Issue Sale Can Be an Education in Itself

Question: My father left me his coin collection, and I now need money to finish college. So I want to sell his coins. Enclosed is a list of what I have. How should I go about selling them?--C.S.

Answer: You’ve taken the right first step. It’s important to list all your coins by type, denomination and date. And that you’ve done, including rolls, proof sets and commemoratives. A cursory look, however, is not enough to determine whether your coins are valuable enough to get you through Harvard, a state college or just the school of hard knocks.

The reason is that the value will be determined by condition, because almost all the coins are modern issues. And there’s a big difference in price, for example, between an uncirculated and circulated set of Buffalo nickels. You mention a set of Lincoln cents from 1909 to 1960 missing only the 1909-SVDB, 1914-D and 1932. Two of those coins--the 1909-SVDB and the 1914-D--are key coins and often worth more than all the others combined. So, you can see the problem in evaluating what you have.

I don’t know whether your father collected on the high or low end of the numismatic scale. Choice coins, even so-called common dates, are more desirable than those used as pocket change. Silver and gold have intrinsic value in addition to collector value. Some varieties command a premium. And, above all, there’s condition. Collectors are always seeking to upgrade their holdings.

No coin dealer can accurately appraise your collection without looking at it, any more than an auto dealer can tell you what your car is worth over the phone. Show your coin list to several dealers to determine if there’s any interest. If so, have them appraise it. Because your collection is extensive, it might not be practical to take your coins to a show, but a show would be a good place to go from dealer to dealer to get the best price. However, separate contacts will also work, although it’s a bit more tedious.

I think you’ll find that disposing of your coins in order to finish college will in many ways also help contribute to your education in general.

Q: We have several British gold sovereigns. The years vary from 1902 to 1910. We would like to know what they are worth in extra-fine condition.--E. and B.S.

A: British gold sovereigns are essentially bullion pieces. To determine the value in extra-fine to uncirculated condition, multiply the spot price of gold by .2354. Sovereigns would cost you $2 to $3 over the price of gold; you could sell for the gold content.

Q: I wonder if you could help me find a place where I can find some information about this $50 bill. Twenty years ago I bought it in Dallas and was then offered $75. I’ve been to the library and could not find any information.--C.H.

A: Your bill is national currency from the Federal Reserve Bank of Chicago. There are collectors for such bills, but those from small towns are more desirable. If your bill is not crisp and uncirculated, it will have little or no premium value. The two basic references are the “Standard Catalogue of United States Paper Money” by Krause and Lemke and “Paper Money of the United States” by Robert Friedberg. Many coin stores carry the books in stock.

Q: I wish to inform you regarding a unique mint error I was not aware of until stolen from my bank vault box in 1973. It was a matte proof Roman finish $10 dated 1916 with an S, indicating San Francisco mintage. Any opinion will be appreciated.--G.R.

A: If such a gold coin existed, it would indeed be unique. To my knowledge, no such coin was ever minted or is known to exist. There are low-mintage $10 matte proofs that are quite valuable, but none dated 1916.

Q: I have come into possession of some old coins. Can you tell me if they have any value? They include: 1 cent, has bird on it, 1851-1858; 20 cent, 1875; large 1 cent, 1818, 1848, 1855 and 1846; 2 cent, 1871, 1868 and 1846; quarter dollar, 1861; 1873 Liberty with Roman numeral III; Columbian Exposition 50 cents, 1893; Monroe Doctrine 50 cents, 1923; 50-cent Liberty 1821; and small gold California gold, 1853-1857.--J.S.B.

A: The cent with the bird on it is undoubtedly a Flying Eagle, but the 1851 date is wrong. Look again at dates. This coin circulated is worth about $5; the large cents are $2 to $3 each; the 2-cent pieces are $3 each; the 1861 quarter is $5; the nickel 3-cent piece is $4; the Columbian commemorative is $6; the Monroe Doctrine commemorative is $10; and the California gold coins are $50 each and up.

Q: I have a German paper 20 mark dated 1914, marked P 5390854. It is not in mint condition, nor is it beat up. Could it have any value and to whom?--J.P.G.

A: Your bill has little or no value. Your best bet would be to find a dealer in foreign paper money who might want such material for his inventory. Even so, it’s of little value.

Coin News

Collectors of paper currency usually appreciate the detailed workmanship that goes into the design and printing. Therefore, a hand-printed intaglio print of the 1876 Centennial International Exposition Share Certificate (pictured) should be of special interest. The print depicts scenes of American culture and history and was issued on the centennial of the Declaration of Independence. The 20x24-inch hand-printed reproductions will be printed on a 19th-Century Spider Press from the plate crafted 112 years ago, and numbered by hand. Delivery may take up to six months with orders accepted until Dec. 1. Orders are $75 each from the Bureau of Engraving and Printing, Mail Order Sales, Room 602-11A, 14th and C streets S.W., Washington, D.C. 20228.

A complete set of Charlotte Mint gold coins, one of each date from 1838 to 1861, is included in the sale of the Everson and Faught Collections in New York on June 13-15. These coins carry a C mint mark and were minted only in gold in $1, 2 1/2 and $5 denominations. Catalogues are $15 from Auctions by Bowers & Merena, Box 1224, Wolfeboro, N.H. 03894.

There’s another new entree in the platinum bullion market--the Platinum Dragon--the first medallion of its kind by Johnson Matthey, a leading marketer and refiner of platinum metals. The obverse features the image of a dragon, the reverse has the Johnson Matthey hallmark. The medallion is made from 1 troy ounce .9995 pure platinum and dated, with only 5,000 for 1988. Distributors are Manfra Tordella Brooks, (800) 525-1117; Deak International, (800) 289-3325; Bullio Services, (800) 272-7667; Panda America, (800) 962-0333, and Fiscal and Monetary Services, (800) 258-7322.

Auction News

Two related auctions are being conducted this month in New York. The series opens Oct. 18 with the Gilbert Steinberg Collection of United States paper money and Indian peace medals. It will be followed by the auction of United States gold, silver and copper coins featuring property of a New England museum. The second auction will continue Oct. 19, 20 and 21 at the Omni Park Central Hotel. Both auctions are conducted by Stack’s, 123 W. 57th St., New York, N.Y. 10019; telephone (212) 582-2580.

Also in New York will be the auction of the David B. Silberman Jr. collection, which will be held adjacent to the Norweb Collection Sale. The Silberman collection is strong in 19th- and early 20th-Century proof coins plus rare silver patterns. Silberman catalogues are $10 ($49 for a year’s subscription) from Auctions by Bowers & Merena, Box 1224, Wolfeboro, N.H. 03894; telephone (800) 222-5993.

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.