Gold Coin

southfork

Bronze Member
Jun 15, 2014
2,299
7,478
California
Primary Interest:
All Treasure Hunting
I was going through some of my collection and thought about this old find . Artifact Jack and me were dredging for gold on the south fork of the American river in Coloma California where the gold rush started . When this coin showed up in the riffles it was my dredge and I wanted the coin so I gave Jack half the estimated value at the time . This is when it was legal to suction dredge as a great hobby this must have been forty or more years ago when we found this five dollar gold piece . Summer an Low water year and no wetsuit needed trouble maker rapid we found plenty of pickers too but that was a day maker . New photos of old gold .
 

Attachments

  • PC194195.JPG
    PC194195.JPG
    899.3 KB · Views: 163
  • PC194194.JPG
    PC194194.JPG
    494.6 KB · Views: 144
  • PC194193.JPG
    PC194193.JPG
    1.2 MB · Views: 135
  • PC194201.JPG
    PC194201.JPG
    1.4 MB · Views: 146
  • PC194197.JPG
    PC194197.JPG
    1.4 MB · Views: 118
Upvote 0

bug

Full Member
Jun 5, 2008
236
392
Nor Cal
Primary Interest:
All Treasure Hunting
Nice find! I remember a big floating dredge, like a mini house boat, at troublemaker back in the early 1990s
 

mytimetoshine

Bronze Member
Jun 23, 2013
1,574
3,370
El Dorado County
Detector(s) used
GRIZZLY GOLD TRAP - ANGUS MACKIRK EXPLORER- BLUE BOWL - GOLD CUBE, MINELAB PRO 25 PINPOINTER-
Primary Interest:
All Treasure Hunting

dredgernaut

Hero Member
Dec 27, 2012
560
1,439
wisconsin
Detector(s) used
whites mxt, tesoro lobo super trac., monster1000
Primary Interest:
All Treasure Hunting
wow, pristine condition for a coin that spent 150 yrs or so in the river getting tumbled over. nice find
 

IMAUDIGGER

Silver Member
Mar 16, 2016
3,400
5,194
Primary Interest:
All Treasure Hunting
Gold coins were in pretty short supply in 1845!
 

Asmbandits

Bronze Member
Mar 4, 2014
1,039
2,290
NorCal
Detector(s) used
Fisher GB2, Bazooka Prospector 36", EZ sluice, Blue Bowl..
Primary Interest:
All Treasure Hunting
absolutely amazing find!
 

IdahoGoldGettR

Full Member
Mar 13, 2014
161
663
Idaho
Primary Interest:
Prospecting
It doesn’t get any better than finding gold where the old timers did and also finding a piece of history to go along with it. Very cool. Thanks for sharing the photos and the story.
 

dredgernaut

Hero Member
Dec 27, 2012
560
1,439
wisconsin
Detector(s) used
whites mxt, tesoro lobo super trac., monster1000
Primary Interest:
All Treasure Hunting
the fella that lost it probably went down with it. and floated away over time. I have dredged up change then later that day I dredged up old bones. that scared the hell out of me. started imagining all kinds of stuff , like creature from the black lagoon. I almost could walk on water I got out so fast. they were not human after all . thank goodness. lol. the change was probably from a car accident or something . many cars end up in that river every year.
 

Goldwasher

Gold Member
May 26, 2009
6,077
13,222
Sailor Flat, Ca.
🥇 Banner finds
1
Detector(s) used
SDC2300, Gold Bug 2 Burlap, fish oil, .35 gallons of water per minute.
Primary Interest:
All Treasure Hunting
I know a guy that found an 1853 double eagle pretty close to there.

Gold coins were heavily circulated in the 1840's and 1850's Not as much as silver and copper. But, there were millions of them.
When you consider the population at the time. They were often carried.

The Army paid in Gold and Silver. Enlisted paid in silver Officers got Gold and Silver.

The infux of gold during the rush actually made silver coinage sought after affecting circulation and increasing its value.
The weight in silver of silver in coins was actual adjusted at this time to affect hoarding of silver coins.

There were A lot of would be and actual prospectors walking around with gold coins during the 1850's

There is a difference between minted and circulated.. the circulation affects value (rarity)

I've sold about thre pounds of silver coins. Though I wish I had waited a few years cosidering what I paid and when I sold.

