Expert: Joe Hylas - 3/10/2009

Question
I have 4 American Prospector coins. The 1985 is silver and the other 1986 coins are gold. They all have a man panning gold on the front and the back shows an eagle and the words Engelhard one troy ounce.999 fine silver. Can you tell me the value and why the 3 are coated to look like gold?

Also, I have many coins from my father that have been kept away for a long period of time and have become musty/mildew. I have read not to clean them, but would a rinse with plain water hurt them?

Is it unusual for an appraiser to charge per hour? I have contacted a few local dealers and they are asking upwards of $50 an hour to look at the coins. I have 3 plastic shoe boxes full of assorted coins so I think it would take longer than an hour, and I don't really know where to start. Any suggestions?

Thank you for your time,
Sue

Answer
Hi Sue,
The Silver Prospectors are worth about $14 each.  Why some were plated is anyone's guess but they were not minted that way.

$50 per hour for an appraisal is not unrealistic provided that you get a true appraisal.  When I do appraisals, I inventory every item of value and place a value on it.  There is no point wasting time and money appraising a 5 cent coin.

Save some money.  Get a copy of the GUIDEBOOK to US COINS by RS Yeoman.
It lists every US coin and the RETAIL value.  You would not get that price when you sell to a dealer but the point is that the book will show you which coins are rare and which are common.  

Good Luck
Regards
Joe Hylas
www.AllCoins.US