The Coin Doc's Answers

Return to the Coin Doc's Answer Archive Menu

From: "McGyver...." macgiver267@yahoo.com
Subject: 1862 one dollar bill
-------------------------------------------------------
this dollar is scanned at 400 dpi........... it's actual size is just smaller than a current bill, we've takin it to a bank and they confirmed at least it's printed on real money paper.

United States Notes (Legal Tender Notes) were one of the first issues of paper money in the United States.  This type of money was essentially "fiat" in that it wasn't directly convertible to gold or silver. It was one method that the United States used to raise funds to finance the Civil War.  The first issue of 1862 was in the denominations of $5 to $1000 and the second issue added $1 and $2 notes. Note that genuine examples of these note are "large" size, far larger in size than the current notes we use today.  All United States Currency was large size except for fractional currency. Large size currency was issued until 1927.  Genuine notes of this type have a red or brown seal and are multi-colored. Based on your image and your statement that the note is smaller than a current note, your note is not genuine but a replica.  Copies have no monetary value and in fact are illegal. All United States currency is still legal tender though genuine copies of this note are worth far more to a collector.

All 1903 Philippines 50 centavos were minted in Philadelphia including a proof of that year. There are no official records of any 1903 50 centavos struck at the San Francisco Mint. Because of this, the 1903-S is suspect.  This is a good reason why it doesn't appear in some catalogs.

There is a history of coins with added mint marks originating in the Philippines, especially on U.S. coins.  For example, there are some 1894 Barber dimes with an added "S' that were traced back to the Philippines (sometimes in the 1970's). The Philippines has also been notorious for being the source of 1893-S Morgan Dollar fakes and fake 1804 dollars were rampant there during the time of the U.S. military presence.

The 1903-1906 coins had too high a silver content for their Philippine face value and many were melted as bullion. Of the mintage of six million 1903 half dollars, only a half million pieces escaped the melting pot and most of those were saved by collectors or possibly by others for the purpose of manufacturing an artificial rarity.

You have an 1810 Spanish Colonial 8 reales struck at the Mexico City Mint (°M). H.J. are the assayers' initials of Henrique Buenaventura Azorin and Joaquin Davila Madrid.  The obverse shows the bust of King Ferdinand VII of Spain, the date 1810 is below.  The legend around is, FERDIN. VII. DEI GRATIA (Ferdinand VII By the Grace of G-d).  The legend continues on the reverse and includes the mint mark and assayer initials (HISPAN.ET IND.REX (King of Spain and the Indies).

Collectors value coins on their rarity and condition (grade). There are also minting varieties that add additional value.  Approximate range in average circulated grades: US $10 - $150.  Uncirculated examples bring far more.

You have a 1812 Kingdom of Napoleon (Italy) 5 Lira.  Napoleon had conquered many of the Northern Italian city states at the approximate time that the First French Empire was proclaimed in 1804.  Napoleon was crowned Emperor of Italy in Naples in 1805.

The coinage system was arranged as: 100 centesimi=20 Soldi, 20 soldi= 1 Lira. Coinage of the centesimo, 3 centesimi, soldo, 10 centesimi, 5 soldi, 10 soldi, 15 soldi, Lira, 2 Lira and 5 Lira were struck. Coins were minted at three mints, B= Bologna, M=Milan V=Venice.

The 1812 5 lira shows the head of Napoleon facing right, the date is below. The legend, NAPOLEON IMPERATORE E RE ( Napoleon Emperor and King), is around.   The reverse shows a crowned eagle and shield, 5. Lire below. The legend, REGNO D'ITALIA (Kingdom of Italy), is around.  The coin weighs 25 grams and was struck on a .900 fine silver planchet (.7234 troy ounces of pure silver).

Value depends on grade (condition), variety and mint mark.  Approximate range in average circulated grades: $25 -$200.   Uncirculated pieces are worth a great deal more and some varieties add to the potential value.

Note that dangerous counterfeits exist though they are most often seen in high grade.  You can have your coin authenticated by ANA, PCGS or NGC.  For more information see the CoinSite Links page .

Check your yellow pages for numismatists or coin dealers in your area.  You can also contact the American Numismatic Association for a list of dealer members in your area (see the CoinSite Links page).

