Expert: Dmitry Livshits - 9/5/2011

Question
Dear Mr. Dmitry Livshits:

I possess a 1797 Georgius III D: G R E X Britannia coin and have been told it is only worth $15.00 at the very most and $1.00 at the very least.  I cannot believe that a coin this old is only worth at very best $15.00.  I have done some research on this coin and have seen that some of them can bring in somewhere in the amount of $1,000.00.  I am assuming that those coins are in exceptional condition.  

Mine is in decent condition, it has some pitting but nothing that I would consider major but maybe it is I don't know.  But I think the age alone should warrant a higher price than $15.00.

Anyway, Mr. Livshits, what I was wondering if you can give me a little more history about this coin and maybe some better news about its value.  I know that it came from England and it was a penny in 1797, that's pretty much the extent of my knowledge of this coin.  Any further information will be accepted happily.

Thank you.

Answer
Hi Ellen,
When dealing with world coins age is relative. For example, coins from ancient China that are thousands of years old can be purchased readily for just a few dollars each in decent shape. It all comes down to how many are available. In the case of English coins of the 1797 series, there were tens of millions of them made. The ones that are $1,000 would be proof versions, which are scarce specially prepared pieces of a much higher quality than the general "business" strikes intended for circulation.
As far as value it's difficult to tell without a clear picture, but a decent coin with some pitting is likely going to be in the $10 to $20 range for the 1797 "cartwheel" design penny.
An American coin from this year would be much more valuable simply because many fewer exist in any condition.
Thanks for the question! =)