Hello from State College, PA! So many questions I don't even know where to start. I've been doing this for about a year now, buying coins here and there on ebay and local antique stores. I bought a metal detector to augment my hobby and it takes up quite a bit of my time, perhaps more than it should. So here are the questions I have: 1. Back in the 1700-1800's, were gold coins commonly used as circulated coinage like we use quarters today, or were they used more among the well-to-do? I've been wondering this for a week now because it seems that people find silver coins with their metal detectors, but not so much gold. 2. I buy coins as a long-term investment for my son. I try to focus on silver dimes because I can afford a few of them at a time, and they'll appreciate in value. Is this a good investment strategy, or should I be focusing my efforts on things like silver certificates, Morgan silver dollars, Walking Liberty half dollars, etc? 3. I'm thinking of getting a $100 banknote every so often. I know that you can buy proof coins, but do bills and other paper money have a proof as well? Thanks for your input!
gold coins didn't circulate all that much and it was mostly the $2.50 & 5s. plus it was serious money and not many people lost them outdoors where you'll find any. dimes are as good any .90 silver to stack, some say better 'cause of the lower value if it ever gets to a SHTF situation. old bills, well not for me but many like them.
You have good questions and you will receive plenty of answers at Cointalk I think. #1 Welcome to Cointalk. Yes, gold coins were used & circulated back in the days of old. They were valuable coins and were not casually lost as often as lower denomination coins. You might search Cointalk for threads about "metal detecting". Be careful about mixing "coin collecting" with "investing". Again, search for past threads about "investing". In general, coin collecting is a terrible investment but it can be an enjoyable hobby. Please read the book before you buy the coin. You can also post coins here BEFORE you buy them for opinions on the coin. I'll send you a private message with my cell phone number. You are welcome to call & discuss coin collecting. This forum is the perfect place to post all your questions but if you ever want to talk coins, feel free to call.
1) Think of gold coins back then in a similar fashion to $500 bills today. You *might* see one or two in circulation, but it'd be very rare. Remember, a silver dollar was a day's wages from 1840-1910 (give or take), so a $20 double eagle would be the equivalent of a month's pay. I can't imagine anyone walking around with that kind of money in their pocket as a regular thing. 2) Don't view coin collecting as an investment. You'll be disappointed if you do. If you're planning on leaving something for your son to liquidate in 20 years, you might be better off buying bonds (or maybe stock) issued by a local utility company that you're fairly certain will be around to pay it off. 3) Not in the technical sense, but they do have "specialty" notes that are issued by the Bureau of Engraving and Printing ("BEP" - the Treasury's note equivalent of the US Mint). Your best bet may be to just befriend a bank teller or manager and explain your plan. They might be able to save a nice $100 bill for you when their annual order arrives just before Christmas.
Welcome to CT and coin collecting. Or to the civil war of the mind in the case of coin collecting/investing. IMO, the link is the first book every new collector should buy, even before the Redbook. http://www.amazon.com/Experts-Guide...qid=1376849644&sr=1-3&keywords=q+david+bowers
