Expert: Dan Moore - 1/20/2010

Question
My friend has a coin with an eagle on the front of it and a bunch of writing on the back, but basically it says .999 Troy Ounce Fine Silver.  It is minted by A. Letcher.  From what I've gathered so far, I'm guessing you're going to tell me that this coin is basically what it says, one troy ounce of silver, hence, whatever silver is going for, that's about what it's worth.  But just to make sure, I would sure appreiciate it if you could tell me what this coin is and it's potential value.  Oh!  I forgot to tell you that the date on it is 1974.  It shows some "patina", and there are some small dings on the edges of it, but the detail is pretty clear.

I'm not a coin collector obviously, but I thought I'd try to help a friend out.  Also, as long as I'm "here" I recently obtained a coin that I thought was rather odd...unfortunately I can't jump up and get it because I'm a little disorganized, but I'm curious more than anything.  My coin is about the size of a silver dollar and appears to BE silver.  It is in very good condition.  What's confusing about it is on the top it says In Memory Of John F. Kennedy, Jr., or something to that affect with JFK, Jr's. face. Underneath that it says 10 dollars.  On the other side there is quite a bit of writing, but what I remember most is that it says LIBERIA.

Huh?  Is this thing a wooden nickle?  Is it worth 10 bucks, no value or what?  Why would Liberia have a memorial coin to honor JFK, jr.?  

I thought it was odd...any information you can give me, minus the laughter, would be helpful.

Actually, I don't mind the laughter either, better to make someone laugh than it is to make them cry, so laugh away if it's funny!

Thanks so much for your time and for sharing your expertise...my personal expertise lies in antique costume jewelry...and believe me, I've laughed a time or two at blatant ignorance, but mostly I've expressed concern where I found a couple of people who had a whole bunch of stuff worth quite a bit of money, and they had no idea what they had! My personal collection was stolen, so that really adds the "ouch!" when I see that.  Ignorance isn't always bliss, but it sure seems to be most of the time!

Thanks again and...

God Speed,

Shannonthm

Answer
Shannon,

You are correct, the value of that .999 coin is just that -- an ounce of silver.  It's one of many hundreds of privately minted silver rounds out there.  Current value is about $17.00

That Liberia coin is actually privately minted.  They just pay Liberia a royalty to use their name for advertising purposes.  You cannot redeem it in Liberia for $10, and unless it's marked otherwise, it has no silver value.  So unless it's marked somewhere on the coin as .999 pure, Troy ounce, or Sterling, it has essentially no collector value.

I hope this helps,

Dan