Expert: PAPAJACK - 8/22/2007

Question
QUESTION: I have a 1/4 oz. fine gold 10 dollars gold coin dated 1997.  Would you have any idea of the value?  On the back of the coin it states exactly as above "1/4 oz. fine gold ~ 10 dollars.  Thank you for your help.

Sue Miller

ANSWER: Hello Sue,          

Thank you for selecting me for your answer.

You have a 1997 bullion gold coin. "Modern Gold Eagle" It is a bullion coin; in 1986 the US started selling silver and gold in the form of coin.  It does not need to be assayed before reselling. Now any body can own Silver or Gold and even Platinum bullion for Investment or any reason.

They come in Tenth Ounce, Quarter Ounce, Half Ounce and One Full Ounce coins with $5, $10, $25 and $50 dollar face values, except the Silver Eagle it only comes in the One Ounce size with a $1.00 face value denomination.

Market value rises and falls with the price of gold on modern bullion coins. The weight of the coin is divided into the price per Troy Ounce.  Your coin is 1/4 Oz Troy so if gold closes at $800.00 per ounce your coin is one fourth of that or $200.00. With gold at $661 an ounce your coin contains $165.25 worth of pure gold. You may get as much as $185 dollars from a collector that wants it.

Important, let me add that there are also Proof Coins Made.

The Proof Versions of the coin sell at higher prices, from 30% to 100% more depending on the date and condition. Proofs have a Mirror like Background and Frosted Devices making them stand out. They are also in holders as to not damage the delicate surface. The 1997 proof coins lists from $211 to $320 depending on its grade.

Please remember to rate this answer.

Good Luck

PapaJack


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

QUESTION: Thank you so much for your very informative and prompt answer.  My gold coin is in a sealed holder and has never been opened.  Can you tell me what you mean by Frosted Devices?  Also, I live in the Tampa Bay Area of Florida, could you recommend any one in this area if I want to sell?  Thank you once again.

Sue Miller

Answer
Hello Sue,          

Proof coins are made on special polished blanks. They are like a mirror and the raised image is frosted using a sandblast in the die. When the coin is struck it imparts a Cameo look against the mirror polished background.

Here are three dealers in Tampa you can talk with.

MS Coins Inc
Tampa, FL 33625
Phone: (727) 455-6196
Specialties Buying Coins, U.S. coins
Part time dealer
E-mail: coins@highgradecoins.net
Website: http://www.highgradecoins.net  


Tampa Coin & Precious Metals Inc
PO Box 270474
Tampa, FL 33688-0474
Phone: (813) 969-3666
Specialties Buying Coins, Lincoln Cents, Proof Sets  
Part time dealer


Village Stamp and Coin
1747 W Fletcher Ave
Tampa, FL 33612-1820
Phone: (813) 962-3880
Specialties* Buying Coins, U.S., World Coins

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Thank You and Good Luck

PapaJack