100 reales out here, yet no spanish or mexican gold coins. A buddy of mine has found well over 100 reales too, and has yet to find a spanish or mexican gold coin (yet has 8 or 9 USA gold coins). My oldest is an 1829 British Gold sovereign (found at a east to west emigration stopping spot on the trail to CA). And I've gotten a few from the 1830s/40s (mexican era), but they were USA coins. Hence I suppose those *could* have been Mexican gold coins, as they circulated in that right "era" (based on the age of the sites I was at when finding those particular ones).

I know of 3 or 4 spanish/mexican gold coins found in CA. And in each case, yes, found in place where the "context" was Spanish and Mexican era settlements (pueblos, near missions, at adobe sites, etc....)
 
ironsight said:
.... Also, could the U.S. going off the gold standard in 1933 also be a reason old gold coins are rare to find? Apparently a lot were turned in ....

No. That wouldn't explain their lack of being found. Any-more-so than the USA withdrawing silver from circulation would be a reason we "can't find silver". On the contrary, we all find silver ALL THE TIME. Thus, sure: it might explain why silver (and gold) isn't in circulation NOW. But it doesn't explain why said-coins weren't lost *PRIOR* to their being withdrawn from circulation.

And as I said earlier, the reason why you see very few found, is that they were only brought out for larger purchases. In the same way you don't cash your paycheck for $500 to $1000, and then make a habit of carrying around "$500 to $1000 in cold hard cash". Instead you'll have some $1s, $5, $10's in your wallet (the equivalent of yester-year's dimes, quarters, etc....).

So in the old days, gold coins were recorded as having been brought out only for purposes of things like buying real estate (or downpayments on), buying livestock, a buggy, etc.... NOT carried around like pennies, nickels, dimes, etc.... would be.

Southwind said:
..... I've found 2 in my 40 years of detecting. A 1945 Mexican 2 peso gold coin and a 1984 South African Krugerrand in a 14k bezel.

Are we counting jewelry too ? Ok, I've got 15 gold coins then :)
 
Lord have mercy! :surprised::drool::yikes: :puke:

Tom, what are your thoughts on our ears getting 'attuned' to high silver pings to our own detriment for finding a gold coin back East? I can understand a beach/water hunter finding a gold coin accidentally on account of thats what our ears are attuned to....but for a dirt hunter? With all the mid tone junk out there? Theres gotta be some missed or at least masked gold coins in a multidenom spill?? Especially when a guy is into some pre 30's dirt...old street tearouts and such...I like and understand your thought process, how you put yourself back in those days to strategically approach the target...

That one Deus guy found his under a tree in a hammered park I think I remember...mid tone, not expected at all, like a nickel or tab...Share if you will some of the backstories on your gold coin finds...you gotta know we would appreciate reading about it!:beers:
Mud
 
mud, everything you're saying is true of park turf hunting. Yes, in those type environments, a lot of old park turf hunters are not in "relic mindset". They may be angling for the old copper and silver. Yup, kiss nickels and gold rings goodbye. If someone wants a gold ring THAT bad, why would they be hunting junky inner city blighted parks, *to begin with* ? They'd be better served simply going to the beach, doh!

Thus yes: I'm sure some are getting passed at parks, by people who are cherry picking to pass tabs. However, sometimes they DO turn up in turf hunting. Especially when you start talking $10s and $20s (as rare as those are to begin with). Because the $10 reads up almost near IH, and the $20 reads at penny/dime. So you can be high discriminating and still get those no problem. And actually, you can *almost* get a $5 too, while high discriminating. Hence I have heard of guys getting them when turf hunting, EVEN though passing low conductors. Like perhaps they thought they were about to chase a war nickel, for instance (which reads higher than regular nickel). But definately you will miss $2.50's and $1's, when high discriminating.

Let me explain, re: $5's: The $5 , on the Whites 1 to 100 scale, reads at about 48 to 49-ish. That's at about where those beefier sturdier square tabs read. Hence if you're tuning out foil, round tabs, and the *normal* square tabs, you can STILL get a $5 gold ! I know because I got one of my $5s in a bleachers/grandstands tearout project. The ground underneath these grandstands (which dates to the teens and '20s) were an OCEAN of tabs, foil, etc.... Thus naturally we were angling only for silver, and were not going to try to be heros and get nickels too (simply not enough time, too much ground to cover, and silver was plentiful).

So I had set my Whites Eagle IISL to pass everything from 47 downwards. And edited IN 48 and upwards. Even though , naturally, copper and silver are 70s & up, I had set it as low as possible (to still be able to knock out the recurring trash), to allow for the best possible AVERAGING (for when a coin and tab were together, for instance). Imagine my surprise when this $5 gold popped up. I immediately thought: "how can this be?? I'm disc'ing out low conductors ??". So I waved the $5 solo. Pinged up in my accepted range at 48-ish. Then I waved a beefy square tab. It read 47-ish (and would only give an occasional crackle as they tried to squeek through). Thus the Whites multi-segmented (1 to 100) scale had been my saving grace in that one's find. Because if it had been a machine like the CZ6 , for instance, which lumps more targets into broader groups, I'd have missed the $5 gold when attempting to pass square tabs.

