Dealer Advice Needed to Evaluate Flaw
Question: I just received my 1986 proof set, and the dollar has a flaw that looks like either a drop of chemical fluid or a “burn” appearance. It is on the background and runs above the shoulder and crown of the Statue of Liberty up to the edge between the letters B and E. Is there any way I can return the coins, for exchange, or will this mark have any effect on its future value?--L.H.C.
Answer: Your coin seems to be discolored. I doubt that it’s natural toning, because you just received your proof set. Because these coins are sealed at the Mint, whatever caused this condition probably occurred during the production process.
Customers of the United States Mint usually receive a coin order acknowledgement. If you’ve kept yours, you’ll notice a sentence that says: “If necessary to correspond, please refer to the order number & year printed on the reverse of this card.” I believe if you complain to the Mint, you will be able to make an exchange.
However, before you do that, have your set checked by a knowledgeable coin dealer. It’s possible that you have an error of some sort. If so, your set might be worth more than a shiny new one. However, if the discoloration is due to damage, that would diminish the value of the set.
Proof coins, incidentally, are specially made and have a mirror-like finish. Modern United States proof sets have been made since 1936 (with an interruption from 1943 to 1949) and are highly collectible.
The early sets are quite expensive with Mint State 63 sets selling for about $5,100. Uncirculated sets are also available. The original issue price for uncirculated sets is less than for proof sets, and in general, uncirculated sets are not as valuable as proof sets. Some of the recent sets, both proof and uncirculated, are actually worth less than the issue price at the present time.
Q: I have some coins and would like to know if they have any value: silver dollars dated 1878, 1890, 1898, 1921, 1923, 1924; 1943 half dollar; 1945 quarter; five Buffalo-head nickels with no date (worn out); cents dated 1930, 1935, 1937 and 1939; dimes dated 1936, 1941, 1942, 1943, 1944 and 1945; a $20 Federal Reserve Note without “In God We Trust” on the back; a $1 silver certificate; 1906 Indian Head cent; and 1910 and 1912 Liberty head nickels.--F.T.
A: Your hodgepodge does have some value. The silver dollars are worth $8 each and up, depending upon condition; the half dollar is worth $2; the quarter is worth $1; the dimes are 40 cents each; your bills probably have no premium value; your Lincoln cents probably have no premium value; the Indian head cent is worth 50 cents and the Liberty nickels are 25 cents each. Interestingly, the worn Buffalo nickels are worth about 6 cents each. One dealer--Ron Holzhauer of Glendora Coins, 355 W. Foothill Blvd., Glendora, Calif. 91740; telephone (800) 963-5977--may pay a little more.
Q: I have been collecting commemorative coins of the United States, Canada and Mexico. I have always collected them just for fun. However, if the price of my coins go up, will I be able to sell them to local dealers? Also, I have noticed that the price of silver Mexican Libertads is going up and that they are sold in rolls of 20. If I were to buy a roll while silver is relatively undervalued, will I be able to sell it to local dealers when the silver price is very high?--R.K.
A: The answer is yes, insofar as the commemoratives and Libertads are concerned. Your coins are very liquid. It’s possible they may have numismatic value over and above silver value. In any event, you can’t get hurt too badly as long as you go about it as a collector rather than as an investor. Enjoy your coins and let the profit take care of itself.
Coin News
The Numismatic Assn. of Southern California convention here Feb. 5-7 will feature the sale of Auctions by Bowers & Merena of the Westchester Collection (catalogue cover pictured) and other properties. It takes place at the Hyatt Hotel near Los Angeles International Airport. Highlights of the sale include an extremely fine-40 1794 (first year of issue) dollar, proof $2 1/2 gold pieces, the Eliasberg proof-65 1863 $5 gold piece plus the very rare 1921 and seldom-seen 1929 $20 gold pieces. A separate section of the catalogue is devoted to American currency. The 216-page catalogue, to be distributed in mid-January, is $10 from Auctions by Bowers & Merena, Box 1224-NR, Wolfeboro, N.H. 03894.
A sellout of the 1986 Helvetias has been reported, although a few specimens may still be available from the 16 official distributors. Final mintages of the Swiss gold pieces are: 6,585 1 unzie (1 troy ounce), 6,535 half unzie (one-half troy ounce), 9,855 quarter unzie (one-fourth troy ounce) and 14,875 10th unzie (1/10 troy ounce). There were also 2,500 authorized silver 5 unzen (5 troy ounces). A brochure about the Swiss Helvetia bullion pieces, along with a list of distributors is available from Helvetiz Trading Corp. of America, 1013 State St., Santa Barbara, Calif. 93101.
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.