Coin and Paper Money Collecting/one pound silver coin

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Expert: - 11/12/2009


Question
Hello,
I've tried to search for this information online but have found nothing useful.  
I have a coin.

On one side of the coin it is dated 1885 with "in god we trust"  directly over the date.  I assume it is a picture of Lady Liberty.

It says "one pound .999 fine silver" on the reverse side which also has an eagle on it. On that same side is says "Trade dollar".

The coin is about 3.5 inches in length.

It weighs about 404.4 grams with the plastic case.

Is this a rare coin? Is it legitimate?  I have read many things saying this coin maybe indeed just plated or possibly worthless.

Please help.

Thanks,
Ross

Answer
Ross,

Technically, what you have is not a coin, but rather a silver bullion round.  The .999 designates that it is made of pure silver -- not plated.  It is privately made (not from the U.S. Mint) and contains 12 Troy ounces of silver (373 grams).  Its value, based on the current price of silver, is just a little over $200 and will vary only on the current silver spot price -- see www.kitco.com

I hope this helps,

Dan

Coin and Paper Money Collecting

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Dan Moore

Expertise

My strong familiarity with all U.S. Mint coins, extensive reference library, and close relationships with many other dealers allows me to identify just about any coin made in the USA. I receive regular updates to all the current price guides -- both wholesale & retail -- to provide accurate values. So, with a good description or pictures, I should be able to identify and value any U.S. coin you have.

Experience

I've been a coin dealer since the 1980's and a coin collector since the 1960's. I specialize in U.S. Silver Coins and have an active online website -- The Working Man's Rare Coins -- http://www.workingmancoins.com -- offering information and inventory in U.S. coins.

Organizations I belong to :
American Numismatic Association Member #187770
Michigan State Numismatic Society Member #8255
Florida United Numismatics Member #19710
Monroe Coin Club Treasurer
Lincoln Coin Club Board Member
WINS Member #14
CoinMasters Member #1814

Frequently Asked Questions :
I have created a Frequently Asked Questions page on my website, where you may be able to get an immediate answer to your question. You can find the page here :
http://www.workingmancoins.com/FAQ/index.htm


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