Expert: PAPAJACK - 3/13/2008

Question
QUESTION: I have no base of knowledge for this.  I read in your last answer to get something called a RED BOOK.  I plan on doing that...but in the meantime can you tell me about the following coins:

1922 Peace Dollar  (he enclosed it in plastic, has good shine)

1949 S Roosevelt Dime, (also in plastic, he noted that it is a "key date"?  and is worth $6.50)

1934 Peace Dollar, (also in plastic, noted that it is worth $40)  

When I checked another website they had a lot of jargon on it that I didn't understand, and I don't want to take advantage of an avid coin collecter nor vice versa.  Anything you can tell me would be helpful.  Thanks.  --Trish

ANSWER: Hello Trish,          

1922 Peace Dollar (he enclosed it in plastic, has good shine)
The shine on a coin does not always add value but it is easier to sell if it has good eye appeal. A nicely toned coin is just as sought after by collectors.
This coin was made at 3 mints. The 1922 coin is a PEACE DOLLAR. Named for the eagle reverse resting on a rock with the word PEACE below. Most of our coins have the Eagle ready for war or Heraldic Design.  
The 1922 no mint mark PEACE DOLLAR Coin varies in price from $16.00 in grade-8 to $25.00 dollars in grade-50. If it is Un-circulated (Mint State 64 to 70) it sells for much more.
The mint Mark will be on the reverse (back) of the coin between the rays below the letter "0" in the word ONE (if there is a Mint Mark at all).  The D, S marks are similar in value.
Also these coin dates were produced in the MILLIONS.  And are still readily available, thus the low prices for all the circulated specimens.  

1934 Peace Dollar, (also in plastic, noted that it is worth $40)
This coin was also made at the three mints, The Philadelphia and Denver are valued the same form $17 in grade-8 to $60 in Grade-50. The San Francisco issue is much more valuable in grades higher than AU-50 (Almost Un-circulated) over $125 and up to $600 depending on its attributes.
A current value of $40 makes it likely to be a Philadelphia or Denver issue in grade EF-40.
1949 S Roosevelt Dime, (also in plastic, he noted that it is a "key date"? and is worth $6.50)
The actual grade of the coin is needed to decide the current market value. But if he bought it for $6.50 in say the 1980's it must be a pretty nice looking one.
This is a Key date for the Roosevelt Dime since the San Francisco mint made less than usual. But the coin can be purchased in beautiful shape for $18 dollars at this time.

Thank You and Good Luck

PapaJack

---------- FOLLOW-UP ----------

QUESTION: I enjoyed reading your previous answer, because my uncles name was Jack.  He died in 2003 and I feel like he is helping me now.  I am just trying to narrow down the range on the 1934 Dollar, so I'm hoping if I add some more details it might help.  There is no mint mark under the letter "O" under the word "ONE" on the back.  What would help me determine the grade?  I can tell you that there is some tarnishing and a burn mark on either side, if that helps.  Thanks again.      --Trish

Answer
Hello again Trish,          

Grading coins is quite involved depending on how exact you want to get the grade number. But here is a description of what you look for.  When you do get a copy of "A GUIDE TO UNITED STATES COINS” by R. S. Yeoman, weather it is the blue book or red book, it will break it down more for you at the beginning of each series of coin type. It is reprinted each year and does not even have t o be the newest printing a used one is fine for grading.

Mint State (Unc) - Absolutely no trace of wear.
Mint state coins vary from MS-60 to MS-70.  
MS-70 is perfect. No blemishes, good strike, great color etc…  An average shiny new coin from the supermarket is likely only MS-63 grade.

Almost Uncirculated (AU) - Small trace of wear visible on the highest points
AU coins come in AU-50, AU-55 and AU-58. You probably won't be able to tell the difference between AU and Unc coins. The most important thing in grading a coin is to know is where the high points are on a particular series type so that you can look for the minimal wear there. Look for a difference in how the light reflects from most of the coin versus the very highest points. If it doesn't reflect off of the high points the same way as it does from the rest of the coin, then you probably have an AU coin.

Extremely Fine (XF or EF) - Very light wear on only the highest points.
XF coins come in XF-40 and XF-45. With an XF coin, you can usually see the wear without messing around too much, but it is a very small amount of wear. There is often some of the mint luster left on the coin. Most of the devices on the coin are clearly defined.

Very Fine (VF) - Light to medium wear. All major features are sharp.
VF coins come in VF-20, VF-25, VF-30 and occasionally VF-35. The key word here is major. Minor features such as some of the finer hair detail, feathers, etc. will be worn.

Fine (F) - Moderate to heavy even wear. Entire design clear and bold.
Fine is labelled F-12 in the scale. Your average 1965 quarter from circulation is Fine. A lot of the details are gone, but you can still see a good deal of the design.

Very Good (VG) - Well worn. Design clear, but flat and lacking details.
Very Good is VG-8 on the grading scale. The entire design is weak, but a few details are visible. Full rims are a requirement for this grade. A full rim means that you can see a line around the edge of the coin where it was raised up.

Good (G) - Heavily worn. Design and legend visible but faint in spots.

Feel free to write me back on any terms you do not understand in these descriptions. No one can grade a coin without seeing it. For a single coin like this you can take it to 3 or more coin shops to get their opinion of the grade for free.

Good Luck

PapaJack