Future Value of Medals May Be a Bit Iffy

Question: I am interested in silver, which I purchased on March 1, 1971. This was somewhat before the Hunt Brothers began their activity in silver. I still have these and would appreciate your answer as to their present value. These were purchased via the Franklin Mint, and 50 ingots were thereby acquired, one for each state. The 50 1,000 sterling silver ingots are in a beautiful walnut box.--G.L.

Answer: Many, many medals and commemorative pieces are minted each year. Some are in bronze, silver and gold. Other compositions are also used.

In many instances, these medals are only worth their intrinsic value. Many of these medals are well designed; some are even art pieces. Often, they are purchased by impulse buyers, because they are attractive or perhaps because the design invokes a particular memory or experience.

Whatever, the buyer should know that such pieces are not necessarily good investment vehicles. They can be pretty, artful, even sentimental. But that doesn’t mean they will go up in value. They can be fun to own. However, the track record as an investment is not great. Some do, of course, go up in value. But if that is your concern, numismatic United States coins are a much better investment.

Your medals were manufactured by a private mint. It’s entirely possible that somewhere down the line they may appreciate in value. It’s also possible that they won’t.

Many ancient coins still have little collector interest, while others are quite expensive. If you can find an interested collector, your collection might be worth a little more than their bullion value. Otherwise, they are worth about 90% of the spot price of silver.

Q: I have an 1851 gold $1, an 1845 gold $2 1/2 and an 1857 gold $3. They appear to be in excellent condition. What would be their value?--A.S.

A: Your gold dollar is a high-mintage piece worth $150 and up; the 1845 $2 1/2 gold piece is worth $175 and up, depending upon condition and mint mark, and the 1857 $3 is one of only 20,891, worth $400 and up.

Q: Could you please tell me the value of the following: 1964 Kennedy half dollars; silver dollars dated 1878, 1881, 1883, 1884, 1890, 1921 and 1922, and half dollars dated 1966, 1967, 1968 and 1971?--F.F.

A: The 1964 Kennedy half dollars are worth $2 each; the silver dollars are $8 each and up; the 40% silver half dollars dated 1966, 1967 and 1968 are 75 cents each; the 1971 half dollar is worth 50 cents.

Q: I have a bill that reads “8894, Seventeen months after date the Bank of the United States promises to pay to G. W. Fairman on order One Thousand Dollars in New York, Philadelphia Dec. 15, 1840.” What is it? I found it in a book I bought 15 or 20 years ago.--M.T.

A: Your bill is a Treasury note. It’s probably worth only a few dollars.

Q: The Coin Wholesaler says between May 9 and May 15, 1985, more than 3 million $1 Federal Reserve currency notes were misprinted and placed into circulation. The back plate number 129 was erroneously placed on the left side of the currency instead of the right side. I’ve found two of these bills.One is in pretty good condition. The other is worn, but must carry minimum value. What’s your opinion?--E.I.

A: As the Coin Wholesaler article states, it’s too early to set values. How many of these bills have survived will probably never be accurately determined. Much of the fun in collecting is the hunt, so consider that aspect as you pursue your hobby. As for determining the value of your bills, contact a currency dealer who specializes in errors.

Q: Would be most interested in what you think the value is for a $2 1/2 gold coin, United States 1909. It’s in good condition.--G.M.B.

A: Your Indian-head quarter eagle is worth $715 and up. Uncirculated specimens (no wear) are worth considerably more.

Coin News

Canadian Blacksmith Coppers (tokens) from the Warren Baker collection will be included in the Bowers & Merena auction scheduled for March 26-28 at the Vista Hotel in New York. The collection is considered the finest private collection of its kind. More than 100 lots are included. The catalogues, according to Bowers & Merena, will become a standard reference. To obtain a copy, send $10 for March Sale Catalogue to Auctions by Bowers & Merena, Box 1224-NR, Wolfeboro, N.H. 03894.

Coin Calendar

Friday, Saturday and Sunday--About 150 dealers will participate in San Diego’s 8th national show at the Holiday Inn at the Embarcadero, 1255 N. Harbor Drive, San Diego. Hours are Friday, 10 a.m.-7 p.m.; Saturday, 10 a.m.-6 p.m., and Sunday, 10 a.m.-3 p.m. Free coin seminars will be held at noon Saturday. For information, call (619) 273-3566.

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.