Week # 183 - Happy Friday!!

[Danielle C.]

QUESTION:

 

Why did the earliest USA gold coins carry no statement of value?

 

 

 

Our first place winner will receive a leatherbound 2005 Red Book. A prize will be awarded to a randomly selected player.

 

 

REMINDER: The Numisma-Quest ends/ended on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia Info post for more details.

When you post your answer, only the administrators can see it. Stop back each Monday. We will make all the posts visible and announce the winners .

[BankNote1]

In case the price of gold changed the value of the coin could be changed as well!!!

[jtryka]

I will guess it's because the eagle and half eagle were the only denominations produced so people knew the value by their size, and given that coins of many nations circulated at that time, the value in dollars was not as important as the weight in gold.

[Oldtrader3]

Because they were assigned value by weight.

[jayjay2789]

Because its value varied as the value of gold flucuated

[mhardin2413]

it's value was based on the price of gold, not the u.s. dollar.

[Hoot]

The values of the denominations were implicit in their size and weight comparisons with the commonly circulated foreign gold pieces of the time.

 

Hoot

[CarolinaCollector]

The edge of the of some of the silver and the gold coins had lettering with the value. This was done to prevent slivers of the coin from being removed to lessen its monetary value. If a sliver was removed, so was the stated value of the coin!

[cpm9ball]

They probably trusted a scale more than they did other people.

 

Chris????

[JamminJ]

They were valued by their bullion content.

[midwest]

there actual value fluctuated

[JDunlap-migration]

The USA had no monetary value, because during the independance war, we didn't know if we were gonna be run over or not.

[Danielle C.]

QUESTION:

 

Why did the earliest USA gold coins carry no statement of value?

 

ANSWER:

 

Their legal value diminished in proportion to their reduction in weight through wear or clipping.

 

Congratulations OldTrader!! You will be receiving a copy a leatherbound 2005 Red Book.

 

JamminJ had the closest answer next, so you will be receiving a display box.

 

 

Thanks for playing and stop back next week for another question. Keep up the good work