Expert: PAPAJACK - 3/3/2009

Question
I have a $1 us gold coin dated 1874. I know nothing about grading coins. The coin appears to my untrained eye as in excellent condition. I am seeking a value.

Answer

Hello Donna,                                                        

These are valuable coins at this time since gold is so expensive. There are many variables in assigning a value to a coin; each has to be examined in person.

The chart below is from a buyer and provides a value they would pay for American Gold Coins that are undamaged and grade extremely fine (EF = a Grade 40 out of a possible 70 points). The prices listed are based on a gold market price of $850 per ounce. When gold was at $867 per ounce a dealer has the buy price for $1 Gold Piece paying $150 up
They contain .04837 ounces of gold.
They are called the Indian Head type and were made until 1889.

They retail at shows from $130 in low grades to about $240 in almost un-circulated grades.

PapaJack