Bob, to answer your question, ANY park that's "100+ yrs. old" and is getting tractor work done, is worth time to try
So a couple of thoughts: the courts from the 1960s may not have perfectly "capped" an un-disturbed layer underneath them. There may have been extensive scraping out in the 1960s, thus carting off any older coins, and filling a base-layer... beneath the courts, of compacted DG. You should be able to tell by looking to see if the soil has a "native" appearance, or a "fill dirt" appearance.
If it is native dirt, it still may have been scraped too deep either now, or back in the 1960s, and you're still looking at sterile dirt, from the results of scraping too deep in the 1960s.
Also, you say they "bulldozed 12" , but are you sure it's not just bulldozed around, yet left in place? You can compare to the grade of the surrounding un-disturbed soil (adjacent sidewalks and turf, for example) to see if they're truly deeper, or if they just "did donuts" with their tractors that appears to be 12" deep, but is simply loose fill-dirt still left in place, and thus not deep enough.
You also don't make clear if they've only demolished the existing courts, yet have not cleared land yet, for the 4 new ones (to be added to the 4 existing ones, to make the total of 8 ). If they haven't yet scraped off to get ready for the incoming 4 new ones, be sure to be there for that RIGHT on the first night they scrape. Because they may quickly add fill-dirt DG the very next day. And perhaps a virgin scrape on un-disturbed (ie.: no previous tennis courts) may be good, since it's not been previously scr*wed around with, as an existing new tennis court would have been.
I got in on the tail end of such a scrape, in San Francisco, at Delores Park years ago. They notched into a slope, to make ready to install hand-ball courts. So at the front of the scrape, it might only have been a few inches deep. But the further back it got, the scrape went deeper (since it was being installed where there was a slope/hill). By the time it reached the back-most part of where the courts were going in, the cut was several feet deep (guaged by comparing to the existing turf). It was quite an eye opener! At the beginning, where they just started to shave in, was still clad, and '50s wheats. Then you'd walk a little further in, to where it was reaching 6 to 10" deep, and it was '20s/30s stuff. The going further, was the IH's, barbers, seateds, etc.. Then going a bit further, and ....... it became sterile! I only got in on the tail end of that, after several other guys had hammered it. But from talking to them, it appeared that well over 100 silver coins and hundreds of wheaties, buffalos, V's, etc.... had been pulled from there for those who stumbled on to it first.