You will never get deals on gold coins like I did on silver. I still beat myself up over it.

There are a lot of coins lost and not found and in my opinion many more buried in mason jars that are still there. A whole heck of a lot on old homesite's that have since been built over.
 

dredgernaut

Hero Member
Dec 27, 2012
560
1,439
wisconsin
Detector(s) used
whites mxt, tesoro lobo super trac., monster1000
Primary Interest:
All Treasure Hunting
probably a week or so in wages with overtime.
 

Goldwasher

Gold Member
May 26, 2009
6,077
13,222
Sailor Flat, Ca.
🥇 Banner finds
1
Detector(s) used
SDC2300, Gold Bug 2 Burlap, fish oil, .35 gallons of water per minute.
Primary Interest:
All Treasure Hunting
probably a week or so in wages with overtime.

I have a reprint of a journal from a guy that worked my creek and general area. 1853-58

He had a ledger. Almost four ounces to net $70 or so bucks

Paid off bills. $50 bucks for the months water. $15 for lumber. Not much left for a shovel.

Three plus ounces dug by hand in a month was not worth as much back then as it is today. as far as I'm concerned
 

Last edited:

dredgernaut

Hero Member
Dec 27, 2012
560
1,439
wisconsin
Detector(s) used
whites mxt, tesoro lobo super trac., monster1000
Primary Interest:
All Treasure Hunting
sounds like my life. lol
 

mytimetoshine

Bronze Member
Jun 23, 2013
1,574
3,370
El Dorado County
Detector(s) used
GRIZZLY GOLD TRAP - ANGUS MACKIRK EXPLORER- BLUE BOWL - GOLD CUBE, MINELAB PRO 25 PINPOINTER-
Primary Interest:
All Treasure Hunting
50 bucks for water. the real gold in some areas
 

Goldwasher

Gold Member
May 26, 2009
6,077
13,222
Sailor Flat, Ca.
🥇 Banner finds
1
Detector(s) used
SDC2300, Gold Bug 2 Burlap, fish oil, .35 gallons of water per minute.
Primary Interest:
All Treasure Hunting
50 bucks for water. the real gold in some areas
it was his biggest monthly bill everytime he mentions it.

whats crazy too is the amount of work they did. Digging races through rock to set up sluices, building cabins selling them moving often. so, much work not actually digging for gold.
 

dredgernaut

Hero Member
Dec 27, 2012
560
1,439
wisconsin
Detector(s) used
whites mxt, tesoro lobo super trac., monster1000
Primary Interest:
All Treasure Hunting
I drive 2 days 15 hours each. just to get there . spend 1 day setting up and getting ready. 1 or so days digging before I even start running material. I feel tired before I even start seeing gold. Then after a couple weeks of super hard work I gotta undo the whole process. and i am not getting any younger that's for sure.
But they did it on foot by hand. i get flustered when i cant get a good radio station in and thank goodness for air conditioning. lol
 

Last edited:

Gravelwasher

Hero Member
Jan 3, 2011
523
689
El Dorado County
🥇 Banner finds
1
Detector(s) used
Minelab
Great coin, gold and story!!

Really the holy grail when gold searching, you get the gold the coin the whole thing processed and time stamped.

Looks to be in terrific shape for out of the roaring American.
 

beekbuster

Hero Member
Jan 17, 2015
750
1,676
Detector(s) used
gpx 4500
gpz (died in a fire. rip)
Primary Interest:
Other
$70 for 3.5 ounces translated to todays prices= $3125 water bill. i think id make a better profit with a screw driver and a dry pan
 

Gravelwasher

Hero Member
Jan 3, 2011
523
689
El Dorado County
🥇 Banner finds
1
Detector(s) used
Minelab
Kinda like going to the dentist nowa days with insurance. Dr. takes a look says emm 2 bad crowns our other office did for you plus 2 cavities and potentially 1 more crown comes out to $5300 patient cost for a few hours in the dentist chair.

What a scam, just like selling water to the miners, if you need it they jack the prices.
 

Top Member Reactions

Users who are viewing this thread

Top