Anyone else look at an old US coin and think that's crazy?
csdot
Posts: 695 ✭✭✭✭
Anyone else look at an old US coin and think that it is crazy that we will never be able to experience receiving real MONEY the way people did prior to 1934.
Or that it is crazy that we once valued this amount of gold at $2.5*?
- Or a different denomination depending on the gold coin you are admiring?
6
Comments
I do not own any gold but I own some very early large cents. I'm up to six now from the 1700s - three 96s, one 97, and two 98s. It's a crazy feeling holding them in your hands and knowing you're holding early US mint history that circulated from the end of the 18th century to the beginning of the Civil War. Especially so with the Liberty Cap I have. I'll be at a coin show this weekend and there is a local early dealer who shows up, can't wait to see the Flowing Hair and Draped Bust silver he has in stock. Would love to get either a 1794 Large Cent or a Draped Bust Half next.
"You can't get just one gun." "You can't get just one tattoo." "You can't get just one 1796 Draped Bust Large Cent."
I don't know about crazy but sometimes wonder how fun it would be to be there and spend it just to get more back. Just saying
Somehow I doubt even at the time gold coins were actually used at face value (for the most part). At least in the early 20th century. After all, according to usinflationcalculator.com, even a $10 eagle (and the lowest gold certificate denomination, yet in the 20th century it was the highest silver certificate denomination) is the equivalent of about $225 in today's money. I don't reckon most people at the time could afford or would be crazy enough to carry around that much money.
I mean weren't there coin collectors who prized gold coins (if they could at all afford it) as well? Even with the 1933 FDR decree you were in fact allowed up to $100 in gold coins and/or what they called "coins of collectible/historical value). I guess to be sure that gold coins would not be completely lost forever.
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 241,435,610,654 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
I was not around when gold coins circulated as currency... However, I was around when silver coins were common currency. Looking at a WLH now, knowing I carried them as ordinary coins as a kid, produces the same feeling as the OP describes. Silver dimes, quarters, halves and dollars were common and exchanged at face value then. Cheers, RickO
When your money has to be backed by gold, it sure seems to keep government stupidity in check. At least a little. Governments are parliaments of whores and with money being backed by nothing, there is no end to the bad decisions and waste.