Expert: Ronald Fern - 1/10/2010

Question
QUESTION: Hi,
I'm wondering about a coin that I found in my grandfather's collection.   On the front is an indian, facing left surrounded by "united states of america" and on the reverse, "1 Dollar 1851" in center surrounded by olive? leaves then United States of America again.  The coin is 1 1/2" across and about 1/16" thick with a ridged edge like a quarter.
Any thoughts?
Thank you in advance,
Tony


ANSWER: Hi Tony:

The approximate retail value of an 1851 $1 gold coin, according to "Coin Values" is in the $225 for very fine to $1000 for choice uncirculated, but with gold trading over $1135 a troy ounce, the coin could bring a little more. You may want to take it to a local coin shop. Dealer's should offer an opinion of the coin's grade and value for no charge.

The US $1 gold coin was first issued in 1849, and has a Liberty Head, not an Indian, and stars, not "United States of America" on the obverse. The Liberty Head gold dollar had a diameter of only 13 mm. At less than three-quarters the size of the present-day dime, it was the smallest coin in U.S. history. Weighing 1.672 grams, the coin had a composition of .900 gold and .100 copper. It therefore contained .04837 ounces of pure gold.

Yours is likely a replica token of a gold dollar token. The other side partially matches your description. The tokens trade regularly on eBay in the $5 to $10 range.

See link for more $1 gold coin information: http://en.wikipedia.org/wiki/Gold_dollar

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Thank You and Good Luck in your collecting.

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

QUESTION: Thank you!   I should have stated that this coin is silver... and the indian on the front is wearing a huge headdress.   My guess based on your response is that it's a replica of some sort.
Tony

Answer
Hi Tony:

Yes, most likely. You didn't say what the diameter was. My guess is that it's likely small. If it's as large as a silver dollar, then it could be a silver round, and worth about $20 to $25 at the present rate of silver at $18.74 a troy ounce.

You may want to check out these links on silver bars and rounds:
http://www.rivercitycoins.com/silverrounds/celebrity/celebrityrounds.html
http://bullion.nwtmint.com/silver.php

Please remember to go to the experts site to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.