What are the odds of finding a gold coin?

[ZumbroKid]

I heard several different versions of the answer to this one. What ones have you all heard?

 

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[Michigan Badger]

I heard several different versions of the answer to this one. What ones have you all heard?

I'd say 1 chance in 100,000 in most locations.

However, do research and locate and hunt areas known to use gold coins and you may be looking at 1 chance in 10,000.

Hunt affluent (wealthy) beaches and you may get up to 1 in 5000.

Let the games begin

 

[tallpaul]

interesting this one,, what are the odds, the odds really depend on your area what country your in and so on,, and getting that coil over one, ive found roughly over 6000, coins, and i have one gold coin, and its reported that here and abouts there were plenty being used,, then some guys i know have 6, 7, 8, of em, so i guess its luck of the draw who detects where they are, we must all remember we aint never going to fully clear a piece of land especially plough fields, because what the plough brings up ,, it also sends some further down, then sometime to come it will fetch some back up, and so on, this is why we see people finding great coins and they have been over it once before, and knew they'd done it well, the plough is a taker and a giver,. so what are the odds LOL, this is a good one, my odds at the mo are 1 to 6000,. yi-----kes. and the guys i know of who have found many and found in total around 6000 coins also well 1 to a 1000, and less, still alot of coin to find before the gold,. someones gonna find a gold coin now,, he he hopefully me again,. HH guys Paul.

 

[DigEmAll]

The mining town up the road used gold coin for payroll purposes in the mine up until about the twenties. Odds of finding a gold coin here seem to be pretty good. A friend of mine has a son that just started detecting about three years ago. A while back, he found two gold coins on the same day just feet apart. It was on the cleared sight of a saloon that was in operation during the heyday of the mining. Now, if only I could be sooooo lucky!

 

[ZumbroKid]

actually gold coins were used eveywhere in the u s at some time. Best is a place that is from before 1900, this was the day when heavy drinking was the norm. To get falling down drunk was common.

 

[Michigan Badger]

actually gold coins were used eveywhere in the u s at some time. Best is a place that is from before 1900, this was the day when heavy drinking was the norm. To get falling down drunk was common.?

Yes, this is correct. I personally hadn't thought of this fact.

The 1890's were the era of the great women?s Temperance movements due to the extreme alcoholism of the times.

Good point.

 

[bk]

In my case, its about one every 35 years.
Ask me again in another 10 years.

 

[ZumbroKid]

BK, on the phone you said yours was found where an old saloon once stood. How far back was the saloon torn down?

 

[bk]

The school was built in 1916. he coin was dated 1909.
The saloon was on that site prior to 1916.

 

[Monty]

I hope bk is wrong. I'm 61 and may not be able to hunt another 35 years! I can only hope! Monty

 

[Michigan Badger]

Most gold coins are found purely by accident. Those who spend the most time hunting in potential locations stand the best chance.

 

[ZumbroKid]

Odds are best when one is willing to dig what are normally junk signals. Junk signals if they are not a gold coin or ring, can often be other valuable collectables.

 

[grizzly bare]

If you're looking in the average park, odds are very low. If you are willing to do massive research, travel to the "best" spots, and dig all signals, odds go up dramatically.
In Warrenton, where I live...odds about 1 in 100,000 coins. If I was willing to go to SouthWest or West and hunt packrat nests, probably 1 in 30,000. If I was willing to go to specific areas in Florida or Texas waters, maybe odds would drop to one in 25. If we could go to Great Lakes or ocean salvage odds would drop to almost certainty. RESEARCH, RESEARCH, RESEARCH and then swing that coil. They're out there.

grizzly

 

[Monty]

For me, I have about as much a chance of finding a gold coin as finding a diamond in a goat's a$$!? You have to remember I am living in what was the dust bowl during the Great Depression.? Not very many people had gold coins when they were in circulation and many have never even seen one.? In those days if one were to drop a gold coin he/she would be down on their hands and knees, probably along with half the neighborhood and would look until it was found!? Back in the earlier days when Oklahoma was Indian territory, there were only three types of people that had gold coins, the railroads, the banks and the thieves!? If anything was lost it was probably by the thieves and it was probably scooped up by worse theives!? Come to think of it, the railroads and banks were likely bigger theives than the outlaws!? Or at least that's what the common folk thought.? That's why so many outlaws became famous. I won't find it because it probably ain't there.? But I will keep looking!? ?Monty

 

[stoney56]

The school was built in 1916. he coin was dated 1909.
The saloon was on that site prior to 1916.

That's a big part of it. If you are looking for a rare coin, chances are you won't find say a 1916D merc. in an area that wasn't around until say the 1940's. Remember during the days of the 1800's-early 1900's that $20 was for the most part, a whole months pay. The larger gold coins ($10 and $20) were more likely stashed than spent. I believe this is the reason that more single $2.50 and $5 gold pieces are found. The $1 gold coin is very small and even harder to detect than a 3 cent silver.

actually gold coins were used eveywhere in the u s at some time. Best is a place that is from before 1900, this was the day when heavy drinking was the norm. To get falling down drunk was common.?

Good point. Saloons, gambling establishments, and brothels are IMO some of the best areas to hunt as the old saying goes, "A fool and his money are soon parted."

 

[Michigan Badger]

Odds are best when one is willing to dig what are normally junk signals. Junk signals if they are not a gold coin or ring, can often be other valuable collectables.

I've been reading your post and I'm betting you've dug your share of gold and maybe even a gold coin. I can tell you've been at this for a time.

Since I don't work parks much anymore I dig almost everything. If the ground is filled with iron (such as old home sites) I may discriminate it out but many good things are made of iron.

Today I do mainly fields so I work block areas throughly instead of running from one end to the other swinging the coil like it was a sickle. I keep notes and then return to hit the areas I missed.

Treasure (including gold) can be anywhere. People can lose things most anywhere.

My favorite places to hunt are those that are pretty much unchanged over the last century. Then I look for 200+ year old tress (we have some 350 years old). People got knocked off their horses by low hanging limbs, etc.

Gold coins are very heavy and horses are very bumpy rides (hint hint)?

 

[ZumbroKid]

I do not hunt parks either Zeb, less i have no where else to go. Parks are the first place anyone goes, finds are there but they are few. Only major reason i would hunt say copland park here in town is, several business once stood there. Then they would have to do some major landscaping there so the lower levels are huntable.

 

[jeff of pa]

to ZumbroKid ;

I've been reading your post and I'm betting you've dug your share of gold and maybe even a gold coin. I can tell you've been at this for a time.

He actually Found The Coolest Gold Coin, I'v ever Seen Posted.

 

[ZumbroKid]

Here ya go Zeb,

 

[Michigan Badger]

Dahlonega Mint! WOW!

If I found one of those I'd never sell it unless it meant survival or starvation.

You have any idea what the odds are against finding one of those? I'd say it's at least 1000 times easier to find a common mint $5 gold piece than a D mint!

I've never found a gold coin but I've been very close. Others around here have found them but my coil just wasn't in the right place at the right time.

Back about 30 years ago I heard of a guy finding a $20 gold piece in a park in Grand Rapids, Michigan (as I recall). In our state I'd rate old Grand Rapids and the old parts of Detroit number one bet for a gold coin. But good luck making it out alive in those areas? You'll dig 100 booze caps per find but the goods are there.