Do you question whether caches exist?

[Tuberale]

Found this inside a May, 1978 issue of World of Treasures magazine - something I think all treasure hunters and metal detectors should know.

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RIVERSIDE, CA - Riverside Treasure Hunters -- According to the Treasury Department 31 percent of the nations cents are socked away in piggy banks, old jars and dresser drawers. Another 10 percent are listed as lost (here's where we come in).
German silver is composed of nickel, copper and zinc. In fiscal year 1976, the US Mint used 50,299.8 tons of copper, 2,489.12 tons of nickel and 1,579.50 tons of zinc in producing coins of the realm.
Watch your cents for lucky finds. Recent cents to look over closely at 1955 and 1972. Both are products of the Philadelphia mint (No mint mark). The valuable ones are what are called "double dated." It's difficult to describe here, but if the date looks cockeyed and doubled (one over the othr), you might have a winner.

 

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[Tuberale]

Largest U.S. coin cache? (Was Do you question whether caches exist?)

From: 2006 U.S. Coin Digest, in 1976 the US made (minted) 4,674 million 1976 cents, 4,221 million 1976D cents, and .004 million 1976S cents, for a total value of 8,895 million cents, worth $889.5 million; 367 million 1976 nickels, 563 million 1976D nickels, and 4.1million 1976S nickels,for a total of 934 million nickels worth $46.7 million; 568.7 million 1976 dimes, 695.2 million 1976D dimes, and 4.4 million 1976S dimes, for a total of 1,267 million dimes worth $126.7 million; 809 million 1976 quarters, 860 million 1976D quarters, 4 million 1976S clad quarters, 4.9 million silver-clad 1976S uncirculated quarters, and 3.9 million 1976S proof quarters, for a total of 1,682 million quarters worth $420 million; 234 million 1976 half dollars, 287 million 1976D half dollars, 4.9 million 1976S 40% silver uncirculated half dollars, and 3.9 million 40% silver proof half dollars, for a total of 537 million half dollars worth $268.5 million; 117.337 million 1976 dollars, 103.228 million 1976D dollars, 2.909 million 1976S uncirculated dollars, and 4.149 million proof dollars, for a total of $221.623 million dollars. Add them together, and the US minted $1.973 billion in 1976. At least 10% of those have been lost, or $197.3 million worth.

Actually, those figures are underestimated IMO. The US Mint suggests most common coins do not circulate for 20 years. So by 2011 almost all of those non-silver coins have been lost or otherwise removed from circulation. Well over $1 billion for 1976 alone!!! I propose this is the largest coin cache in the United States.

 

[Connecticut Sam]

I really hope to find at lease on cache in Connecticut this year. [email protected]

 

[EagleDown]

To add a small tidbit to Tuberals post; I vaguely remember an artical in a numistic journal, possibly 1971, that by the U.S. Mints estimates, "Over 12 million dollars in U.S. coinage is lost every year.
It didn't mention if the coins were dropped, or squirreled away

That's a whole bunch of pennies.

Eagle

 

[Tuberale]

Indeed it is! The mint wasn't making nearly as much coinage as it currently is back in 1978. And zincolns were still relatively new at that time. Probably more people even collecting 'em then.

Is it any surprise that the coinage that used to have some semblance to actual money, back in '64, is now worth almost exactly the nickel it is printed on, but you can't melt?