The recent news of the California couple who found the cache
1,400 gold coins reminded me of this date. Most of the coins
have a reported date range of 1847 to 1894. Most were minted in nearby
San Francisco. In $5, $10 and $20 denominations, they add up to a face value of
more than $28,000, but their market value is likely over $10 million.
Some of that cache hails from Volume 9 Statutes at Large,
30th Congress Session II, Chapter 109, pp. 397–398. Popularly known as the
Coinage Act of 1849 or the Gold Coinage
Act was an act of the United States Congress which allowed for the
minting of two new denominations of gold coins, the gold dollar and the gold
$20 or double eagle. Prior to 1849, the largest face-value denomination for
gold coins produced by the U.S. Mint was $10.
However, the California Gold Rush, which began with the discovery of gold at Sutter's Mill in 1848, provided the impetus for a larger gold coin. In 1849, after the Coinage Act of that year, a limited number of $20 gold coins called Double Eagles were struck. Production of these coins in larger quantities began in 1850 and continued until 1933. I cannot even imagine unearthing just one of these coins let alone 1,400 in uncirculated condition!
However, the California Gold Rush, which began with the discovery of gold at Sutter's Mill in 1848, provided the impetus for a larger gold coin. In 1849, after the Coinage Act of that year, a limited number of $20 gold coins called Double Eagles were struck. Production of these coins in larger quantities began in 1850 and continued until 1933. I cannot even imagine unearthing just one of these coins let alone 1,400 in uncirculated condition!
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