Friday, February 25, 2011

2/25/11 Report - Eisenhower Dollars Found and Heart & Royal Cobs To Be Auctioned

Eisenhower Dollars Found With Metal Detector.

Second coin included for size comparison. Just kidding. They are big coins.

I know this isn't the kind of coin you go out looking for, but hey! A dollar is a dollar. The Eisenhower dollar, made from 1971 - 1978, is unusual as there are not many US dollar coins that do not contain either silver or gold.

Actually some Eisenhower dollars were 40% silver, but you are not likely to find those in circulation. It's not totally impossible though. Strange things do happen. If you found one of those BU Eisenhower dollars, it would be worth around $10 in melt value. That is still not much of a treasure, but again, a dollar is a dollar. It all adds up - even the pennies. Someone said, "If you watch your pennies the dollars will take care of themselves." I agree with that.

Tim J. wrote in seconding some of my observations on Tesoro detectors. He also said as a result of one of my recent posts, he stopped and detected a couple of local parks not expecting much but was surprised to find good targets everywhere.

Don't assume that a place that looks obvious will not hold anything just because it looks so obvious that you might think it is worked out. And don't be surprised if you find something old or valuable in such a place. Sometimes very good things are found in very surprising places.

There were a couple of vacant lots close to where I used to live where carnivals and fairs were held every year. I always looked forward to hunting those places the morning after the carnival left. It was mostly small change, but you would pick up a lot of it in a hurry. Most of it was laying right on top of the ground. It was always fun. Sometimes you just need to do something a little different.

A day or two ago I mentioned the upcoming SedwickCoins auction that will begin on April 26. I hear it will include a nice collection of hearts and royal cobs.

Heart-shaped cobs were made mostly at Potosi. They were made as votives, or as some people think, as rewards. They often have a hole so the cob could be worn as a pendant.

Of course you know what royals are.

Here is a link to read more about the auction.

And here is a helpful tip from Kovels Komments. A $10 auction bid brought over $60,000 to a Texas couple. They bought 11 boxes of old textbooks for $10 at a Texas auction. When examining the books at home, they found an old paper dollar. It was not a modern copy but a real Republic of Texas Exchequer note for 25 cents. It was hand-signed by Sam Houston, President of the Republic of Texas. The bill, dated May 1, 1843, sold at a Heritage auction in Dallas early in 2011 for $63,250. We learned early in our years of appraising estates that people hide all sorts of things in books--money, old trade cards, photographs, letters, stock certificates, and other flat pieces of paper used as bookmarks. Sometimes the book is hollowed out so jewelry can be hidden. Other favorite hiding spots are drapery hems, the back of paintings, inside the piano, under the mattress, and even in the freezer.

I wrote an article for a Western and Eastern Treasures Magazine years ago suggesting checking old books for money, old photographs, autographs an valuable papers.

Gold closed at $1415 yesterday. Up again from recent declines.

Here is the link to find out what is causing the price of gold to soar again.

Forecast and Conditions.

The wind is out of the south today. The seas will be decreasing. The predicted seven foot seas that were predicted for Wednesday are not as high now. I've pointe out time and time again that that often happens with the surf web site predictions. So often when a nice increase is predicted a week or so in advance, the predicted peak decreases as the time grows closer. I wish they would fix their prediction models. There is definitely a systematic error that needs fixed.

I haven't given up on next week totally yet, but it doesn't look as promising now as it did a day ago. Hopefully we'll get a surprise in the other direction.

Right now treasure beach hunting conditions are not good at all. Hopefully the earlier predicted seven foot seas will show up next week.

Happy hunting,