The magazine for coin collectors and investors September 2018

09 COINAGE • U.S. $4.99

Vol 54 No. 09 • Sept. 2018
Issue code: 2018-09
Display until 09/18/2018
Printed in the U.S.A.
0 71658 02039 9 coinagemag.com
 COINage September 2018 I Volume 54 I Number 9

PAGE 8 PAGE 16 PAGE 20

THE SECRET HISTORY THE RARITY AND BEAUTY HOW TO GRADE
OF COIN GRADING OF U.S. GOLD COINS MORGAN DOLLARS
Evaluating the Coin Hobby Exclusive Preview of New PCGS Explains the Standards
One Grade at a Time Gold Proof Book by Which it Grades
by David Thomason Alexander by John W. Dannreuther by Michael W. Sherman

PAGE 26 PAGE 30 PAGE 54

PRESERVING THE THE BEAUTIFUL LEGACY COINAGE
GRADES OF YOUR COINS OF SWISS COINS CONFIDENTIAL:
How Coins are Ruined and One Nation’s Coinage Viewed ‘Mr. Coin Industry’
How Coins are Saved as a Passport to Freedom Presides Over Billions in Coins
by David J. Camire and Richard S. Montgomery by Edward Kiersch

DEPARTMENTS On rare occasions, inadvertent typographic errors occur in coin prices listed in advertisements.
For that reason, advertisements appearing in COINage should be considered as requests to
inquire rather than as unconditional offers of sale. All prices are subject to change without notice.
It’s News to Me 4 PRINTED IN U.S.A.
Market Report 6
Price Guide 32
COINage Confidential 54
COINage (ISSN 0010-0455) is published monthly by Beckett Media LLC, 4635 McEwen Rd., Dallas, TX
Show Dates 58 75244. Periodicals postage paid at Dallas, TX 75260 and at other mailing offices. Printed in U.S.A. Copyright
2018 by Beckett Media, LLC. POSTMASTER: send address changes to COINage c/o Beckett Media, 4635
COINage Kids 60 McEwen Rd., Dallas, TX 75244 or subscriptions@beckett.com.
© 2018 by Beckett Media, LLC.
Take Note 62 All rights reserved. Reproduction of any material from this issue in whole or in part is strictly prohibited.

Cover Photos: 20/Coin Grading Secrets (Professional Coin Grading Service); 54/Confidential Interview (John Albanese); 26/How Coins are Ruined (Numismatic Conservation Services)
 NORWOOD COIN
501 Columbia Turnpike • Rensselaer, NY 12144
CHOICE PROOF SETS
Government Issue Superior Quality
1954......................95.50
1955 FP...............125.50
1956......................61.50
1957......................29.50
1958......................32.50
1959......................29.50
1960......................28.50
1960 SD ................32.50
1961......................24.00
1962......................23.50
1963......................23.50
1964......................24.00
1968-S ....................7.50
1969-S ....................7.50
1970-S ..................11.50
1971-S ....................5.50
1972-S ....................5.50
1973-S ....................9.00
1974-S ..................11.00
1975-S ..................10.50
1976-S ....................9.50
1976-S 3pc ...........25.50
1977-S ....................8.50
1978-S ....................7.50
1979-S ....................8.50
1979-S T2 .............55.50
1980-S ....................6.50
1981-S ....................6.50
1982-S ....................6.00
1983-S ....................6.00
1984-S ....................6.00
1985-S ....................5.50
1986-S ....................7.50
CHOICE MINT SETS
Government Issue
1962........................42.50
1963........................35.50
1964........................32.50
1965 SMS ...............11.50
1966 SMS ...............11.50
1967 SMS ...............11.50
1968..........................8.50
1969..........................8.50
1970........................19.50
1971..........................5.50
1972..........................4.50
1973........................13.50
1974..........................7.50
1975..........................9.50
1976..........................9.50
1976 3pc .................18.50
1977..........................8.50
1978..........................8.50
1979..........................6.50
1980..........................7.00
1981........................11.50
1984..........................5.50
1985..........................5.50
1986..........................9.00
1987..........................5.50
1988..........................5.50
1989..........................4.50
1990..........................5.00
SILVER PROOF SETS
1992-S ....................20.50
1993-S ....................27.50
1994-S ....................25.50
1995-S ....................50.50
1996-S ....................28.50
1997-S ....................33.50
1998-S ....................24.50
1999-S ....................85.50
2000-S ....................33.50
2001-S ....................45.50
2002-S ....................37.50
2003-S ....................37.50
2004-S ....................37.50
2005-S ....................37.50
PRESTIGE SETS
1983-S ................. 42.00
1984-S ................. 27.00
1986-S ................. 24.00
1987-S ................. 24.00
1988-S ................. 30.00
1989-S ................. 33.00
1990-S ................. 28.00
2
1987-S ....................5.50
1988-S ....................6.50
1989-S ....................5.50
1990-S ....................7.00
1991-S ...................5.50
1992-S ....................6.00
1993-S ....................6.50
1994-S ....................6.50
1995-S ..................11.50
1996-S ....................9.00
1997-S ....................9.50
1998-S ..................11.50
1999-S ....................9.50
2000-S ....................7.50
2001-S ..................11.50
2002-S ....................9.50
2003-S ....................8.50
2004-S ..................11.50
2005-S ....................7.50
2006-S ..................10.50
2007-S ..................16.50
2008-S ..................35.00
2009-S ..................24.50
2010-S ..................35.50
2011-S ..................35.50
2012-S ................119.00
2013-S ..................35.50
2014-s ..................39.50
2015-S ..................37.50
2016-S ..................50.00
2017-S ..................32.00
2018-S ..................31.50
1991..........................6.00
1992..........................5.50
1993..........................6.50
1994..........................5.50
1995..........................5.50
1996........................19.50
1997..........................5.50
1998..........................5.50
1999..........................9.50
2000..........................9.50
2001..........................9.50
2002..........................9.50
2003........................11.50
2004........................10.50
2005..........................9.50
2006........................10.50
2007........................20.50
2008........................39.50
2009........................25.50
2010........................24.50
2011........................24.50
2012........................69.50
2013........................30.50
2014........................30.50
2015........................30.00
2016........................34.00
2017........................25.95
2018........................25.95
2006-S ....................37.50
2007-S ....................42.50
2008-S ....................42.50
2009-S ....................49.50
2010-S ....................49.50
2011-S ....................65.50
2012-S ..................215.50
2013-s ....................65.50
2014-s ....................59.50
2015-S ....................59.50
2016 -S ...................75.00
2017 -S ...................58.00
2018 -S ...................26.00
1991-S ................. 37.00
1992-S ................. 42.00
1993-S ................. 38.00
1994-S ................. 36.00
1995-S ................. 77.00
1996-S ............... 299.00
1997-S ................. 59.00
FAST DEPENDABLE SERVICE
QUALITY COINS
AT COMPETITIVE PRICES
SEND FOR OUR FREE CATALOGUE
Special Prices On 1st Year
TYPE COINS AND STARTER SETS
1909 LINC 1¢ CH BU R/B....................................................................19.95 5 DIFF MERCURY 10¢* CH BU ............................................................39.00
1909-VDB LINC 1¢ CH BU R/B ...........................................................19.95
5 DIFF PRE 1965 SILVER* ROOSEVELT 10¢ GEM PF...........................19.00
1883 NC LIBERTY 5¢ CH BU ...............................................................25.95
4 DIFF PRE 1965 SILVER* WASHINGTON 25¢ PRF..............................29.00
1913 T1 BUFFALO 5¢ CH BU ..............................................................29.00
1913 T2 BUFFALO 5¢ CH BU ..............................................................34.95 10 DIFF CLAD PRF*WASH 25¢ PRE 1999 .............................................9.95
1938 JEFFERSON 5¢ CH BU .................................................................9.95 5 Diff WALK LIB 50¢* CH AU ...............................................................99.00
1916 MERCURY 10¢ CH BU FSB ........................................................49.00 10 DIFF FRANKLIN 50¢* CH BU ........................................................189.00
1917 T1 STAND LIB 25¢ CH BU FH ..................................................249.00
3 DIFF FRANKLIN 50¢* GEM PROOF ...................................................45.00
1932 WASHINGTON 25¢ CH BU..........................................................29.00
1964 KENNEDY 50¢ GEM PROOF .......................................................19.00 10 DIFF KENNEDY 50¢* GEM CLAD PROOF........................................29.95
1971-S TO 1974-S SIL IKE $ALL 4 CH BU..........................................45.00 *DATES OF OUR CHOICE
MORGAN & PEACE SILVER DOLLARS
Very Select Brilliant Uncirculated
Hand Selected for Full Luster
Premium Quality! MS61+
Morgan Dollars Morgan Dollars Morgan Dollars Morgan Dollars Peace Dollars
1878 7F .............. 89.00
1878 8F ............ 170.00
1882-S ................ 57.00
1883.................... 49.00
1889.................... 40.00
1889-S .............. 255.00
1901-O ............... 49.00
1901-S .............. 519.00
1924.................... 32.00
1924 S .............. 239.00
1878 7/8 ........... 170.00 1883-O ............... 40.00 1890.................... 44.00 1902.................... 85.00
1878-S ................ 69.00 1883-CC ........... 205.00 1890-O ............... 85.00 1902-O ............... 49.00 1925.................... 34.00
1878-CC ........... 385.00 1884.................... 49.00 1890-S ................ 70.00 1903.................... 62.00 1925 S ................ 95.00
1879.................... 59.00 1884-O ............... 40.00 1891.................... 70.00 1903-O ............. 390.00 1926.................... 55.00
1879-O ............... 99.00 1884-CC ........... 195.00 1891-S ................ 85.00 1904.................. 125.00
1879-S ................ 55.00 1885.................... 40.00 1896.................... 44.00 1904-O ............... 52.00 1926 D ................ 85.00
1880.................... 47.00 1885-O ............... 40.00 1897.................... 44.00 1921.................... 42.00 1926 S ................ 55.00
1880-O ............... 99.00 1885-S .............. 255.00 1897-S ................ 82.00 1921-D................ 45.00
1927.................... 79.00
1880-S ................ 52.00 1885-CC ........... 695.00 1898.................... 44.00 1921-S ................ 45.00 1927 D .............. 175.00
1880-CC ........... 490.00 1886.................... 43.00 1898-O ............... 50.00 Peace Dollars
1881.................... 55.00 1886-S .............. 325.00 1898-S .............. 249.00 1922.................... 32.00 1928.................. 399.00
1881-O ............... 55.00 1887.................... 43.00 1899.................. 245.00 1922 D ................ 47.00 1928 S .............. 189.00
1881-S ................ 52.00 1887-O ............... 75.00 1899-O ............... 49.00 1922 S ................ 48.00 1934.................. 115.00
1881-CC ........... 495.00 1887-S .............. 129.00 1900.................... 45.00 1923.................... 32.00
1934 D .............. 125.00
1882.................... 47.00 1888.................... 49.00 1900-O ............... 44.00 1923 D ................ 75.00
1882-CC ........... 205.00 1888-O ............... 72.00 1900-S .............. 295.00 1923 S ................ 46.00 1935.................... 80.00
1882-O ............... 49.00 1888-S .............. 325.00 1935 S .............. 270.00
COMMON DATE ROLLS COMPLETE SETS
Full G & Better (BU Sets in Deluxe Album)
Indian Cents (50 pcs.) .................................................... 75.00 G/VG or Better CH BU
Liberty Nickels (40 pcs.) ................................................ 49.00 Lincoln Cents (1941-1958) R / B .....................................................................7.95 ....................................69.00
Buffalo Nickels (40 pcs.) Full Date ................................. 28.00
Jefferson Nickels (1938-1961) ......................................................................49.00 ....(38-64) 340
Barber Dimes (50 pcs.) ................................................ 139.00
Mercury Dimes (50 pcs.) ............................................... 89.00 Roosevelt Dimes (1946-1964) .......................................................................79.00 ..................................249.00
Walking Lib. Halves (20 pcs.)* ..................................... 169.00
Kennedy Halves (1964) (20 pcs.) BU ........................... 169.00
Washington Quarters (1941-1964) ..............................................................469.00 ..................................695.00
Walking Liberty Halves (1941-1947)............................................................179.00 ..................................749.00
Morgan Dollars VF/XF ( NO 21) .................................... 599.00 Franklin Halves (1948-1963) .......................................................................275.00 ..................................760.00
Mixed Dates of Our Choice
Peace Dollars (1921-35) F & Better .............................................................950.00 .........................................—
SEND OR CALL US 518-477-2193
FOR FREE MONTHLY Eisenr. Dollars (Incl. Prfs.) 32 Coins.....................................................................— ..................................199.00
PRICE LIST S.B.A. Dollars (Incl. Prfs.) 18 Coins......................................................................— ..................................265.00
SEND OR CALL US AT 518-477-2193 FOR FREE MONTHNLY PRICE LIST
SILVER EAGLES
CH BU GEM PROOF CH BU GEM PROOF CH BU GEM PROOF
1986........................... 40.00 ......................45.00
1987........................... 24.00 ......................45.00
1997........................... 30.00 ......................55.00
1998........................... 28.00 ......................49.00
2008........................... 24.00 ......................45.00
2009........................... 23.00 ..........................n/a
1988........................... 28.00 ......................45.00 1999........................... 28.00 ......................49.00 2010........................... 23.00 ......................45.00
1989........................... 28.00 ......................45.00 2000........................... 28.00 ......................49.00 2011........................... 23.00 ......................45.00
1990........................... 28.00 ......................45.00 2001........................... 24.00 ......................45.00 2012........................... 23.00 ......................45.00
1991........................... 28.00 ......................45.00 2002........................... 24.00 ......................45.00 2013........................... 23.00 ......................45.00
1992........................... 28.00 ......................45.00 2003........................... 24.00 ......................45.00 2014........................... 23.00 ......................45.00
1993........................... 28.00 ......................70.00 2004........................... 24.00 ......................45.00 2015........................... 23.00 ......................45.00
1994........................... 38.00 ....................149.00 2005........................... 24.00 ......................45.00 2016........................... 24.00 ......................59.00
1995........................... 34.00 ......................55.00 2006........................... 24.00 ......................45.00 2017........................... 23.00 ......................59.00
1996........................... 67.00 ......................55.00 2007........................... 24.00 ......................45.00 2018........................... 23.00 ......................59.00
 Strictly Graded
STRICTLY GRADED
Better Date FRAnKLin HALVes* WALKinG LiBeRty*
CIRCULATED
CH CH/Brilliant
type coins MoRGAn & peAce AU Uncirculated
1948................................... 15.00 ...................19.00
IN CHOICE GRADES DoLLARs 1948-D ............................... 17.00 ...................21.00
(DATES OF OUR CHOICE) Date VF XF AU 1949................................... 17.00 ...................32.00
CH VF CH XF 1879-cc 295.00 719.00 $ — 1949-D ............................... 35.00 ...................69.00
1/2¢ DRApeD (1800-08) 220.00 390.00 1883-s 35.00 49.00 109.00 1949-s ............................... 39.00 ...................89.00
1/2¢ cLAssic (1809-36) 85.00 99.00 1884-s 45.00 75.00 199.00 1950................................... 17.00 ...................32.00
1/2¢ BRAiD (1849-57) 85.00 99.00 1885-s 49.00 60.00 119.00 1950-D ............................... 19.00 ...................29.00
1¢ cLAssic (1808-14) 895.00 $- 1886-s 85.00 115.00 149.00 1951................................... 17.00 ...................19.00
ior
super
1¢ coRonet (1816-39) 63.00 125.00 1888-s 140.00 160.00 190.00 1951-D ............................... 22.00 ...................35.00
1951-s .................................... — ...................29.00 CH CH/Brilliant
1890-cc 105.00 139.00 219.00 y!
Qualit
1¢ BRAiDeD (1839-57) 35.00 50.00
1891-cc 105.00 139.00 209.00 1952................................... 17.00 ...................19.00 AU Uncirculated
1¢ FLyinG eAGLe 45.00 125.00
1891-o 30.00 36.00 45.00 1952-D ............................... 17.00 ...................19.00
1¢ 1859 inDiAn 42.00 95.00 1941................................... 21.00 .....................29.00
1892 42.00 52.00 82.00 1952-s .................................... — ...................85.00
1¢ inD. c.n. (1860-64) 25.00 45.00 1941-D ............................... 21.00 .....................35.00
1892-cc 230.00 419.00 619.00 1953................................... 19.00 ...................25.00
1¢ inD BR (1864-09) 4.50 9.00 1941-s ............................... 29.00 .....................79.00
1892-o 35.00 49.00 65.00 1953-D ............................... 17.00 ...................19.00
2¢ piece (1864-73) 25.00 40.00
1892-s 120.00 310.00 1,500.00 1953-s .................................... — ...................39.00 1942................................... 19.00 .....................29.00
3¢ nicKeL (1865-81) 22.00 35.00
1893 290.00 270.00 390.00 1954................................... 19.00 ...................19.00 1942-D ............................... 23.00 .....................42.00
3¢ siLVeR (1851-73) 59.00 65.00
1893-cc 625.00 1,495.00 — 1954-D ............................... 19.00 ...................19.00 1942-s ............................... 23.00 .....................45.00
1/2D BUst (1829-37) 99.00 150.00 1954-s ............................... 22.00 ...................28.00
1/2D stD stRs (1838-60) 27.00 57.00 1893-o 349.00 525.00 800.00 1943................................... 21.00 .....................29.00
1894-o 50.00 95.00 269.00 1955................................... 18.00 ...................24.00
1/2D stD ARRs (1853-55) 27.00 57.00 1956................................... 17.00 ...................21.00 1943-D ............................... 25.00 .....................49.00
1/2D stD LeG (1860-73) 28.00 44.00 1894-s 109.00 189.00 479.00
1895-o 275.00 450.00 1957................................... 17.00 ...................21.00 1943-s ............................... 24.00 .....................49.00
5¢ sHieLD RAys (1866-67) 85.00 139.00 1957-D ............................... 17.00 ...................22.00 1944................................... 21.00 .....................37.00
1895-s 595.00 950.00 —
5¢ sHieLD nR (1867-83) 36.00 59.00 1958................................... 15.00 ...................19.00
1896-o 40.00 49.00 149.00 1944-D ............................... 24.00 .....................49.00
5¢ LiBeRty nc (1883) 10.00 12.00 1958-D ............................... 15.00 ...................19.00
1896-s 49.00 220.00 795.00 1944-s ............................... 35.00 .....................49.00
5¢ LiBeRty Wc (1883-12) 12.00 29.00 1959................................... 15.00 ...................19.00
1897-o 40.00 49.00 95.00 1945................................... 23.00 .....................29.00
5¢ BUFFALo (1913 t1) 19.00 21.00 1959-D ............................... 15.00 ...................19.00
1901 55.00 99.00 290.00
10¢ sM sZ BUst (1829-37) 79.00 249.00 1960................................... 15.00 ...................19.00 1945-D ............................... 24.00 .....................35.00
1903-s 180.00 340.00 1,525.00
10¢ stD stARs (1838-60) 25.00 47.00 1960-D ............................... 15.00 ...................19.00 1945-s ............................... 35.00 .....................49.00
1904-s 59.00 190.00 525.00
10¢ stD ARRs (1853-55) 32.00 49.00 1961................................... 15.00 ...................18.00 1946................................... 24.00 .....................34.00
1921 peace 99.00 119.00 149.00
10¢ stD LeG (1860-91) 22.00 30.00 1961-D ............................... 14.00 ...................18.00
1928 239.00 269.00 299.00 1946-D ............................... 42.00 .....................55.00
10¢ BARBeR (1892-1916) 8.00 24.00 1962................................... 14.00 ...................18.00
1934-s 75.00 139.00 319.00 1946-s ............................... 42.00 .....................55.00
20¢ piece (1875-78) 175.00 215.00 1962-D............................... 14.00 ...................18.00
25¢ sM sZ BUst (1830-37) 149.00 370.00 1963................................... 13.00 ...................15.00 1947................................... 24.00 .....................49.00
25¢ stD n.M. (1838-66) 40.00 69.00 mORGAN DOllAR 1963-D ............................... 13.00 ...................15.00 1947-D ............................... 32.00 .....................59.00
25¢ stD ARRs/RAys (1853) 42.00 159.00
Choice Brilliant Uncirculated *Group of 6 Different
25¢ stD ARRs (1854-55) 42.00 75.00
Starter Groups 1921 PDS (all 3)
25¢ stD W.M. (1867-91)
25¢ BARBeR (1892-12)
38.00
27.00
65.00
55.00
Silver Kennedy Halves MoRGAn
25¢ s.L. t1 (1917) 79.00 115.00 5 Diff Pre CH Brilliant
25¢ s.L. t2 (1925-30) 14.00 30.00
1900 Ch BU*
Uncirculated DoLLARs
50¢ cAp BUst (1807-36) 89.00 149.00 65, 66, 67, Ch BU
50¢ BUst R.e. (1836-39) 120.00 190.00
50¢ stD n.M. (1839-66) 79.00 119.00
$ “P” Mints 68-D, 69-D and
the key date 70-D $129.00
$229.00 Per Group
50¢ stD A/R (1853)
50¢ stD ARRs (1854-55)
95.00
80.00
249.00
135.00 $39.00 Per Group
5 Diff. Pre
50¢ stD W.M. (1866-91)
50¢ BARBeR (1892-1915)
80.00
119.00
110.00
185.00 21 Ch BU* GEORGE STATuE OF
$1 stD n.M. (1840-66)
$1 stD W.M. (1867-73)
425.00
425.00
520.00
500.00
$ “O” Mints WASHINGTON lIbERTy
$1 tRADe (1873-85) 185.00 275.00 $229 .00 SIlVER COmmEmS
5 Diff. Pre COmmEm pROOFS
coMMeMoRAtiVe HALF Original Boxes
21 Ch BU* HAlF DOllARS
DoLLARs $ “S” Mints $249.00 1982-S Mint Seated Proof . . . . . 9.95 1986-S Proof 50¢ . . . . . . . . . . . . 4.50
1986-S 2 pc. Proof Set . . . . . . 26.00
Choice B.U. 3 Diff. “CC” Ch BU* 1982-D Mint Seated BU. . . . . . . 9.95
$ Dollars $599.00 Group of 4 Different Roll of 20 Mixed Date
20 Diff. Dates Ch BU* buST peAce
$ Pre 21
HAlVES DoLLARs
$895.00 / Roll Very Sel. BU
Very Fine and Better
Albany ............................................................. 215.00
*Dates of our choice
$319.00 $629.00
Arkansas ........................................................... 95.00 Dates of our choice Roll

NORWOOD COIN
Boone .............................................................. 139.00
S
TRY U
Bay Bridge ....................................................... 139.00
calif. Jubilee .................................................... 189.00
!
TODAY
columbian expo (1893)...................................... 29.00
connecticut ..................................................... 220.00
Delaware ......................................................... 209.00 501 COLUMBIA TNPK • RENSSELAER, NY 12144
Grant ............................................................... 130.00
Huegenot ......................................................... 129.00
Lexington........................................................... 85.00 Phone Please add $7.95
for postage and insurance
Fax
Maine .............................................................. 135.00
oregon type .................................................... 155.00 518-477-2193 per order. 518-477-2194
pilgrim type (1920)............................................ 90.00
Rhode island...................................................... 99.00 Coins must be shipped to credit card holders billing address.
san Diego type (1935-s) ................................... 99.00 ■ Personal Checks & M.O. Gladly Accepted.■ Add $7.95 Postage & Insurance on total order. MON.-FRI.
sesquicentennial ............................................... 90.00 ■ VISA, MC, Discover and AmEx accepted.■ Full 10-day return privilege. P & H not refundable. 10am to 5:30pm est
■ NY residents Add 8% Sales Tax. ■ Coins subject to prior sale.
stone Mountain ................................................. 65.00 SAT.
■ Coins removed from original holder are considered sold. ■ All coins guaranteed genuine.
texas type ....................................................... 139.00 10am to 3pm est
york ................................................................. 159.00 *Prices subject to change due to market conditions.

