Banker magazine reported that $20-billion of American currency in circulation, is used for daily transactions. A bit less than $10-billion supplies the underground economy, and that $3.3-billion has been buried by individuals in secret caches. All of this means that there is still $144-million unaccounted for.
So where is that $144 million that's unaccounted for?
Much of it is below the dirt.
That's right! People just like you and I have lost that money. And people have been losing money since the beginning of time. Coins in England are being found that date to the first century.
I believe the above figure of $144-million being unaccounted for is to low a figure.
If you like to collect coins or you want to get started collecting coins, then a metal detector could help you locate the coins you need.
Not only can you expand your collection by using a metal detector, but you'll also benefit from the exercise in the outdoors.
You can purchase a metal detector for approximately $350.
You don't have to spend thousands of dollars on an expensive metal detector. All of the major detector manufacturers have beginner's models for around this price.
And you may end up paying for that detector with your found coins.
There are individuals who purchased their first metal detector and then became so involved with finding lost coins that they now search for buried caches and lost treasures.
Remember that statement by Bankers; $3.3 billion has been secretly buried. I know treasure hunters who have found buried loot. It's not always easy, but it has been done.
However, this article is about showing you how to collect coins for your collection using a metal detector.
Schoolyards and Parks
If you do purchase a metal detector be sure and read the owners manual. It will explain how to correctly use your detector. When you feel comfortable with your detector, head out to the nearest park or schoolyard.
The best areas to begin detecting for lost and dropped coins are in those local parks and schoolyards. There is no way that I can guarantee how many coins you'll find, but with practice your finds will increase.
I'll bet many of you lost your lunch money at one time or another while playing in the schoolyard? Today, it still happens.
I know detectorists who are happy with picking up all that loose change. I also know one woman who found a rare 1909 VDB Lincoln Penny in a schoolyard not far from her home.
The penny was located near the edge of the sidewalk that led into the school.
A constant flow of lost and dropped coins are always being found in local parks. Jewelry like gold and silver rings are also being located.
I collect coins as well. One day I found a rare 1921D Mercury Dime in VD condition while detecting a local park. That coin had been a coin that I needed for my collection of Merc Dimes.
I've also found large cents, two-cent pieces, barbers and seated coins while detecting in parks and schoolyards.
Parks And Schoolyards Are Everywhere
You can go to any town, city or village and find more than enough parks and schoolyards to detect. It makes no difference if the parks and schoolyards have been detected in the past. Past detectorists miss coins, and the new technology of metal detectors makes it more than likely you can come away from these two areas with coins.
Also, each year more and more coins are lost, which adds to the likelihood that you'll find dropped coins.
Get into the habit of searching the old schoolyards and parks. There is where you'll find the older coins.
Be sure you follow any laws about metal detecting the parks and schoolyards in your area. If you go to the link below, there is more information about metal detecting laws.
If you collect coins, and you do not own a metal detector your missing out on a great opportunity to add coins to your collection, and have fun while doing so.
Are you new to the hobby of metal detecting?
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