Counterfeit Coin Maker?

ucvrelics

Colonel
Forum Host
Regtl. Quartermaster Shiloh 2020
Joined
May 7, 2016
Location
Alabama
This is a coin mold, not a striking die. See the funnel-groove cut in the top edge, for pouring probably lead mixed with a little
tin to harden it. Then a nice gold wash, & you've made yourself $5 for maybe 3 cents worth of materials and a little work.
Easy money! Just don't try to pay your taxes with it.
That's where the illegal part comes in:cold:
 

Story

2nd Lieutenant
Joined
Aug 5, 2011
Location
SE PA
Coin date appears to be 1884. Guessing the "Racketeers" coin https://coins.thefuntimesguide.com/1883_coin/ They gold plated and passed for $5 gold pieces
This is a coin mold, not a striking die. See the funnel-groove cut in the top edge, for pouring probably lead mixed with a little
tin to harden it. Then a nice gold wash, & you've made yourself $5 for maybe 3 cents worth of materials and a little work.
Easy money! Just don't try to pay your taxes with it.
So, why drove them in 1884?

The Panic of 1884, by contrast, had a more limited impact. It began with a small number of financial firms in New York City. In May 1884, two firms – the Marine National Bank and the brokerage firm Grant and Ward – failed when their owners’ speculative investments lost value. Soon after, the Second National Bank suffered a run after it was revealed that the president had embezzled $3 million and fled to Canada. Then, the Metropolitan National Bank was forced to close after a run was sparked by rumors that its president was speculating on railroad securities with money borrowed from the bank (those allegations later proved to be untrue).

The latter institution had financial ties to numerous banks in neighboring states, and its closure raised doubts about the banks to which it was linked. The crisis spread through Metropolitan’s network to institutions in New Jersey and Pennsylvania, but the crisis was quickly contained. The New York Clearing House audited Metropolitan, determined it was solvent, advertised this fact, and loaned Metropolitan $3 million so that it could withstand the run. These actions reassured the public, and the panic subsided.

https://www.federalreservehistory.org/essays/banking-panics-of-the-gilded-age

See also
https://en.wikipedia.org/wiki/Panic_of_1884#:~:text=4 See also-,Background,and called in outstanding loans.
 
Last edited:

Story

2nd Lieutenant
Joined
Aug 5, 2011
Location
SE PA
A recent trip South allowed me to photograph some item's from a family member's curio cabinet. All of these were collected by my great-uncle, mostly during the 20s and 30s in the South.

Any more on this great-Uncle?

I ask as I heard a parallel tale while bird-dogging a Colt Navy linked to Philadelphia's 1st City Troop for a friend ("so how'd you wind up with this?', I asked the seller). Seller's grandfather had withdrawn a substantial amount of cash for some real estate deal immediately prior to the Crash in October 1929 but was delayed by circumstances from completing it. This left him with tons of folding money when others had none. In the years that followed, he carpet-bagged around Pennsylvania and wound up with a barn-full of 'stuff' acquired at pennies on the pound.
 

lupaglupa

1st Lieutenant
Forum Host
Joined
Apr 18, 2019
Location
Upstate New York
Any more on this great-Uncle?

I ask as I heard a parallel tale while bird-dogging a Colt Navy linked to Philadelphia's 1st City Troop for a friend ("so how'd you wind up with this?', I asked the seller). Seller's grandfather had withdrawn a substantial amount of cash for some real estate deal immediately prior to the Crash in October 1929 but was delayed by circumstances from completing it. This left him with tons of folding money when others had none. In the years that followed, he carpet-bagged around Pennsylvania and wound up with a barn-full of 'stuff' acquired at pennies on the pound.
Nothing so interesting, sorry. He just enjoyed poking around old stuff and buying things that interested him.
 

rebed19th

Private
Joined
Jun 10, 2018
Location
jersey shore, nj
I just found these 2 coins in box I have. Sure looks like your mold would make these coins. The coins I have are dated 1906 & 1907 and the word cents is beneath the "V". I can't tell you anything about how the Liberty Head nickels were made or what the mold was used for.

IMGP1053.JPG
 
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