I'm reading Paulette Jiles' recent novel News Of The World, set in Texas in 1870. I'm only a few chapters along but the historical detail seems generally very good. However, the beginning of the story involves a "fifty dollar gold piece," which is later described as ... a Spanish coin of eight escudos in twenty-two carat gold, and all the edge still milled, not shaved. Now my collecting budget is such that I get by without needing to know a lot about gold coins, but it seems to me the piece described would have contained very roughly 4/5 as much gold as a double eagle, and that therefore it might have been considered to be worth about sixteen dollars, not fifty. Is this a blunder on the author's part, or am I mistaken somewhere? (It may be a very good book, either way.)
In 1877 the mint struck a pattern $50 gold coin, it's in the National Numismatic Collection at the Smithsonian Institution: Dia. 50.8mm, weight 83.58 grams. Mexican Eight Escudo: 37mm, 27.07g Very consistent with your numbers
I just checked my Krause, and your math checks out. Even careful historical authors can make mistakes. Reminds me of the classic John Wayne movie "Rio Bravo". The plot involves hired killers coming into the tiny frontier town where John Wayne is sheriff, in order to kill an important witness before he can be transferred to the custody of a Federal Marshal. We learn that the killers are being paid $50 each, and a key scene involves a $50 gold coin being found on a dead shooter's body, proving that he was one of the hired killers. The coin isn't shown clearly, but appears to be round and much bigger in diameter than a silver dollar. It doesn't seem to match any actual coin of the time period, but I guess they needed something more dramatic than finding two double eagles and one eagle. (The only $50 coins I know of from the 19th century West were some of the privately minted coins, none of which looked like the practically teacup-saucer sized thing shown in the movie.)
Sometimes California Gold Discovery medals from the 1940's are used as prop coins for $50 gold slugs. Here is what one looks like: http://www.cointalk.com/threads/cal...edal-octagonal-slug-pioneer-days-of-49.283120
The $50 octagonal gold slug is my dream coin. Even in VG. I would die a happy man if I found one I could afford.
http://www.apmex.com/product/89846/peru-gold-8-escudos-charles-iv-xf 0.7614 oz of gold vs. US$20 at 0.9675 oz
Dang it... I thought you pulled an old book off the shelf or bought one at a yard sale and it had a hollowed-out space in it with a $50 gold piece!
Well, apparently I have busted the novelist on this minor detail. I still recommend the book. Dougmeister, if only...
Thank you. Storytelling in this book is pure storying. It's rapid chatter supporting much of what history has made of the Olde West. I found your post becuz I wuz looking up "$50 gold piece." (I had chosen Not to recommend it to my tiny book group even tho the guys said, "Tom Hanks is in the movie.")
The Spanish/Mexican 8 escudos gold coins were worth about US $15.50 then, possibly the author confused "fifty" with "fifteen".
My old boss had a ex-jewelry example walk in off the street that he bought for 50% over melt. The coin shop in town had the nerve to question the authenticity of it, offered 10% under melt to "take it off his hands". Sweating bullets, he took it to a national coin show and sold it for $7-$8k (this was fifteen years ago).
