Expert: PAPAJACK - 5/23/2007

Question
Hi,

I, like most people, think I have valuable coins. I know the chances are slim, but I thought I'd run it by an expert.

1943 Quarter....
1891 Silver Dollar
1921 Silver Dollar
1934 Silver Dollar

Thanks for your time and sharing your knowledge.

Don

Answer
Hello Don,                 

None of these coins are special but the 1934 if it has an S mint mark and they all do have collectable value.

1891 Silver Dollar:
1891 with no mint mark or S mint mark

Let me note that you should never clean your coins. This removes the surface protection and cuts the value from 40% to 90% !

Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting another collector look at them, and even most coin shops will help for free on one or two pieces.
 
In each series of coin type like your "Morgan Dollar" there are some quick reference points of wear to be seen on the high points that are known to show wear first.
Most of these are covered in the RED BOOK. If you can borrow a copy it will help. The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. And uses the 1 to 70 scale recognized by all professionals since the 1970's.

Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale.

So remember a grade of Good or 4 out of a possible 70 is a low grade.

Here's a quick wear/Grading guideline:

GOOD or Grade 4 :
Letters and date clear no feathers on reverse but no wear to the outside rim from letters.

VERY GOOD or Grade 8:
Normal wear, flat looking, very little sharpness remains but all major details visible.

FINE or Grade 12:
All details strong and definition remains on some high areas of the coin.  

VERY FINE or Grade 20:   
Two thirds of hairlines show. Ear is well defined. Feathers on eagles breast worn.

EXTREMELY FINE or Grade 40:  
All hairlines are strong. Only slight wear on eagles breast and wing tips. Some Original Mint Luster shows.

MINT STATE Grades 60 TO 70 :
STRICTLY NEVER CIRCULATED.  NO TRACE OF WEAR. Nice luster on coin.

The Morgan Type silver dollars are 90% silver. This makes the value of an extremely worn coin still worth 8 or 9 times it's face value just due to the precious metal content. Depending on the state of preservation (or Grade) and the Mint Mark (if any) they can vary greatly in value. Common issue dates in circulated condition are plentiful. These are approximate values for common date and mints circulated coins. These are approximate since the coins have to be seen to be properly estimated.

Very Good (Grade-8) = $16.00 for the Philadelphia and New Orleans issue and the San Francisco issue = $65
Fine (grade-12) = $15.00 for the Philadelphia and New Orleans issue but San Francisco issue = $120
Very Fine (grade-20) = $17.00 for the Philadelphia and New Orleans issue but San Francisco issue = $140
Extremely Fine (grade-40) = $19.00 for the Philadelphia and New Orleans issue but San Francisco issue = $190
Almost Uncirculated (grade-50) = $23.00 for the Philadelphia and New Orleans issue but San Francisco issue = $225

And if the coin is Uncirculated or has very little wear there would be a demand for it and the price can vary greatly.
If truly a MINT STATE GRADE it can be worth a good amount.
FOR THIS  PRICE DIFFERENCE IT IS WORTH AT LEAST HAVING ANOTHER PROFESSIONAL LOOK AT THE COIN.
Very Good (Grade-8) = $13 to $15
Fine (grade-12) = $16.00
Very Fine (grade-20) = $18.00
Extremely Fine (grade-40) = $19.00
Almost Uncirculated (grade-50) = $21.00

The 1891 O Mint is worth more in high grades and the 1891-CC is worth from $70 to $200 in circulated grades.

Only if the coin is Uncirculated with very little wear there would be a demand for it and the price can vary greatly.
 
1921 Silver Dollar:
This Year came in two types, The Morgan dollar and the Peace Dollar.

Almost anyone who collects is willing to buy the 1921 PEACE type Dollar. If it has never been cleaned or damaged it is a one year type coin and a great collectable.
The PEACE type 1921 dollars sell to collectors for $25 to $90 dollars in circulated grades and less to dealers.
The Morgan type sell to collectors for $10 to $13 dollars if circulated and less to dealers.  

To sell a single coin just look up coin shops in the phone book. If there is more than one good but it won’t be necessary to go to more than three places to get the best buy price.
If possible go to a coin show in your area admission should be free but check, and go to any three dealers tables for their opinion.
You will easily sell it there. As I said dealers will not be able to pay a retail value for the coin.

1934 Silver Dollar
These are 90% silver PEACE type Dollars and sell in circulated condition, from $8 dollars each to about $35 for common dates. Also note they were made at different mints and that makes them vary in price. If you let me know the Mint Marks if any Grade and condition of the coins I can be of more help.  The mint Mark will be on the reverse (back) of the coin between the rays below the letter "0" in the word ONE (if there is a Mint Mark at all).
The Philadelphia and Denver issues retail from $20 to $40 dollars in circulated grades.
The San Francisco issue runs from $30 to $300 so write me again if you need grading help for your peace dollar.

1943 Quarter....
In grades from 40 to 50 about $3. The S mint may get you up to $7 in grade 50.

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Thank You and Good Luck

PapaJack