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How the first U.S. mint placed the face value on its coins.
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<p>[QUOTE="johnmilton, post: 4292236, member: 101855"]Through most of history, gold was usually reserved for wealthy people, successful merchants and royalty. My mother talked about getting a $2.50 piece for Christmas. My father got $75 in gold from his high school graduation. He deposited it all in a bank that went belly up during the Great Depression. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie101" alt=":woot:" unselectable="on" unselectable="on" /></p><p><br /></p><p>Most people didn't run around with gold in their pockets during most all of the 19th century. Most of time it was coins and paper money, first from the banks, and after the Civil War, from the Federal Government. How do we know this? It's unsual to see a U.S. gold coin that grades less than Choice VF.</p><p><br /></p><p>Perhaps the only gold coin that saw a lot of circulation was the gold dollar. They were popular from 1849, when they were introduced until the Civil War when all the gold was hoarded or exported. The reason was that they were reliable. With paper money form bank, you never knew if it was any good or not. When it was a gold coin, it spoke for itself.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 4292236, member: 101855"]Through most of history, gold was usually reserved for wealthy people, successful merchants and royalty. My mother talked about getting a $2.50 piece for Christmas. My father got $75 in gold from his high school graduation. He deposited it all in a bank that went belly up during the Great Depression. :woot: Most people didn't run around with gold in their pockets during most all of the 19th century. Most of time it was coins and paper money, first from the banks, and after the Civil War, from the Federal Government. How do we know this? It's unsual to see a U.S. gold coin that grades less than Choice VF. Perhaps the only gold coin that saw a lot of circulation was the gold dollar. They were popular from 1849, when they were introduced until the Civil War when all the gold was hoarded or exported. The reason was that they were reliable. With paper money form bank, you never knew if it was any good or not. When it was a gold coin, it spoke for itself.[/QUOTE]
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