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THE HUDSON VALLEY EXPLORER PWMD&AS NEWSLETTER SPRING 2010

Treasure in the News

Metal detectors hit beaches in search of treasure

By Gary Jeanfaivre, Gjeanfaivre@bcnnew.com
Published: 04:39 p.m., Wednesday, January 27, 2010

On Tuesday, when the wind from Monday's storm had died down a bit and the rain had passed, Don and Carol Mayers gathered their equipment and went to the beach. They put on their waterproof boots and winter jackets, picked up their metal detectors and hoped that the storm had washed up some treasure.

"Everyone complains about beach erosion, but idiots like us love it," Don said, with a hearty laugh.

Earlier in the day he had some luck at a beach in Milford. There, he found a silver ring and a mercury coin. The items were far from their original shining glory, but, for Don, it was a score.

The Mayers, residents of Oxford, are members of the Putnam / Westchester Metal Detectorists & Archaeological Society. Don is vice president and Carol serves as the organization's librarian.

Metal detecting may just be a hobby for the couple, but they are quite knowledgeable about various types of metal, the history of coins and technical terms.

Don explained that the silver coins they find are often in poor condition because of chemical reactions that take place over time. Silver reacts with the salt in the water and leeches out over time, leaving behind a corroded piece of metal that is only a semblance of its original shape and design.

Due to this process, many of the pieces of metal found are often quite fragile. In fact, some are so much so that they often disintegrate when the sand around them is disturbed by the shovel. Carol said this is called "ghosting."

Fortunately, a Standing Liberty Quarter she located on Jennings Beach remained intact. Don said this is a great find. Yet, according to the society's Web site, www.greattreasure.com, Carol is no stranger to great finds. Three items she located in September 2009 were named among the society's "Finds of the Month."

"Every once in a while we get lucky," Don said, looking out on the expansive stretch of sand before him at Jennings Beach. It was low tide -- prime time to search for buried treasure, as much more beach is exposed.

A few hundred feet away, Carol glided her metal detector across the sand's surface as walked up and down the beach - waiting for the beep that would signal the presence of something. The beeps were only audible to her. Both Carol and Don wear ear muffs that are connected to the metal detector. "We wear them so as not to bother anyone with the beeping," Don said.

He had a hit, dug up the sand with his small shovel-like tool and sifted through the sand for the metal object. No such luck; the signal was gone, with nothing to be found. He pushed the sand back into the hole and continued his slow pace along the beach.

A steady set of small waves crashed and rolled up toward Don's feet. A few dogs ran nearby, one in pursuit of a tennis ball and another after a group of seagulls, as their owners looked on.

"It's a lovely beach," Don said. "We appreciate the opportunity to come down here."

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Carol Mayers of Oxford glides her metal detector across the sand of Jennings Beach on Tuesday. While there, she found a “Standing Liberty Quarter,” which was only in production from 1916 to 1930. Photo: Gary Jeanfaivre / Fairfield Citize
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Carol Mayers of Oxford digs at the spot where her metal detector beeped on Tuesday at Jennings Beach in Fairfield. Photo: Gary Jeanfaivre / Fairfield Citizen

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Don Mayers of Oxford glides his metal detector along the sand of Jennings Beach in Fairfield on Tuesday. Photo: Gary Jeanfaivre / Fairfield Citizen

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Don Mayers of Oxford displays a mercury coin and silver ring he found while at a beach in Milford on Tuesday. Photo: Gary Jeanfaivre / Fairfield Citizen

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With his metal detector in hand, Don Mayers of Oxford walks off into the sunset Tuesday at Jennings Beach in Fairfield. Photo: Gary Jeanfaivre / Fairfield Citizen

New rules outlaw melting pennies, nickels for profit

Posted 12/14/2006 12:01 AM ET By Haraz N. Ghanbari, AP

The value of the metal in a nickel is now 6.99 cents, while the penny's metal is worth 1.12 cents, according to the U.S. Mint

By Barbara Hagenbaugh, USA TODAY

WASHINGTON — People who melt pennies or nickels to profit from the jump in metals prices could face jail time and pay thousands of dollars in fines, according to new rules out Thursday.

Soaring metals prices mean that the value of the metal in pennies and nickels exceeds the face value of the coins. Based on current metals prices, the value of the metal in a nickel is now 6.99 cents, while the penny's metal is worth 1.12 cents, according to the U.S. Mint.

That has piqued concern among government officials that people will melt the coins to sell the metal, leading to potential shortages of pennies and nickels.

"The nation needs its coinage for commerce," U.S. Mint director Ed Moy said in a statement. "We don't want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers."

There have been no specific reports of people melting coins for the metal, Mint spokeswoman Becky Bailey says. But the agency has received a number of questions in recent months from the public about the legality of melting the coins, and officials have heard some anecdotal reports of companies considering selling the metal from pennies and nickels, she says.

Under the new rules, it is illegal to melt pennies and nickels. It is also illegal to export the coins for melting. Travelers may legally carry up to $5 in 1- and 5-cent coins out of the USA or ship $100 of the coins abroad "for legitimate coinage and numismatic purposes."

Violators could spend up to five years in prison and pay as much as $10,000 in fines. Plus, the government will confiscate any coins or metal used in melting schemes.

The rules are similar to those enacted in the 1960s and 1970s, when metals prices also rose, the Mint said. Ongoing regulations make it illegal to alter coins with intent to commit fraud. Before today's new regulations, it was not illegal to melt coins.

Metals prices have skyrocketed worldwide in recent years in response to rising demand, particularly in rapidly growing China and India. Prices for zinc, which accounts for nearly all of the metal in the penny, have risen 134% this year, according to the London Metal Exchange. Even accounting for a recent decline, the price of copper is up 50% since the start of 2006. Nickels are produced from 75% copper and 25% nickel.

Although the Mint's new rules are immediately going into effect, the Mint will take comments from the public for a month.

The government has changed the composition of coins in response to rising metal prices. The penny, which was pure copper when it was introduced in 1793, was last changed in 1982.

Call for Classified Ads

Have equipment you are looking to buy, sell, or swap?  Want to arrange a car pool to the Membership Meetings?

Run your metal detecting-related classified adds in the Hudson Valley Explorer (the online version is included).  It’s free, and your ad will run for two issues (6 months) before it needs to be renewed. 

For inclusion, Please send your ad to:

Paul Maloney                                                                                                                                             26 N. Third St.
Cortlandt Manor, NY 10567


Or email the information to
pemalon@optonline.net  Include pictures if you have them, hard copy or digital acceptable.

Real time market prices for precious metal 

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