6/3/21 Report - Connections. How Does A Coin Get To Be Worth $10,000,000? One Example. Spikes And Spikes.

 Written by the TreasureGuide for the exclusive use of the Treasure Beaches Report.

1933 Double Eagle Gold Coin.y
Source: Sotheby's Web Site.  See link below.

On June 8 you will be able to buy this beautiful gold coin - that is if you have something like 15 million dollars to spend on it.

So what makes this coin so valuable?  Here is part of the story from the Sotheby's web site.

EFFECTIVELY UNIQUE: Two examples, transferred from the Philadelphia Mint were receipted by the Smithsonian Institution (October 11, 19344). Eleven others, property of the United States Government and in the possession of the United States Mint as a result of prolonged litigation were never issued and are officially considered chattel.

As stated by the United States Mint in the July 30, 2002, auction catalogue for this 1933 Double Eagle:

“This is the only 1933 Double Eagle monetized and issued by the United States Mint. It is also the only example that the United States Government has ever authorized, or ever intends to authorize, for private ownership.

Here is the link for more about that coin which bears an auction estimate of up to $15,000,000.

The 1933 Double Eagle | Three Treasures – Collected by Stuart Weitzman | Sotheby's (sothebys.com)

One main theme today is given by the title of the song by The Fixx, One Thing Leads To Another.  I often comment on how one things leads to another.

People often miss important and possibly valuable connections. 

What do you learn when  you read about a coin like this 1933 Double Eagle?  Some people will immediately dismiss it.  Some might take glancing notice but won't see anything of interest.  After all, they don't have a million dollars, let alone 15 million dollars, and may never encounter a coin like that.  But there is a lot to learn from that story if you take an interest and think about how things connect.  What are the relationships?

There are many general principles illustrated in the story of the 1933 Double Eagle.  They can be applied to other things. Consider, for example, what makes the coin so valuable.  If you understand what makes this coin so valuable you will be better able to determine the value of other objects, including but not limited to coins.  

You might first notice that this  coin is described as unique.  And you might wonder what makes it so unique, and how it differs from coins that are more common.  And you might read more about the coin and learn about its provenance,  You will  and that it was once the property of King Farouk and several others, and how much it sold for at various times. 

Here is a little more of the story.

The Farouk-Fenton-Weitzman 1933 Double Eagle has “lived the life.” It has touched on history great: two larger-than-life presidents, the Gilded Age, the Great Depression, American economic policy, the end of the gold standard and gold coinage, a world war, and diplomatic niceties. It has touched on history small: a crime committed by a venal insider, a shady Raymond Chandler/Dashiell Hammett cast of characters, the Secret Service, a debauched monarch, a sting at the Waldorf Astoria, and for twenty years a mystery owner. Few objects—and certainly no other coins—have ever encapsulated such a grand vista of world and American history, both public and private, in such a small, precious, and beautiful package.

If actually read the article, you might find a lot that will interest you, and you might learn more about how U.S. coins were minted, the chain of custody, and so much more.  If you get into the details and start down that path, you will find that you are at the head of a thousand paths and streams of knowledge.

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Here is another example of how one things leads to another.  As you probably know, I've been metal detecting a once overgrown wooded lot and finding a lot of railroad items, including a lot of railroad spikes,  I noticed markings on the railroad spikes and was interested in learning what those marks might tell.  Joe D. did a little research and found a very informative web site about railroad spikes.  By learning about railroad spikes you might also learn something about shipwreck spikes.

Below is Joe's message to me, and below that is a paragraph from the web site Joe found.

  I did a little research on several sites, and blacksmithing forums today! (elusive, but interesting)!

     The majority of the marking on most spike heads seem to be mostly composition of metal within the spike, which was/is the prime concern for approved strength! The length, width and diameter is also of prime importance based on rail size, and holding power in the approved wood ties! Survival of the head markings appears to be of little importance, as they were there only for inital proper ID for installation, and were generally not supposed to be reused on any rail again! Manual hammering did more to destroy the marking than the more modern steam; and hydraulic/pneumatic methods! 

     The website above was of particular interest due to the fact the a lot of specs and measurements were listed! Including how many of each size spikes came in a 200 pound keg/barrel! 

Thanks Joe!

Here is a paragraph from the site Joe found.

Its square cross section gives a railroad spike much higher holding strength than a fastener having the same amount of metal but a circular cross section has; roughly speaking, about 50% more. A spike with the wedge driven across the grain will have about twice as much holding power as one driven with the grain. Early experiments showed that pulling out a 9/16″ × 9/16″ spike driven 4¼ inches into dry cedar required on average a force of 857 pounds. In seasoned oak, another experimenter needed 4281 pounds.

So if you aren't interested in railroad spikes but are interested in spikes from old ships, maybe you just learned something.  Always be alert for generalities that can be applied to other areas.  Maybe you thought that old shipwreck spikes were square just because that is how they made spikes and nails and things like that in the old days, but did you ever consider that shipwreck spikes were made square because they have more holding power than round spikes would, or that spikes might be constructed differently for use in different kinds of wood?

Here is another paragraph from the same article on railroad spikes.

The spikes used to fasten T-shaped railroad track to wooden ties have an L-shaped head and a square shank. The bottom of the head is sloped to match the slope of the flange of a rail. The tip is wedge-shaped, not pointed. The wedge is driven into the tie across the grain, that is, parallel to the track.

If the spike is driven with the grain of wood instead of across it, it would act more like a wedge separating the wood.  The shape of a spike can tell you a lot about how it was meant to be used.  The slope of the bottom of the head of an undamaged railroad spike, for example, tells you the angle that the spike was to be driven into the tie.  Similar kinds of clues might be found on ship spikes of various sizes and types.  So if you learn about railroad spikes, some of what you learn will also apply to shipwreck spikes.  And you might even learn how to tell the difference between the two.

A specific example of an item, such as a coin or spike, can illustrate many generalities that can be applied to many different cases.  I'll say it once again, "One thing leads to another."

Here is the link to the web site Joe found about railroad spikes.

https://www.sizes.com/tools/spikes_railroad.htm 

And if you use that link, you'll see other interesting links, including one to an article on anchors.

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Metal detecting is very much about making connections.   There are connections between beach conditions and finds.  There are connections between signals and finds.  And many more.  

Finds provide clues that connect you to history.  And your skill in combining pieces of information, helps you solve the puzzle.   Your skill level improves as you better understand the connections and how one thing changes the probability of another. 

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We are supposed to have a two foot surf about a week.  The wind is southerly and the tides are moderate.

Happy hunting,

TreasureGuide@comcast.net