Experts Agree That ‘Perfect’ Is Rare Condition

Question: I have an 1849 Liberty half dollar with 13 stars on one side, and an eagle on the other side with an 0. It is in perfect condition. I would appreciate it if you would publish how much it is worth.--M.L.H.

Answer: You are, indeed, very fortunate to have a coin in perfect condition. Most experts, in fact, would quarrel over whether or not this phenomenon is even possible. And even if some did agree that a particular coin was a Mint State-70, the highest level in a grading system that ranges from 1 to 70, there would still be others who would disagree. Grading, as art, is in the eye of the beholder.

The Liberty Seated half dollar you own is not particularly rare, although a perfect specimen of any coin would be. Your coin with the 0 is from the New Orleans Mint. It is one of more than 2 million minted. Even so, a specimen that would have survived through the years in perfect condition would fetch a tidy sum today. It would probably be worth $6,000 to $10,000, again depending upon how “perfect” it is.

Circulated versions of your coin would begin in the $25-$200 range, while uncirculated versions would start at about $500. The only way to price a coin accurately is to have it graded. Dealers will do this for you, but you will not find total agreement, which helps account for disparity in pricing. There are neutral grading services that charge a fee. I’d start with some dealers. If they believe it’s “perfect,” then by all means submit it to a service. Most uncirculated coins are worth less than the service fee.

Q: Please evaluate for me a 1925 $2 1/2 gold piece. It is preserved in a case stamped 1925-D; also marked $24.--E.B.

A: It’s been a long time since you could buy a quarter eagle for $24, which is what I suspect happened with your coin. More than 12 million were minted in 1925. Your coin is probably in the $150-$350 range, although it would have to be seen to be accurately evaluated.

Q: After World War II, I was given some money of Occupied Japan. Does it have any value? I also have a U.S. paper 50-cent bill and a U.S. dollar bill with Hawaii imprinted on it. Have these any value? I also have an unused $2 bill. Is it worth more than $2?--B.J.

A: Practically speaking, your bills have little or no collector value. With luck, you might have success with a private collector or an impulse buyer at a garage sale.

Q: I have several Indian head pennies that I showed my husband. Though we tried to read the dates with a magnifying glass, it was almost impossible through the accumulation of years on them. Subsequently, I tried cleaning them with copper cleaner and boy! did I catch it from him! He says they are now greatly lowered in value, if not altogether worthless. Is this true?--R.J.

A: Listen to your husband next time. Coins should not be cleaned. Ever. It’s true that this is done from time to time, usually by dealers who try to enhance lower-grade pieces. They are not always successful. If you must clean copper coins, do so with Vaseline or Vicks; and pat, don’t rub. But to be safe, leave your coins alone.

Q: I have a 1971-D cent with a man’s bust facing left from 3 o’clock on the obverse. Can you give me any information regarding this coin?--C.L.A.

A: I suspect your coin is counter-stamped with a likeness of John F. Kennedy. Many such pieces were privately manufactured as novelties. They do not have any collector value.

Q: I have a few questions about coins in my possession. Coin 1 shows no indication of its bartering value, i.e. 5 cents, 1 cent, etc. Thirteen stars border the perimeter of the nickel-size coin. Engraved on one side is the head of Miss Liberty facing left. She is wearing a small crown with the word Liberty on the crown. The reverse side of the coin is plain except for a large single letter T. The coin is in fair condition and bears a mint date of 1883. Coin 2 is an Indian head cent in good condition dated 1906. Coin 3 is a silver dollar dated 1921 in excellent condition.--R.W.J.

A: Your first coin appears to be a Liberty nickel love token. These are coins that were engraved with initials or designs and given as gifts. The value is indeterminate, but there are collectors of love tokens, and prices are often determined by the complexity of the design. Your Indian head cent is worth about 25 cents; your silver dollar about $10--all depending upon condition.

Q: I have the following proof sets: 1951, 1952, 1953, 1954, 1955, 1956, 1960 small date, 1964, 1957 and 1971. I also have rolls of mint Lincoln cents: 1959-D, 1960-D large date, 1960-D small date and 1956-D. I also have several 1909-S VDB cents plus 649 silver quarters, a 1911 $20 gold piece, an 1880 $10 gold piece, an 1883 $5 gold piece and a 1927 $2 1/2 gold piece. Would I do better selling the 1909-S VDB cents at an auction or to a dealer?--C.R.W.

A: The 1951 proof set is worth about $290; the 1952 is $185; 1953 is $110; 1954 is $65; 1955 is $60; 1956 is $35; 1960 small date $21; 1964 is $12; 1957 is $16, and 1971 is $3.75. Your Lincoln cent rolls, per roll: 1959-D is 80 cents; 1960-D large date is 70 cents; 1960-D small date is $1.20 and 1956-D is $1.50.

Your 1909-S VDB cents are worth about $200 each and up, depending upon condition. Will you do better selling them at auction or to a dealer? That’s anybody’s guess. You’ll have to negotiate with the auction house for commission rates and take a chance that there’ll be some spirited buyers.

Your silver quarters are worth 3 1/2 times face value. The $20 coin is $450 and up, depending upon condition; the $10 is $200 and up, the $5 and the $2 1/2 are both $125 and up.

Q: In 1971 I purchased an 1898 United States proof set--the penny to the dollar--under lucite. The price then was $1,400. The dollar has been graded MS-67 and the rest of the coins are MS-65 to 67. No one has been able to give me a value of the entire set as one has not come on the market recently. The coins have been described as museum quality. Can you help?--R.L.F.

A: Quality coins are difficult to price unless they are seen. Also, Mint State 67 coins are few and far between, and pricing could swing widely, depending upon eye appeal and other factors. But using MS-65 as a gauge, certified pieces in the 1898 proof set individually break down as: 1 cent, $500; 5 cent, 1,350; 10 cent, $3,500; 25 cent, $5; 50 cent, $6,100; and $1, $9,000.

The appreciation of your set is an indication that quality coins can be a good investment, especially if patience is exercised.

Coin News

Two collections laden with rarities and pedigrees will be auctioned in conjunction with the Golden State Coin Show in Pasadena Jan. 24-26. The catalogue (cover pictured) of the collections of R.H. Gore Jr. and Dennis Irving Long describes half cents from 1793, a gem proof 1877 cent, half dimes beginning with the 1792 dime, an uncirculated 1796 quarter, some proof gem Morgan dollars, nearly two sets of $3 gold pieces and $5 gold pieces beginning with the first year of issue, 1795. Catalogues are $20 from Auctions by Bowers and Merena, Box 1224, Wolfeboro, N.H. 03894; telephone (603) 569-5095.

Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column.