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The Aluminum Doubloons
Those Most Easily Obtained
The aluminum doubloons are usually about the size of a silver dollar, but there is no standard. Minting the same size for different organizations has its advantages for the person minting the doubloons, and since those who toss the doubloons to the crown have to pay it is logical that most are the same size. They can be produced more cheaply if the mint does not have to handle them is a special manner.
Aluminum doubloons usually carry the theme of the year on one side, and identify the organization of the other. They are normally dated, and may appear in a multitude of colors. The most frequently encountered doubloons are uncolored, but there are often also anodized doubloons as well. Each organization determines its colors, and the doubloons from a given parade might all be one color, or may be any of several colors. The edges are reeded or plain, and in some cases both edges are used in the same parade, although not on doubloons of the same color.
Of course there were always organizations that wanted to be set apart, so octagon shaped doubloons and miniature doubloons are two examples of how that was accomplished.
Rarity depends on the number produced, which is controlled by the organization. Some organizations make a certain doubloon rare to encourage people to try harder at acquiring one. Occasionally, there is a real special doubloon thrown only by certain officers of the organization. It is not uncommon to have a special doubloon made thicker than the average doubloon.
A celebrity Grand Marshall, especially for one of the larger parades, may throw a special doubloon with the celebrity’s image on it.
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Many Were Lost
Hurricane Katrina Took a Toll
In the early years of doubloons they were very popular, and people often stomped on them when they hit the ground. Then, when it was clear of others they would reach down and pick the doubloon up. Of course this scratches the doubloon, rendering it less desirable. Others would hit the street and chip off some of the color. So, quality doubloons were best obtained by a mid air catch, being handed the doubloon, or standing where the doubloon would most likely fall of grass.
Collectible Interest Varied
When doubloons first came out people wanted them, and they were often grabbed as soon as they came in reach. Collections were kept in albums. Since there were so many parades that no one could possibly get one of each possible doubloon due to conflicting schedules, doubloon shops sprng up and price lists came out. People hid their collections, and some were valued in the thousands of dollars.
Interest dropped when the plastic cups came out. The cups could be painted with the organization’s name and theme of the year. Plastic cups were cheaper, so float riders opted to spend more on cups and less on doubloons. Cups were useful, so the cups became the focus. Doubloons would be left on the ground. Fewer and fewer organizations threw doubloons, and fewer people collected them. The value of the collections plummeted.
Now, there is a small resurgence, but the cost of aluminum is keeping it from really taking off. However, more are being picked up as soon as they are thrown. But, not many are being thrown.
Another factor that must be taken into account is that Hurricane Katrina flooded many homes where the collections were stored, and entire collections were lost. This discouraged some people who, after collecting for decades, had to either stop collecting doubloons or start over. And, the older ones will not be replaced easily.
The Multi-color Doubloons
One way some doubloons were made to be set part is to have them made in more than one color on the same doubloon. This is a more expensive process, so grabbing one from a parade would be a rare event. These are often handed to friends of those who by membership in the organization have the right to buy them from the organization.
The Fine Silver Doubloons
Very Special And Highly Collectible
One type of Mardi Gras doubloon that is never thrown to the crowd, and may even be unfamiliar to many people who live in New Orleans, is the fine silver doubloon. The fine silver doubloon is usually about one Troy ounce, but there is no real standard. The amount of silver varies, and according to an expert friend of mine can vary for the same organization during the same year.
The Oxidized Silver Doubloons and Others
You Need to Have Connections for One of These, Or Buy It
Oxidized doubloons are also minted by some organizations, and do have a higher value than a similar aluminum doubloon. But, one of these oxidized silver doubloons in no way approaches the value of a fine silver doubloon. I have heard of others, such as ceramic doubloons. Some special for the members only aluminum doubloons also have been produced. It is difficult to know exactly what is out there, and the mintage is not necessarily something that an organization might choose to release. Indeed, a parade is not a necessity for an organization to produce doubloons. Many parades have ceased to roll, but the organization still holds an annual ball and other functions. Even basic aluminum doubloons from these organizations are difficult to find.
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