That's the only one of my gold coins I can attribute to anything to do with the machine itself. The rest were all found in relicky situations, where I was in a "dig all" mindset. And not necessarily deep mind you. Like on the beach after storm erosion, old coins can be a mere 1" deep blah blah. Or at deserty ghost town sites, coins may not necessarily be deep (although seeing through/around iron could be an issue). And in demolition sites, depth is not normally an issue (only iron-see through/around issues perhaps).
 
A side note on $5 denomination:

Of all the denominations ($1, $2.50, $5, $10, and $20), the $5 was the most commonly used/circulated one. Even though mintage statistics don't seem to bear that out, for some reason, it's true.

Thus you'll notice, whenever you read on any md'ing forum of a gold coin having been found, you'll notice that 70% + of the time (?) it's usually always going to be a $5. Has anyone else noticed that ? For example, of my 14, eight are $5's (I count the British one as a $5, since it's identical size/weight).
 
I gotcha there, reading you 5X5...I run tones from 1-100 on my current land rig, and focus up on those foil/mid tones...on my water rig, I have hit gold chains below the disced out number I typically run, which I thought was strange, good to know..probably on account of the mass?:shrug:.

I do know of 2 verified gold coin finds coming out of my town...mythologically spoken of in hushed terms by coil swingers in the 70's in old street tearouts...

I know theres a lot more lost in creek crossings, bar fights and whatnot..so I'm looking and watching daily....location, and being at the right place at the right time, with the right gear and the right mind...trying to learn and pay attention to what the dirt is telling me, targets found, age, composition and depth..Its gotta be a matter of time and focusing on the right signals I'm thinking.? A guy has to apply a bit of analytical science right? Which what makes this Sport so much Fun!:clapping:
Mud....
 
mudpuppy said:
I gotcha there, reading you 5X5...I run tones from 1-100 on my current land rig, and focus up on those foil/mid tones...on my water rig, I have hit gold chains below the disced out number I typically run......

mudpuppy said:
....... focusing on the right signals I'm thinking.? ..

Mud, I think you're still getting side-tracked in thinking about equipment (type detector), settings, certain signals, etc..... I would disagree with this being the tactic to trying to find gold coins. Because as I've said before, they're not necessarily low signals (except perhaps the $1 and $2.50).

99.9% of the tactics for finding gold coins is going to be WHERE you're hunting. Because I bet that every single one of my gold coins (for instance) could have been found with a cheap Bounty hunter detector. Thus it was a more a function of where I was hunting, that led me to them. And , sure, going in a relic mindset helped I suppose. But sheesk, so too do LOTS of hunters hunt in open screen relic mindset (ie.: dig all except iron). Especially beach hunters, for instance (lest they miss gold rings). And CW hunters, etc.... But notice they're not finding gold coins EVEN though "digging all". Thus as I say, it's not so much a function of TID, machine, depth, etc.... It's already a GIVEN what their TID's are. It's 99.9% going to be a function of the type sites you hunt.

And yes, being on the west coast helps. Doh !
 
Ok...Let me digest this a bit....catch my breath...and think...dammit! No wonder! Ive been going about this all wrong!:rofl:

So you are saying if I want to find a gold coin for me to sell my gear and get a Bounty Hunter? Why didnt somebody tell me this in the first place!:rofl:
Mud
 
haha, no, I wouldn't trade my Exp. II for any other machine! :) NATURALLY it's a pleasure to use a machine that a person is comfortable with, etc... But just saying that if each individual spot were flagged and pointed out, most any machine could have gotten them.

But this would just lead down a rabbit trail of "ford vs. chevy", haha.

I've been in situations where I'm in a "dig all" (except iron) mentality, yet STILL want/love TID. At first blush, this sounds contradictory: If a person fully intends to dig all conductors, then what the h@ck good is TID needed for ?? But for some reason, it just makes it more fun. And you will subconsciously start favoring the better sounding bolder signals. And thus make subconscious choices of what to dig, vs what to pass, EVEN though you're telling yourself "I'm going to dig all conductors".

This happened to a friend and I, and was a real eye-opener: He was using a 6000 di pro (with no tone ID, only the bouncing needle to watch), and I was using my Exp. II (with tone ID). We were hunting during the night, so ... he couldn't really see his bouncing needle. But no problem: We're in a relicky "dig all" site anyhow, right ? Yet night after night, I'd spank him 2 or 3 to 1 on coin and button counts. But when we'd go to count our OVERALL target count (including aluminum can shrapnel in this furroughed ag field), we would have approx. the same amount of targets as-a-whole. Why then was I get 2x to 3x his # of coins/buttons then ??

