Wheres the gold???

[nyiangelo]

Where's the gold

So pretty simple question. I've been wondering why I see people posting old silvers coins all the time, but very rarely gold coins. It was carried around and spent just like the other money back then so why is it that it's so hard to find. Opinions


EDITED to clarify

 

[Seamuss]

Re: Where's the gold

I find some gold. Up one creek and down another. Oh, I'm sorry,Your probable talking about gold coins. Some people have been lucky at finding gold coins. Unfortunately, I'm not one of them...yet.

I'm not to sure if I answered your question or if I'm am even close.

 

[Markinnsprings]

Re: Where's the gold

I think we find more silver than gold for the same reason we find more pennies than halfs. You tend to hold on to the more valuable coins a lot tighter. At least I do.

 

[Lowbatts]

Re: Where's the gold

mintage and distribution. Compare number of wheaties minted and circulated to that of buffalo nickels or quarter eagles or 100,000 dollar fed notes (for those in the Pacific)

 

[Jeep]

Re: Where's the gold

Silver and Gold, Silver and Gold

Post the Gold, go ahead and be Bold

Take the chance on the authorities putting a Hold

On your Gold because you told of your Hoard

On a Public Board

Just maybe this is why you see more

Silver then Gold, Silver then Gold.............................

 

[mlayers]

Re: Where's the gold

If I would find a gold coin. I would post it.....Matt

 

[sniffer]

Re: Where's the gold

silver rings up pretty strong while gold rings up low

 

[Tom_in_CA]

Re: Where's the gold

I've found gold coins before, but they are very hard to find. I'm guessing that gold coins weren't carried like pocket change pennies, dimes, etc... were. A coin like a $5 gold piece would be an entire week's pay to a miner or logger in the 1880s! So I believe that they were only pulled out when you got ready to make a big purchase - like a horse, or down-payment on land, etc.... Not carried willy-nilly like pocket change. If you ever read about old real-estate deals from the 1800s, you see references like "downpayment of $200 paid for in gold coin to Mr. such & such".

I guess to loose a $5 gold piece back then, would be like us today loosing $500 :P Sure it can happen that you were carrying around your paycheck, and lost it. But basically you take your check to the bank, cash it, and have smaller change (bills and coins) in your pocket, not the whole paycheck.

 

[midnightmoon]

Re: Where's the gold

Blame:
Executive Order 6102
The Gold Confiscation of 1933
People were allowed to own no more than $100 in gold coin.
The fillings in their teeth--they could keep.
Folks actually gave up coinage because the penalty was up to 10 years in the pookey.
Sooo...
[gold coins are hidden really, really, really, really good!!!]

 

[nyiangelo]

Re: Where's the gold

Yeah but that still gives 100-125 years of circulation. I think I'm leaning towards the low mintage and that was a lot of money back then.

 

[BIG61AL]

Re: Where's the gold

I think that gold coins were not used for everyday useage as much as silver coins. I think gold was saved and used on larger purchases or simply banked. Plus a common coin , like the $2.50 Indian head gold coin is only about as big as a dime....that's pretty small. That size is a lot easier to disappear than a Morgan silver dollar and might ring up as trash on your detector.

 

[Tom_in_CA]

Re: Where's the gold

Big61al, I don't think the lack of gold coin finds is due to people disc'ing them out (d/t their lower conductors). I mean, there's a LOT of guys hunting relicky sites, where they only disc. out iron (and in some cases, not even disc'ing out the iron), yet they don't find gold coins. I still think the reason is that they simply weren't pulled out till a person went to make larger purchases (a horse, downpayment on land, etc...).

And mid-night-moon, the 1933 law didn't affect their loss-patterns, as they are scarce at ALL stratas & eras, NOT just at post 1933 stratas/sites. I wish the 1933 law were the reason, because I strictly hunt pre 1933 sites, and I can tell you, they're scarce at every location, no matter what the age of the site

 

[johnnycat]

Re: Where's the gold

I'm wondering, of all the gold coins found by metal detecting how many were found loose versus in some type of container??