Some Mardi Gras Doubloons Are Collectible

First, a Mardi Gras doubloon is a coin shaped object, often made of metal.  The first Mardi Gras doubloons were minted in 1959 and made an appearance during the Rex parade on Mardi Gras Day 1960.  They have been around ever since, and have had varied degrees of desirability.  They represent the organization that authorized them, and become a part of the history of a particular Mardi Gras.  And, they make excellent mementos of a parade from which they came. 

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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. 

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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.

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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.

Tri-Color and Multi-Color Mardi Gras Doubloons

Most aluminum Mardi Gras doubloons are silver in color, since the aluminum is uncolored.  These are the least expensive to make, and price for an object freely thrown from a float can be important.  One color anodized doubloons add something, so many parades use one color doubloons, sometimes as an additional type to the uncolored ones.  But, few will throw doubloons with more than one color, since these are more expensive.  But, added colors do enhance the beauty of a doubloon.  More likely these are handed out be members of the organization, or even kept by the members for themselves.  This is good for collectors, since doubloons tossed from a float can easliy be chipped or scrapped, these are more often found in mint condition.

Mardi Gras Doubloons and Commemorative Medals

Mardi Gras Doubloons

In 1959, H. Alvin Sharpe came up with the Mardi Gras doubloon, a coin shaped object that can be massed produced and would serve as a proper souvenir of a Mardi Gras parade.  The first to be tossed from a parade float were thrown by the Rex parade in 1960.  They were immediately embraced by the crowd.  A few years later, other parades joined in the doubloon frenzy.  Normally, the name and insignia of the parading organization is on the obverse, and the reverse often depicts the parade theme.

Mardi Gras doubloons are typically made of aluminum, or at least the ones tossed to the crowd are.  special doubloons are sometimes given to the officers, the king or queen, or the celebrity grand marshal to throw. These might have a different design, and might be a distinctive color, or thicker gauge.

Many Mardi Gras doubloons are simply aluminum minted with the appropriate designs, but doubloons can have color from being anodized.  Some parades have a limited mintage color, and these are sought by collectors.

At one time most parades threw doubloons.  This created an entire collecting group, and stores bought and sold doubloons just as coin shops buy and sell coins.  Then came the plastic cup, which could be decorated with the parade theme and name, and had an actual use.  Many parades dropped the doubloon.  Now, only a few throw them, and often in sparse quantities.  Collecting is having a slight resurgence, but is far from what it once was.

Unknown to many people, there are special doubloons made and sold to members of the parading, and even some non-parading organizations.  Many of these special doubloons are made in fine silver.  They are not to be tossed freely to the crowd, but do sometimes find themselves in the coin market.  Indeed, coin shops may even sell these.  One problem is there is no standard weight, so, while many are about an ounce, they must be weighed.  And the oxidized silver doubloons have much less silver in them then the fine silver ones.

Unfortunately, both aluminum and silver doubloon collections were lost in Hurricane Katrina.  Some collectors moved away from the source, and others became discouraged.  But some are still quite active.

Those minted as generic doubloons are of little interest to collectors.  Look for a parade name, not a party novelty item.

Mardi Gras Doubloons

Pictured are the aluminum doubloons that are thrown from parade floats in New Orleans and its suburbs.  Some, like the ones pictured, are anodized with color.  But, there are fine silver doubloons, oxidized silver doubloons, and more.  To read more check the link below.

Mardi Gras Doubloons

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Mardi Gras Doubloons

Mardi Gras Doubloons

These rare silver doubloons are not thrown to the crowd.  Did you even know they exist?  The rare Mardi Gras collectible doubloons.

Collecting Mardi Gras Doubloons

                 About fifty years ago there was a new item that appeared on Mardi Gras Day, the doubloon.  This is a medallion about the size of a silver dollar.  The first organization to throw these from floats during a parade was Rex, on Mardi Gras Day, 1960.  The doubloons has been a fixture at Mardi Gras ever since.

                 The Mardi Gras doubloons were, and to some extent still are, collectable.  After Rex introduced the first doubloons many other parading organizations followed with their own.  These medallions are usually aluminum, somewhat standard in size, and depict the organization on the obverse with the dated parade theme on the reverse.  This means that new reverses are needed annually.  Some parades use the uncolored aluminum doubloons, but others have some or all of their doubloons anodized with color.  They come both with plain and reeded edges, and a few have tried shapes and sizes that differ from the norm.

                 In the early years there was a move by most parading “krewes” to have their own doubloons minted, since these doubloons brought out more parade watchers.  After some time, the plastic cup became so popular that many parade goers allowed the doubloons to remain on the ground.  The cup also depicted the parading organization and theme of the year, and had practical purposes.  This was also about the time many collectors realized they would never get every doubloons minted, and began to lose interest.  In the last few years the doubloons has regained some of its appeal, and is now becoming more difficult to catch.

                 Doubloons are not as easy to collect as coins.  Few dealers handle them, and getting high quality doubloons is difficult.  You cannot order them from the mint.  They are tossed from moving floats, and often thrown by the handful.  They hit the street and immediately dent or scratch.  The equivalent of an uncirculated coin is rare.  For best results in owning a quality example of a doubloon one must know a member of the organization that throws it, and have the doubloon handed out privately, not thrown.  Next best is to catch a doubloon in the air.  Finally, standing on the median side of the street, called the “neutral ground” by the locals, allows the grassy median to cushion the doubloon’s fall and reduce the scratches.

                 Currently, only a few organizations throw doubloons.  Those that do may have one color, like the gold Rex doubloons, or several doubloons of different color.  There were doubloons in the past for individual floats in some rare cases.  Occasionally, a color is declared “rare” and thrown in a lesser quantity than the others.  Some organizations give the Captain, officers, or the king or queen special doubloons.  These are usually a distinctive color and a heavier gauge.

                 The most valuable doubloons are those not intended to be thrown.  These may be one Troy ounce of silver, or disks colored with enamel.  They are purchased as keepsakes by the members of the organization, and without connections these are practically impossible to obtain.  A few coin dealers will handle these when they are available, but they are minted in very small quantities making that a rare occurrence.

                 At this time some avid collectors are trying to replace collections destroyed by Hurricane Katrina.  Many doubloons dated 2005 and earlier were lost in the flood and the cleanup that followed.  Unfortunately, some of these collectors have moved away or have simply given up on collecting anything, so the demand has not increased as much as it could have.

                 This article is a service of Black Spaniel Gallery.  Go to blackspanielgallery.com for more informative articles on similar topics.