He accused me of "cherry-picking" (since I had tone ID). Which I vehemently denied. In my mind, I was "digging all" just like him. So it remained a mystery to both of us, why I kept spanking him. Till eventually the light began to dawn on me: Even though I was *thinking* I was "digging all" (not consciously passing flittly junky sounding targets), yet SUBconsciously, I must've been doing it. Because in this particular field (which gave up scores of reales and buttons), there was, in the beggining, NO LACK of signals to choose from. So subconsciously I must've been favoring the "round" sounding ones. And perhaps flittly foil or can shrapnel (which can be long and thin), is not "round" sounding.

When this truth became apparent to both of us, he immediately went to the nearest Minelab dealer in our state, and plunked down cold hard cash on an Explorer as well. Doh !
 
Tom, thanks for taking the time for thoroughly explaining this whole gold coin thing. In my book anyone who found 14 of them is definitely an expert on the subject.
Appreciate posting the pics also. I know your comments enlightened me and i'm sure others here too.

The thing about stage stops is interesting and just how people lost their gold coins at them. I'd think if one carried their life savings or a portion thereof in gold while traveling to resettle out West, they would keep close tabs on it. Real close tabs.

But then again, i recently lost every stink'n credit and debit card. They apparently slid out of my worn out wallet when making a cash purchase at a gas station.
Didn't discover they were missing until i had to use them an hour later. Luckily i went back to the gas station and some honest person turned them in.
You could say those credit cards represented a portion of my life savings and yet i carelessly lost them.

As you mentioned it makes sense that the vast majority maybe all of the people who visited parks and fairgrounds in the 1800s on up would not carry their life savings in gold coins with them, way too valuable.

On the subject of stage stops a personal FYI.
When i was living in Southern Ca. years ago, a buddy and me were researching long gone stage coach depot sites in the middle of the desert. Moved back East and never got a chance to search them. Looks like a missed opportunity especially since this was back in the late 70s when detecting was in its infancy.

Last year i researched a stage stop about 3 miles from my property line as the crow flies.
Not only was it a stage stop but also a post office and tavern from what little info there is about it. Its got to have some oldies buried at that site if i ever find it.

It was located on an old diagonal Indian trail then later a settler's wagon trail. It was not located on a present day County road which makes it near impossible to accurately locate. In the early to late 1800's that wagon trail was the main route for connecting two large settlements. The old maps that show it are crude with obviously no County roads back then or no early/present day reference points to correlate.

Based on my research, i did triangulate the site to a 1/4 X 1/4 sqr. mile area now all corn fields and hilly woods with lots of ticks and coyote crap in those woods.
No trace of the old wagon trail. All i found so far are sqr. nails likely from long gone trapper's/hunter's cabins and a couple harmonica reeds. Still a work in progress.
 
In 30+ yrs. of detecting I have only found 2.
The first was a Mens Gold Nugget ring size 10-1/2 10K little over 9.5 Grams with a 1/10 Gold American Eagle coin in the center.(Gamma 6000 came up in 60's I wanna say it was a consistent 63)
2nd. was a 1915 U.S. Gold Indian Quarter Eagle in VF (Delta 4000,low 60's again) This is also my oldest coin to date,previously title was held by 16-P Merc. & Teen Wheats
And I've dug my weight in pull tabs and scrap Aluminum since then.Plus the occasional Gold ring.
Hang in there Gl & HH
 
UK Brian said:
.....in excess of two hundred.

huh ? Are you saying you've found over 200 gold coins ? Excluding caches & ones mounted in jewelry ?
 
You should know as I've used many of the finds as my avatar on the other large forum. Didn't count coin mounted rings which would add several more. Secret is to accept more iron which is not as bad as it sounds as iron can make better displays than coins.
 
Look at all those yella gold coins! :clapping:
UKBrian, don't take this the wrong way but here in the States, it would be a near impossibility for any of us ordinary detectorists here to find that many gold coins excluding ship wrecks, caches 'n hoards, etc.

Been pounding this old 'hunted out' park on and off the last couple years where i found a couple seated's, a few barbers, mercs and indians. Not many left, slim picken's, not even clad hardly anymore. Get skunked there more often than not.

Anyhow was out there a few days ago digging what turned out to be another stubby corroded nail when this old timer shows up and starts up a conversation.
Turns out he's an avid detectorist and said he has hunted that park for decades and found hundreds of oldies including a gold coin.
Even had a pic of that $3 gold piece on his cell phone.

Just my luck, likely the only gold coin in that whole park and its been dug up! :surrender:
 
It appears you've counted caches ??

Thus what is your gold coin count if you only count individual fumble fingers coins ?
 
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