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Monday, July 15, 2024

7/15/24 Report - History of Spanish Colonial Gold. Cruddy Pennies by the Load.

 

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


Here is an excerpt from a good article.

... In ancient Colombia, gold was also revered for its lustre and association with the sun. In powdered form, gold was used to cover the body of the future Muisca (Chibcha) king in a lavish coronation ceremony, which gave rise to the legend of El Dorado ('Gilded Man'). The newly dusted monarch then leapt into Lake Guatavita in a ritual act of cleansing. Meanwhile, onlookers threw precious objects into the lake as auspicious offerings to the gods. By the time the conquistadors had heard rumours of this ceremony in the 1530s, the story had been embellished, and El Dorado had become not a man but a great city paved with gold.

The golden city was never found because it did not exist, but attempts were made to find out just what lay at the bottom of Lake Guatavita. In the 1580s Antonio de Sepúlveda had perhaps the most ambitious scheme when he cut a slice out of the lake's crater edge in order to drain it and find the treasure which must surely have accumulated on the lake bed. Some gold artefacts were indeed found, but before the lake could drain completely a landslide blocked the cut, and so the water level began to rise again. A long line of sorely disappointed adventurers has since followed with their, so far, unsuccessful attempts to extract gold from Lake Guatavita...

Here is the link for more about the gold of the conquistadors.

The Gold of the Conquistadors - World History Encyclopedia

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Mark G. just reached a milestone.  Below is what he said.

I have just completed my first year of metal detecting and filled my first jar of coins, enough to tumble. Like we all know zinc pennies don’t do well in the surf so now I have a half jar full of useless money. I took my jar of zinc pennies to the bank Friday to redeem them for good pennies and they said they don’t do that and directed me to the department of engraving or better known as the US Mint. I discovered there is a path to redeem these coins as scrap metal by the pound. Good news bad news the program had been suspended for 2 years due to China flooding the coin recycling market however good news it may be back up and running or getting ready to restart I cannot actually find definite answer to that. Now my 1 pound of pennies might not be worth the postage for shipping, however if a bunch of detectorists or even a club pooled their coins and made a big haul to the mint they could donate the money to the clubs favorite charity or whatever.


The US Mint will buy the coins by the pound only with prices different for the different denominations ($20 per pound for quarters and dimes, $1.81 for a pound of pennies, $4.53 for a pound of nickels).  It’s quite simple. Just bag up the damaged coins — sorted by denomination — and send them to the Philadelphia Mint:


United States Mint

Independence Mall
P.O. Box 400
Philadelphia, Pennsylvania 19105

Link to US Mint:

Mutilated Coin Redemption Program | U.S. Mint (usmint.gov)


Anyone have an ideas?

A pound of copper is worth $4.58 and the pre 1982 pennies were 95% copper.  I've mentioned before, people have been hoarding copper pennies for a long time.

Copper coins, such as the penny, started as pure copper, but rising copper prices led to changes in composition. In 1857, the Mint added nickel to the copper, but switched to tin and zinc in 1864. For the year 1943, pennies became zinc-coated steel because copper was essential to the war effort during World War II.

I keep my wheat pennies.

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I'm glad the president wants to cut down the divisive language, so he'll be stopping what you see in this link.

Trump defense team plays video of Democrats 'inciting' language | IMPEACHMENT TRIAL (youtube.com)

Some confusion out there about the Republican registered shooter contributing to leftist organization.  You should recall that Democrats were registering Republican so they could vote against Trump in the primaries.  Deceptive sorta like the false hat operation at the Capital Bldg.

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Nothing on the National Hurricane Center map, and the surf remains smooth.

Good hunting,

Treasureguide@comcast.net