3
 IT’S NEWS TO ME by Donn Pearlman

EDITORIAL
MAGGIE JUDKINS
Editorial Director

SCOTT A. TRAVERS
Executive Editor

Editorial Correspondence:
MAGGIE JUDKINS
(218) 390-6841

Party Like It’s 1857

editor@coinagemag.com

CONTRIBUTING WRITERS
DONN PEARLMAN
MIKE FULJENZ

M
DAVID L. GANZ Small coins with huge historical significance
R.W. JULIAN
y numismatic clock has been turned
JOSHUA MCMORROW-HERNANDEZ
back 161 years as I repeatedly think
TOM DELOREY
about life – and pocket change –
JOHN IDDINGS
during the California Gold Rush in 1857.
ART DEPARTMENT The reason for this reverie is recently seeing
LINDSEY JONES - Art Director in person amazing California fractional gold
coins recovered during the last mission to
ERIC KNAGG - Design
the fabled “Ship of Gold,” the SS Central
CHRIS DUNCAN - Design America, that sank in 1857 on a voyage from
Panama to New York City. Many of these pri-
PRICE ANALYST vately minted coins are now the finest known,
with 54 of them designated as proof-like.
SAM ZIMMER
Small gold coins in denominations of 25
ADVERTISING cents, 50 cents, and $1 were struck in the
San Francisco area in the 1850s to meet the
TED BARKER
Senior Sales Executive demand for circulating money. There were
tbarker@beckett.com 112 California fractionals among more than
(972) 448-9147 3,000 gold coins recovered in 2014 from the
LUKE BOSTON SS Central America in the Atlantic Ocean off
Advertising Sales Executive
the coast of the Carolinas. They recently were
lboston@beckett.com
(972) 448-9023 examined in detail, cataloged, and certified by
ALEX SORIANO Professional Coin Grading Service.
Advertising Sales Executive “This is the finest known group of its kind
alex@beckett.com in history,” declared Dwight Manley, manag-
(619) 392-5299
ing partner of the California Gold Marketing
Group that acquired all of the available SS
PRESIDENT
Central America sunken treasure. “It’s a true
SANDEEP DUA
time capsule!”
FOUNDER
When you look at these historic gold pieces,
JAMES L. MILLER
you are mentally back in the Ol’ West.
SUBSCRIPTION QUESTIONS? David Hall, PCGS co-founder, recalled. “At
(855) 777-2325 one point as I looked at all of the fractional
subscriptions@beckett.com gold coins together it was almost a startling
out of body experience for me. I imaged
myself in a restaurant or a bar in 1857 as I
wondered what a steak and beer would cost
back then? Would I have to give them a
50-cent gold piece or a $1 gold piece? It was
like being there in 1857!”
The mental time machine also went into
gear for Bob Evans, the chief scientist on the
1980s missions that first located and recov-
ered a portion of the fabulous SS Central
America treasure and then assisted with the
last recovery from the ship.
“When we first saw these coins lying in the
shipwreck’s debris field, I realized how it illus-
trated the importance of California fractional
gold in the day-to-day commerce of 1857 Cali-
fornia. For instance, 11 of these delightful little
coins were mingled within one remarkable
jumble of 264 pieces of gold currency: 236
U.S. gold coins of every denomination and 17
foreign gold coins,” Evans explained.
In all, 82 world gold coins representing 10
different countries were retrieved from about
7,000 feet under the ocean’s surface during
the last expedition. Why were there dozens of
world coins on the ship? Esteemed numismatic
researcher Q. David Bowers explained: “In San
Francisco in 1857 all sorts of foreign gold coins
were legal tender. Back then, these coins were
not of any particular notice or importance, but
today they are numismatic treasures!”
So, that’s why I want to party like it’s 1857.
Former award-winning Chicago journalist and
broadcaster, Donn Pearlman, has been a consultant
to the California Gold Marketing Group since 2000.

4 COINAGEMAG.COM IMAGES COURTESY OF PROFESSIONAL COIN GRADING SERVICE

 MARKET REPORT
Commerzbank Predicts $1,500
Gold and $20 Silver in 2019
G
ermany’s Commerzbank regards
gold’s current price weakness as
“temporary,” adding that “gold
should turn positive once the dollar
strength starts to fade.” Commerzbank
envisions a gold price of $1,350 per troy
ounce at the end of 2018 and “$1,500 by
the end of 2019.” They also expect to see
silver at $18 by the end of 2018 and “$20
per troy ounce by the end of 2019.”
Over two years ago, in April of 2016,
President Obama’s Treasury Secretary
Jack Lew announced that Harriet Tub-
man would replace Andrew Jackson on
the face of the new $20 bill by the year
2020, the centennial of women gaining
the vote. But then Donald Trump was
elected President in November of that
year. At first, President Trump’s new
Treasury Secretary Steven Mnuchin
answered questions about the new $20
bill design by saying, “It’s not something
we’re focused on at the moment.”
Earlier this year, Senator Jeanne
Shaheen (D-Del) inquired about the long
delay, and Drew Mahoney, the Treasury’s
Assistant Secretary for Legislative Affairs,
wrote back, saying, “The redesign of the
next currency series is still in the early
stages, and neither the final designs nor
all features have been finalized for the
new notes. For this reason, the depart-
ment is unable to provide additional
information regarding the potential
designs at this time.” Mahoney added
that “at least 10 more years will go by
before a new $20 note is issued,” meaning
it will be delayed until 2028.
Now here’s the story behind that delay.
I was talking with a Republican U.S.
Congressman from a Texas district who
was with President Trump in the Oval
Office. The Congressman and President
Trump shared their mutual admiration
6 COINAGEMAG.COM
for Andrew Jackson, while gazing at a
portrait of Jackson. He asked the Presi-
dent what he thought of Harriet Tubman
replacing Andrew Jackson on the $20
bill, and Trump expressed amazement.
He excused himself to make a call, came
back and said, “that is not going to
happen.” So, it appears this delay is for as
long as Trump is President.
Lin-Manuel Miranda, writer and star
of “Hamilton,” staged an impromptu ver-
sion of the musical for President Obama
and met with then-Treasury Secretary
Jacob Lew to lobby to keep Alexander
Hamilton’s face on the $10 bill. It worked,
so there seems to be precedent for
President Trump and Secretary Treasury
Steve Mnuchin to favor the continuation
of Andrew Jackson on the $20 bill.
For the record, I believe we need more
inclusion in our paper money and coin-
age, but I thought this “inside politics”
story was interesting.
Counterfeit coins have always been a
danger. I have taught classes in spotting
counterfeit coins to collectors, dealers,
and law enforcement. Since 1986 when
the United States Mint first introduced
silver and gold American Eagle bullion
coins, they have been both the top-selling
bullion coins and the most-counterfeited
coins, according to a new survey by the
Anti-Counterfeiting Task Force (ACTF).
I am a member of the ACTF. Nearly
half (43.3%) of U.S. coin dealers in their
survey reported customers seeking to
sell them counterfeit silver American
Eagle bullion coins, while 41.2% reported
customers trying to sell them fake gold
American Eagle bullion coins. Fake
Kruggerands were also reported by
30.4% of coin dealers and fake Canadian
gold Maple Leaf by 24.2% of dealers.
Beth Deisher, the Industry Council for
by Mike Fuljenz
Tangible Assets Director of Anti-Coun-
terfeiting, said that these counterfeiters
primarily come from China and “target
the most popular products, usually market
leaders with the highest brand identifica-
tion.” There is also a problem with fake
bullion bars and ingots. Over half (57.8%)
of dealers reported customers trying to sell
them fake PAMP (Suisse) gold ingots and
bars often packaged in counterfeit holders.
Among collectible classic U.S. coins, Mor-
gan silver dollars were the most frequently
counterfeited coins (by 71.7% of dealers),
followed by Trade dollars (66.6%) and
Seated Liberty dollars (48.6%). The most
frequently counterfeited collectible U.S.
gold coins were the $2.50 gold (42.1%) and
$5 gold (36.22%).
The customers are usually not the
criminals, according to Deisher. “Dealers
tell us they often encounter people who
have unknowingly purchased fake coins
or bars via the internet or from flea mar-
kets thinking they have gotten a bargain.
When they attempt to sell their ‘bargains’
to dealers they learn there is no Santa
Claus in numismatics.”
When you buy or sell coins, it pays to
deal with true experts who know how to
spot counterfeits and who know how to
validate the quality and grading of the
coins they buy and sell. Go to their web-
site and check out the credentials of the
dealer. For instance, I am a Professional
Numismatist Guild Authorized Precious
Metals Dealer.
Mike Fuljenz, president of Universal Coin &
Bullion in Beaumont, Texas, is a leading coin
expert and market analyst whose insightful
writing and consumer advocacy have earned
major honors from the ANA, PNG, NLG, and
the Press Club of Southeast Texas. His web-
site is www.universalcoin.com.
 THE
SECRET HISTORY
EVALUATING THE
COIN HOBBY
ONE GRADE
AT A TIME

Official A.N.A. Grading Standards for U.S.

Coins, First Edition (1977)

8 COINAGEMAG.COM CREDIT: PROFESSIONAL COIN GRADING SERVICE

OF COIN GRADING
C
oin grading has been the
great central area of dispute
in the modern world of
numismatics, though it was
not in the earliest years of coin collect-
ing in the United States. It is gener-
ally accepted that collecting was really
launched by the announcement that the
United States Mint was preparing to
discontinue the copper large cents and
the half cents struck since 1793.
These historic coins were the first
struck for public circulation in the infant
United States and were struck through
1857. Collectors were few, and more
by David Thomason Alexander
attention was paid to finding out just what
coins existed than what their grades might
be. There were no catalogs or books, a
mere handful of individuals dealing in
coins and no organizations to serve them.
Pioneer collectors such as Philadelphia’s
Joseph J. Mickley and dealer-collectors
such as Montroville Wilson Dickeson and
Edward Cogan of Philadelphia and Brook-
lyn, N.Y., were actually feeling their way
as they went. To some degree, collecting
American coins was a patriotic exercise,
though all educated people had some
familiarity with coins of ancient Greece
and Rome and early English coinage.
COINAGE SEPTEMBER 9
 THE SECRET HISTORY OF COIN GRADING
Most strove to form “complete” date runs of each
denomination without knowing what dates of large cents
actually existed. Thus, decades were spent searching for
cents dated 1815, though none had ever been struck.
Cents of 1804 were known to be scarce, and an early col-
lector, probably Mickley, added to the supply by creating
“Restrikes,” using Mint dies of 1803 suitably modified.
The earliest collectors, dealers, and auctioneers were
a cantankerous lot, often devoting more space in their
catalogs to lambasting their numismatic rivals than to
the coins being offered. Here both accuracy of descrip-
tion and grading came into play.
Grade was supposed to be the verbal description of
the amount of wear of a coin’s surface. Every collector
A Saint-Gaudens double eagle ($20) gold coin graded MS-60.
wanted the best condition available, and Uncircu-
lated (or sometimes Mint State) described pieces that
had never seen circulation. Comparatively, a limited
number of lesser grades were used. In descending order:
Extremely Fine, Very Fine, Fine, Good.
When known rarities were described, some liberties
might be taken. Great rarities were graded liberally,
sometimes with modifiers, “Very Fine for so rare a
coin!” Obviously, rarity logically justified over-grading!
Then too, the vast spreads between the lowest grades
provided vast scope for furious argument.
By the 1880s, several small coin clubs had come into
existence in major cities such as Boston, New York, and
Philadelphia but hinterland collectors remained isolated.
Institution of Rural Free Delivery opened up the mails
to inexpensive dealer price lists and other numismatic
mailings. One such dealer and delver was Dr. George
Francis Heath of Monroe, Michigan.
Heath began adding editorial material to his price
lists, including a feature in March 1891 with the chal-
lenging title, “What’s the matter of having an American
Numismatic Association?” Heath proposed an organiza-
10 COINAGEMAG.COM
tion to serve collectors in both the U.S. and Canada, and
within a year his proposed group was up and running,
publishing a journal called The Numismatist.
By February 1892 ,the first numerical grading pro-
posal was published in the infant journal, the concept of
English-born Canadian ANA member Joseph Hooper,
who suggested “I. Mint Brilliant Proof” and meandering
all the way down to ”XII. Very Poor.” Though the article
concluded with the statement, “While specimens in the
lower order of condition are better than none at all, still
the aim of the collector should never be below VI or Fine
…” How modern these concepts seem!
From the 1890s down to the coming of World War
II and the 1950s, American collectors continued to
Saint-Gaudens double eagle graded MS-61.
struggle with grading, though other subjects attracted
far greater attention, such as controversies over mod-
ern U.S. commemoratives. Once called the “Hobby of
Kings,” numismatics reached out to the masses dur-
ing the Great Depression and the explosion of “penny
boards” that held a complete date run of Lincoln cents
and other denominations.
Periodical literature received a massive shot in the
arm when Lee Hewitt of Chicago introduced his month-
ly magazine Numismatic Scrapbook during 1935. The
Numismatist now had lively competition, with a more
independent editorial policy than the organization-tied
Numismatist could boast. Hewitt launched intense con-
troversy by adding “About Uncirculated” to the grading
roster between Extremely Fine and Uncirculated.
Coin albums were popularized by the great dealer and
popularizer Wayte Raymond, whose Standard Catalogue
of United States Coins made accurate data on most
American coins conveniently available before World
War II. After 1947, thanks to the established Whitman
Little Golden Books distribution network, the Guide
Book of United States Coins, dubbed the “Red Book,”
CREDIT: PROFESSIONAL COIN GRADING SERVICE
swept the field under editor R.S. Yeoman. All these
helped prepare the way for vastly increased attention to
grading.
Coin collecting began a great expansion after the war,
particularly through proliferation of coin clubs across
the U.S. Checking out their reports in The Numisma-
tist gives an idea of what was important to collectors
in 1949-1954. The author attended meetings in those
years, discovering that the still-young Miami Coin
Club had derived its constitution from that of the New
York Numismatic Club through Otto Sghia, once of the
Bronx.
This constitution outlawed all commercialism at
meetings but allowed tedious club auctions that ulti-
Saint-Gaudens double eagle graded MS-62.
mately poisoned the group. Member exhibits were at first
rich and varied, primarily of American coins, but only
one member displayed Morgan silver dollars: ex-New
Yorker Herb Brand.
Other members regarded Herb as an amiable eccen-
tric for his interest in “those things” of which he had
thousands. Grading Morgan dollars was of minimal
interest in 1953 because the dollars themselves were of
only the slightest interest to most U.S. collectors in the
Miami organization. The Club Reports in The Numis-
matist offer a remarkable overview of what was being
collected at the grass roots level across America.
Grading disputes multiplied with the appearance of
weekly tabloid publications and their expansion of coin
sales by mail. Chester L. Krause’s Numismatic News was
born in 1952 in Iola, Wisconsin. The formidable Coin
World was launched by Amos Press of Sidney, Ohio, in
1960. Monthly magazines were now eclipsed as primary
markets.
“Collectors’ Clearinghouse” at Coin World was a
major feature serving the collector, created by James
G. Johnson, assisted by Ed Fleischmann. Thomas K.
DeLorey, a young numismatist from Detroit, signed on
in 1973 and quickly established a solid reputation for
in-depth knowledge of all U.S. coins, especially Morgan
dollars, error coins, and American numismatic history.
Grading now moved to the fore and directly into the
ANA orbit, which approved two slim books, Martin
R. Brown & John W. Dunn, A Guide to the Grading of
United States Coins, 1958; and James F. Ruddy, Pho-
tograde, 1970. Brown & Dunn used line drawings and
was only useful for assessing amounts of wear. The book
was not that helpful for Uncirculated coins, which were
described by a mish-mash of adjectives. Photograde used
half-tone photos but was limited by similar restrictions.
Early American Coppers grading deserves mention.
Saint-Gaudens double eagle graded MS-63.
This was never a grading service, just a practice that
EAC members did among themselves. They took the
technical grade, i.e., how much wear, and then factored
in deductions for problems such as porosity, scratches,
weak strikes, etc., to arrive at a net grade that reflected
the real-world market value of the coin.
Thus, an EAC VF-20 could be a problem-free coin
with a certain amount of wear, or an EF coin that had
been dug out of the ground with light corrosion, or an
EF coin with a noticeable gouge, etc. You never knew
what you were getting if you bought a VF-20 coin.
Moving ahead, the American Numismatic Association
Certification Service (ANACS) would give the techni-
cal grade and then list the problem(s). The commercial
slab companies appearing after 1986 could not do this
because of the small size of the fi lament or label, so for a
long time they refused to slab problem coins, stating that
this made the coins already in their holders better.
In selling silver dollars from the Redfield Hoard,
Paramount used three grades in encapsulating (the first
“slabs” known to the hobby) the Redfield dollars they
sold. Low-end uncs. were sealed with a black cardboard
COINAGE SEPTEMBER 11
 THE SECRET HISTORY OF COIN GRADING
insert printed “Mint State 60.” Anything that later
graders would call MS-63 or above got put in a dark
red cardboard insert printed “Mint State 65.” A small
number of really nice coins were placed in dark green
cardboard inserts printed “Mint State 65 Plus” (plus
spelled out). Finally, an unknown number of lower-end
coins, apparently including some circulated examples,
were put in holders with no stated grade, inscribed
merely, “A Silver Dollar from the Redfield Collection.”
This was in keeping with EAC’s Mint State grades
of 60, 65, and 70. ANACS was still to be created, and
grader Tom DeLorey would add 63 and 67. The green
inserts are very rare now, as most of the nicer coins,
including ones in red holders, were cracked out long ago
Saint-Gaudens double eagle graded MS-64.
for grading by the Professional Coin Grading Service
(PCGS) or the Numismatic Guaranty Corporation
(NGC). The majority of coins still in red holders do not
meet modern MS-65 standards, although some do.
Noted cataloger Carl W. Carlson called cracking out
“shelling out.” Note that Paramount also sold uncircu-
lated dollars from other sources in similar holders with
red or black inserts that do not say “Redfield” on them
but do say MS-60 or MS-65.
Paramount sold these from 1976 on. I remember that
Coin World kept referring to the coins as “The Redfield
Hoard,” and we kept getting polite letters from Para-
mount asking us to call it “The Redfield Collection.”
Even though Paramount was a huge advertiser we never
gave in, to the best of my knowledge.
Early in the 1960s, calls were heard for the establish-
ment of an independent, non-profit entity that would
establish the authenticity of rare U.S. coins. Something
of the sort emerged in 1963 as the Institute of Numis-
matic Authenticators, presided over by two prominent
numismatists, Don Taxay and Walter Breen. Both men
were regarded as numismatic geniuses, and their knowl-
12 COINAGEMAG.COM
edge and experiences were indeed great.
So too were their eccentricities. Both were employed
for varying times by the great guru of the flourishing
world of telemarketing, the late Stanley Apfelbaum, Esq.
of First Coinvestors, Albertson, New York, who carried
on a fantastic amount of business.
Their institute was located in a roach-infested build-
ing in lower Manhattan. Breen had gone into a severe
episode of depression and allowed hundreds of unac-
knowledged rare coins to pile up awaiting authentication
that never came. Outcries to Coin World denounced
“your man Breen,” who was in fact an outside contribu-
tor of a column headed “Bristles and Barbs.”
A flying squad of Professional Numismatists Guild
Saint-Gaudens double eagle graded MS-65.
(PNG) dealers ransacked Breen’s quarters gathering up
scores of rare coins, mostly without listed owners, and
began returning them to such owners as could be deter-
mined. The “authentication certificates” were handwrit-
ten sheets signed with purple ink. Found occasionally
today, they are of value as curiosities
ANA now took the lead in the U.S., combating the
mushroom growth of counterfeits appearing on the
market. Counterfeits of world coins then emanating
from Italy and Lebanon were already being combated
in Europe by the International Association of Profes-
sional Numismatists (IAPN) through its International
Bureau for the Suppression of Counterfeit Coin (IBSCC),
headed by former British Royal Mint technician E.G.V.C.
Newman.
IBSCC began publishing high quality bulletins expos-
ing every kind of counterfeit ancient and world coin
appearing on the market but did comparatively little
with U.S. coins. Under President Virginia Culver, ANA
now occupied that role, organizing the ANA Authentica-
tion Bureau (ANAAB) and ANA Certification Service
(ANACS) in 1972, championed by veteran professional
CREDIT: PROFESSIONAL COIN GRADING SERVICE
numismatist Abe Kosoff.
Brown & Dunn and Photograde were eclipsed, and
both faded away when ANA published The Official
American Numismatic Association Grading Standards
for United States Coins in 1977. The ANA first used line
drawings and also published written guidelines for Mint
State coins with which ANACS had to interpret start-
ing in 1978. Grader Tom DeLorey would later add the
MS-63 and MS-67 grades but did not write guidelines
for those grades.
ANACS started authentication in 1972 in Washing-
ton, D.C., under the direction of Charles Hoskins and
Francis Fazzari. This location was near the National
Numismatic Collection at the Smithsonian and distant
Saint-Gaudens double eagle graded MS-66.
from the political disturbances associated with the ANA
board and officers. In 1976, the ANA board announced
that ANACS was moving to ANA headquarters in Colo-
rado Springs. Hoskins and Fazzari hived off to found
the International Numismatic Society Authentication
Bureau (INSAB) as a direct competitor.
Starting in 1979, ANACS graders applied numerical
grades from the ANA’s official grading guide. Each coin
processed was accompanied by a stiff card with its typed
grade with black and white coin photos of the obverse
and reverse attached. Multiple-digit serial numbers
referred back to the ANACS database, and an embossed
ANACS seal completed the roster of information.
It was announced that actual grading would begin
March 1, 1979, though some coins were received before
that date. Coincidentally, the Hunt Brothers of Texas
had launched their ambitious attempt to corner the
silver market that would see silver bullion climb to
nearly $50 per troy ounce; gold to nearly $1,000 per
ounce. Bullion profits were rolled over into rare coins,
notably by purchases in Bowers and Ruddy’s auctions of
the great Garrett collection.
With all this bubbling in the background, collec-
tor and dealer response to ANACS shocked ANA, and
soon 10,000 coins or more were rolling in each month.
Additional grading staff and additions to the ANA head-
quarters building were urgently needed, and additional
Mint State grades such as MS 63 and MS 67 were pressed
into use.
The coin market crash of 1981-1983 brought severe
and long-lasting price subsidence and, ANACS’ vast
profits evaporated. It would take years for the coin
market to climb back to the 1979 levels. ANACS coins
stuttered and stalled in the marketplace amid unproven
accusations of coin switching and rumors of counterfeit
certificates circulated. By 1983-1986, some stability had
Saint-Gaudens double eagle graded MS-67.
returned but nowhere near 1979 levels.
ANACS was buffeted by staff losses and poison-
ous internal ANA politics at the highest levels, which
steadily eroded the market stature of the grading
service. Veteran staff members left ANA, and the value
of ANACS coins diminished. Younger staffers left the
service to become independent dealers, drawing on their
experience with the greatly diminished ANACS.
The next great change was announced early in 1986
with advertising that announced: “THE SOLUTION
TO THE GRADING PROBLEM!” This series of ads
introduced the Professional Coin Grading Service,
whose multi-page ads carefully addressed many aspects
of coin grading, buying, and selling that still festered
throughout the hobby-industry.
Led by California dealer David Hall and seven other
major dealers, PCGS boldly tackled towering market
problems head-on. It set rigorous conditions for mem-
bership and required participating firms to abandon
the drum beat of opposition and vituperation that then
flooded the U.S. coin market. Instead, all participating
firms would pledge to abstain from such abuse of others
COINAGE SEPTEMBER 13
 THE SECRET HISTORY OF COIN GRADING
and their products. Strict PCGS grading would be used
by all participating firms with no exceptions permitted.
All participants would bind themselves to accept
PCGS grades assigned by all participating dealers, or
else they would become “history” to the service. It was
believed that eliminating internal feuding and agree-
ing to scrupulously honor common grading standards
would revitalize the field.
The most exciting evidence of this hoped-for una-
nimity was the introduction of sonically sealed rigid
capsules or “slabs” that would house all PCGS-graded
coins, along with fi laments or labels stating the assigned
grade, serial number, and other information that could
not be mutilated or falsified without destroying the slab.
Although some aspects of PCGS grading attracted
spirited controversy, including adoption of 11 numerical
Mint State grades, the general response of the hobby-
industry was exceptionally positive, and the market for
PCGS coins was brisk from the start.
At the beginning of third-party grading and encap-
sulation, some numismatists expressed skepticism that
11 grades of Uncirculated could actually be identified
and exhibited. The beautiful Saint-Gaudens double eagle
(gold $20) was widely sought and was thought a tough
coin to grade.
Included in this article are color photographs, cour-
tesy of PCGS, of the Saint-Gaudens double eagle coins
that make up the grading set at PCGS for that denomi-
nation and design. Careful scrutiny of these marvelous
grading photos dramatizes the care and dramatic results
needed to produce this “dream set,” which collectors
and investors admired so and still admire today, decades
after the launch of third-party grading.
It was not long until the first hiving off took place as
John Albanese, one of the “Seven Popes,” left PCGS to
establish the rival Numismatic Guaranty Corporation.
NGC became a strong market contender from its
ONCE CONSIDERED A STARTLING INNOVATION, SLABS
NOW TOWER OVER THE WORLD OF RETAIL TRADE AND
AUCTION OFFERINGS AND WILL CONTINUE TO DO SO, A
REVOLUTION THAT HAS BECOME A PERMANENT FEATURE
OF THE WORLD OF COINS.
14 COINAGEMAG.COM
headquarters in Parsippany, New Jersey, later moving to
southern Florida. Over the next several years, an assem-
blage of what the numismatic market dubbed “Third
World Grading Services” appeared and disappeared,
including Numismatic Certification Institute (NCI),
identified with the major firm of Heritage in Dallas.
In 1986, NCI published its own Grading Guide,
distinguished by high resolution photographs overlaid
with colors identifying areas affected by wear, however
light. NCI did not have a long lifespan and faded away
after a few years.
In 2018, only PCGS and NGC remain in full vigor,
and their products dominate the numismatic auction
scene, though ANACS remains for the service of variety
and other specialty collectors.
Once considered a startling innovation, slabs now
tower over the world of retail trade and auction offerings
and will continue to do so, a revolution that has become
a permanent feature of the world of coins.
A seemingly final addition to the history of certifi-
cation and slabbing must be what some dealers refer
to affectionately as the “Green Bean,” the small self-
adhesive green oval of Certified Acceptance Corporation
(CAC).
This tiny addition with monster-size influence to
existing slabbed coin holders of vintage PCGS and NGC
coins testifies to the accuracy of the slab’s grade as stated
on the fi lament and provides added assurance.
Founded by slabbing pioneer John Albanese, CAC
ratifies the assigned grade to provide reassurance to
owners of these PCGS and NGC slabs that the coins in
the holders are “solidly graded” and not low-end.
Albanese has played pivotal roles in setting up PCGS
at the age of 26, founding NGC soon after, and now
directs the work of CAC. Few professional numismatists
have taken such significant and ongoing parts in these
major market developments.
 QUALITY COINS FROM JACK H. BEYMER
All five six-piece type coin sets are housed in custom Capital Plastics holders, and the coins grade good or better.
EARLY TYPE CENTS EARLY TYPE ODD DENOMINATION

