Generic Lad
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09/27/2010
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Before posting a question about coins, here are some commonly asked questions I see very often on here.
Q: Is my Susan B. Anthony coin worth anything?
A: No, Susan B. Anthony dollars are only worth face value, they aren't rare coins unless they are proof. Even uncirculated Susan B. Anthony coins aren't worth much if anything over face value.
Q: Is my gold dollar dated 2000 or later worth anything?
A: No, unless your "gold" coin states that it is made out of gold on the coin (such as an American Gold Eagle or Canadian Maple Leaf) it is made out of brass and is worth no more than face value. Presidential dollar coins or Sacajawea coins have no premium over face value.
Q: Is my 1992 dime, 2003 penny, and 1987 nickel found in my pocket change worth anything?
A: No. Unless your quarter or dime was made before 1965 and dated 1964 or earlier, it is only worth face value unless it is proof, uncirculated or an error. For nickels the only Jefferson nickels in circulated condition that are worth a premium over face value are "war nickels" which contain 35% silver, these are easily identifiable by a large P, D, or S over the Monticello on the back of the coin. Truly uncirculated coins do bring a premium over face value, but if you find it in your pocket change, it is not uncirculated.
Q: Is my 1971 or later Kennedy Half Dollar worth anything?
A: Most likely not, half dollars, like the dime and quarter were made in silver prior to 1965, however, what is unique to half dollars is 1965-1970 half dollars were struck in 40% silver and bring a premium over face value. There are also half dollars that are not intended for circulation despite being non-proof strikes, these might bring a few cents over face value to a serious collector in great condition, but for the most part are worth 50 cents like everything else.
Q: I have an Eisenhower Silver Dollar what is it worth?
A: I doubt you do. The vast, vast, vast, majority of Eisenhower dollars are not silver! But are made out of copper and nickel like most coins today. There are some silver Eisenhower dollars but they were sold in special cases and all of them have an "S" mint-mark, so if you have an Eisenhower dollar without an "S" mint-mark it is worth $1. If you have one with an "S" mint-mark it is worth a premium over face most likely.
Q: What is my gold (plated) dime/quarter/nickel/etc. worth?
A: Face value. Gold plating adds very, very, very, little gold to the actual object and doesn't add much value to it. Also, note that gold/chrome/silver plating or "colourizing" a coin is seen by collectors as damage and can only harm your value of your coin.
Q: How do I clean this coin?
A: Don't. Cleaning is the number 1 thing that can destroy the value of a coin. Cleaning will never add value to your coin. A simple cleaning can be the difference between a $1,000 and a $50 coin.
Q: What is my Brett Farve/Obama/Dale Earnheart/Oprah/Steve Jobs/Bill Gates/Franklin Mint/etc. coin worth?
A: Most likely nothing. With coins not made by a real mint such as the US, Canadian, British or other government-backed mint, the only value in the coin comes from the precious metal (gold/silver/platinum) value in the coin. If the coin was made out of something cheap like nickel or copper, the coin isn't going to be worth much, but if the coin is, say, 1 troy ounce of pure gold, the coin is worth well over $1,000 because of the gold content. Franklin Mint and other private mints make terrible investments, either get generic bullion bars/rounds at a low premium over spot price, or invest in recognized coins like US Morgan Dollars, British Silver Crowns, Pre-1965 US silver coinage, etc.