No I don't think there were ever many in the ground.
People very seldom lost a penny much less a gold coin.
My uncle was born 112 years ago.
Before he died I took him and his little sister (my mother) to their old home site. It's in the middle of no where. He was the oldest of twelve kids and my mom was the youngest. This was 24 years ago.
I had my old Technatics with me and I started searching around the old house site. Nothing but a field there now. But it was close to an old dirt road.
My uncle asked me what I was looking for. I told him I was looking for old coins or something. I said "kids loose money and stuff all the time". He said don't bother. When I asked why he said. " When I was a kid I never had any money. I mean not a penny. We didn't know what money was. If my mom and dad ever had any, I didn't know about it. The first time I had any money in my hand was when I was 16 years old. I left home and got a job making $0.25 a day. I worked at a rock crusher from sun up til sun down. I learned to cut hair and later I later got a job cutting hair. I got $0.50 a day for that. I got a part time job and was making $0.75 a day. I was in tall cotton, and in high standing in the town."
We drove to the cemetery and they were walking around so I started searching around the old church site. An old man in a pick up showed up and asked me what I was doing. I told him I was looking for old coins with my metal detector.
He was telling me how they didn't like outsiders coming around there. I interrupted him and said "let me introduce you to my mother and my uncle they grew up around here."
When I introduced him, his eyes lit up and he said " MILDRED " . That's my mom's name.
It turns out my mom was his first love
. They dated when he was 19 years old and she was 14 years old. ( that's how they did it back then ).
He started acting like a little kid and was flirting with my mom. I asked him if I could metal detect and he said " do what ever you want to kid ". I was 35 years old at the time.
I did find some silver there, but it was from the 1940's. After the depression and during the US industrial boom.
That's one reason it's hard to find a gold coin.
HH,