Large Cent Flying Eagle Cent Indian Head Cent Lincoln Cent Lincoln Cent Half Cent Two Cent Piece 3¢ Nickel Silver 3¢ Piece Twenty Cent
1793-1857 1856-1858 1864-1909 1909-1958 1959 to Date 1793-1857 1864-1857 1864-1889 1851-1873 Piece 1875-1878
SET FOR $67.50
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EARLY TYPE QUARTERS
EF-AU BU
$1.00 LIB 225. 325
$2.50 IND 325. 365.
$3.00 1300. 2100.
$5.00 LIB 430. 450. Bust Quarter Seated Quarter Barber Quarter Liberty Quarter Washington Qtr
Seated Half Dime Shield Nickel Liberty Nickel Buffalo Nickel Jefferson Nickel
1837-1873 1866-1883 1883-1912 1913-1938 1938 to Date $10.00 LIB 825. 850. 1815-1838 1838-1891 1892-1915 1916-1930 1932 to Date

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US COMMEMORATIVE
COINS
1893 ISABELLA QUARTER
NGC MS64 .................................... 1031.50
PCGS MS62 492.50 MS63 .............. 560.00
MS60 420.00 PCGS MS61 .............. 457.50
AU55 371.50 AU58 ......................... 385.00
AU50 350.00 NGC AU53.................. 365.00
MS60, whizzed, barely noticeable ... 310.00
EF45 307.50 NGC EF45 .................. 310.00
VF30 270.00 EF40 .......................... 280.00
1900 LAFAYETTE DOLLAR
NGC AU58 775.00 PCGS MS64. .... 2800.00
PCGS MS63 .................................. 1820.00
PCGS UNC details, cleaned.............. 560.00
PCGS EF45 ..................................... 478.50
1921 ALABAMA 2x2 NGC MS65 ...... 1400.00
MS62 445.00 ICG MS65 ............... 1400.00
MS60 377.50 NGC MS64 ................ 597.50
AU50............................................... 350.00
1921 ALABAMA PCGS MS65 ........... 1095.00
AU50 175.00 NGC, PCGS MS63 ...... 513.50
NGC MS62 ...................................... 397.50
1936 ALBANY PCGS MS65 ................ 338.50
MS63 280.00 PCGS MS64 .............. 296.50
MS60.............................................. 266.50
1937 ANTIETAM PCGS MS66 ............ 842.50
MS65 770.00 PCGS MS65 .............. 772.50
1935 ARKANSAS PCGS MS66 ........... 492.50
PCGS MS66 reddish-olden toned...... 492.50
PCGS MS65 .................................... 150.00
1935D ARKANSAS PCGS MS66 ......... 492.50
1935S ARKANSAS PCGS MS66 ......... 457.50
1936 ARKANSAS NGC MS66 ............. 535.00
NGC MS64 142.50 PCGS MS65+ .... 260.00
1936D ARK. PCGS MS66 ................... 422.50
AU50 112.50 PCGS MS65 ............... 247.50
PCGS, ANACS MS64........................ 145.00
1936S ARK. NGC MS66 ..................... 562.50
AU58 110.00 PCGS MS65 ............... 247.50
1937 ARK. PCGS MS66 ..................... 562.50
MS63 131.50 PCGS MS64 .............. 151.50
PCGS MS63 .................................... 133.50
1937D ARK. PCGS MS65 ................... 300.00
1937S ARK. PCGS MS65 CAC............ 305.00
MS60 128.50 PCGS MS65 .............. 300.00
1938 ARK.PCGS MS65 ...................... 422.50
NGC MS64 ...................................... 247.50
1938D ARK. PCGS MS66 ................... 815.00
PCGS MS65 CAC............................. 497.50
PCGS MS65 .................................... 492.50
PCGS MS63 212.50 NGC MS64 ...... 247.50
1938S ARK. PCGS MS65 ................... 750.00
PCGS MS64 CAC............................. 252,50
NGC, PCGS MS64............................ 247.50
1939 ARK. PCGS MS65 ..................... 807.50
1939D ARK. PCGS MS66 CAC ..........1472.50
PCGS MS65 CAC............................. 812.50
NGC MS65 ...................................... 807.50
1939S ARK. PCGS MS66 ................. 1192.50
NGC MS65 ...................................... 807.50
1936S BAY BRIDGE NGC MS65 ......... 240.00
MS60 175.00 PCGS MS64 .............. 212.50
AU55 170.00 AU58 ......................... 171.50
EF40 161.50 AU50.......................... 168.50
1934 BOONE PCGS MS66 ................. 338.50
1935/34 BOONE PCGS MS66 ............ 317.50
PCGS MS64 185.00 NGC MS66 ...... 317.50
1935/34D BOONE 2003 coins issued, the lowest
mintage commem. coin PCGS MS66 .. 982.50
PCGS MS65 .................................... 700.00
1935/34S BOONE
NGC MS65 700.00 NGC MS66 ...... 1065.00
PCGS MS64 .................................... 492.50
1935 BOONE PCGS MS66 ................. 247.50
PCGS MS64 185.00 PCGS MS65..... 198.50
PCGS MS63 .................................... 177.50
1935D BOONE PCGS MS66............... 380.00
PCGS MS64 185.00 PCGS MS65..... 240.00
1935S BOONE
PCGS MS64 185.00 PCGS MS65..... 220.00
1936 BOONE NGC MS66 ................... 282.50
PCGS MS65 .................................... 226.50
ANACS MS64 .................................. 212.50
1936D BOONE NGC MS65 CAC ......... 245.00
NGC MS63 ...................................... 198.50
1936S BOONE NGC MS66 ................. 317.50
PCGS MS65 .................................... 240.00
1937 BOONE NGC MS66 ................... 317.50
PCGS MS64 .................................... 198.50
1937D BOONE NGC MS65 ................ 457.50
NGC MS64 373.50 PCGS MS64....... 373.50
1937S BOONE NGC MS66 ................. 632.50
1938 BOONE PCGS MS66 CAC.......... 672.50
PCGS MS64 465.00 PCGS MS66..... 667.50
1938D BOONE PCGS MS66............... 842.50
1938S PCGS MS65. .......................... 562.50
1936 BRIDGEPORT PCGS MS66 ........ 352.50
PCGS MS64 170.00 PCGS MS65......198.50
1925S CALIFORNIA JUBILEE
MS62 237.50 PCGS MS65 .............. 527.50
MS60 231.50 NGC, PCGS MS64...... 387.50
AU58 228.50 PCGS MS63 ............... 247.50
AU55 226.50 PCGS AU58 ................ 230.00
EF45 203.50 AU50.......................... 224.50
VF20 190.00 EF40 .......................... 190.00
AU50 many small rim dings ........... 185.00
1925 CALIFORNIA DIMOND
JUBILEE watch fob or ribbon medal
1925,miner, bear, sunrise, SF skyline 25.00
1936 CINCINNATI PCGS MS65 .......... 527.50
PCGS MS64 .................................... 457.50
1936D CINCINNATI PCGS MS65 ........ 527.50
PCGS MS63 401.50 PCGS MS64..... 436.50
1936S CINCINNATI PCGS MS65 ........ 527.50
PCGS MS64 .................................... 457.50
1936 CLEVELAND PCGS MS66.......... 255.00
NGC MS66 ...................................... 255.00
MS64 147.50 NGC, PCGS MS65...... 177.50
AU50 112.50 PCGS, NGC MS64 ...... 150.00
1936 COLUMBIA PCGS MS66 CAC .... 322.50
1936D COLUMBIA PCGS MS66 CAC .. 322.50
NGC MS65 ...................................... 282.50
1936S COLUMBIA NGC MS65 ........... 282.50
1892 COLUMBIAN EXPO
NGC MS66 bluish-golden toning, semi proof-like... 950.00
AU55 PL rev 28.50 NGC MS65 ........ 422.50
NGC MS65, toned ........................... 400.00
PCGS MS63 86.50 PCGS MS64....... 156.50
PCGS AU55 28.50 MS63 ................... 84.50
AU50 24.00 AU55 26.00 AU58 .......... 27.50
VF30 22.50 EF40 23.00 EF45 ........... 23.50
1893 COLUMBIAN EXPO
NGC MS66 ...................................... 737.50
NGC MS65, light bluish-golden toning... 550.00
PCGS MS65, untoned ...................... 457.50
PCGS MS64, bluish golden.............. 171.50
MS60 32.50 MS64, toned ............... 140.00
AU58, lovely blue color ...................... 40.00
AU55 26.00 AU58 ............................. 27.50
EF40 23.00 EF45 23.50 AU50 ........... 24.00
F12 21.50 VF20 22.00 VF30.............. 22.50
1893/3 FS301 EF40 27.50 AU55......... 32.50
1893 COLUMBIAN EXPO
on elongated Indian Head cent .......... 27.50
on eongated 1888 seated dime......... 50.00
1935 CONNECTICUT
AU58 248.50 PCGS, NGC MS66 ...... 597.50
NGC MS63 268.50 PCGS MS65 ...... 457.50
1936 DELAWARE PCGS MS66 ........... 436.50
NGC, PCGS MS65............................ 325.00
AU58 260.00 PCGS MS64 ............... 296.50
1936 ELGIN PCGS MS65 ................... 226.50
PCGS MS63 205.00 PCGS MS64..... 212.50
1936 GETTYSBURG PCGS MS65 ....... 933.50
PCGS MS64 702.50 NGC MS65 ...... 933.50
NGC MS65, toning .......................... 900.00
PCGS MS63. ................................... 597.50
1922 GRANT WITH STAR
PCGS MS64 .................................. 3082.50
EF40 770.00 PCGS MS63 ............. 1990.00
1922 GRANT PCGS MS66 ............... 1065.00
MS64 282.50 PCGS MS65 .............. 646.50
PCGS MS63 .................................... 177.50
AU50 126.50 AU55 ......................... 130.00
1928 HAWAII ANACS, PCGS MS63... 2990.00
PCGS MS61 2680.00 NGC MS62 .. 2770.00
PCGS MS62 .................................. 2770.00
PCGS genuine, cleaning,
UNC details. Looks MS63
with light hairlines ........................ 2000.00
1935 HUDSON PCGS MS64............. 1025.00
MS60 840.00 PCGS MS63 .............. 982.50
1924 HUGUENOT WALLOON
PCGS MS66 702.50 NGC MS66 ...... 667.50
PCGS MS62 173.50 PCGS MS65..... 282.50
PCGS MS64 212.50 NGC MS65 ...... 282.50
AU58 150.00 PCGS AU58 ................ 152.50
AU55............................................... 148.50
EF40 126.50 AU50.......................... 147.50
1946 IOWA NGC MS67...................... 255.00
MS65 147.50 PCGS, NGC MS66...... 156.50
MS60 105.00 NGC, PCGS MS65...... 150.00
1925 LEXINGTON CONCORD
PCGS MS64 156.50 NGC MS65....... 387.50
MS62 105.00 PCGS MS65 .............. 387.50
AU58 91.50 NGC MS63 ................... 115.00
AU50 84.50 AU53 86.00 AU55 .......... 88.50
VF20 70.00 VF30 .............................. 73.50
Wooden box of issue ......................... 45.00
1918 LINCOLN-ILLINOIS
AU50 155.00 PCGS MS66 ............... 807.50
NGC MS65 ...................................... 366.50
PCGS MS63 198.50 PCGS MS64..... 255.00
EF40 147.50 EF45 .......................... 151.50
1936 LONG ISLAND
PCGS MS65 205.00 PCGS MS66..... 395.00
MS63 112.50 NGC MS64 ................ 121.50
MS60 105.00 MS62........................ 108.50
AU50 91.50 AU55 95.00 AU58 .......... 98.00
PR65 .5 oz .999 silver
replica .............................................. 20.00
1936 LYNCHBURG PCGS MS65 ......... 331.50
AU58 262.50 PCGS MS64 ............... 296.50
1920 MAINE PCGS MS65 .................. 436.50
MS60 167.50 PCGS, NGC MS64...... 220.00
EF40 118.50 AU50.......................... 147.50
1934 MARYLAND PCGS MS66 .......... 310.00
PCGS MS64 205.00 PCGS MS65..... 233.50
AU58 161.50 PCGS MS63 ............... 191.50
1921 MISSOURI 2X4 PCGS MS65.... 1965.00
PCGS MS64 .................................. 1262.50
AU50 700.00 PCGS MS63 ............. 1185.00
1921 MISSOURI PCGS MS65........... 2242.50
AU58 525.00 PCGS MS64 ............. 1087.50
EF40 336.50 PCGS MS63 CAC ........ 952.50
NGC, ANACS, PCGS MS62 ............... 772.50
1923S MONROE DOCTRINE
AU58 79.50 PCGS MS65 ............... 1122.50
PCGS MS63 142.50 PCGS MS64..... 240.00
AU55 74.50 PCGS AU58 .................... 81.50
VF30 38.50 EF40 42.50 AU50 ........... 56.50
F12 30.00 VF20 ................................ 35.00
VF20, big edge bump ........................ 21.50
1938 NEW ROCHELLE
PCGS MS66 CAC light toned ........... 525.00
NGC MS65 465.00 PCGS MS66 ...... 525.00
MS60 385.00 PCGS MS65+............ 488.50
PCGS MS63 402.50 PCGS MS65..... 465.00
1936 NORFOLK PCGS MS66 ............. 422.50
NGC MS65 387.50 PCGS MS65 ...... 387.50
1925 NORSE AMERICAN MEDALS
PCGS MS63 .................................... 475.00
THICK PCGS, NGC MS64 ................. 350.00
1926 OREGON TRAIL
MS65 280.00 PCGS MS65 .............. 282.50
PCGS MS63 233.50 PCGS MS64..... 247.50
AU50 161.50 AU58 ......................... 176.00
EF40 140.00 SEGS EF45................. 148.50
1926S OREGON TRAIL
AU55 170.00 AU58 ......................... 175.00
EF40 140.00 AU50.......................... 161.50
1928 ORE PCGS MS66...................... 457.50
PCGS MS65 .................................... 317.50
1933D ORE NGC MS65 ..................... 590.00
1934D ORE PCGS MS66,
lightly toned .................................... 457.50
NGC MS65 ...................................... 352.50
1936 ORE NGC MS67 ....................... 632.50
PCGS MS65 296.50 PCGS MS66..... 317.50
PCGS MS64 .................................... 247.50
ANACS MS63 .................................. 233.50
1937D ORE NGC MS67 ..................... 597.50
PCGS MS64 .................................... 255.00
PCGS MS63 233.50 MS64 .............. 252.50
1938 ORE NGC MS67 ....................... 772.50
PCGS MS64 255.00 PCGS MS66..... 387.50
PCGS MS65 .................................... 317.50
1938D ORE PCGS MS67 ................... 702.50
PCGS MS65 331.50 PCGS MS66..... 387.50
1938S ORE PCGS MS65.................... 352.50
1939 ORE NGC MS66 ....................... 772.50
PCGS MS64 632.50 PCGS MS65..... 700.00
PCGS MS64+ CAC .......................... 669.50
PCGS MS64 CAC............................. 637.50
1939S ORE NGC MS67 ................... 1262.50
PCGS MS65 702.50 NGC MS66 ...... 772.50
PCGS MS65 CAC............................. 707.50
PCGS MS65 .................................... 700.00
1915S PANAMA PACIFIC EXPO
PCGS MS65 .................................. 1540.00
PCGS MS64, nicely toned.............. 1087.50
PCGS MS64, untoned ...................... 982.50
AU55 465.00 PCGS MS63 ............... 877.50
PCGS EF45 315.00 AU50 ................ 420.00
1915 PANAMA PACIFIC EXPO
medal 1.5 inches, brass
HK400 Mercury with ship
MS66BN ......................................... 150.00
1920 PILGRIM PCGS MS66 ............... 457.50
NGC MS65 ...................................... 255.00
PCI AU58 102.50 PCGS MS63 ......... 115.00
MS60, bluish toning ........................ 105.00
AU50 91.50 AU55 98.00 AU58 ........ 100.00
VF20 65.00 EF40 .............................. 74.50
1921 PILGRIM
PCGS MS64 240.00 PCGS MS66..... 842.50
AU50 196.50 NGC MS63 ................. 226.50
MS60, edge bumps......................... 148.50
1936 RHODE ISLAND PCGS MS65..... 185.00
PCGS MS63 128.50 PCGS MS64..... 142.50
1936D RHODE ISLAND NGC MS66 .... 255.00
PCGS MS65 185.00 PCGS MS66..... 255.00
1936S RHODE ISLAND PCGS MS65... 212.50
MS64.............................................. 175.00
1937 ROANOKE
PCGS MS64 247.50 PCGS MS65 261.50
PCGS MS64 CAC............................. 252.50
ANACS AU58................ ........ N ARKANSAS
MS63 154.50 PCGS MS66 .............. 422.50
MS62 147.50 PCGS MS65 .............. 240.00
AU58 129.50 PCGS MS64 ............... 185.00
1935S SAN DIEGO PCGS MS66 ......... 177.50
MS65 147.50 NGC, PCGS MS65...... 150.00
PCGS MS65 nice toning .................. 160.00
MS64 132.50 PCGS, NGC MS64...... 135.00
MS63 126.50 PCGS MS63 .............. 128.50
MS62.............................................. 123.00
AU58 116.00 MS60 ........................ 119.50
AU50 112.50 AU55 ......................... 114.50
1936D SAN DIEGO PCGS MS65......... 177.50
PCGS MS6 ...................................... 135.00
AU50 112.50 PCGS MS63 ............... 128.50
1926 SESQUICENTENNIAL
MS62 122.50 PCGS MS64 .............. 255.00
MS60 105.00 PCGS MS63 .............. 142.50
VF30 50.00 AU50 91.50 AU58 ........... 97.50
1935 SPANISH TRAIL PCGS MS65 ... 1400.00
PCGS MS64 .................................. 1360.00
PCGS MS63 .................................. 1332.50
PCGS AU55 ................................... 1272.50
NGC UNC details, scratches
very small obv scratches,
looks very nice.............................. 1192.50
1925 STONE MOUNTAIN
MS64 161.50 PCGS MS65 .............. 220.00
MS63 91.50 ANACS MS64..... 163.50
MS64, was PCGS MS64 .................. 161.50
MS60 77.50 PCGS MS63 .................. 93.50
AU50 70.00 AU55 72.50 AU58 .......... 73.50
VF30 50.00 EF40 53.50 EF45 ........... 63.50
VG7 35.00 F12 40.00 VF20 ............... 47.50
AU50, C in right obv field................... 30.00
1925 STONE MOUNTAIN
doubed die obverse
EF40 69.50 MS64 ........................... 185.00
1934 TEXAS PCGS MS66 .................. 325.00
AU58 157.50 PCGS MS65 ............... 233.50
AU50 154.50 NGC MS64 ................. 191.50
EF45 150.00 PCGS MS63 ............... 177.50
1935 TEXAS NGC, PCGS MS66.......... 325.00
1935D TEXAS NGC, PCGS MS66 ....... 325.00
PCGS MS65 .................................... 247.50
1935S TEXAS PCGS MS66 ................ 325.00
1936 TEXAS PCGS MS66 .................. 325.00
1936D TEXAS PCGS MS66+ ............. 341.50
PCGS MS65 247.50 PCGS MS66..... 325.00
1936S TEXAS PCGS MS66 ................ 325.00
PCGS MS65 .................................... 247.50
1937S TEXAS PCGS MS65 ................ 247.50
1938 TEXAS PCGS MS66 .................. 702.50
PCGS MS65 .................................... 527.50
1938D TEXAS PCGS MS66 ................ 702.50
1938S TEXAS PCGS MS66 ................ 702.50
PCGS MS64 .................................... 352.50
1925 FORT VANCOUVER
MS60 408.50 PCGS MS64 .............. 535.00
AU55 375.00 PCGS MS63 ............... 457.50
EF40 ............................................... 338.50
1927 VERMONT PCGS MS65............. 548.50
PCGS MS64 .................................... 373.50
1946 B.T. WASHINGTON
PCGS, NGC MS65.............................. 72.50
MS64 31.00 PCGS MS64 .................. 32.50
AU58 23.25 MS60 24.00 MS63 ........ 28.00
AU50 21.50 AU55 ............................. 22.50
F12 14.50 EF40 19.50 EF45 ............. 20.75
1946D B.T. WASHINGTON
MS63 28.00 PCGS MS66 ................ 156.50
NGC MS64 ........................................ 32.50
1946S B.T. WASHINGTON
NGC, PCGS MS66............................ 121.50
PCGS MS65 ...................................... 72.50
NGC, PCGS MS64.............................. 32.50
MS60 24.00 MS62 26.00 MS63........ 28.00
AU50 21.50 AU58 ............................. 23.25
1947 B.T. WASHINGTON
MS65 84.50 NGC MS66 .................. 282.50
PCGS, ANACS MS65.......................... 86.50
NGC MS64 ........................................ 72.50
MS63 62.50 PCGS MS64 .................. 72.50
1947D B.T. WASHINGTON
PCGS, NGC MS65.............................. 93.50
PCGS MS64 ...................................... 72.50
1947S B.T. WASHINGTON
NGC MS66PL not labeled PL ........... 505.00
NGC, PCGS, ANACS MS66 ............... 420.00
PCGS, NGC MS65.............................. 93.50
MS63 62.50 PCGS MS64 .................. 72.50
1948 B.T. WASHINGTON
ANACS, NGC, PCGS MS66 ............... 247.50
PCGS MS65 ...................................... 86.50
1948D B.T. WASHINGTON
NGC, ANACS, PCGS MS66 ............... 198.50
MS63 70.00 PCGS MS65 .................. 93.50
PCGS, NGC MS64.............................. 80.00
1948S B.T. WASHINGTON
NGC MS67 CAC, no CAC coins
graded higher ............................... 1460.00
NGC MS66 blue, green,
reddish toning, very nice. ................ 300.00
NGC, PCGS MS66............................ 185.00
1949 B.T. WASHINGTON
PCGS, NGC MS66............................ 240.00
NGC MS64 86.50 PCGS MS65 ........ 191.50
1949D B.T. WASHINGTON
PCGS MS65 .................................... 170.00
1949S B.T. WASHINGTON
PCGS MS65 156.50 NGC MS66 ...... 198.50
1950 B.T. WASHINGTON
NGC, PCGS MS66............................ 247.50
PCGS MS65 .................................... 115.00
1950D B.T. WASHINGTON
NGC, ANACS MS66 ......................... 185.00
PCGS MS64 80.00 PCGS MS65....... 121.50
1950S B.T. WASHINGTON
NGC MS66 112.50 PCGS MS66 ...... 115.00
MS64 56.50 PCGS MS65 ................ 107.50
MS62 31.50 MS63............................ 35.00
AU55 26.00 AU58 26.50 MS60 ......... 28.00
VF20 18.50 EF45 20.00 AU50 ........... 25.00
1951 B.T. WASHINGTON
MS64 49.50 NGC, PCGS MS65.......... 72.50
MS63 38.50 PCGS MS64 .................. 51.50
AU55 23.50 AU58 24.50 MS60 ......... 28.00
1951D B.T. WASHINGTON
PCGS MS64 86.50 PCGS MS66....... 212.50
MS63................................................ 70.00
1951S B.T. WASHINGTON
PCGS MS67, the nicest BTW
I have seen, no coins
graded higher ................................. 915.00
PCGS MS66 .................................... 156.50
1951 WASHINGTON-CARVER
MS64 70.00 PCGS MS65 ................ 212.50
MS63 50.00 NGC, PCGS MS64.......... 72.50
MS62 38.50 NGC, PCGS MS63.......... 52.50
NGC MS62 ........................................ 41.50
VF20 16.00 VF30 .............................. 17.50
1951D WASHINGTON-CARVER
PCGS MS64 80.00 PCGS MS66....... 422.50
MS63 30.00 PCGS MS65 ................ 185.00
1951S WASHINGTON-CARVER
PCGS MS65 100.00 NGC MS66 ...... 212.50
PCGS MS64 65.00 NGC MS65 ........ 100.00
1952 WASHINGTON-CARVER
PCGS MS66 .................................... 170.00
MS63 31.00 PCGS MS65 .................. 72.50
MS60 28.00 PCGS MS64 .................. 37.50
AU58 24.50 NGC, PCGS MS63 .......... 33.50
EF40 19.50 AU50 21.00 AU55........... 23.00
1952D WASHINGTON-CARVER
PCGS, NGC MS66............................ 842.50
PCGS MS62 45.00 PCGS MS64......... 82.50
1952S WASHINGTON-CARVER
PCGS MS65 107.50 NGC MS66 ...... 247.50
PCGS MS64 ...................................... 61.50
1953 WASHINGTON-CARVER
PCGS MS66 CAC............................. 462.50
MS63 42.50 PCGS MS65 ................ 115.00
PCGS MS64 ...................................... 58.50
1953D WASHINGTON-CARVER
ANACS, PCGS MS65........................ 128,50
NGC MS63 51.50 PCGS MS64 .......... 65.00
MS62 45.00 MS63............................ 48.50
1953S WASHINGTON CARVER
MS65 70.00 PCGS MS66 ................ 198.50
MS64 42.50 PCGS MS65 .................. 72.50
MS63 35.00 NGC MS64 .................... 45.00
MS62 32.50 PCGS MS64 .................. 45.00
VF30 23.75 AU58 24.50 MS60 .......... 27.50
1954 WASHINGTON-CARVER
PCGS MS66 .................................... 387.50
NGC, PCGS MS65.............................. 72.50
MS63 35.00 PCGS MS64 .................. 45.00
1954D WASHINGTON-CARVER
PCGS MS65 100.00 PCGS MS66..... 702.50
MS63 42.50 PCGS MS64 .................. 51.50
1954S WASHINGTON-CARVER
PCGS MS65 72.50 PCGS MS66....... 255.00
MS60 27.50 MS62 31.50 MS63........ 35.00
VF30 18.50 EF40 19,50 AU58 ........... 26.00
1936 WISCONSIN PCGS MS67 .......... 492.50
MS66 322.50 PCGS MS66 .............. 303.50
NGC, PCGS MS65............................ 282.50
MS63 224.50 PCGS, NGC MS64...... 240.00
1936 YORK PCGS MS66 .................... 262.50
NGC MS65 240.00 NGC MS66 ........ 262.50
PCGS MS64 226.50 PCGS MS65..... 240.00

