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Coin and Paper Money Collecting/1792 and 1889 coin value :)

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Expert: Brad Swain - 3/26/2010


Question

1792 Carolus IV
Good day sir just want to ask the current value of my coins. Its a 1792 Carolus IV and a 1889 one dollar coin. Your input regarding this will be much appreciated. Thanks in advance and more power to you :)

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Answer
Hi Voltaire, If genuine, the first seems to be a silver dollar sized Spanish-Mexican 8 Reales. That design features King Charles IV (1788-1808). The I and J are the Lima mint's assayers' initials. The Lima mintmark is a monogram of LIMAE. There were 4.66 million minted that year. It should weigh 27.0674 grams and would contain .8960 of an ounce of silver.
Weighing it may be the best telltale of its genuineness.
Collector value depends on date, number minted and condition of a coin, including amount of wear, any dents, scratches or cleaning. A genuine one may be worth about $20 with heavy wear (yours) to maybe $75 with moderate wear to possibly $90 with light wear. You might also try a library for a copy of the Standard Catalog of World Coins for pictures, values and lots more interesting info.
The “Spanish Milled Dollar” and its fractions were the principal currency through the early 1800s in U.S. everyday circulation and were legal tender as late as 1857.
You might find similar pieces on Ebay.com for comparison.
These sites are also a great info source:
http://carlclegg.com/pillars/design.html .
http://www.coinsite.com/content/faq/8RealesMilledPillar.asp .

U.S. silver dollars weigh 26.73 grams and contain .7736 of an ounce of silver. This Morgan dollar (1878-1921), nicknamed after its designer, sometimes has a mintmark letter below the eagle. Yours doesn't so it was one of the 21.7 million minted in Philadelphia that year.
Collector value may be worth about $18 with heavy wear to around $27 with moderate wear to maybe $30 with light wear (yours).
You might also try a library for a copy of the Guidebook of United States Coins for pictures, values and lots more interesting info.
Brad

Brad Swain

Expertise

I have been a World Coin and Paper Money collector since about 1965. I will be glad to answer any questions you may have on World coins or currency, tokens, unusual or unknown pieces and attempt to give you estimates of value and historical information about them in a polite and prompt manner.

Experience

45 years collecting coins and paper money.

Education/Credentials
BA History, BA Geography - Virginia Tech

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