Hire a professional numismatist to evaluate your collection in writing. Fees range from about $100 to as much as 5% of the appraised value. A good appraisal can save a great deal of money  Appraisals include attribution, authentication and grading and should list approximate wholesale values (for selling) or retail (for insurance), that is, what you might realize if you sold the coins to a dealer or what it might cost to replace in the current market. You wouldn't sell the coins to the appraiser, this is unethical.

Appraisals are different than sight "offers" that are done gratis at a coin shop. Obviously, the dealer has an interest in purchasing your items at the lowest price. Also, a dealer might be overstocked in a particular item that you are offering for sale and therefore might pay less than market if he has to buy it.   Appraisals allow you to gain an experts expertise so that you know for sure what you are selling and that you receive a fair price for your material.

Very valuable pieces might be sold at auction, common material can be sold at a local coin show or to a local dealer.  If you can't find a local dealer, get a copy of Coin World at a newsstand and check out the buy lists and prices in the back of the newspaper.  You can successfully sell dealers by mail if you can't do it locally.

Two: I also have what I think might be a large date 1969 Canadian dime. I understand they're scarce as hen's teeth, but I can't seem to find a market value on it either. Both coins are in circulated condition and are fairly clean. Thanks!! -Betty

Full rotated reverse modern quarters at one time were thought to be impossible because of the method by which the dies fit into the coin press. Apparently this was disproved with the discovery of the rotated State quarter reverses. For a 1967 quarter to have a full rotated reverse, Washington and the eagle side will be right side up when you flip the quarter from side to side (medallic orientation).  If the eagle is upside down then you have a normal quarter reverse.

Have your coin authenticated at the American Numismatic Association, PCGS or NGC. A genuine full rotated reverse U.S. 1967 quarter may have significant value. See the CoinSite Links page for these sources.

Large date 1969 Canada dimes are currently unknown in mint state.  AU (About uncirculated) examples would probabaly bring about US $15,000+ at auction. An uncirculated specimen would bring far more.  I suggest sending this coin for authentication to the above sources.

The Philippines became under U.S. sovereignty after the settlement of the Spanish-American War in 1898.  The first American minted bronze centavos were struck at the Philadelphia and San Francisco Mints in 1903. Production moved to Manila in 1920.

The coins rather plentiful even in MS63 and below but quite rare in grades above that.  The 1905 one centavo has a mintage of 10 million and the 1913-S a mintage of 5 million.  Both coins bring about $25 in red, choice brilliant uncirculated condition.  Gem pieces can bring $200 or more.

Finally, I have two or three MS70 graded coins, but they were graded by ICG (Independednt Coin Graders). Ive noticed that both PCGS and NCG very rarely assign MS70 to any of the coins they grade. Is ICG an "easier" grading company? And if they are, are their grading services as respected by other collectors as PCGS or NCG? Thanks.

There is certainly nothing wrong with collecting gold bullion coins.  I think that many collectors begin collecting with gold trade units since they often have attractive designs, are usually available and are easy to find in nice grades. I think a circulated American Eagle is probably a great deal rarer than one in gem condition.

I would caution about getting caught up in buying third party graded bullion coins by grade. There is really just a one way market for these items and in a rising bullion market these coins again become just gold.  Remember that Trade units such as British sovereigns, French, Belgium and Swiss 20 Francs, Mexico 50 Pesos, German 20 Marks etc are still often found in uncirculated condition, often in rolls, yet some are 150 years old.

I don't believe that any coin should be graded MS70.  This was suppose to be a theoretical grade representing a Kantian state of perfection.  Since no one or no thing is ever perfect, this grade should remain an ideal that is never reached, something akin to the speed of light.  Allowing coins to be graded MS70 opens up the possibility of one day waking up to, Voila, MS71, something even more "perfect".

You have a 1618 Spain 8 Maravedis (34 Maravedis= 1 Real), Burgos mint, struck under King Philip III.  Value depends on grade (condition). Approximate value: US $5 - $35.

 1834 Proof Bust half dollars are restrikes, that is, struck later than the date on the coin.  The variety called "Squashed edge letters" is just that.  The edge lettering is deformed probably due to a damaged collar.

This a token not a coin.  I am not familiar with this particular piece but similar "ships and commerce" tokens were commonly used in Canada, specifically, Prince Edward Island, in the early part of the nineteenth century.  They are were often the equivalent of pennies or half pennies.  Value: ?? $15 -  $35.