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 thE rarity
and bEauty
of u.s.
Gold coins
ExclusivE prEviEw of thE nEw book,
unitEd statEs proof coins,
volumE iv: Gold
by John w. dannrEuthEr
t
he coin market is like all markets: It
moves in cycles. Coins in favor today
might not be as attractive for future
collectors. Those ignored today may be
tomorrow’s jewels. Wait, you say, Mor-
gan dollars will always be desired. Saint-Gaud-
ens double eagles will never be ignored. Yes,
there are some series that will always have its
fans. However, most coin series wax and wane
in popularity. One must have been around a
number of years to remember the time when
Washington quarters and Jefferson nickels could
only be sold to a few specialists. Today, they are
popular with many collectors.
One thing that never fades in popularity is
rarity. The ultra-rare coins have always been
popular with collectors. Besides rarities, the 19th
century collectors’ focus was on proof issues. The
16 coinagemag.com
United States Proof Coins, Volume IV: Gold by John W. Dannreuther,
with foreword by Q. David Bowers, is set to become available in September.
cabinet of a sophisticated coin collector would
consist of rarities and runs of “modern” proof
coins of the era. It is easy to imagine a collec-
tor receiving his 1860s or 1870s proof sets from
the Philadelphia mint and opening the package
to see glittering copper, nickel, silver, and gold
examples fresh from the dies. Those who own
or have seen brilliant proof Liberty Head double
eagles can share that feeling today. The largest
denomination proof gold coins elicit the same
feelings today that those collectors likely felt
when they received their proof set order. This
author remembers going to the post office in the
book background-getty images
1950s and picking up my father’s proof set order
and hurrying home to open the box and look
at the Franklin half dollar – unfortunately, no
gold coins were struck, so the half dollar was the
“coin” that everyone would look at first.

1854 Type 2 Proof Gold dollar
1889 Proof Quarter Eagle
1880 Proof Stella (Four Dollar)
1861 Proof Three Dollar
The term “master-coins” was used instead of proof coins in Mint Director
Snowden’s 1859 directive to cease sales of the coins for face value.
Collectors until the middle of the 20th century still mainly
collected proofs for the Philadelphia issues, even after collect-
ing mintmark coins was popularized around the beginning
of the century. In modern times, the focus is still on rarity,
but today’s collector focus has been on the circulation strike
issues. Since the advent of third-party grading, we now know
that many of the circulation strike coins that used to be priced
as “common” dates in the guidebooks are excessively rare
in uncirculated condition – some so rare that only lightly
circulated examples still exist (1875 eagle, for example, where
no uncirculated coins are known). Population reports are the
rarity guides today. No longer can someone tout an issue as
rare if there are numerous examples graded. True rarity has
been defined by third-party grading services.
You will get no argument here that rare circulation strikes
should not bring the record prices they have attained over
the last few decades. This author agrees that circulation strike
rarities in superlative condition should bring the prices they
have attained in the recent past. However, the cycle is begin-
ning to reverse. This author has begun a series of four volumes
on proof coinage – gold, silver, nickel, and copper issues will
be analyzed in detail with all known varieties pictured and
characteristics noted. The first volume (gold) will be published
before this year’s American Numismatic Association show
in Philadelphia. Fitting. The mother mint is where nearly all
proof coins were struck until modern times, with a smattering
of specially struck coins from the branch mints.
Proof gold coins, of course, almost are all rarities, so they
have always been in demand. Traverse any bourse floor and
you will see a few cases with proof gold issues, but they do not
linger in dealers’ inventories. Savvy collectors buy them and
often keep them for decades. They are too expensive, you say,
and in many cases that is correct. Proof double eagles are out
of many collectors’ price range. However, the copper, nickel,
and silver issues will enjoy the resurgence just as the gold
proofs have in the last few years. The coin market moves in
cycles, as noted, and the underpriced and underappreciated
proof issues will have their day again.
Future collectors will appreciate the coins struck for the
numismatists of the 19th and 20th centuries, just as they were
in their years of issuance. Collectors will feel the same excite-
ment this author felt when the proof sets arrived at the post
office and were taken home and admired. We have the dedi-
cated collectors of the past who preserved these jewels so that
we can enjoy the pinnacle of the Mint’s output – the best coins
they could produce. The apex of American numismatics is the
series of proof coins from the 19th and early 20th century.
Relating to proof coinage, the author recently had an
interesting discussion with PCGS founder David Hall. Mint
documents in the early part of the 19th century did not call
the specially struck coins emanating from its facility what
we call them today, but called them “master-coins.” In Mint
COINAGE SEPTEMBER 17
 THE RARITY AND BEAUTY OF U.S. GOLD COINS
1866 Motto Proof Double Eagle
1833 Proof Half Eagle
Director James Ross Snowden’s December 20, 1859, directive
to no longer sell the specially struck coins for face value, one
can see “proof sets” were not mentioned.
Words change over time, of course, but if PCGS were starting
today, the author suggested that “MC” be used instead of “SP”
for the coins struck without rims. Until tight close collars and
rims were added to the coinage, the quality of the special coins
was inconsistent. So, all lettered-edge Capped Bust half dollars
and coins struck without rims would be labeled “MC65” or
whatever numerical grade assigned to each coin. “PR” would
be used when the mechanical changes took place for each
series. This would leave “SP” with only a single meaning,
while today PCGS applies it to Specimens (those would now be
“MC”) and Special Strikes (Zerbe dollars, etc.).
Another change discussed if there was a do-over would be
the designations for patterns. Currently, some patterns are
called “PR” and others “MS.” The reality is neither is correct!
They were not made for circulation (the “MS” designation), nor
were they struck for collectors in most cases (the “PR” designa-
tion). Thus, all patterns would be called specially struck coins
(“SP”), and the graders would no longer wrestle with certain
patterns where PCGS has assigned coin numbers for “PR” and
“MS” variations. Some of these are impossible to distinguish,
as they have die polish that covers their fields, making the PR/
MS call an arbitrary decision. No one disagrees that they were
specially struck, so they should be called “SP!”
Perhaps, future generations of numismatists will correct these
situations. We all can enjoy the many “master-coins,” proofs,
Special Strikes, and other interesting coins that fascinated the
18 COINAGEMAG.COM
collectors when they were struck and today’s numismatists who
appreciate the earlier generations who preserved them. It really
does not matter what you call them, of course, as the objects
themselves are the miniature works of art that we appreciate.
Editor’s Note: Following is a reprint of the foreword written
by Q. David Bowers from John W. Dannreuther’s new book,
United States Proof Coins, Volume IV: Gold.
There are books and there are more books. In the field of
American numismatics, the first book dedicated to coins of our
country was a slim volume by John H. Hickcox, An Histori-
cal Account of American Coinage, published in 1858. This was
followed in 1859 by the American Numismatical Manual by Dr.
Montroville W. Dickeson. From that time down to the present
era, hundreds of books have been published. In my own library,
in addition to many others, I have some that I consider to be
key – including three editions of Dickeson’s work; S.S. Crosby’s
Early Coins of America published in 1875 and, marvelously,
still essential; Dr. William H. Sheldon’s Early American Cents,
1949, which shaped the world of coin grading and rarity listings;
Walter Breen’s Complete Encyclopedia of U.S. and Colonial
Coins, 1988 (my company sold over 10,000 copies in the first
year of its release); various editions of The Standard Catalogue of
United States Coins 1932 to date; and, of course, the indispens-
able Guide Book of United States Coins 1946 to date, this being a
short list that could be considerably expanded.
Such titles and others are essential to numismatic research,
as are journals and catalogs. Often, to find all there is to know

1838 Proof Eagle
about a specific subject, it is necessary to consult several books,
perhaps even a dozen or more. As the author of quite a few
books on American numismatics I know this well. No such
field work is needed for anyone owning a copy of the present
triumph by John Dannreuther, United States proof Coins Volume
IV: Gold. It is a one-volume encyclopedia that includes more
historical information than could be found by spending a week
or even a month in the National Archives or another of the great
institutional libraries! That John was able to create this while at
the same time maintaining his prominent position in the world
of professional numismatics is amazing.
Gold proof coins are the rarest of the rare among American
coins. They were issued with special finishes ranging from
mirrorlike to satin and distributed to collectors as well as to
dignitaries. Today, all are expensive, and relatively few collec-
tors own examples. The good news is that ownership is not at
all necessary to the enjoyment and knowledge provided by this
unique book – any more than one needs to own Rembrandt or
Bierstadt paintings to profit from reading about them.
Page by page, chapter by chapter, the author tells everything
you might hope to know, plus information you would never
dream existed! I have been studying, buying, and selling gold
coins for all my adult life. Along the way, I have presented at
auction the only complete collection of American gold coins
by date and mintmark ever formed, the Louis E. Eliasberg
cabinet. Add to that the Harry W. Bass, Jr. Collection, the
collection of Ambassador and Mrs. R. Henry Norweb, and
others. In addition, Jeff Garrett and I are working on a book
for the National Numismatic Collection at the Smithsonian.
About John W. DAnnreuther
John West Dannreuther
was born on May 5, 1948,
in Canton, Mississippi.
His father introduced him
to coin collecting very
early in life, persuading
him to move from stamp
collecting by giving him
100 U.S. silver dollars to
start a coin collection. Soon
after, together they bought
a shoebox full of Indian
Head cents and his numismatic career began in earnest.
Their mail order company, V.J. Dannreuther and Sons,
introduced him to the commercial side of numismatics, as
they advertised in coin weeklies.
In 1985, John was a founder of the Professional Coin
Grading Service in Newport Beach, California, along with
David Hall, Bruce Amspacher, and Gordon Wrubel. He
worked for 10 years as a grader for PCGS and continues
as a consultant and working on special projects. He also
was instrumental in the forming of the trading arm of
PCGS, called the American Numismatic Exchange, or
ANE. Although no longer in business, this was the first
electronic trading mechanism for “slabbed” coins and
pioneered sight-unseen and sight-seen bidding.
As a result, I have had first-hand experience with just about
every gold proof issue. However, while many of these coins are
extreme rarities, historical information about them is rarer yet!
No matter what you collect – copper, nickel, silver, gold
coins or whatever – this book will provide information that
covers much of American numismatics, numismatic consid-
erations, Mint production and distribution, and more. For me
it provided an “I am there while this is happening” experi-
ence for many entries. Continuing the analogy, it is like being
there when Rembrandt was in his studio or being with Albert
Bierstadt when he visited the Rocky Mountains with palette,
brush, and canvas.
Before concluding this commentary, I must mention that it
is a bit unusual to have Volume IV of a series published first.
When I read the last Sherlock Holmes mystery story I was sad
that there were no more to follow. Not so with this book. Three
more are in the wings!
I congratulate John Dannreuther on this magisterial book. I
will treasure my copy and refer to it continually.
The new Dannreuther volume is expected to be available
in September 2018. Order information is available online at
orcararities.com.
coinage September 19
20 coinagemag.com
HOW TO GRADE
MORGAN
DOLLARS
PCGS EXPLAINS THE STANDARDS BY WHICH IT GRADES
BY MICHAEL W. SHERMAN | IMAGES COURTESY OF PROFESSIONAL COIN GRADING SERVICE

F
or the past 50 years or so, one of the most popular
series among U.S. numismatists has been the Morgan
silver dollar. Struck between 1878 and 1904 (with a
final issue in 1921), Morgan dollars have achieved
their popularity due to their large size, attractive
design, and widespread availability in Mint State grades at
relatively low cost (for common dates). Large quantities of
Morgan dollars were stored by the Treasury Department
for many years, so today’s collector can acquire a near Gem
example of a 120-140 year old coin for less than $100. Some
Morgan dollars circulated heavily (particularly in the west-
ern states) so Morgans are found in nearly all grades from
Poor 01 through Superb Gem Mint State 68.

