Expert: PAPAJACK - 11/3/2008

Question
I have several coins I have been trying to look up online.  
1.  Where do I take them to be appraised?  
2.  How do I know if it is worth the effort?

One Dollar Coins
Liberty (?) 1884, 1886,1896, 1900 (no mint marks)

One Dollar Eisenhower
(4) 1971 all with mint marks
(4) 1972 no mint marks
(2) 1972 with mint marks

Half Dollar
1908 Liberty
1915 Liberty (d)

1937 Buffalo/Indian Head Nickel

This is just a sampling ....

Thank you,

Allyson

Answer
Hello Allyson,        

One Dollar Coins: The 1884, 1886, 1896 and 1900 are Morgan dollars
Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting another 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 "Morgan Dollar" 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 titled "A GUIDE TO UNITED STATES COINS” by R .S. Yeoman. If you can borrow a copy it will help. The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. And uses the 1 to 70 scale recognized by all professionals since the 1970's.

Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale.

Here's a quick wear/Grading guideline:

GOOD or Grade 4:
Letters and date clear no feathers 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.

FINE or Grade 12:
All details strong and definition remains on some high areas of the coin.  

VERY FINE or Grade 20:   
Two thirds of hairlines show. Ear is well defined. Feathers on eagle’s breast worn.

EXTREMELY FINE or Grade 40:  
All hairlines are strong. Only slight wear on eagle’s breast and wing tips. Some Original Mint Luster shows.

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

The Morgan Type silver dollars are 90% silver. This makes the value of an extremely worn coin still worth 8 or 9 times its face value just due to the precious metal content. Depending on the state of preservation (or Grade) and the Mint Mark (if any) they can vary greatly in value. Common issue dates in circulated condition are plentiful. These are approximate since the coins have to be seen to be properly estimated.

Very Good (Grade-8) = $16.00
Fine (grade-12) = $16.50
Very Fine (grade-20) = $17.00
Extremely Fine (grade-40) = $19.00
Almost Uncirculated (grade-50) = $23.00

Eisenhower One Dollar coins 1971 all with mint marks, 1972 no mint marks and 1972 with mint marks.
These have no real collectable value in circulated grades they trade at par to about 1.15 each for nice examples to collectors. If they are in mint State they can sell for about $3 each and a bit more if they have the S mint Mark.

Half Dollars;  
1908 and 1915D Barber Head or Liberty type;
These are both common dates and sell retail from $8 in grade 4 to around $100 in grade 50.  A quick grade can be determined by how many letters in the headband still show.

1937 Indian Head Nickels sell for less than $10 at retail in circulated grades.

If you want an experienced coin person to look at the coin write me back, give me the nearest large Cities, some postal zip codes and telephone area codes. I will refer you to an expert in your area.

Please feel free to ask me others about this or any US Coin. If there any more information you require on this question just ask.

Thank You and Good Luck

PapaJack