Expert: PAPAJACK - 1/9/2008

Question
Dear PapaJack,

First, thank you in advance for your time! I have done a little bit of research to try and help my father-in-law, but not knowing much of coin collecting, I'm not too sure where to start.

What we have is an 1899 Morgan-O Silver dollar.  My research seems to rate this coin in the lower-range, no higher than a Grade 12 (and I think that's really pushing it!).  It has wear on all the high points, although the eagle does have most of the feathers on the right side, with the majority of the wear being on the top of the left wing.

It is relatively flat along the high-point on the front over the left-facing Miss Liberty's ear, but the majority of the details; lips, nose, hair, etc are all still decent.  

My personal, VERY unexperienced guess is that this coin is possibly worth $5.00 to at most $20.00, am I close in my guess? My father-in-law was really excited after seeing an ad in the paper offering up to $60,000.00 for Silver Dollars in a specific date range, that included this coin.  I hate to burst his bubble, but I am trying to do the research he requested, and I want to find the most honest answer that I can. (unfortunately, I think people generally get over-excited about older paper/coin money because it displays an older date and they assume it is worth a large amount of money, when generally it's not worth much more than face value):-(

Thank you SO much for any help you can give me, I am also researching an Indian-Head nickle(don't have the date yet one thing at a time!), a British 1932 King George V Three pence, and another coin,1946, which appears to have a left-facing King George V on it, the back being a bird (sparrow?) and it says Farthing, if you would happen to be able to point me in the right direction for those, I haven't begun my research there yet, looks like I have my work cut out for me!

Thank you SO much, and I'm very sorry this was so lengthy.

Sincere Thanks,
Seaandra

Answer
Hello Seaandra,                                  

"1899-O worth $5.00 to at most $20.00, am I close in my guess?"
These coins are 90% silver and at todays market prices start at $14 in value. Then a Numismatic value is added according to its grade or state of preservation and eye appeal.
But you are right that the high value for this coin is about $20 dollars judging by your description.
Perhaps your father saw the 1794 to 1804 dated dollar coins in the ad? None of the Morgan dollars except the 1895 Philadelphia coin at $37,000 in the price list I am looking at approach 60,000 in circulated grades.

"also researching an Indian-Head nickle"
Indian Head/Buffalo nickels, these are a hot collectable in hi grades. Even some in lower grade can be hard to find. They are graded by how visible the buffalo’s horn is. Of course the Date must show and any mint mark letter it may have.
The 1921-S, 1923-S, 1924-D, 1924-S, 1925-D, 1926-D, 1926-S are the money coins for this decade. They range in value from $6.00 to $10 in circulated grades. The 21-S, 24-S and 26-S are most valuable ranging from $20.00 to $700.00 in high grade circulated examples.
Other Dates and mint marks from the 1920's are valued from 1 to $5 dollar in low grades.

Here's a quick wear/Grading guideline, NOTE: They must not have problems like dents, bends or having been cleaned.

GOOD or Grade 4:
Letters and date clear no Buffalo Horn on reverse but no wear to the outside rim from letters.

VERY GOOD or Grade 8:
Normal wear, flat looking, very little sharpness remains but all major details visible and Half the Horn still shows.

FINE or Grade 12:
All details strong and definition remains on some high areas of the coin and three quarters of the horn still shows.  

VERY FINE or Grade 20:   
Two thirds of hairlines strong, cheek bone is well defined but worn. Full horn shows but worn.

EXTREMELY FINE or Grade 40:  
Only slight wear on hair ribbon, hairlines are strong. Only slight wear on full horn. Some Original Mint Luster shows.

MINT STATE Grades 60 TO 70:
STRICTLY NEVER CIRCULATED.  NO TRACE OF WEAR. Nice luster on coin.

Remember this same type of point scale grading goes for all coins.

"British 1932 King George V Three pence, 1946 Farthing"
I am not an expert on foreign or ancient coins. You can get a lot of information from the "Standard Catalog of World Coins" for information. Every library has a copy in its reference section.
They are in volumes each covering a date range of about 100 years.

I recommend another expert at this site Brad Swain He will be able to tell you the approximate value.  He is very knowledgeable on world coins.
Here is his URL;
http://www.allexperts.com/user.cgi?m=4&expID=21130&catID=2297

Thank You and Good Luck

PapaJack