Grading Morgan dollars is not particularly difficult because they are

large, struck in silver, and conventionally designed with relatively few strik-
ing anomalies. There are a few issues (such as some weak strikes from the
New Orleans Mint in the late-1880s and 1890s) but in general, most Morgan
LOUPE-GETTY IMAGES

dollars were well struck and fairly uniform in appearance when they left the
mint. However, in the intervening century, quite a bit has happened to them
including transportation and storage in bags, time in circulation, and more
recently, handling (and some mishandling) by dealers and collectors.

COINAGE SEPTEMBER 21
 HOW TO GRADE MORGAN DOLLARS
Poor 01: Date and mintmark barely visible (1884-CC),
identifiable to type. Less than 5% of detail remains.
About Good 03: Rim worn well into the top of the lettering.
10-15% of detail visible.
Good 06: The rim must be complete with few to no weak areas.
Only deepest folds in devices show. 20-25% of detail visible.
Very Good 10: Hairline above forehead now clear.
Major folds in hair now visible. 33-40% of detail shows.
In lower circulated grades up to about VF-20, the focus is
generally on what is visible on the coin. In grades of Poor-01 and
Fair-02, a readable date and mintmark is a must. From AG-03
through Good-06, the focus is mainly on the rim. It will be worn
well into the letters on an AG-03, perhaps just touching the tops
of the letters in Good-04, and by Good-06, the rim should be
full. In the grades of VG-08 and -10, and Fine-12 and -15, the
22 COINAGEMAG.COM
Fair 02: A date is visible. Rim worn heavily into lettering.
Note “LIBERTY” is deeply engraved and visible at lowest grades.
Good 04: All lettering should be readable. Rims may be weak,
incomplete, or touching tops of letters. 15-20% of detail visible.
Very Good 08: Outline of hairline above forehead now faintly visible.
About a quarter to a third of hair detail shows.
Fine 12: Some inner detail now can be seen in leaves of cap.
Some detail now evident in upper part of wings. 40-50% detail.
major elements in the design such as the hairline around the
forehead and in front of the ear become visible. The feathers on
the back of the eagle’s wing also gain internal detail.
Above VF-20, the focus shifts to what is missing rather that
what is present. Points of wear in the upper grades are naturally
the high points of the design, and flatness on the hair directly
above the ear and on the eagle’s breast are the areas to look for.
IMAGES COURTESY OF PROFESSIONAL COIN GRADING SERVICE
Fine 15: Just over half of hair detail is visible. Most outer feathers on Very Fine 20: Flat areas still seen above ear, and throughout hair, but
eagle outlined. Breast still flat. 50-60% detail. most of major lines are clear. About 2/3 of hair is visible.

Very Fine 25: Faint evidence of feathers on eagle’s breast. Liberty’s Very Fine 30: Roughly three quarters of hair detail now visible on
face starting to show roundness. 70-75% of detail. obverse. Virtually all of eagle’s wings show good detail.

Very Fine 35: About 80-85% of hair detail now clear. Feather detail Extremely Fine 40: Despite some flat spots, all major areas of hair
now evident on eagle’s head and neck. show 85% to 90% of detail.

Extremely Fine 45: Over 90% of detail remains. Eagle’s breast still About Uncirculated 50: Some finer inner detail now showing. Faint
shows some wear, but reverse otherwise full. feathers over entire breast of eagle. 95-97% detail.

By AU-53 or -55, some luster in the protected areas may be found,

and by AU-58, there should be considerable luster on the coin.
“MORGAN DOLLARS HAVE ACHIEVED THEIR
Mint State grades are largely determined by the preservation of POPULARITY DUE TO THEIR LARGE SIZE, ATTRACTIVE
the coin’s surface. Because Morgan dollars are large and heavy, DESIGN, AND WIDESPREAD AVAILABILITY IN
they are quite vulnerable to bag marks. Years of handling and
movement in bags have taken their toll, and many Mint State
MINT STATE GRADES AT RELATIVELY LOW COST
examples today show a fair amount of contact marks from hitting (FOR COMMON DATES).”
COINAGE SEPTEMBER 23
 HOW TO GRADE MORGAN DOLLARS
About Uncirculated 53: 97-98% detail showing.
Some luster is now evident.
About Uncirculated 58: Virtually full luster and all detail sharp.
Just a bare trace of rub on very highest points.
Mint State 61: Numerous marks and scratches over surface.
See deep cut over eagle’s breast.
Mint State 63: Enough marks in fields and devices to be very
noticeable, but overall appearance is no longer heavily “beaten.”
and scraping against other coins in the bag. Most heavily bag-
marked Morgans would grade in the MS-60-62 range. MS-63s
and -64s will show some marks, but none should be particularly
heavy or distracting. By the time you get to MS-65 and -66, the
coin should be quite clean, with only a few light marks in the
fields or on the cheek. The elusive MS-67s and -68s are superb
24 COINAGEMAG.COM
About Uncirculated 55: Only a light amount of rub shows
on eagle’s breast and hair above ear.
Mint State 60: Heavy marks and scratches over entire surface.
Note deep scratch in left field.
Mint State 62: Still a good number of marks, but fields are clearing up
and no mark is particularly heavy. Some reverse spots.
Mint State 64: Fields and devices are reasonably clean,
with just scattered marks, most of which are light.
examples, with only a few trivial marks in out-of-the-way places.
The left obverse field and cheek of Liberty should be nearly free
of marks in the highest grades, as those are the areas to which
the eye is first drawn.
PCGS assigns two qualifiers to Mint State Morgan dollars:
Prooflike and Deep Mirror Prooflike. These coins were struck
IMAGES COURTESY OF PROFESSIONAL COIN GRADING SERVICE
 Mint State 65: Devices now show only minimal marks. A few Mint State 66: Just a few tiny marks
scattered marks in fields, but coin is now considered quite nice. remain in devices and fields.

Mint State 67: A very few trivial marks can be seen. Mint State 68: Close inspection is needed to find marks.
Excellent luster and strike. Color, luster, and strike is exceptional.

Mint State 69: At the threshold of

perfection. Extraordinarily rare.

from freshly or heavily polished dies and constitute a relatively
small portion of all Morgan dollars. They are highly prized by
collectors due to their reflective fields.
Morgan dollar reverses almost always appear nicer than the
obverse due to the dynamics of the design. There is not quite as
much open field area, and the eagle tends to hide marks better
than Liberty’s cheek. At least two-thirds of the grading weight is
generally given to the obverse on a Morgan dollar.
Learning to grade Morgan dollars is easier than for many
series due to their widespread availability in Mint State grades.
Just go to a coin show and look in dealers’ cases, and you can see
lots of examples that should provide a great education.

COINAGE SEPTEMBER 25
 PRESERVING
THE GRADES
OF YOUR COINS
How coins
are ruined
and how
coins are
saved

by David J. Camire
and Richard S. Montgomery
CREDIT: NUMISMATIC CO

26 COINAGEMAG.COM
 Before and After

I
mproper storage and exposure to harsh environments
can diminish a coin’s eye appeal, grade, and, in some
cases, cause permanent damage. In 2001, Numis-
matic Conservation Services (NCS) was established to
remedy these issues by providing professional conservation
services for coins that suffer from harmful surface contami-
nants and unattractive spots, haze, or tarnish.
Unlike amateur attempts at cleaning, which can cause
hairline scratches and other damage, NCS takes a scientific
approach that preserves and protects a coin’s originality.
NCS will never perform repairs such as fi lling holes or
smoothing scratches, or do any type of mechanical altera-
tion. The techniques used by NCS are non-invasive and
ONSERVATION SERVICES widely accepted by industry experts.

COINAGE SEPTEMBER 27
 M
any collectors choose to have their coins because doing so would alter a coin’s originality. Scratches,
G R A D E S

conserved by NCS before they are graded
by Numismatic Guaranty Corporation
(NGC), an affiliated company. NCS
conservation often results in enhanced
T H E
holes, and other damage therefore cannot be addressed by NCS
conservation. A comprehensive list of coins that can and cannot
benefit from NCS conservation, along with helpful images, is
available at NGCcoin.com/NCS.

eye appeal and will stabilize a coin’s surfaces. It is important to NCS has a proven record of expertise and professionalism.
understand that NCS is not an “upgrade service,” however, and Over the last 17 years, NCS has conserved more than 1 million
while its work can sometimes result in a higher grade at NGC, coins, tokens, and medals, including rarities from the Smithson-
P R E S E R V I N G

this is never guaranteed. ian Institution and tens of thousands of shipwreck-recovered

We have presented a series of photographs here that illustrate coins. The American Numismatic Association (ANA), the only
uncertified coins before conservation and certified by NGC after coin collecting organization chartered by the U.S. Congress, and
NCS non-invasive techniques were applied. the Professional Numismatists Guild (PNG) have both named
When a coin is submitted to NCS, it is first evaluated by a NCS their conservation service of choice.
specialist to determine whether it will benefit from conservation. Collectors and dealers benefit from NCS’s affiliation with
If NCS believes that the coin will not benefit from conservation, NGC, the world’s largest third-party coin authentication and
it is not conserved and instead is transferred directly to NGC for grading service. Founded in 1987, NGC has certified more than
authentication and grading. 41 million coins, tokens, and medals from virtually every coun-
try, past and present. In 1995, it was named the official grading
Among the coins that service of the ANA and PNG.
NCS is not only able to leverage the expertise of NGC’s more
can benefit from NCS than 30 full-time graders, but it can also offer submitters a
conservation are streamlined process where coins are conserved and then seam-
those that have been
improperly stored,
such as in packaging
that contains polyvinyl
chloride (PVC), a
plasticizer used in many
soft coin “flips.”

If NCS believes that conservation will benefit the coin, it will

determine the appropriate method or methods and conserve it
in its state-of-the-art lab. After conservation, the coin is then
transferred to NGC for authentication and grading.
Among the coins that can benefit from NCS conservation
are those that have been improperly stored, such as in packag-
ing that contains polyvinyl chloride (PVC), a plasticizer used
in many soft coin “flips.” Over time, the PVC leaches onto the
coin’s surfaces and leaves a green residue that can cause perma-
nent damage if left untreated. NCS pioneered can safely remove
these harmful surface contaminants and often dramatically
improve a coin’s eye appeal. Unlike improper cleaning, which
will permanently impair a coin’s surfaces, professional conserva-
tion from NCS reveals a coin’s originality.
Other coins that can benefit from NCS conservation include
coins with haze, gold coins with copper spots, coins with detri-
tus or encrustations, and artificially toned coins.
There are certain issues that cannot be addressed by NCS
conservation. NCS does not make any mechanical repairs 1920 25C Before and After

28 COINAGEMAG.COM
lessly transferred for authentication, grading, and encapsulation.
When a coin is submitted for NGC grading, it is first evaluated
for authenticity. NGC’s graders have numerous resources to assist
them in authenticating coins, including a comprehensive image
catalog, X-ray fluorescence spectroscopy, and other equipment.
If determined to be authentic, a coin is then assigned a grade
to describe its state of preservation. Most coins are graded
according to an internationally recognized scale of 1 to 70.
Certain coins, however, have surface issues such as scratches or
damage that preclude a numeric grade. These coins receive an
adjectival NGC Details grade.
Coins conserved by NCS may receive either a numeric grade or
an NGC Details grade. Nothing that NCS does will cause a coin
to receive an NGC Details grade, but the coin may have already
had issues such as scratches, damage, or even an earlier attempt
at cleaning that may result in an NGC Details grade.
Multiple professional graders examine every coin to reach a
consensus grade. To ensure impartiality, NGC graders never
know the identity of a coin’s submitter and strict procedures are
in place to prevent conflicts of interest.
Once graded, coins are encapsulated in NGC’s secure,
tamper-evident holder designed for long-term preservation and
1751 Chile 8E Before and After
protection. The NGC holder – the same used by the Smithsonian
Institution and other museums – features a certification label
with the coin’s description, NGC grade, and unique NGC certifi-
cation number, as well as a number of security elements.
As an added measure of protection, NGC has imaged coins
after encapsulation since October 2008 and has made these
images available for free on its website at NGCcoin.com/verify.
These images help prospective buyers verify that the NGC
holder is genuine and has not been tampered with.
Certification by NGC removes uncertainly about authenticity
and grade. In fact, every U.S. and world coin certified by NGC is
guaranteed to be genuine and not over-graded. This adds safety,
transparency, and confidence to the numismatic marketplace,
resulting in greater liquidity and higher prices realized.
Collectors can submit directly to NCS and NGC if they are
a paid member of the NGC Collectors Society (memberships
start at $25 per year). For more information, visit NGCcoin.
com/join.
David J. Camire is president of Numismatic Conservation
Services, and Richard S. Montgomery is president of
Numismatic Guaranty Corporation.
1992 China S3Y Inventions & Discoveries
Before and After
COINAGE SEPTEMBER 29
 The
Beautiful
Legacy of
Swiss Coins
ONE NATION’S COINAGE
VIEWED AS A PASSPORT
TO FREEDOM
by Edward Kiersh

GETTY IMAGES

30 COINAGEMAG.COM
A
man without money, without even a few
coins in his pocket, is a man adrift, lost
in limbo, even reduced to a loneliness
bordering on desperation.
In Switzerland, a country synonymous
with hidden bank accounts, vast wealth, and
privilege, a place where World War II refugees
fled with coins secreted in their clothing, no
coins in one’s pocket raised all sorts of sinister
specters. An anxiety that augured something
very dire was about to happen.
My stay at the Grand Hotel Villa Castagnola,
a stately five-star estate on the shores of Lake
Lugano, had started off on a much brighter note.
I had been led to a luxurious suite overlooking
a charming sculpture garden, held three shiny
Helvetia 2-franc coins, and gazed at the stars
beginning to appear in a cloudless sky. All seemed
right with the world. I was ready to head for the
bar to exchange a newly minted 20-franc piece for
a robust Cohiba cigar. Both were things of beauty.
“YeS, thoSe beautiful
CoinS baCk then
brought them new
beginningS, new liveS.
So even though thoSe
franC pieCeS firSt
CauSed me a night of
diffiCultieS, theY were
Still lovelY.”
But as I soon realized, giving up that piece of
Switzerland, a country still locked into using its
own currency of the realm and not the euro, was
a mistake I would pay for dearly.
Once I finished that cigar, I had a decision to
make. Would I eat in one of the Castagnola’s sump-
tuous restaurants, or be more adventurous by going
to an Italian restaurant in the center of Lugano?
My new friend behind the concierge desk had
given me a few bus passes, so I decided to see if
this lakeside city turned popular warm weather
resort was brimming with nightlife.
It was. Every bar was jammed, teeming with
young people gaily flashing brightly colored red,
yellow, and gray Swiss banknotes – 10s, 20s, and
50s – in seeming defiance of the financial ills grip-
ping Italy, Spain, and other European countries.
Exhilarated by the merriment, I proceeded to
an Italian restaurant and celebrated my arrival
in this Alpine city by ordering a three-course
meal and a bottle of fine Chianti wine.
Everything seemed perfect, that is, until it
came time to pay the meal.
I reached for my wallet and suddenly realized
it had been left in the hotel, along with my
passport. Moneyless and stateless, a stranger in
a foreign land, a nobody without even a few of
those shiny francs to show the restaurant owner.
My heart sank the moment I had to explain
my predicament to him.
“What, no money, no credit cards, nothing?”
he barked.
I just looked at him, powerless to respond. I
had been reduced to a non-person, some sort of
criminal. Now if I only had some shiny Helvetia
coins, Switzerland’s independence from the rest of
the world’s chaos, I would again be a free man.
What could I do? After suffering more irri-
tated, increasingly angry looks from the owner,
I convinced him to call the hotel. That caused
me more embarrassment, and I eventually went
back there to retrieve my money.
I was still left with disturbing thoughts.
How many people had fled from Nazi
Germany to wrap themselves in the survival
opportunities Switzerland promised – to con-
vert their life savings into Swiss money, and to
be suddenly free from oppression?
Yes, those beautiful coins back then brought
them new beginnings, new lives. So even though
those franc pieces first caused me a night of dif-
ficulties, they were still lovely. They had brought
so many people passports to freedom.
coinage September 31
The COINage PrICe guIde september 2018
1859-1909 IndIan Head Cents
G04 VG10 F15 VF20 XF40 AU50 MS60 MS65
1894 (double die date) 25 60 125 175 300 400 900 7250
1895 2 2.75 3.50 4 12 20 40 200
1896 2 2.75 3.50 4 15 20 40 200
1897 2 2.75 3.50 4 15 20 40 225
1856-1858 FLyIng eagLe Cents 1898 2 2.75 3.50 4 15 20 40 175
G04 VG10 F15 VF20 XF40 AU50 MS60 MS65 1899 2 2.75 3.50 4 15 20 40 175
1856 6500 7500 10000 11000 11500 12500 17500 60000 1900 2 2.75 3.50 4 12 20 35 175
1857 30 40 45 50 175 225 500 4000 1901 2 2.75 3.50 4 12 20 35 175
1858 (small letters) 30 40 55 75 175 275 475 5000 1902 2 2.75 3.50 4 12 20 35 175
1858 (large letters) 30 40 55 80 175 250 425 4500 1903 2 2.75 3.50 4 12 20 35 175
1904 2 2.75 3.50 4 12 20 35 175
1905 2 2.75 3.50 4 12 20 35 175
1906 2 2.75 3.50 4 12 20 35 175
1907 2 2.75 3.50 4 12 20 35 175
1908 2 2.75 3.50 4 12 20 35 175
1908-S 65 90 100 125 150 200 250 775
1909 10 12 15 18 20 30 40 150
1909-S 450 525 575 600 700 850 1000 2250

