Design a Key to Pricing of Quarter Eagle

Question: I have a $2 1/2 1914 United States Indian-head gold piece. It has 13 stars and an eagle on the opposite side and is in mint condition. I would like to know the value.--B.E.F.

Answer: Indian-head quarter eagles were issued from 1908 to 1929. The gold coin is interesting because it has no raised surfaces; the design and lettering are receded. This design feature makes the coin difficult to grade. Collectors particularly look for sharpness in the headdress. The Indian-head design has proved popular, as it has with the buffalo nickel. As a result, many of these pieces have been used for jewelry.

There were 240,117 quarter eagles minted in 1914, a rather limited number compared to today’s million-plus mintages. Condition is all-important in determining the value of this piece. This is even more dramatic than usual when you consider the fact that a 1914 $2 1/2 in Mint State 60 (the lowest level for an uncirculated coin) is worth about $325, while an MS-65 is about $3,500.

This price variance is explained by the scarcity of higher-grade specimens. But the problem is compounded by the difficulty in grading the incuse design. Your description of the coin being “in mint condition” is imprecise. You’ll have to show it to an expert to determine its true worth.

Q: I would like to know the present price for a Queen Victoria specimen set. There are 12 coins in a velvet-lined case. All bear the 1987 date, which was the Jubilee head issue. Also, I have a copper South Wales farthing, George III head on the obverse and three feathers (Prince of Wales emblem) in a shield on the reverse.--D.G.M.

A: Your specimen set, if gold proof, is about $5,000; put together brilliant uncirculated is about $2,500. The farthing is a token and worth about $5 to $10.

Q: I have come into the possession of some old coins. Can you tell me if they have any value? They include Indian-head pennies dated 1859, 1860, 1862, 1863, 1864, 1866, 1881, 1883, 1886, 1891, 1893, 1895, 1899, 1901, 1903 and 1904. There is also a large cent, 1853, that has a bird on it. The 2-cent coins are dated 1865 and 1868. The Canadian cents are 1899, 1884 and 1941. Nickels (American) are 1897, 1904, 1907, 1902; one 25-cent piece dated 1903; dimes dated 1835, 1867, 1865 and 1871; a $2 1/2 gold coin and a 10-cent French coin dated 1854.--L.M.C.

A: The 1859 to 1866 cents are $2 to $5 each; the other cents are 25 cents each. The large cent with the bird on it has to be seen since it doesn’t fit the description of a large cent. Your 2-cent coins are $3 each; the Canadian cents and French coin have little or no collector value. The 1897 nickel is $1; the other nickels are 25 cents each; the quarter is $1, and the dimes are $3 to $5 each. The $2 1/2 quarter eagle is $175 and up, depending upon condition and date, which you neglected to mention.

Q: Could you determine the following? The worth of a British Churchill half crown dated 1965; and the worth of Iranian gold coins, pre-revolution, with a bust of the shah on one side and a lion with sword on the other. The denomination is 5 pahlavis, and they appear to be the size and weight of 1-ounce gold coins. Also, where might I sell them?--B.N.

A: Your Churchill half crown is worth about $1; the Iranian gold piece is about $500. Any coin dealer would be a potential buyer.

Q: I would like to know when and in what country or region the mintage year began to appear on coins.--J.S.H.

A: This is a deceptive question, because coins can be dated hundreds of years before Christ, even though dates as we now know them are not used. The first Roman coins bore no dates, but Justinian I (who ruled from AD 527 to 565) struck a copper piece with a reverse inscription Anno XII for the 12th year of his reign. Islamics began numbering coins in AD 622, based on the flight of Muhammad from Mecca to Medina. The first coin to bear a Christian date is from the Danish city of Roskilde. It’s dated 1234--MCCXXXIIII.

Coin News

Marking Israel’s Independence Day this week is a peace medal (pictured) being issued by the Magnes Museum featuring the head of the biblical Abraham with the faces of modern-day Isaac and Ishmael. The medal’s reverse is inscribed with the word peace in more than 50 languages. The 40th-anniversary medal was designed by Nat Sobel, a Holocaust survivor. The symbolic medal is limited to 500 bronze ($25 each), 350 silver ($125) and 50 10-karat gold ($1,450). Order from the Magnes Museum, 2911 Russell St., Berkeley, Calif. 94705.

The second edition of the “Standard Guide to the Lincoln Cents” by Sol Taylor will be released this summer. More than 1,000 price changes are included in the 1988 edition, which is limited to 2,500 copies. The guide is priced at $14.95, but orders received before June 30 will be filled at $12.95 plus 84 cents sales tax. Deliveries can be expected in July. To order, contact Taylor at P.O. Box 5465, North Hollywood, Calif. 91616.

Coin Letter

I subscribe to Rare Coin Market Digest. I have $30,000 in silver dollars. I base my collection’s worth on this publication. I found your April 7 article on prices on certain silver dollars interesting. My portfolio could be doubled at your quote. Please tell me your price source.--L.N.

There are many price guides. The weekly Coin Dealer Newsletter (commonly called the Gray Sheet) suggests dealer bid and ask prices. But it is important to remember that these are wholesale prices, dealer to dealer. Retail prices vary. For information, contact the Coin Dealer Newsletter, P.O. Box 11099, Torrance, Calif. 90510.

Coin Calendar

Saturday and Sunday--About 80 dealers are expected to participate in the Buena Park Pavilion Coin and Stamp Expo this weekend. The show, the first locally after a long drought, will run the gamut from rare coins to jewelry, baseball cards, stamps and related material. It is sponsored by the Numismatic, Philatelic & Monetary Conference, an affiliate of Dave Griffiths’ Century Coins in downtown Los Angeles. Hours are 10 a.m. to 7 p.m. Saturday, 10 a.m. to 5 p.m. Sunday at the Retail Clerks Union Auditorium, 8550 Stanton Ave., Buena Park; telephone (213) 622-6295.