A common U.S. business opinion about Double Eagles 1 1

[VKurtB]

I'm convinced that all this talk about just plain folks holding gold coins is more the stuff of romanticized legend than reality. Heck, even Bust Half Dollars are available in nicer conditions today because they were primarily used for bank-to-bank transactions. Why would not the same apply to gold coins? Remember, a huge number of U.S. gold coins out there today had lengthy "European vacations". They aren't even mostly coins hidden from the 1933 melting pot.

Exceptions: the three major gold rushes with mintmarks - C, D, and S, and the western frontier generally. Again, cowboy movie fodder.

[GoldFinger1969]

4 hours ago, VKurtB said:

I'm convinced that all this talk about just plain folks holding gold coins is more the stuff of romanticized legend than reality.

Regrettably, I think you are right, Kurt.  

It's possible that thousands or tens of thousands of Liberty's and/or Saints were kept as a store of value but subsequent inheritors of the coins may have parted with them.  I don't expect that many people back then were modern-day Silas Marners  but you just figured that with banks not having transparency (except maybe major banks in urban areas) that more people would trust gold coins including Double Eagles.  But I guess not.

And I thought that paper money ("greenbacks") needed decades to recover from the experience of the 1860's.

Edited October 20, 2020 by GoldFinger1969

[VKurtB]

2 hours ago, GoldFinger1969 said:

Regrettably, I think you are right, Kurt.  

It's possible that thousands or tens of thousands of Liberty's and/or Saints were kept as a store of value but subsequent inheritors of the coins may have parted with them.  I don't expect that many people back then were modern-day Silas Marners  but you just figured that with banks not having transparency (except maybe major banks in urban areas) that more people would trust gold coins including Double Eagles.  But I guess not.

And I thought that paper money ("greenbacks") needed decades to recover from the experience of the 1860's.

Hey, don’t get me wrong. I like a good western as much as the next guy. But I never understood the allure of gold. The most interesting thing about Goldfinger to me was the female lead character’s name.

[GoldFinger1969]

2 hours ago, VKurtB said:

Hey, don’t get me wrong. I like a good western as much as the next guy. But I never understood the allure of gold. The most interesting thing about Goldfinger to me was the female lead character’s name.

Hmmmm.....I wonder if she is available to help me liberate those 1933 Saints held at Fort Knox ?

[Conder101]

12 hours ago, GoldFinger1969 said:

And I thought that paper money ("greenbacks") needed decades to recover from the experience of the 1860's.

Greenbacks reached par value with gold and silver about 1874

On 10/19/2020 at 8:49 PM, GoldFinger1969 said:

If I ever get reincarnated and can go back in time....I want to live in the late-1800's and early-1900's.  I'll clean up !

But what would your income be?  For a comparable purchasing power value take your current income and divide by 100.  That is what you would have to clean up with.  And you may have even less.  Someone putting aside a double eagle back then would be like someone today sticking $2,000 into a SDB.  Not a lot of people other than those blue bloods can do that on a regular basis.  They are too busy just trying to get by.

16 hours ago, VKurtB said:

Heck, even Bust Half Dollars are available in nicer conditions today because they were primarily used for bank-to-bank transactions.

Primarily used for reserve backing for the paper money they issued.  And they engaged in fractional reserve banking too issuing more currency than they had hard money backing for under tha assumption that it all wouldn't be submitted for redeption at the same time.

[VKurtB]

10 hours ago, GoldFinger1969 said:

Hmmmm.....I wonder if she is available to help me liberate those 1933 Saints held at Fort Knox ?

I have access to one small plane. I think they had a bunch. I also have one and only one Slazenger #7 golf ball.

[GoldFinger1969]

29 minutes ago, VKurtB said:

I have access to one small plane. I think they had a bunch. I also have one and only one Slazenger #7 golf ball.

Great....I'm interviewing henchmen right now.....a Korean fellow....seems a bit "odd." 

I love how a plan comes together !! 

[VKurtB]

1 minute ago, GoldFinger1969 said:

Great....I'm interviewing henchmen right now.....a Korean fellow....seems a bit "odd." 

I love how a plan comes together !! 

I don't do "henchmen", I'm more a "minion" sort of guy.