1859-1909 IndIan Head Cents

G04 VG10 F15 VF20 XF40 AU50 MS60 MS65
1859 15 20 25 45 100 175 275 3750
1860 10 15 20 35 75 100 200 1500
1860 (point bust) 20 35 50 60 100 150 300 5000
1861 25 35 50 60 100 150 200 1750
1862 8 10 15 25 50 75 125 1275
1863 8 10 15 25 50 75 125 1200
1864 (copper, nickel) 20 30 40 60 90 100 200 1750 1909-1958 LInCoLn WHeat Cents
1864 (bronze, round bust) 10 18 30 40 60 80 100 350 VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS66
1864 (bronze, point bust) 50 100 125 150 250 325 425 1750 1909 V.D.B. 10 12 15 18 20 30 65 100
1865 8 15 20 25 45 55 100 450 1909-S V.D.B. 600 700 90 1150 1250 1750 3000 5000
1866 40 60 90 100 175 225 300 1000 1909 4 5 6 10 15 25 65 100
1867 50 80 100 125 175 225 275 1000 1909-S 125 150 225 250 325 375 575 1000
1868 35 60 90 125 175 225 275 875 1909-S (S over horizontal S) 135 200 250 325 400 500 1000 -
1869 75 150 225 325 450 500 675 1500 1910 0.50 1 5 8 18 30 125 200
1869/9 200 500 700 800 900 1000 1200 2500 1910-S 20 30 50 65 100 175 275 -
1870 75 150 225 300 425 475 575 1250 1911 1.25 2.50 8 10 20 50 150 275
1871 75 150 275 300 400 525 625 2000 1911-D 7 10 50 75 100 200 450 -
1872 100 225 325 400 550 675 775 2750 1911-S 50 55 75 100 200 325 775 1250
1873 (closed 3) 25 50 75 100 200 250 400 1500 1912 2.25 2.50 12 25 40 60 125 300
1873 (closed 3, double liberty) 300 800 1400 1600 2500 4000 8000 - 1912-D 12 25 65 100 175 225 625 -
1873 (open 3) 25 50 65 75 175 200 300 1000 1912-S 30 40 80 100 200 300 875 1500
1874 15 30 60 65 100 150 225 600 1913 1.25 3 18 25 40 60 175 625
1875 15 40 60 70 125 150 250 600 1913-D 4 10 50 70 100 225 525 900
1876 30 50 100 125 200 250 325 700 1913-S 18 30 50 75 150 300 700 1250
1877 625 900 1250 1750 2500 2750 3750 8500 1914 1.75 5 20 35 55 75 250 -
1878 25 50 100 125 225 250 350 800 1914-D 250 400 900 1500 2250 3500 7250 12000
1879 7 12 20 35 75 80 100 325 1914-S 35 40 90 150 350 500 1250 -
1880 4 7 10 12 30 50 80 300 1915 4 15 50 60 90 125 350 575
1881 3 6 8 10 25 30 55 300 1915-D 4 8 25 45 80 125 275 575
1882 3 6 8 10 25 30 55 275 1915-S 25 30 65 100 200 575 1250 2500
1883 3 6 8 10 25 30 55 250 1916 0.75 2.50 8 12 18 45 100 125
1884 4 7 10 12 30 45 80 350 1916-D 2.50 5 15 30 70 150 550 1500
1885 6 10 20 25 65 75 100 525 1916-S 4 10 25 45 100 225 1000 2250
1886 3 15 40 50 150 175 200 1250 1917 0.50 2 5 10 15 35 150 -
1886 (obverse of 1887) 7 20 35 50 150 150 200 850 1917 (double die obverse) 275 350 1250 2000 3000 4000 - -
1887 3 5 7 8 18 30 55 325 1917-D 2.50 5 25 40 80 150 375 1750
1888/7 2000 4000 6500 8500 - - - - 1917-S 1.25 3 10 25 85 200 1000 -
1888 2.50 5 7 8 25 30 70 650 1918 0.50 1 4 10 15 35 150 325
1889 2 3.50 5 6 15 25 50 300 1918-D 1.75 5 12 30 75 150 625 -
1890 2 3.50 5 6 12 25 50 350 1918-S 1.75 4 12 30 100 250 1250 3500
1891 2 3.50 5 6 12 25 50 275 1919 0.50 1 3 5 12 30 65 150
1892 2 3.50 5 6 20 25 50 250 1919-D 1.75 4 10 30 70 125 425 700
1893 2 3.50 5 6 18 25 50 225 1919-S 1.25 3 6 20 60 150 550 -
1894 5 10 15 20 40 55 75 425 1920 0.50 1.50 2.50 5 15 25 60 -

32 coinagemag.com
 september 2018
1909-1958 LInCoLn WHeat Cents 1909-1958 LInCoLn WHeat Cents
VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS66 VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS66
1920-D 2.50 6 18 35 75 150 500 1250 1943-D steel (doubled D) 45 60 100 150 200 300 - -
1920-S 1.25 3 10 35 100 225 1000 - 1943-S steel 0.20 0.50 0.75 1 3.50 12 30 65
1921 1.25 3 10 20 45 75 150 350 1944 0.06 0.10 0.15 0.25 0.50 3.50 10 12
1921-S 2.50 6 40 65 125 225 850 - 1944-D 0.10 0.20 0.25 0.30 0.50 1.75 10 15
1922-D 20 25 40 65 100 200 425 - 1944-D (D over S) - - - - - 475 800 1500
1922 (missing D) 800 1000 2250 4250 12000 28000 88000 - 1944-S 0.06 0.10 0.25 0.30 0.40 1.75 8 12

The COINage PrICe guIde

1923 0.75 1.50 5 8 15 30 125 200 1945 0.06 0.10 0.25 0.30 0.40 1.75 8 12
1923-S 7 12 45 85 225 475 1500 - 1945-D 0.06 0.10 0.25 0.30 0.50 1.50 8 15
1924 0.50 1 5 10 25 45 90 175 1945-S 0.06 0.10 0.25 0.30 0.40 2.25 10 15
1924-D 45 60 100 150 300 525 1250 3000 1946 0.06 0.10 0.25 0.30 0.40 1.50 7 15
1924-S 2.50 6 25 70 125 350 1500 - 1946-D 0.06 0.10 0.25 0.30 0.40 0.75 7 15
1925 0.40 0.60 3 6 10 20 75 - 1946-S 0.06 0.10 0.25 0.30 0.40 1 7 12
1925-D 2.50 6 12 30 65 125 475 - 1947 0.06 0.10 0.25 0.30 0.40 1 5 12
1925-S 1.75 3 12 30 125 250 875 3750 1947-D 0.06 0.10 0.25 0.30 0.40 0.75 7 15
1926 0.40 0.60 2 4 10 20 40 85 1947-S 0.06 0.10 0.25 0.30 0.40 0.75 8 12
1926-D 2.50 6 15 30 75 150 675 - 1948 0.06 0.10 0.25 0.30 0.40 1 7 12
1926-S 10 15 30 60 275 525 3000 - 1948-D 0.06 0.10 0.25 0.30 0.40 0.75 7 12
1927 0.35 0.60 2 4 10 20 55 125 1948-S 0.06 0.10 0.25 0.30 0.75 1.75 7 12
1927-D 2.25 3 8 25 60 100 325 650 1949 0.06 0.10 0.25 0.30 0.40 1 5 12
1927-S 2.50 6 15 35 75 200 850 - 1949-D 0.06 0.10 0.25 0.30 0.40 1.25 5 18
1928 0.35 0.60 2 3 8 15 65 125 1949-S 0.06 0.10 0.25 0.30 1.25 3 7 18
1928-D 1.75 4 5 15 35 70 275 - 1950 0.06 0.10 0.25 0.30 0.40 1.50 6 10
1928-S 1.75 4 10 25 70 150 350 - 1950-D 0.06 0.10 0.25 0.30 0.40 1.50 6 12
1929 0.35 0.60 2 3 8 15 45 90 1950-S 0.06 0.10 0.25 0.30 0.40 1.50 6 10
1929-D 1.25 3 5 12 25 40 125 250 1951 0.06 0.10 0.25 0.30 0.50 1.50 6 10
1929-S 1.75 3 6 12 20 35 80 150 1951-D 0.06 0.10 0.25 0.30 0.40 1.50 6 10
1930 0.35 0.60 1.25 2 6 10 25 40 1951-S 0.06 0.10 0.25 0.30 0.50 1.50 6 10
1930-D 0.50 1 2.50 4 15 30 50 100 1952 0.06 0.10 0.25 0.30 0.50 1.50 6 10
1930-S 0.55 1 2 5 10 15 35 70 1952-D 0.06 0.10 0.25 0.30 0.40 1.50 7 15
1931 0.75 2 4 8 20 35 70 100 1952-S 0.06 0.10 0.25 0.30 1.25 3 7 12
1931-D 7 8 15 35 60 100 200 350 1953 0.06 0.10 0.25 0.30 0.40 1.50 6 12
1931-S 75 100 125 135 175 200 300 525 1953-D 0.06 0.10 0.25 0.30 0.40 1.50 6 10
1932 2.50 4 5 12 18 30 45 75 1953-S 0.06 0.10 0.25 0.30 0.40 1.50 6 12
1932-D 2.25 3 5 12 18 30 50 125 1954 0.06 0.10 0.25 0.30 0.40 1.50 6 10
1933 2.25 3 6 12 20 30 45 80 1954-D 0.06 0.10 0.25 0.30 0.40 1.25 4 10
1933-D 4 6 12 18 25 35 50 100 1954-S 0.06 0.10 0.25 0.30 0.40 1 4 10
1934 0.35 0.50 1 2.75 6 10 18 30 1955 0.06 0.10 0.25 0.30 0.40 0.75 4 8
1934-D 0.75 1.25 4 8 15 20 30 60 1955 (double die date) 1250 1500 1750 2000 2500 3000 8500 -
1935 0.15 0.25 0.50 1 1.75 7 18 30 1955-D 0.06 0.10 0.25 0.30 0.40 0.75 3 8
1935-D 0.35 0.60 1 2.50 5 10 18 25 1955-S 0.06 0.10 0.25 0.30 0.40 1 4 7
1935-S 0.50 1 2 4.50 12 18 40 75 1956 0.06 0.10 0.25 0.30 0.40 0.75 6 12
1936 0.25 0.40 1 1.50 2.25 4 10 18 1956-D 0.06 0.10 0.25 0.30 0.40 0.75 5 12
1936 (double die obverse) 20 40 80 100 200 300 800 - 1957 0.06 0.10 0.25 0.30 0.40 0.75 3 10
1936-D 0.35 0.60 1 1.50 5 8 15 20 1957-D 0.06 0.10 0.25 0.30 0.40 0.75 3 18
1936-S 0.35 0.60 1 2 5 8 15 30 1958 0.06 0.10 0.25 0.30 0.40 0.75 3 10
1937 0.35 0.60 1 1.50 2 3 7 15 1958-D 0.06 0.10 0.25 0.30 0.40 0.75 3 10
1937-D 0.35 0.60 1 1.50 3 4 15 18
1937-S 0.35 0.60 1 1.50 3 8 12 25
1938 0.35 0.60 1 1.50 3 5 9 18
1938-D 0.35 0.60 1 1.50 3 5 12 18
1938-S 0.45 0.80 1 2 3 5 15 20
1939 0.35 0.60 1 1.50 2 3 8 20
1939-D 0.35 0.60 1 1.50 3 4 12 20
1939-S 0.35 0.60 1 1.50 3 4 10 25
1940 0.35 0.60 0.75 1 2 3 4.5 18
1940-D 0.35 0.60 1 1.50 2 3 10 15 1866-1883 sHIeLd nICkeLs
1940-S 0.35 0.60 1 1.50 2 3 10 18 G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67
1941 0.35 0.60 1 1.50 2 3 8 12 1866 30 50 80 150 225 325 2000 -
1941-D 0.35 0.60 1 1.50 2 3 6 12 1867 (with rays) 40 55 100 200 250 400 3500 35000
1941-S 0.35 0.60 1 1.75 2 3 10 18 1867 (without rays) 20 30 40 65 100 150 800 -
1942 0.35 0.60 0.75 1 1.25 3 7 12 1868 20 30 40 70 100 150 800 -
1942-D 0.35 0.60 0.75 1 1.25 3 10 18 1869 20 30 40 70 100 150 800 10000
1942-S 0.40 0.75 1 1.50 5 8 12 15 1870 25 45 60 90 100 175 2000 10000
1943 steel 0.15 0.30 0.50 0.60 1 3.50 25 50 1871 80 125 200 300 325 450 2500 -
1943-D steel 0.45 0.60 0.75 1 1.50 8 25 50 1872 20 35 60 90 100 175 1750 22500

33
The COINage PrICe guIde september 2018
1866-1883 sHIeLd nICkeLs 1883-1912 LIberty Head nICkeLs
G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67 VG10 VF20 XF40 AU50 MS60 MS65 MS66 MS67
1873 (closed 3) 40 60 100 150 225 300 2750 - 1895 15 40 75 125 150 2250 5500 -
1873 (open 3) 20 35 50 75 100 150 2250 - 1896 25 60 100 150 200 2000 9750 -
1874 20 35 75 100 125 200 1750 - 1897 6 25 50 65 100 875 3250 15000
1875 30 50 85 125 150 250 1500 - 1898 6 25 50 70 125 800 2250 -
1876 25 50 85 125 150 200 1500 - 1899 4 20 30 60 90 575 1500 12500
1879 300 550 750 975 1000 1500 3500 14000 1900 4 20 30 60 85 550 1500 15500
1880 1000 1750 3000 6250 7000 12000 75000 - 1901 3 12 30 60 85 525 1500 18000
1881 250 350 500 700 850 1000 2750 7750 1902 3 12 30 60 85 525 1250 12000
1882 15 25 40 65 95 150 700 5000 1903 3 12 30 60 85 525 1250 12000
1883 15 25 40 65 95 150 675 4500 1904 3 12 30 60 85 525 1000 7500
1883 (3 over 2) 200 350 800 1250 1500 2000 10250 22500 1905 3 12 30 60 85 525 1000 -
1906 3 12 30 60 85 650 3750 -
1907 3 12 30 60 85 775 2000 -
1908 3 12 30 60 85 1000 3500 9500
1909 3 12 30 75 100 950 2500 -
1910 3 12 30 60 85 675 3750 15000
1911 3 12 30 60 85 525 1250 -
1912 3 12 30 60 85 525 1500 -
1912-D 12 40 75 175 300 2000 5500 18000
1912-S 200 500 975 1250 1500 3000 5500 20000
1866-1883 sHIeLd nICkeLs ProoFs
PR60 PR61 PR62 PR63 PR64 PR65 PR66 PR67
1866 1250 1500 1750 2000 2250 3000 5000 18000
1867 (with rays) 18000 20000 25000 35000 42750 62500 75000 -
1867 (without rays) 225 275 325 500 1250 2250 4500 -
1868 250 275 300 375 600 1250 2250 4250
1869 225 275 300 375 550 950 1500 3750
1870 225 275 300 375 525 1000 2500 -
1871 225 275 300 400 550 1000 1500 6250
1872 225 250 300 375 500 700 1250 5000 1913-1938 IndIan Head buFFaLo nICkeLs
1873 (closed 3) 225 250 300 350 500 700 1250 6500 VG10 VF20 XF40 AU50 AU55 MS60 MS65 MS67
1873 (open 3) 225 250 300 350 525 825 1250 5000 1913 (five cents in recess) 10 15 20 25 30 35 350 5000
1874 225 250 300 350 525 825 1250 5000 1913-D (five cents in recess) 20 30 40 55 65 75 300 2750
1875 225 275 325 400 625 1250 2750 - 1913-S (five cents in recess) 425 500 600 700 750 900 4500 25000
1876 225 250 300 350 525 825 1250 6500 1914 20 25 35 40 45 55 525 7250
1877 3000 3250 3500 3750 4250 5250 6250 12000 1914/3 300 500 700 1250 2000 3000 - -
1878 1500 1600 1700 1800 1900 2000 2250 3000 1914-D 150 200 250 300 400 500 1500 -
1879 325 350 375 450 600 800 1250 2750 1914-S 40 60 80 125 150 200 2000 -
1880 300 325 425 475 550 700 950 2000 1915-D 35 50 100 150 200 250 1800 -
1881 250 275 325 375 475 675 925 1750 1915-S 80 200 375 525 575 675 3500 40000
1882 200 250 300 350 450 675 925 1750 1916 6 8 12 20 35 50 325 -
1883 200 250 300 350 450 675 925 1750 1916 (double die obverse) 7000 12500 25000 30000 40000 85000 - -
1916-D 30 30 90 100 125 175 2000 -
1916-S 20 40 75 125 150 200 2000 22000
1917 8 10 15 25 50 80 500 -
1917-D 40 60 100 200 300 400 2500 -
1917-S 40 100 125 250 400 500 5000 -
1918 7 12 25 40 60 100 1200 -
1918-D 45 125 225 325 400 500 4250 45000
1918/7-D 2000 5000 9000 12000 22000 35000 265000 -
1918-S 30 80 150 250 400 500 - -
1883-1912 LIberty Head nICkeLs 1919 5 8 15 25 50 75 500 -
VG10 VF20 XF40 AU50 MS60 MS65 MS66 MS67 1919-D 30 100 250 350 450 650 6500 -
1883 (with cents) 35 55 80 125 175 675 1500 15000 1919-S 30 100 250 375 450 625 15000 -
1884 35 60 100 125 200 1750 3500 14000 1920 2.50 6 15 25 35 65 800 10000
1885 750 1000 1500 1750 2500 12000 20000 95000 1920-D 25 100 275 400 450 600 6250 -
1886 425 550 700 850 1250 7250 28000 - 1920-S 20 100 225 300 450 600 - -
1887 25 40 75 100 150 1000 3500 - 1921 8 20 40 80 100 125 800 -
1888 50 100 175 225 300 1250 7250 - 1921-S 100 300 700 1250 1500 1800 7500 -
1889 25 50 80 125 150 850 3500 9500 1923 2.50 8 15 35 45 60 625 7750
1890 20 40 75 100 175 1250 3750 - 1923-S 15 100 275 325 425 625 10250 -
1891 15 40 75 100 150 1250 2500 - 1924 2.50 10 25 40 50 75 750 16000
1892 15 40 75 100 150 1000 3500 - 1924-D 20 100 225 325 400 525 5000 -
1893 15 40 75 100 150 1000 3500 12500 1924-S 50 400 1250 1750 2000 2500 12000 70000
1894 40 150 225 300 375 1500 2500 9500 1925 2.50 8 20 25 35 45 400 10000

34 coinagemag.com
The COINage PrICe guIde september 2018
1913-1938 IndIan Head buFFaLo nICkeLs 1892-1916 barber dImes
VG10 VF20 XF40 AU50 AU55 MS60 MS65 MS67 G04 VG10 F15 VF20 XF40 AU50 MS60 MS65
1925-D 30 100 150 250 300 400 5000 - 1897-S 20 80 125 150 200 250 500 3500
1925-S 12 80 150 250 300 400 - - 1898 4 6 12 15 30 60 150 600
1926 2.50 5 12 20 25 35 225 3250 1898-O 12 80 125 150 250 300 500 3250
1926-D 20 100 200 250 300 400 4500 - 1898-S 8 30 45 50 80 150 400 3500
1926-S 60 400 875 2500 3500 5000 100000 - 1899 4 7 12 15 25 60 125 600
1927 2.50 5 12 20 25 35 275 6000
1899-O 10 50 100 125 175 250 400 4250
1927-D 5 20 60 120 130 150 7000 -
1899-S 8 20 35 40 50 100 300 2750
1927-S 5 35 100 200 325 625 20000 -
1900 4 7 10 12 25 60 125 650
1928 2.50 5 15 20 25 35 325 7750
1900-O 20 90 150 175 250 400 600 5000
1928-D 2.50 12 45 50 55 60 725 18000
1900-S 4 8 15 20 30 75 150 1650
1928-S 2.50 12 30 100 175 225 3750 25000
1901 4 7 10 12 30 60 125 700
1929 2.50 5 12 20 25 35 325 28000
1901-O 4 12 20 30 75 200 500 4250
1929-D 2.50 5 35 45 50 65 1250 30000
1901-S 75 300 400 500 600 700 1000 4800
1929-S 5 12 35 45 55 65 325 -
1902 4 7 8 10 25 60 125 600
1930 2.50 5 10 20 25 30 225 -
1902-O 4 12 25 40 75 150 400 4500
1930-S 2.50 5 12 30 45 60 425 -
1902-S 8 45 80 125 150 200 400 3500
1931-S 18 20 35 50 60 65 325 32000
1934 2.50 5 12 18 25 45 300 4250 1903 4 7 8 10 30 60 125 1000

1934-D 2.50 10 20 25 50 60 225 4250 1903-O 4 12 20 25 60 100 250 4500

1935 2.50 5 8 10 12 20 125 1750 1903-S 80 300 400 500 700 800 1250 2800

1935 (double die reverse) 90 200 800 1500 2500 5000 - - 1904 4 7 8 10 30 60 125 1300

1935-D 2.50 10 20 40 50 65 400 6000 1904-S 40 150 225 250 350 500 750 4500

1935-S 2.50 5 8 18 20 45 200 3750 1905 4 7 8 10 30 60 125 700

1936 2.50 5 8 10 15 18 75 800 1905-O (large O) 4 30 50 60 100 150 300 1500
1936-D 2.50 5 6 12 18 25 125 - 1905-O (small o) 40 60 125 175 250 400 1800 12000
1936-D (3 1/2 legs) 1600 4000 6500 - - - - - 1905-S 4 8 15 20 50 100 200 1000
1936-S 2.50 5 8 12 18 35 100 1500 1906 4 5 6 8 25 60 100 650
1937 2.50 5 8 10 12 18 60 450 1906-D 4 7 10 15 40 80 150 1500
1937-D 2.50 5 8 12 18 25 60 725 1906-O 4 35 60 80 100 125 200 1200
1937-D (3 legs) 700 900 1000 1250 1500 2250 38000 130000
1906-S 4 12 20 25 50 100 250 1250
1937-S 2 3 8 12 18 30 65 1000
1907 4 5 6 8 25 60 100 625
1938-D 4 5 6 8 12 20 55 175
1907-D 4 8 10 12 50 100 300 2250
1938-D (D over D) 6 10 12 18 20 30 90 800
1907-O 4 20 40 50 70 100 200 1250
1938-D (D over S) 6 10 20 30 35 55 150 875
1907-S 4 12 20 30 70 150 400 2200
1908 4 5 6 8 25 60 100 650
1908-D 4 5 6 10 30 60 125 900
1908-O 4 35 60 75 100 150 300 1500
1908-S 4 8 15 25 50 150 300 1800
1909 4 5 6 8 25 60 100 600
1909-D 8 45 80 125 150 250 500 2500
1909-O 4 10 20 25 50 100 200 1600
1909-S 8 75 125 150 200 300 500 2500
1892-1916 barber dImes
1910 4 5 6 10 25 60 100 600
G04 VG10 F15 VF20 XF40 AU50 MS60 MS65
1910-D 4 8 12 25 50 100 200 1500
1892 8 12 20 25 30 60 120 600
1910-S 4 35 60 75 125 225 400 2300
1892-O 12 30 50 60 80 100 150 1250
1911 4 5 6 8 25 60 100 850
1892-S 80 175 200 225 275 300 400 4000
1911-D 4 5 6 8 30 60 100 850
1893 8 15 25 30 50 75 175 1000
1911-S 4 8 12 20 40 100 200 1000
1893/2 125 175 225 250 300 400 800 5500
1912 4 5 6 8 25 60 100 650
1893-O 30 100 140 150 200 250 300 2500
1912-D 4 5 6 8 25 60 100 725
1893-S 15 30 50 75 100 150 300 3000
1912-S 4 5 10 15 40 100 150 850
1894 30 100 125 150 200 250 300 1200
1913 4 5 6 8 25 60 100 650
1894-O 80 200 250 300 450 550 1600 -
1913-S 30 80 150 200 250 300 450 1400
1895 80 300 400 450 500 600 700 2250
1895-O 425 800 1300 1500 2800 4000 5500 23000 1914 4 5 6 8 25 60 100 650

