New Rules Help Nickel Make the Grade

Question: What can someone who has no idea about coins do with a complete United States nickel collection that has been in a safe-deposit box for over 17 years? What approach should a novice take to have it appraised, determine the market value and store it? I’ve read the “Official American Numismatic Assn. Standards for United States Coins,” so now I need to step out into the real world. --D.B.B.

Answer: Well, welcome to reality. You’ve raised some interesting and basic points. You’ve also failed to supply vital information. Which type nickel set do you own? Are they Shield, Liberty, Buffalo or Jefferson? It would be unusual if you own a full run. Shield nickels (1866 to 1883 minus the extremely rare 1877, 1878 and 1883/2) are worth from $700 in good to very good condition to $4,000 and up uncirculated. Liberty nickels (1883 to 1912) are $300 in good to very good condition to $4,400 and up uncirculated. Buffalo nickels (1913 to 1938 minus the rare 18/17 overdate) are $295 to $8,000 and up; Jefferson nickels (1938 to present) are about $25 to $175.

So, what you first have to do is determine the type of set you have, then you have to determine the condition of each coin. Your ANA grading guide will not help you because it is obsolete. The ANA has just altered its standards, creating new intermediate grades and generally throwing the entire grading system into a state of confusion. Basically, the changes now recognize numerical grades Mint State 60 through MS-70, adding five intermediate grades--MS-61, MS-62, MS-64, MS-68 and MS-69 to go along with the existing MS-60, MS-63, MS-65, MS-67 and MS-70. Also, there’s now an About Uncirculated 58. Adjectives, such as select, choice or gem will be eliminated for Mint State coins but retained for those below Mint State.

It’s difficult to say how these changes will affect the coin market. How many experts will be able to determine the difference between an MS-61 and an MS-62, for example, remains to be seen.

And what this does to pricing also remains uncertain.

You might want a professional numismatist to appraise your collection. The charge is usually about $75 an hour. That would also be the time to determine if your coins are being properly stored. Safe plastic holders are available at most coin stores.

If the coins are worn, it would not be worth the expense of having them appraised. If you are uncertain, take several coins to various dealers and see what sorts of offers you can get for them.

Q: I have a gold coin depicting the Golden Gate Bridge. I believe it is solid gold, and it is the size of a 50-cent piece. Could you please tell me its value? --J.B.

A: Your description is not familiar. I suspect what you own is a medal, not a coin. If indeed it’s gold, it will have some value, depending upon weight and purity. Take it to a coin dealer for identification.

Coin News

Canada’s 1986 $100 gold coin will commemorate the International Year of Peace. The design depicts a branch of maple leaves intertwined with a branch of olive leaves, symbols of Canada and peace, respectively. The words Peace-Paix are superimposed on the design. The obverse bears the likeness of Queen Elizabeth II. The 22-karat gold piece, limited to 100,000 mintage, will be offered from mid-August to Nov. 30. It’s available from the Royal Canadian Mint at $245 or from coin dealers. The Royal Canadian Mint’s address is P.O. Box 457, Station A, Ottawa, Ontario, Canada K1N8V5.