Home U.S. Coin Forum

It's Black Friday: Post your post-Civil War gold to commemorate the Panic of 1869!

WeissWeiss Posts: 9,941 ✭✭✭✭✭

For centuries, the adjective "black" has been applied to days upon which calamities occurred. Many events have been described as "Black Friday", although the most significant such event in American History was the Panic of 1869, which occurred when financiers Jay Gould and James Fisk took advantage of their connections with the Grant Administration in an attempt to corner the gold market. When President Grant learned of this manipulation, he ordered the Treasury to release a large supply of gold, which halted the run and caused prices to drop by eighteen percent. Fortunes were made and lost in a single day, and the president's own brother-in-law, Abel Corbin, was ruined.

We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file