1895-S 40 125 175 200 250 300 500 6500 1914-D 4 5 6 8 25 60 100 650

1896 12 50 70 80 100 125 175 1400 1914-S 4 8 12 20 40 80 150 1200

1896-O 80 250 350 400 500 600 1000 9000 1915 4 5 6 8 25 60 100 650

1896-S 80 250 325 350 400 500 800 4000 1915-S 8 30 45 50 75 150 250 1500

1897 4 7 12 15 30 60 150 600 1916 4 5 6 8 25 60 100 650

1897-O 60 250 350 400 500 600 1000 4500 1916-S 4 5 6 8 25 60 100 650

36 coinagemag.com
The COINage PrICe guIde september 2018
1916-1945 merCury dImes
G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65
1924-S 3 4 12 60 100 200 450 1100
1925 3 4 6 10 15 30 80 200
1925-D 3 12 50 150 200 350 750 1800
1925-S 3 6 20 80 100 200 500 1500
1892-1915 barber dImes ProoFs
1926 3 4 6 8 12 25 60 225
PR61 PR62 PR63 PR64 PR65 PR66 PR67 PR68
1926-D 3 4 12 30 50 125 275 600
1892 400 450 650 975 1500 2250 4500 -
1926-S 12 20 75 300 400 1000 1800 3000
1893 450 650 975 1500 2250 4500 10500 -
1927 3 4 6 8 12 30 50 150
1894 400 450 625 950 1500 2250 4250 10750
1927-D 3 6 25 80 100 175 400 1400
1894-S 365000 500000 1200000 1850000 2350000 2900000 - -
1927-S 3 4 12 30 50 300 500 1600
1895 400 475 675 975 1750 2000 4500 12000
1928 3 4 6 8 15 30 40 125
1896 400 450 650 950 1750 2000 4500 -
1928-D 3 10 25 75 100 175 325 900
1897 400 450 650 950 1500 2000 4250 12000
1928-S (large S) 4 6 12 40 80 250 400 800
1898 400 450 625 950 1500 2000 4250 12000
1928-S (small S) 3 4 6 20 40 150 300 500
1899 400 450 625 950 1500 2000 4500 12000
1929 3 4 6 8 10 20 30 60
1900 400 450 625 950 1500 2000 4250 10750
1929-D 3 4 8 12 20 30 35 80
1901 400 450 625 950 1500 2000 4500 -
1929-S 3 4 6 8 20 30 45 125
1902 400 450 625 950 1500 2000 5000 15000
1930 3 4 6 8 15 30 45 125
1903 400 450 625 950 1500 2000 4750 14000
1930-S 3 4 6 20 50 80 125 200
1904 400 450 625 950 1500 2000 4500 10750
1931 3 4 6 15 25 40 70 130
1905 400 450 625 950 1500 2000 4250 10500
1906 400 450 625 950 1500 2250 4250 12000 1931-D 8 12 20 50 60 90 110 275

1907 400 450 625 950 1500 2250 4500 12000 1931-S 3 4 12 25 50 100 125 275

1908 400 450 625 950 1500 2000 4500 12000 1934 2 2.50 4 6 10 30 40 60

1909 400 450 625 975 1500 2000 4500 12000 1934-D 2 2.50 4 15 30 40 50 80

1910 400 450 625 950 1500 2000 4500 12500 1935 2 2.50 4 5 8 10 20 35

1911 400 450 625 950 1500 2000 4500 12500 1935-D 2 2.50 4 15 25 40 50 80

1912 400 450 625 950 1500 2000 5000 12000 1935-S 2 2.50 4 6 15 25 30 40

1913 400 450 625 950 1500 2000 4750 10750 1936 2 2.50 4 5 6 10 15 30

1914 400 450 625 975 1500 2000 5250 14000 1936-D 2 2.50 4 8 15 30 35 50

1915 400 450 625 975 1750 2500 5500 - 1936-S 2 2.50 4 6 15 25 30 40
1937 2 2.50 4 5 6 8 15 25
1937-D 2 2.50 4 5 12 25 30 45
1937-S 2 2.50 4 5 12 25 30 40
1938 2 2.50 4 5 8 12 15 30
1938-D 2 2.50 4 5 12 15 20 30
1938-S 2 2.50 4 5 12 20 25 35
1939 2 2.50 4 5 6 10 15 30
1939-D 2 2.50 4 5 6 8 12 20

1916-1945 merCury dImes 1939-S 2 2.50 4 5 15 25 30 45

1940 2 2.50 4 5 6 8 10 25
G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65
1940-D 2 2.50 4 5 6 8 12 30
1916 3 4 8 12 25 30 45 100
1940-S 2 2.50 4 5 6 8 12 30
1916-D 1000 2250 4500 6000 9000 - - -
1941 2 2.50 4 5 6 8 12 25
1916-S 3 8 15 25 30 50 60 200
1941-D 2 2.50 4 4.50 5 6 12 25
1917 3 4 6 8 15 50 60 150
1941-S (large S) 4 6 15 25 30 110 - -
1917-D 3 10 30 60 80 250 300 1000
1941-S (small S) 2 2.50 4 4.50 5 6 12 25
1917-S 3 4 8 15 30 150 175 425
1942/1 500 600 650 800 1250 3000 4500 -
1918 3 4 12 40 50 80 100 425
1942 2 2.50 4 4.50 5 6 12 25
1918-D 3 5 12 30 50 200 250 700
1942/1-D 500 600 650 800 1250 3000 5000 9000
1918-S 3 4 12 25 40 200 250 750
1919 3 4 6 12 25 150 175 350 1942-D 2 2.50 4 4.50 5 8 12 25

1919-D 3 12 30 50 80 350 425 1400 1942-S 2 2.50 4 4.50 5 8 15 25

1919-S 3 10 20 40 80 400 450 1250 1943 2 2.50 4 4.50 5 8 12 25

1920 3 4 6 8 15 60 70 250 1943-D 2 2.50 4 4.50 5 8 12 25

1920-D 3 4 10 25 50 300 325 600 1943-S 2 2.50 4 4.50 5 8 12 25

1920-S 3 5 10 20 40 250 300 1400 1944 2 2.50 4 4.50 5 8 12 25

1921 60 100 250 550 900 1200 1700 3500 1944-D 2 2.50 4 4.50 5 8 12 20

1921-D 80 150 400 600 1000 1500 2100 3200 1944-S 2 2.50 4 4.50 5 8 12 25

1923 3 4 6 8 15 30 40 100 1945 2 2.50 4 4.50 5 8 12 20

1923-S 3 6 20 80 100 175 350 1200 1945-D 2 2.50 4 4.50 5 8 12 20

1924 3 4 6 15 30 40 75 180 1945-S (large S) 2 2.50 4 4.50 5 8 12 20
1924-D 3 8 25 60 100 175 425 900 1945-S (small S) 3 4 8 12 20 30 40 100

38 coinagemag.com
 september 2018
1838-1891 seated LIberty Quarters
G04 VG10 F15 VF20 XF40 AU50 MS60 MS65
1856-O 30 35 40 45 80 175 275 4000
1856-S 25 30 50 60 100 300 925 9000
1856-S/S 60 250 300 350 1500 2250 5000 -
1857 150 350 1000 1250 2500 3500 - -
1936-1942 merCury dImes ProoFs 1857-O 30 35 40 45 75 200 300 4000

PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68 1857-S 30 35 40 45 125 400 1000 -

The COINage PrICe guIde

1936 - 500 600 750 1000 1500 2000 25000 1858 100 200 325 400 700 1250 3000 -
1858-O 25 30 40 45 75 150 300 4000
1937 - 200 300 350 400 500 750 1750
1858-S 30 35 50 60 150 400 1500 25000
1938 100 150 200 225 250 300 400 2000
1859 75 200 600 800 2750 3750 13500 -
1939 - - 150 175 200 250 400 1250
1859-O 30 35 40 45 80 200 575 7250
1940 - - - - 150 200 400 2500
1859-S 150 300 600 900 3250 9750 40000 -
1941 - 100 125 150 175 200 250 3000
1860 30 35 45 50 85 200 450 4500
1942 - - 100 125 150 200 250 1250
1860-O 30 45 60 70 125 375 950 13000
1860-S 450 1500 3000 4000 15000 25000 45000 -
1861 25 30 40 45 80 200 300 3500
1861-S 100 200 450 750 4000 9000 25000 -
1862 30 35 45 50 100 175 350 4350
1862-S 75 200 350 475 875 1500 3500 -
1863 45 60 100 150 250 375 650 4750
1864 80 125 200 225 350 450 775 5000
1864-S 450 850 1750 2250 3500 4750 12500 -
1838-1891 seated LIberty Quarters 1865 75 125 200 225 350 450 850 6750

G04 VG10 F15 VF20 XF40 AU50 MS60 MS65 1865-S 100 200 300 400 800 1250 2750 12000
1866 450 700 1000 1100 1500 1700 2250 6750
1838 30 45 75 100 375 650 1250 36500
1866-S 300 600 1200 1400 1750 2500 3750 17500
1839 30 45 75 100 375 650 1250 38000
1867 275 450 675 850 1300 1500 1900 -
1840-O (without drapery) 40 60 100 125 425 700 1250 48500
1867-S 250 650 1000 1250 3000 7000 14000 -
1840 (with drapery) 30 40 75 100 225 350 800 14500
1868 150 250 325 375 500 550 900 7250
1840-O (with drapery) 35 80 150 200 350 525 1100 17500
1868-S 100 250 375 450 775 1500 3250 15000
1841 55 75 150 175 275 400 950 11000
1869 300 500 625 700 925 1000 1750 7500
1841-O 30 40 75 85 200 325 750 10000
1869-S 100 250 400 475 850 1500 2750 15500
1842-O (large date) 80 100 275 300 400 750 1750 14500
1870 55 100 175 200 300 400 850 6500
1843 500 1500 2250 2750 4500 9000 25000 -
1870-CC 8500 16500 20000 25000 40000 55000 75000 -
1843-O 30 35 40 45 75 200 400 6750 1871 30 50 80 125 225 350 725 7500
1844 30 50 100 150 400 825 2250 - 1871-CC 3250 8750 12000 15500 26500 40000 66500 -
1844-O 30 35 40 45 100 225 450 8250 1871-S 400 675 1000 1100 1500 2750 4450 11500
1845 30 45 75 100 200 375 1250 8000 1872 30 65 80 90 175 300 600 7350
1846 30 35 40 45 100 200 500 6250 1872-CC 1250 2500 4500 6000 13000 20000 44500 -
1847 30 35 45 50 200 275 525 10000 1872-S 850 1750 2750 3250 5000 6750 8750 52500
1847-O 30 35 40 45 80 200 500 6750 1873 (closed 3) 250 500 675 800 1750 2750 7500 -

1848 35 80 150 200 500 1750 3750 - 1873 (open 3) 35 50 125 135 175 250 450 5750

1849 40 75 150 175 275 475 1000 - 1873 (with arrows) 25 30 40 60 200 425 725 4000

1849-O 30 35 50 75 150 300 700 13500 1873-CC (with arrows) 3000 8000 13000 16500 26500 47500 93500 -

1850 550 1000 1750 2250 4000 5750 10000 - 1873-S 30 60 125 175 325 525 1500 20000
1874 30 35 40 60 200 400 725 3500
1850-O 30 50 100 125 200 350 850 10500
1874-S 30 45 75 100 300 500 900 3500
1851 30 75 125 150 250 600 1500 15000
1875 25 30 35 40 60 150 250 1750
1851-O 35 100 150 200 275 400 1000 8000
1875-CC 100 225 350 450 825 1250 4000 30000
1852 200 450 750 1000 1750 3000 5750 -
1875-S 40 60 75 80 175 250 600 3250
1852-O 40 70 100 175 275 400 750 6250
1876 25 30 35 40 60 150 250 1750
1853 (recut date) 200 400 1000 1250 2750 4250 12500 -
1876-CC 50 75 100 120 150 300 550 5500
1853 350 750 1100 1250 1750 2500 3750 11000
1876-S 25 30 35 40 60 150 250 2250
1853/4 30 35 40 50 150 325 900 17000
1877 25 30 35 40 60 150 250 1750
1853-O 40 80 150 200 400 1000 2000 45000
1877-CC 50 70 90 100 150 250 450 2500
1854 30 50 75 85 300 1250 3000 25000
1877-S 25 30 35 40 60 150 250 1750
1854-O 25 30 35 40 75 250 475 9000 1877-S (S over horizontal S) 25 60 100 150 250 350 700 4250
1854-O (large O) 30 35 50 60 125 275 900 10000 1878 25 30 35 40 60 150 275 2750
1855 800 2000 3500 4250 7500 11500 - - 1878-CC 60 90 120 140 150 250 550 3500
1855-O 30 35 40 45 75 250 475 9000 1878-S 150 300 400 450 800 1000 2000 -
1855-S 40 75 200 250 475 1250 3000 - 1879 175 250 300 325 375 450 575 1750
1856 45 80 175 225 550 1250 2500 30000 1880 150 250 300 325 375 450 575 2000

39
The COINage PrICe guIde september 2018
1838-1891 seated LIberty Quarters
G04 VG10 F15 VF20 XF40 AU50 MS60 MS65

1881 200 250 300 325 400 450 550 2250

1882 225 270 300 325 400 450 600 2250
1883 225 270 300 325 400 450 600 2500
1884 225 350 500 525 550 600 725 2250 1892-1916 barber Quarters
1885 150 225 275 300 400 475 600 2750
G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65
1886 325 500 600 650 675 750 925 3250 1892 12 15 45 75 125 200 475 1250
1887 225 350 425 450 500 550 700 2500 1892-O 15 35 65 100 175 325 475 1500
1888 200 300 375 425 475 525 650 2000 1892-S 40 75 150 200 325 450 925 4500
1888-S 25 30 35 40 60 150 400 4000 1893 10 15 40 75 125 225 475 1500

1889 200 300 325 350 425 475 600 1750 1893-O 12 20 60 125 175 275 475 2000

1890 60 75 125 150 200 300 450 1750 1893-S 20 50 125 200 350 450 1000 7000
1894 12 20 50 100 150 250 475 1250
1891 25 30 35 40 60 150 250 1750
1894-O 12 35 75 150 225 350 675 2000
1891-O 175 450 650 750 1000 1250 4750 26500
1894-S 12 20 75 125 200 325 750 2500
1891-S 30 35 40 45 75 150 300 2250
1895 12 20 40 80 125 225 475 1800
1895-O 12 35 80 150 225 425 950 2500
1895-S 20 60 150 200 275 425 1000 3500
1896 12 20 50 100 150 250 500 1250
1896-O 65 150 375 650 950 1200 1850 7000
1896-S 850 2250 4000 5500 7500 10500 17500 50000
1897 12 15 35 75 125 225 475 1500
1897-O 45 125 400 450 625 850 1850 3500
1897-S 125 250 475 650 950 1425 2000 6500
1898 12 15 35 75 125 200 475 1500
1858-1891 seated LIberty Quarters ProoFs
1898-O 15 60 150 300 450 650 1675 9000
PR61 PR62 PR63 PR64 PR65 PR66 PR67 PR68 1898-S 12 30 75 100 225 425 1550 7000
1858 1250 1500 1750 3000 8000 25000 58000 - 1899 12 15 35 75 125 200 475 1250
1859 775 1000 1500 2500 5000 9500 25000 - 1899-O 15 30 75 150 300 425 775 3000
1860 725 975 1500 2500 5000 9250 28000 55000 1899-S 25 65 100 150 275 425 1550 4000

1861 700 975 1500 2500 5000 9500 28000 - 1900 12 18 40 75 150 275 475 1250

1862 700 950 1500 2500 5000 9500 28000 - 1900-O 15 50 125 175 350 575 875 3750
1900-S 12 20 50 80 150 400 1100 5000
1863 700 925 1500 2500 5000 9500 28000 -
1901 30 45 75 90 125 200 475 1500
1864 725 950 1500 2500 5000 9500 22000 48000
1901-O 75 175 400 650 875 1000 2000 5500
1865 700 950 1500 2500 5000 10000 25000 40000
1901-S 5500 15000 28000 32250 40250 43500 50500 75000
1866 500 700 1000 1500 2750 4250 7750 -
1902 7 15 30 75 125 200 475 1225
1867 525 700 1000 1500 2500 4000 7000 - 1902-O 10 25 85 150 225 475 1300 4150
1868 500 700 1000 1500 3250 15500 - - 1902-S 15 35 90 175 250 525 975 3525
1869 525 700 1000 1500 3000 4750 8250 - 1903 8 15 35 75 125 200 475 2150
1870 500 675 1000 1500 3000 4500 7250 - 1903-O 10 25 60 150 250 425 1150 4850

1871 475 675 1000 1500 2750 3750 7500 - 1903-S 15 35 90 150 275 450 850 2400

1872 475 675 1000 1500 2750 3750 7500 25000 1904 8 15 30 75 125 200 475 1225
1904-O 30 50 150 225 450 825 1300 2625
1873 (closed 3) 475 675 1000 1500 2750 3750 7000 25000
1905 30 45 65 95 125 200 475 1425
1873 (with arrows) 825 1000 1750 3500 8000 12000 35000 50000
1905-O 45 100 250 275 375 475 1300 7100
1874 850 1000 1750 3500 8000 12000 28000 55000
1905-S 35 65 105 125 200 350 1000 3650
1875 450 650 1000 1250 2250 3750 7000 15000
1906 8 15 35 75 125 200 475 1150
1876 475 625 1000 1250 2250 3750 6750 -
1906-D 8 15 40 75 150 225 475 1650
1877 475 650 1000 1250 2250 3500 6500 - 1906-O 10 25 60 100 200 325 550 1225
1878 475 625 1000 1250 2250 3500 6750 - 1907 7 12 35 75 125 200 475 1225
1879 475 625 1000 1250 2250 3500 7500 - 1907-D 8 15 50 100 175 250 750 2625
1880 475 625 1000 1250 2250 3250 6000 18000 1907-O 10 18 40 75 125 200 475 2025

1881 475 625 1000 1250 2250 3250 6000 18000 1907-S 12 25 70 125 275 475 1000 5275

1882 475 650 1000 1250 2250 3250 6000 18000 1908 8 15 30 75 125 200 450 1225
1908-D 7 12 35 75 125 250 475 1225
1883 475 625 1000 1250 2250 3250 6000 18000
1908-O 8 15 40 75 125 200 475 1225
1884 475 625 1000 1250 2250 3250 6000 18000
1908-S 25 75 150 300 500 750 1300 4425
1885 475 625 1000 1250 2250 3250 5750 15000
1909 8 15 30 75 125 200 475 1125
1886 475 625 1000 1250 2250 3250 6000 18000
1909-D 8 15 40 80 150 200 475 1225
1887 475 625 1000 1250 2250 3250 5750 18000
1909-O 50 250 525 700 1000 1500 2325 8500
1888 475 625 1000 1250 2250 3250 6000 18000 1909-S 7 12 50 100 200 300 675 2200
1889 475 625 1000 1250 2250 3250 5750 18000 1910 7 20 35 75 125 200 450 1225
1890 475 625 1000 1250 2250 3250 5750 18000 1910-D 8 25 70 125 250 350 925 1800
1891 475 625 1000 1250 2250 3250 5750 18000 1911 7 15 35 75 125 200 475 1225

40 coinagemag.com
 september 2018
1892-1916 barber Quarters 1916-1930 standIng LIberty Quarters
G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65 G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65

1911-D 30 100 325 500 700 950 1200 6000 1917 (stars below eagle) 30 45 70 100 150 200 325 700

1911-S 12 30 100 175 275 400 725 1500 1917-D (stars below eagle) 35 50 125 175 225 275 450 1500

1912 7 15 35 50 125 220 475 1250 1917-S (stars below eagle) 35 45 125 175 200 375 450 1300

