Expert: Dan Moore - 12/11/2009

Question
Hello. How are you? I found a coin in the register at work. I've done a bit of research on it myself because I want to turn it in for cash. I saw many different prices. When I took it to a coin shop the guy there was very rude to me. He said someone has polished it, $246.00, that's all I'll give you for it. So I took my coin and left. I believe it's 90% gold. It's about the size of a nickel. On the front, it has 13 stars going around liberty's head which is facing left. On the back it has an eagle with it's wings spread and it's clutching arrows in the right "foot" and some type of branch in the other, and it says United States Of America five D. In god we trust in a banner on top. I know there were quite a few of these made. Can you tell me what it would be worth? There's no mint mark. Does that mean it's from New Orleans?

Answer
Hi Angela,

From your description it certainly does sound like you have a $5 gold half eagle.  Having no mintmark means it came from the main mint in Philadelphia.  There were 5.7 million of them minted -- the largest mintage of any year by far.

If it has been polished, then it has lost any collector value it may have had.  It now only has value for its gold content -- 0.24187 ounce.  At the current gold spot of $1125, that's about $272 worth of gold.  With the current high demand for gold, that dealer's offer was a little low, but not much -- $265 would be a fair price.  Running a coin shop has a lot of overhead, so it is normal to get a little less money for your items there -- the place to get the best price is usually at a coin show -- less overhead and more competition.

You can keep an eye on current gold spot prices at www.kitco.com

I hope this helps,

Dan