Expert: PAPAJACK - 10/14/2008

Question
PapaJack, I have a 1913 $2.50 gold Indian head coin. What type of appraisal price range should I look for?
I also have an 1867 dime.

Answer
Hello Quentella,         

Thank you for selecting me for this question.

These coins are valued on a set scale. Collectors have devised a numerical grading system for coins. It goes from 1 to 70. With 1 on the scale being barely identifiable as a coin and 70 being a perfect fully struck specimen.
Coins taken from circulation usually fall between grade 8-VG (very Good) and grade 50 (AU Almost Un-circulated).  Only a strictly Un-circulated coin can grade Mint State between 60 and 70.

In general the 90% silver coins found worn in circulation contain 9 to 11 times their face value in silver alone. So a much worn dime even with no features left is worth about 90 cents.  

The 1867 Sitting Liberty dime was made at 2 mints Philadelphia with no mint mark and San Francisco, with a mint mark S.

It is sometimes easier letting a collector look at them, and even most coin shops will help for free on one or two pieces.
 
In each series of coin type like your "Seated Dime" there are some quick reference points of wear to be seen on the high points that are known to show wear first. Most of these are covered in the RED BOOK or Bluebook titled "A Guide Book of UNITED STATES COINS" by R. S. YEOMAN. This will guide you through the critical information you need to begin evaluating a US Coin collection, the pricing in them is not accurate but can be used to sort out the more valuable coins. These books are released each year and sell new for less than $10, a used one is fine or your library will have one.

I can only give you a range of prices without seeing the coin.  

For an 1867 Philadelphia mint dime:
Very Good (Grade-8) = $450
Fine (grade-12) = $550
Very Fine (grade-20) = $700
Extremely Fine (grade-40) = $1000 and
Almost Un-circulated (grade-50) = $1370.00

For an 1887 San Francisco mint dime:
Very Good (Grade-8) = $42.00
Fine (grade-12) = $50.00
Very Fine (grade-20) = $67.00
Extremely Fine (grade-40) = $130.00 and
Almost Un-circulated (grade-50) = $575.00

The same thing is true for the 1913 Quarter Eagle coin you need a professional to appraise the grade and only then can a value be assigned. The $2.50 coin is a hot collectable and can sell from as little as $200 for a badly cleaned one to $1200 for a nice specimen. Recent auctions have realized on average from $195 to $650 for nice collectable pieces.

Thank You and Good Luck

PapaJack