Romanian Coin

[dan_h]

I was detecting a bark chip area this morning using my Garrett Gold Stinger and found a Romanian 1 ban coin. The coin is attracted by a magnet: it apparently has a steel core under a brass exterior. When I tried my new GTI 1500 with it, Coin Mode would not sense the coin. In Zero Discrim it would read in the iron range.

 

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[Tom_in_CA]

Mexico has coins that are iron now too, in the last 10 or so years. Man, I thought the USA was chincy/cheap when they went to zinc pennies, but iron coins are about as low as you can go

 

[U.K. Brian]

All the U.K., in fact most of the European copper coins, are a thin copper wash over an iron or steel core.
Doesn't cause to much trouble with most machines except on salt beaches where the bronze finish starts to peel off.

 

[diggerfororo]

Hi Guys and Gals: Did you know pure nickel is magnetic. Some of the (iron) coins are really mostly nickel clad. (Canadian Coins)

Les

 

[dahut]

Man, I thought the USA was chincy/cheap when they went to zinc pennies, but iron coins are about as low as you can go

Dont be too sure. I have some Belizean 5 cent coins made of aluminum. This stuf really IS nothing more than play money.

 

[rayredditch]

I wonder what would happen if all the people wanted to have their money exchanged into real gold, as in the worth the coins are supposed to have at face value ?
I think a lot of countries couldn´t pay it !
HH Ray

 

[dahut]

There is no doubt of it. A country would go broke long before it could meet its obligation to pay on its coinage. In truth, they do not have the obligation to make good on it at all.
Coinage is for the convenience of trade and commerce, and nothing more. The government makes money selling it to us, while not actually backing it - and I don't believe they even have the obligation to issue it!

I dont know what your Brit money has on it, but US currency no longer even claims to be worth anything. It used to state that it was payable on demand, whatever the face value was.
Now it is a "Federal Reserve Note," that is, a note issued against something of value, reputedly held in reserve.

 

[Michigan Badger]

Yepper, the money situation is really weird.

Today iron money, tomorrow plastic, the next thing we're all back to caves and clubs (golf clubs).

"It's a sad commentary on a disintegrating society."

Badger

 

[rayredditch]

I think it won´t be too long before people start getting fed up of all the tax money they pay being withered away by politicians on idiotic projects, and will start reverting to the barter system. (You service my car, I´ll build your wall, you put my new bathroom in, I´ll do your garden, etc)

 

[Michigan Badger]

I think it won´t be too long before people start getting fed up of all the tax money they pay being withered away by politicians on idiotic projects, and will start reverting to the barter system. (You service my car, I´ll build your wall, you put my new bathroom in, I´ll do your garden, etc)

A agree. Right now the best way to beat the feds is to do ebay.

Badger