No, this isn't real money, just a fancy bullion bar produced by a private company. It's value would be its bullion value plus whatever additional you could talk someone into paying. Precious metals are measured in troy ounces and troy pounds.  There are 12 troy ounces in a troy pound.  Your bar, according to your description, weighs 1/2 pound (6 troy ounces). To discover the approximate current silver value, see the CoinSite Metals Page , see the price per ounce for silver and multiply by 6.

No. The Blake replicas are modern twentieth century copies. San Francisco assay houses like Blake & Agrell, Kellogg & Co. and Was Molitor & Co. and many others assayed other peoples gold for a fee, cast them into bars and stamped them with their mark guaranteeing the purity and weight.  Some of the earliest established assayers also minted their own coins as emergency money before the San Francisco Mint got up to speed. By 1855 the U.S. government began to frown on private issue coinage. That's why the Blake pieces were never a circulating coin, it was too late.  Only one Blake and Co $20 gold coin is known to exist.  It is in the Eli Lilly collection that is currently housed at the Smithsonian in Washington D.C. The assayers of this period played an important and historic role in the development of the California gold fields.  Note that most of these firms were known for their scrupulous honesty.  The private issue coins that are available always bring spirited competition when offered for sale at auction. 

You have a 1943 Finland, 50 Pennia (100 pennia=Markka) struck in iron. The "S" is the assayer's initial (the person in charge of minting coins), in this case, Isak Gustaf Sundell (1912-1947).

I think you mean 1988.  This copper-nickel coin was part of the high inflation period in Mexico.  In 1992, the government removed three zeros which means that the Francisco Madero 500 pesos translates to a current 1/2 peso (50 centavos).  These coins are still legal tender and will spend as a current 50 centavos (about U.S. 5 cents).  Collectors pay about $2 for uncirculated specimens.  Circulated pieces are worth face value.

Two presentation pieces exist in proof.  These are in high relief, have highly mirrored fields and frosted devices but only two are known.  Value:??

Lo tiene un 1813 8 reales de Provincias Del Rio De La Plata con la ceca de casa de moneda Potosi (existe a la derecha a la fecha como una monograma).  El asayador es "J".  Cincuenta mil piezas estaba acuñada solamente. En algunos ejemplos, este monedas estaba acuñada sobre un ocho reales de España.  Si puede verla, el valor es más.  Un pieza regular en la condición extra fino tiene el valor aproximado de US $200. Su otro pieza es un 1886-S Morgan dollar de Estados Unidos.  Es una fecha mejor y en la condición sin circular tipico, el valor  aproximado es de US $100. You have a 1813 8 reales from Silver River Province (Rio De La Plata) in Argentina, Potosi mint mark (a monogram to the right of the date), assayer "J". There were only 50,000 pieces minted. Some examples were minted over a Spanish 8 reales. If you can see the undercoin it has a higher value. A normal example in EF grade is worth approxiamtely US $200. Your other piece is a 1886-S Morgan dollar from the United States. It's a better date in typical uncirculated condition it brings about US $100.

This is a question of heraldry, nothing more. In Europe, post middle ages, when a new monarch was installed, his head or bust faced the opposite direction of the preceding monarch. I guess it made it more obvious that a new monarch was ruling, especially when there were family resemblances. Alternating the facing direction on coins was a sure way of getting  people to notice the change.

Though the United States isn't a "royalist" country.  We did bring some European traditions to U.S. coinage.  From the very beginnings of U.S. coin in 1793, the alternating tradition loosely prevailed, even though the portraits on coins were of an allegorical Liberty instead of an actual person.

The right facing Lincoln cent was the successor to the Indian cent (another allegory of Liberty) that faced left.  Lincoln, by the way, has the honor of being the first real person to appear on a regular issue U.S. coin.  The contemporary coins of the Lincoln cent more or less followed the alternating change of direction but the Lincoln cent design is still in use (It will be 100 years old in 2009).

Here are some modern examples of the alternating heads.

Liberty nickel (1883-1912) - faces left
Indian nickel (1913-1938) - faces right
Jefferson nickel (1938 - ) - faces left

Barber dime (1892 1916) - faces right
Winged Liberty dime (1916-1945) - faces left
Roosevelt dime (1946 - ) - faces right (same as Lincoln)

Barber quarter (1892 - 1916)-faces right
Standing Liberty Quarter (1916 -1930) - no left or right facing Liberty head
Washington Quarter (1932- )- faces left

There is no law that demands this, just tradition.  Note that the tradition was broken with the Morgan Dollar (facing left) and the successor, the Peace Dollar (also facing left) and that successor the Eisenhower dollar (left) and then restored on the SBA dollar (right).

