Expert: Troy Thoreson - 3/25/2009

Question
QUESTION: Dear Sir I have a 1912 Gold Ten Dollar Coin and 1924 Gold Five Dollar Coin.  Both are in very good condition.  How can i understand the value of these items?

Thank you



ANSWER: Hi Cece,  

The U.S. Ten Indian gold coins are notorious for being counterfeit. If authentic the coin is most likely worth in the $500 to $800 range.  They did not make U.S. 1924 Five Dollar Coins - so I'm not sure if you got the denomination right.  If it is a $20 Dollar 1924 coin it is most likely worth $900 to $1250. If its a 1914 Indian Five Dollar then it is most likely worth $275 to $350.  I give these numbers in general terms for what most coins go for, it is possible you have an exception that is worth more or less.  Without seeing the coin in person it is impossible to give an exact evaluation.  You can always take the coins to a local dealer in your area.  We deal in these types of coins all day long.  Thanks and let me know how you do.

Please remember to never clean coins, this can damage and lessen their value.  Also, soft plastics can contain harmful chemicals that can react with coins over time.  Try using inert materials when storing coins.  Plus, it is always a good idea to store coins in a safe.  The safe should not be exposed to the elements and should not be up against a wall to the outside.  These are just a few tips I have learned over the years to help keep your collection in top shape.

If you found this information helpful please nominate me for category expert in coins.  If coming through Los Banos, CA please feel free to look us up at Thoreson Numismatics.

Thanks for the question,

Troy Thoreson, aucpro.com








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

QUESTION: Yes - I gave you the wrong date for the coin.  I meant 1914 Gold Five Dollar Coin.  I would also like to know the best way to find a coin dealer in my area

thanks

Answer
Hi Cece,

Our business is a good example.  Look for a Coin Dealer with an established physical location in the yellow pages.  Check if the owner is a life member of the American Numismatic Association. Plus, the entity should be an authorized dealer for both PCGS and NGC (these are independent grading companies).  If all 3 questions are a Yes, then you most likely have found a good coin dealer.  I hope his helps!  Thanks, Troy