Three-Cent Nickels Might Be Worth a Few Dollars
Question: I have a small silver coin about the size of a dime. On the front is a Liberty head with United States of America, 1868. On the back is a leaf-wreath design around the edge. The center has a Roman numeral III. Could you give me any idea if it has some value? I also have 1882 and 1885 silver dollars with a small s on the back side, and an 1891 silver dollar with a small o on the back side. Are they valuable?--V.A.H.
Answer: Your small coin is an interesting denomination, but it is not silver, as you described it, but actually nickel. In fact, three-cent silver pieces were issued from 1851 to 1873. The three-cent nickel (so-called because of the composition of 75% copper and 25% nickel) was issued from 1865 to 1889. It was born in the wake of the Civil War and was intended to have low intrinsic value to prevent hoarding.
Three-cent pieces are the smallest coins ever authorized by Congress. Initially, nickel three-cent pieces were struck in massive amounts, the government hoping that they would circulate widely and help alleviate the coinage shortage caused by hoarding during the war. Your 1868 piece, for example, is one of more than 3.2 million produced that year. In 1865, more than 11 million were issued. However, the coin was not as popular as the government had hoped, possibly because transactions in three-cent pieces were not as simple as using a single-cent, five cents or other denominations.
Nice examples of three-cent silver and nickel pieces can be quite expensive, partly because the small size did not lend itself to quality production, so fine examples are highly prized.
Your coin would have to be seen to be properly graded and evaluated. Starting prices for the 1868 three-cent nickel are about $5 and up.
Your dollars, on the other hand, have the intrinsic advantage of silver and are worth $10 each and up, depending upon condition.
Q: I found what appears to be a canceled-coin die with my metal detector. Are these dies of any value? From the enclosed drawing, can you tell what country, date and denomination it is? I checked Krause’s “World Coins” and could find nothing.--T.L.H.
A: Sorry. I’ve also drawn a blank. Take it to a coin dealer for identification.
Q: While working in the Middle East, I found some old coins in an area that had been abandoned around AD 1000. These are lead (some cut in segments to provide change, I presume), copper and bronze, and one is fine gold. Several coins appear to be other than Middle East in origin. Can you tell me the names of any dealers who are knowledgeable on such items?--N.L.S.
A: As a matter of policy, I do not recommend specific dealers. I think you can understand why; however, there are several things you can do for yourself. Call several dealers. If they are not knowledgeable on the subject, they might be able to recommend someone who is. Check the Yellow Pages. Many dealers advertise their specialties. I notice that you live in Orange County, so you might want to check with the Numismatic Council of Orange County, Box 10331, Santa Ana 92711. Attend a coin show. Many dealers attend these events, and even if no one present can help you, you can be sure that they’ll know someone who can.
Q: I have a $10 gold certificate, Series of 1922. Because it is so worn, it is encased in plastic. Is there any value and, if so, where might it be redeemable?--R.B.B.
A: Your bill is worth about $5 and up, depending upon condition. If it is creased, torn and generally worn, as you indicate, expect the minimum. Most coin dealers also handle paper currency. It is not redeemable at the Treasury.
Q: About 30 years ago I bought the following Indian-head cents: 1859 uncirculated, 1880 uncirculated, 1881 proof, 1884 uncirculated, 1898 brilliant uncirculated, 1904 brilliant uncirculated and 1908 uncirculated.--S.O.
A: Grading standards were considerably more related 30 years ago than they are today. The margin of difference was not as great then as now, and uncirculated coins were not nearly as expensive as they are now. Still, giving the benefit of the doubt to standards used to grade your coins, the 1859 would be worth $200 and up, the 1880 $20 and up; the 1881 proof $75 and up; the 1884, 1898 and 1908 $20 each and up; and the 1904, $25 and up.
Q: I have a 1983-P nickel with the first L missing from the Monticello on the reverse. Is this worth anything?--D.J.
A: It doesn’t sound like a major error. It could even be just a weak strike. Offhand, I’d say your Jefferson nickel has little or no collector value.
Coin Calendar
Saturday--Americana Stamp and Coin Co., which leans more to stamps than to coins, is inaugurating an interesting new concept--weekly stamp auctions. The first will be Saturday at 2 p.m. after the noon grand opening at its new location, Tarzana Square, 18385 Ventura Blvd., Tarzana. Jay Tell, Americana president, says several hundred lots will be offered weekly, including collections and U.S. classics, British Commonwealth, West Europe and worldwide.
Coin News
More than 450 counterstamped coins from the Roy H. Van Ormer collection will be included in the Sept. 9-11 Bowers & Merena auction in New York. Counterstamps are officially applied to change the value of a coin or unofficially applied for advertising or other purposes. Two counterstamp examples are pictured with the 1857-S $20 gold counterstamp selling for $15,000 10 years ago. For a copy of the 328-page catalogue, send $10 for the September Catalogue to Auctions by Bowers & Merena, Box 1224 NR, Wolfeboro, N.H. 03894.
More than 1,300 lots will be sold at the Hong Kong International Coin Exposition and Rare Coin Auction Sept. 6 and 7. The first session will feature bank notes, bonds and shares; the second session has gold and silver coins of the world. For an illustrated catalogue, with estimated prices for each item, contact the Money Co., 19900 Ventura Blvd., Suite 200, Woodland Hills 91364; telephone (818) 883-4496.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.