You have a very neat, English circus advertising token, pass or ticket (Tom Thumb was a famous Circus performer with the P.T. Barnum Circus and billed as the world's smallest man).  These are very popular among token collectors.  Approximate value: $100+. (See http://www.harpweek.com/HomeImages/ThomThumbMarriage.htm for more information about General Tom Thumb).

'Certainly not given by Napoleon. He was toast in 1815 and certainly not to William Harris Crawford.  It would have been useful to get the full description of this medal but based on the Latin legends, it was issued under King Louis XVIII of France in 1823 and is an award to HENRICO MACNO a CIVIVM-PIETAS.RESTITVITT (or duitiful (loyal?) restored citizen).

Doubled die errors are the fault of an improperly manufactured die.  Every coin that is struck from that die is identical.  There would be thousands or even tens of thousands of a doubled die error.  A good example is the 1955 doubled die.  At one time, rolls of this error coin were available.

Shelf-doubling (called so because of the characteristic shelf effect caused on this error) are unique and are caused by a loose collar that holds the blank in place when it is struck. The "chatter" causes a doubled impression but one is in lower relief than the other (the characteristic "shelf").

Severe shelf-doubling errors will bring some kind of premium if they look neat but only true and extreme doubled dies bring a significant price.

Chief Engraver James B. Longacre was the originator of the Indian cent design. Note that there are no patterns that exist that show "AMERICA" as the country name.  It is always "United States of America".  There is a good description of the origins of the Indian cent on CoinSite. See 1859-1864 Cent.

See the section about Longacre:

"An oft-repeated story has it that Longacre modeled the "Indian" after his young daughter, Sarah. Evidence suggests that this is pure fantasy: Researchers have found drawings of virtually the same female head in Longacre sketchbooks from 10 years earlier, always with the same adult proportions and the same long "Greek" nose. And the artist himself referred to this profile in letters and official memoranda as being that of the Venus Accroupie, or "Crouching Venus" a Greco-Roman statue displayed at that time in a Philadelphia museum."

I think that Venus Accroupie might now be located at the National Museum in Washington.

Most, but not all, Canadian coin collectors belong to the Canadian Numismatic Association.  You can contact them by email and find out how many members they currently have.  You can ask your question there.  See: http://www.nunetcan.net/cna.htm

It is smaller than a dime in size approx.15mm, but similar in thickness. First impression is that it is copper, as it has the appearance of many of the wheats that I have unearthed, yet it has a few small nicks that show much more luster than any of the coppers I have found. It is also noticably heavier than any penny I have compared it with.   The Reverse has the raised letters "PAT JULY 23, 1872 *" as well as a raised circle in the center.  The Obverse has a ribbed five pointed star which covers the face of the coin. "ST" and "AR" are to the left and right respectively of the top point. "H. B& H" wrap the two bottom points of the star.

Both the Reverse and Obverse have a raised rim with the Reverse being smooth and the Obverse beaded. The star leads me to believe it is a Texas coin but I have been unable find any information.  The 2001 red book has no information on it and so far I have been unable to find any relevant leads on web searches for H. B& H.  Do you have any ideas on what this object is?

From the Civil War period to well into the twentieth century, trade and merchant tokens were commonly used as small change, mostly as cents. In the Civil War period the privately issued tokens served a real need, since coins of all types were hoarded for their metal content.  After the Civil War, the habit was already well established and merchants realized that giving out a token instead of a cent, was a sure way to get customers to return to their establishment.

Dozens of engravers and token-makers sent salesmen on the road to sell tokens to merchants.  I'll speculate that the token you have is a sample design, part of a sample kit of designs, offered to perspective merchants. The use of  "Pat (Patent) date" also indicates a sample other than a finished merchant token.  Also, gun manufacturers commonly stamped Pat "(Date)" into standard U.S. coins, probably to test the punches that were used to mark firearms, knives, axes and other tools. Your "PAT" is raised not incuse in your token indicating that the Patent date was part of the original die. Approximate collector value: $10 -$35.