1912-S 18 40 85 125 225 400 1000 1750 1918 20 25 30 40 80 125 250 800

1913 25 50 200 375 525 925 1125 4500 1918-D 30 45 80 150 200 300 450 1700

1913-D 12 20 55 100 200 275 475 1250 1918-S 20 25 30 60 100 275 300 1250

The COINage PrICe guIde

1913-S 1800 4000 8500 11250 14000 15000 20000 31500 1919 35 45 75 85 125 175 300 650

1914 8 15 30 75 125 200 475 1250 1919-D 75 100 425 650 800 1000 1700 3400

1914-D 8 15 30 75 125 200 475 1100 1919-S 75 100 275 500 575 725 1500 4000

1914-S 125 350 650 950 1100 1425 1500 3500 1920 15 25 40 50 90 150 300 600

1915 8 15 35 75 125 200 475 1250 1920-D 50 70 125 175 225 350 800 2000
1920-S 15 30 35 60 150 250 700 2300
1915-D 8 15 35 75 125 200 475 1250
1921 175 300 675 850 1150 1725 2200 3500
1915-S 30 55 100 100 200 300 500 1250
1923 15 20 40 50 100 150 275 600
1916 8 15 30 75 125 200 475 1250
1923-S 250 400 1000 1600 2100 2750 3000 4600
1916-D 8 15 30 75 125 200 475 1250
1924 15 25 35 50 100 200 275 650
1924-D 50 70 125 200 250 300 375 650
1924-S 25 35 60 125 225 300 1150 2000
1925 7 8 20 45 80 150 300 600
1926 8 8 12 40 80 150 275 600
1926-D 7 10 50 100 125 175 250 500
1926-S 7 10 20 100 225 350 900 2000
1927 7 9 12 40 80 125 250 500
1927-D 12 20 80 150 200 275 350 600
1892-1915 barber Quarters ProoFs
1927-S 30 80 325 975 2750 4500 7000 11250
PR61 PR63 PR64 PR65 PR66 PR67 PR68 PR69
1928 7 10 12 30 80 150 250 500
1892 475 875 1250 2000 3000 5000 14000 40000
1928-D 7 10 12 30 80 150 250 525
1893 475 875 1250 2000 3000 5000 15000 35000
1928-S 7 10 12 30 80 150 250 500
1894 475 875 1250 2000 3000 5750 15000 40000
1929 7 10 12 30 80 150 250 500
1895 465 925 1250 2000 3000 5500 15000 -
1929-D 7 10 12 30 80 150 250 500
1896 475 925 1250 2000 3250 5500 14000 32000
1929-S 7 10 12 30 80 150 250 500
1897 475 875 1250 2000 3000 5250 14000 - 1930 7 10 12 30 80 150 250 500
1898 475 900 1250 2000 3000 5250 12000 32000 1930-S 7 8 12 35 80 150 250 500
1899 475 875 1250 2000 3000 5000 12000 -
1900 475 875 1250 2000 3000 5250 15000 -
1901 475 875 1250 2000 3000 5500 12000 -
1902 475 875 1250 2000 3000 5500 14000 -
1903 475 875 1250 2000 3000 5000 12000 -
1904 475 875 1250 2000 3000 5000 12000 40000
1905 475 875 1250 2000 3000 5000 15000 -
1906 475 875 1250 2000 3000 5000 14000 -
1907 475 875 1250 2000 3000 5000 14000 -
1908 475 875 1250 2000 3000 5000 14000 30000 1839-1891 seated LIberty HaLF doLLars
1909 475 875 1250 2000 3000 5250 14000 - G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67
1910 475 875 1250 2000 3000 5000 14000 - 1839 40 65 175 300 450 1250 18500 -
1911 475 875 1250 2000 3000 5000 14000 - 1840 (small letters) 45 75 150 300 375 900 10000 -
1912 475 875 1250 2000 3000 5250 15000 60000 1840 (medium letters) 200 350 650 1400 1750 4500 25000 -
1913 475 875 1250 2250 3000 5750 14000 30000 1840-O 50 60 150 325 450 900 - -
1914 475 900 1250 2500 3000 5500 14000 - 1841 50 75 200 350 450 1500 18000 -
1915 475 900 1250 2500 5000 10000 20000 - 1841-O 40 65 150 325 450 1250 28000 -
1842 (medium date) 30 55 100 150 300 800 8000 -
1842-O (small date) 800 1250 2500 4750 7500 18000 - -
1842-O (medium date) 30 50 75 225 375 1250 25000 40000
1843 30 50 65 175 250 650 15000 45000
1843-O 30 50 75 225 350 825 22000 -
1844 30 50 75 175 275 650 5000 -
1844-O 30 60 100 250 300 950 - -
1844-O (double date) 500 1000 1750 3500 8000 - - -
1845 40 75 175 300 475 1000 - -
1916-1930 standIng LIberty Quarters 1845-O 40 55 125 275 375 825 9750 -
G04 VG10 VF20 XF40 AU50 MS60 MS63 MS65 1845-O (missing drapery) 50 90 200 600 800 - - -
1916 3000 6500 9500 10000 11750 14000 20250 27250 1846 (medium date) 30 55 85 200 300 700 12500 -
1917 (no stars below eagle) 30 60 100 125 200 250 300 800 1846 (large date) 40 60 150 400 500 800 - -
1917-D (no stars below eagle) 30 80 125 200 250 325 400 1200 1846-O (medium date) 30 50 80 200 300 1250 - -
1917-S (no stars below eagle) 30 80 150 250 300 375 450 1400 1846-O (large date) 250 450 900 2000 2750 8500 - -

41
The COINage PrICe guIde september 2018
1839-1891 seated LIberty HaLF doLLars 1839-1891 seated LIberty HaLF doLLars
G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67 G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67
1846 (over horizontal 6) 150 275 500 800 1500 6000 - - 1872-S 35 65 175 375 450 1500 25000 38000
1847 30 50 75 175 250 700 8500 30000 1873 (closed 3) 40 65 125 225 325 775 7500 -
1847-O 30 50 80 250 350 850 18000 - 1873 (open 3) 3250 4500 6750 9500 12500 28000 - -
1847/6 2500 4000 8000 12000 - - - - 1873-CC 400 625 1750 3000 5000 12000 78000 125000
1848 50 80 200 350 525 1000 9000 - 1873 (with arrows) 40 65 125 275 450 975 18000 -
1848-O 35 60 100 300 375 975 15000 - 1873-CC (with arrows) 350 450 1250 2500 3750 8500 55000 -
1849 40 60 100 225 475 925 - - 1873-S (with arrows) 75 150 275 575 950 2750 52500 -
1849-O 40 60 100 275 475 1000 22500 - 1874 40 75 125 275 450 975 18000 70000
1850 225 375 700 850 1000 2000 25000 - 1874-CC 1250 2000 3250 5500 7750 17250 95000 -
1850-O 30 55 100 200 300 800 14000 - 1874-S 50 75 250 475 775 2000 25000 -
1851 350 500 1000 1500 1750 3250 14000 - 1875 30 50 75 125 200 450 4750 18000
1851-O 40 75 200 300 400 1000 15000 - 1875-CC 65 125 250 400 600 1750 10000 -
1852 500 750 1000 1250 1500 2500 9500 32000 1875-S 30 50 75 150 225 425 4500 25000
1852-O 75 200 675 1000 1750 3750 30000 - 1876 30 50 75 125 200 450 4500 16500
1853 40 55 125 300 575 1500 25000 95000 1876-CC 70 125 225 325 525 1250 7000 32000
1853-O 50 75 175 400 825 3000 50000 - 1876-S 30 50 75 150 225 475 4500 -
1854 40 60 80 175 325 675 8750 55000 1877 30 50 75 125 200 425 4500 15000
1854-O 40 60 100 200 350 725 9250 55000 1877-CC 50 95 150 275 525 1000 6250 32000
1855 40 55 85 200 350 700 12000 - 1877-S 20 35 75 150 225 500 4500 15000
1855/4 80 150 300 500 600 2000 - - 1878 35 55 90 150 250 525 5000 -
1855-O 40 55 90 175 350 700 8750 50000 1878-CC 1000 1750 3000 4000 6500 12000 72500 -
1855-S 500 700 2250 4500 7250 25000 65000 150000 1878-S 35000 45000 65000 87500 92500 115000 300000 -
1856 30 55 75 150 250 575 6500 - 1879 400 475 550 725 750 950 4500 18000
1856-O 30 55 85 175 275 575 7750 - 1880 350 425 550 725 750 1000 4500 16500
1856-S 65 150 525 1000 2000 5250 - - 1881 400 475 550 650 700 900 4500 18000
1857 30 55 75 150 225 525 5500 - 1882 450 525 700 900 925 1000 4750 16500
1857-O 40 60 100 250 325 1250 18000 - 1883 375 525 675 800 850 1000 4500 22500
1857-S 75 150 500 1250 2000 5500 50000 - 1884 475 600 650 775 825 1000 4500 20000
1858 25 50 80 150 225 550 5750 - 1885 500 625 675 800 825 975 5250 20000
1858-O 35 60 90 175 225 550 9500 - 1886 525 625 700 825 875 1000 4500 20000
1858-S 45 75 175 375 500 1500 20000 - 1887 575 675 750 975 1000 1250 5000 18000
1859 40 55 80 175 275 550 5500 30000 1888 400 475 600 750 775 925 4250 15500
1859-O 30 55 85 150 250 550 7500 45000 1889 375 450 575 725 750 1000 4250 -
1859-S 40 75 150 300 400 1250 16000 75000 1890 375 475 550 700 800 1000 4500 22500
1860 35 55 85 175 300 675 7250 60000 1891 50 100 150 200 300 600 4500 40000
1860-O 30 50 100 200 275 575 5750 -
1860-S 40 70 125 250 375 1500 - -
1861 25 50 75 175 250 550 5250 30000
1861-O 35 55 100 200 325 600 6250 -
1861-S 40 65 125 275 400 1250 14000 -
1862 50 70 150 250 425 700 7000 40000
1862-S 40 65 100 275 350 750 12500 -
1863 45 70 100 275 350 800 7000 30000
1863-S 40 60 100 225 300 725 18000 -
1864 45 75 300 400 575 1000 10000 45000 1858-1891 seated LIberty HaLF doLLars ProoFs
1864-S 45 100 225 400 625 1250 16000 85000 PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68
1865 50 80 200 375 525 1000 9000 35000 1858 1000 1250 2250 4750 8750 22000 40000 -
1865-S 45 75 200 400 650 1500 95000 - 1859 725 825 1750 4000 7250 16000 30000 -
1866-S (without motto) 525 850 1500 2500 4000 8500 88000 200000 1860 700 800 1750 3500 7000 12500 35000 -
1866 (with motto) 30 55 100 250 300 675 7000 35000 1861 675 800 2000 3500 7000 12500 35000 -
1866-S (with motto) 35 55 100 250 375 775 12500 - 1862 675 800 2000 3500 7000 12750 25000 -
1867 40 75 175 300 350 900 10000 32500 1863 675 775 1750 3500 7000 15000 25000 50000
1867-S 35 55 100 250 325 1250 14000 - 1864 675 750 2000 3500 7000 14000 - -
1868 50 100 200 325 525 975 6750 - 1865 675 750 2000 3500 7000 18000 35000 -
1868-S 35 55 100 225 300 650 10500 - 1866 (with motto) 650 725 1500 2250 4500 7500 14000 28000
1869 30 50 75 175 275 575 8000 - 1867 650 725 1500 2250 4500 8500 14500 -
1869-S 35 55 100 250 400 1250 6500 25000 1868 650 725 1500 2250 4750 7000 14250 50000
1870 30 55 100 200 250 650 6750 22000 1869 675 750 1500 2250 4250 5750 14000 28500
1870-CC 1750 3500 7000 15000 30000 95000 - - 1870 650 725 1500 2000 4750 6250 22000 -
1870-S 35 60 150 375 475 1000 20000 - 1871 650 725 1500 2250 4500 6250 12500 30000
1871 30 50 75 150 225 625 5750 - 1872 675 750 1500 2250 4500 7000 - -
1871-CC 475 775 1500 3500 5750 20000 - - 1873 (closed 3) 650 725 1500 2250 4500 8000 15000 -
1871-S 30 50 75 150 300 700 8000 - 1873 (with arrows) 1000 1250 2750 4250 12000 32500 52500 -
1872 30 50 75 175 275 600 6500 - 1874 1000 1250 2500 4500 12000 28000 40000 -
1872-CC 225 350 1250 2500 4750 25000 - - 1875 575 675 1500 2000 4000 5750 14000 28000

42 coinagemag.com
 september 2018
1858-1891 seated LIberty HaLF doLLars ProoFs 1892-1915 barber HaLF doLLars
PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68 G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67
1876 575 700 1500 2000 4000 7500 15000 - 1904-O 25 50 325 550 675 1500 14000 -
1877 575 700 1500 2250 4250 9000 - - 1904-S 50 200 1250 3250 5250 12000 50000 160000
1878 575 675 1500 2000 3750 5500 14000 35000 1905 25 50 200 300 425 675 6000 20000
1879 600 700 1500 2000 3750 5500 12500 38000 1905-O 30 75 250 425 500 900 4750 25000
1880 575 675 1500 2250 3750 5500 25000 - 1905-S 20 50 175 350 400 725 8500 25000
1881 575 675 1500 2000 3750 5500 12000 - 1906 18 30 100 225 375 550 3250 18000

The COINage PrICe guIde

1882 575 700 1500 2250 3750 5500 12000 18000 1906-D 18 30 100 225 375 575 3500 28000
1883 575 675 1500 2000 3750 5500 12000 30000 1906-O 20 40 125 225 400 650 6250 30000
1884 575 675 1500 2000 3750 5500 12500 42500 1906-S 18 40 150 275 425 650 5250 20000
1885 575 700 1500 2000 3750 5500 15000 32500 1907 15 25 100 225 375 525 3250 -
1886 575 675 1500 2000 4000 5500 14000 28000 1907-D 18 30 100 225 375 575 3250 20000
1887 575 675 1500 2000 4000 5500 14500 - 1907-O 18 30 100 250 375 600 3250 25000
1888 575 675 1500 2000 3750 5500 12750 28000 1907-S 30 50 225 650 925 1750 12250 32000
1889 575 700 1500 2000 3750 5500 14500 - 1908 15 25 100 200 375 525 3500 18000
1890 575 675 1500 2000 4000 5500 12250 28000 1908-D 18 30 100 225 375 550 3250 15000
1891 575 675 1500 2000 3750 5500 12250 - 1908-O 18 30 100 225 400 575 3250 18000
1908-S 30 50 175 425 525 1000 6000 18500
1909 15 30 100 200 375 525 3250 -
1909-O 20 50 200 450 700 1250 5250 25000
1909-S 18 30 125 300 450 750 4250 15000
1910 25 50 225 375 500 775 3750 -
1910-S 20 40 125 250 425 825 6500 20000
1911 15 25 100 200 375 525 3250 18000
1911-D 18 30 125 225 375 575 3250 18000
1911-S 20 40 125 250 425 725 5500 22500
1892-1915 barber HaLF doLLars 1912 15 30 100 200 375 525 3500 -
G04 VG10 VF20 XF40 AU50 MS60 MS65 MS67 1912-D 15 30 100 225 375 550 3250 -
1892 30 50 125 225 375 525 3250 18500 1912-S 18 30 125 300 400 725 4500 18000
1892-O 300 450 625 725 775 1250 5500 28000 1913 75 125 500 850 1000 1500 5500 -
1892 (micro o) 5500 10000 14000 18000 20000 28000 100000 - 1913-D 20 40 125 300 400 625 4500 -
1892-S 225 400 600 750 825 1250 5250 25000 1913-S 35 60 150 350 475 900 4500 40000
1893 25 50 150 275 375 575 4500 22000 1914 150 325 625 950 1250 2250 9750 -
1893-O 35 100 250 400 475 700 8500 - 1914-S 20 40 125 275 400 775 4500 -
1893-S 175 300 775 1000 1500 2250 22500 - 1915 100 175 400 675 900 1500 7000 -
1894 35 75 225 300 375 575 3750 38000 1915-D 18 30 100 200 375 525 3250 15000
1894-O 25 50 225 375 475 725 6500 40000 1915-S 20 30 125 225 400 575 3250 18000
1894-S 25 50 150 300 425 725 9250 35000
1895 25 50 175 275 400 650 4000 25000
1895-O 30 75 225 350 500 800 7500 48000
1895-S 35 100 275 375 450 725 7750 48000
1896 25 50 175 325 425 700 5000 30000
1896-O 50 125 500 1250 1500 4000 25000 75000
1896-S 125 225 475 1000 1250 2250 10000 58000
1897 25 50 125 250 400 575 3500 30000
1897-O 150 275 875 1250 1500 2500 9500 45000
1897-S 150 250 650 1000 1250 2500 8250 38000 1892-1915 barber HaLF doLLars ProoFs
1898 20 35 125 250 400 625 3750 58000 PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68
1898-O 40 125 500 750 900 1250 9000 50000 1892 600 675 1250 2000 3750 5250 8750 16000
1898-S 30 75 175 450 475 1250 12000 - 1893 600 675 1250 2000 3750 5250 8750 22500
1899 18 30 125 225 375 575 3750 32000 1894 600 675 1250 2000 3750 5250 9000 23000
1899-O 25 50 175 325 450 750 8000 32000 1895 600 675 1250 2000 3750 5250 9000 20000
1899-S 25 50 150 300 425 800 6250 18000 1896 600 675 1250 2000 3750 5250 9500 20000
1900 18 25 100 225 375 525 3750 28000 1897 600 675 1250 2000 3750 5250 9500 18500
1900-O 25 50 175 375 525 975 15000 - 1898 600 675 1250 2000 3750 5250 8750 18000
1900-S 20 35 125 225 375 700 8750 32500 1899 600 675 1250 2000 3750 5250 9000 20000
1901 15 30 100 225 375 600 4250 28000 1900 600 675 1250 2000 3750 5250 9000 18000
1901-O 25 50 250 525 725 1500 15000 - 1901 600 675 1250 2000 3750 5000 8750 18000
1901-S 40 125 450 1000 1500 2750 18000 42000 1902 600 675 1250 2000 3750 5000 8750 20000
1902 15 30 100 225 375 600 4000 25000 1903 600 675 1250 2000 3500 5000 8750 16000
1902-O 20 50 150 375 450 875 9500 30000 1904 600 675 1250 2000 3500 5000 8750 20000
1902-S 20 50 200 425 525 975 8750 28000 1905 600 675 1250 2000 3500 5000 8750 20000
1903 18 30 100 225 375 625 9000 - 1906 600 675 1250 2000 3500 5000 8750 20000
1903-O 20 40 175 350 425 775 8000 42000 1907 600 675 1250 2000 3500 5000 8750 20000
1903-S 20 40 150 300 450 900 5750 25000 1908 600 675 1250 2000 3500 5000 8750 16000
1904 15 30 100 225 375 600 5000 - 1909 600 675 1250 2000 3500 5000 8750 16000

43
The COINage PrICe guIde september 2018
1892-1915 barber HaLF doLLars ProoFs 1916-1947 WaLkIng LIberty HaLF doLLars
PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68 VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS67
1910 600 675 1250 2000 3500 5000 9250 20500 1942 - 15 18 20 35 50 150 -
1911 600 675 1250 2000 3750 5000 9500 18000 1942-D - 15 18 20 35 75 250 -
1912 600 675 1250 2000 3750 5250 9500 20000 1942-S - 15 18 20 35 75 450 -
1913 600 675 1250 2000 3750 5250 8750 16000 1943 - 15 18 20 35 50 150 -
1914 600 700 1250 2000 4250 6250 10000 22000 1943-D - 15 18 20 40 70 225 -
1915 500 600 1250 2250 4500 6500 10000 22000 1943-S - 15 18 20 35 70 300 -
1944 - 15 18 20 35 50 150 -
1944-D - 15 18 20 35 50 150 -
1944-S - 15 18 20 35 70 450 -
1945 - 15 18 20 35 50 140 -
1945-D - 15 18 20 35 50 140 -
1945-S - 15 18 20 35 50 140 -
1946 - 15 18 20 35 50 140 -
1946-D - - 15 25 35 70 140 -
1946-S - 15 18 20 35 70 140 -
1916-1947 WaLkIng LIberty HaLF doLLars 1947 - 15 18 20 35 75 175 -
VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS67 1947-D - 15 18 20 35 50 150 -
1916 75 150 250 300 400 625 2250 20000
1916-D 75 150 250 300 400 750 2500 17500
1916-S 175 500 700 875 1500 2500 7000 45000
1917 20 25 60 90 150 225 1250 18750
1917-D (obverse mint mark) 50 175 275 400 700 1500 8250 -
1917-D (reverse mint mark) 25 125 200 350 1000 2500 15000 55000
1917-S (obverse mint mark) 75 400 600 1000 2500 5000 22500 150000
1917-S (reverse mint mark) 20 40 85 200 575 2000 14500 45000
1918 20 60 175 275 575 1250 4000 -
1918-D 25 125 300 550 1500 3250 25000 - 1936-1942 WaLkIng LIberty HaLF doLLars ProoFs
1918-S 20 45 100 225 600 2000 18000 - PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68
1919 50 300 600 925 1750 3750 8500 35000 1936 1000 1750 2500 2750 3500 5000 15000 90000
1919-D 50 400 1000 2000 6250 15000 150000 - 1937 425 450 650 775 950 1250 2000 18000
1919-S 40 300 1000 1500 3000 9000 - - 1938 400 425 525 650 825 1000 1500 12000
1920 20 30 100 150 400 700 4500 - 1939 350 375 475 600 750 825 1250 6750
1920-D 35 225 400 750 2750 5250 15000 - 1940 300 325 450 550 625 725 1000 4500
1920-S 25 125 225 500 1000 3000 17750 - 1941 250 300 425 475 625 700 1000 6500
1921 175 750 1500 2750 4000 7000 17750 - 1942 250 300 425 500 625 700 1000 5250
1921-D 200 1000 2500 4000 5500 10500 40000 -
1921-S 125 1000 2750 7000 10000 17250 100000 -
1923-S 25 100 500 800 1750 3500 - -
1927-S 20 50 200 400 1250 2000 8500 -
1928-S 20 80 200 400 1250 2500 9750 -
1929-D 15 40 100 200 400 700 3250 -
1929-S 15 30 100 200 500 1000 3250 -
1933-S 15 25 80 250 600 1100 3750 -
1934 15 20 25 30 60 100 525 -
1934-D 15 20 30 80 175 225 1500 - 1795-1803 draPed bust doLLars
1934-S 15 20 30 80 300 800 3600 - G04 VG10 VF20 XF40 AU50 AU55 MS63 MS65
1935 15 20 25 30 50 75 325 - 1795 2000 4000 6000 10000 15000 25000 150000 400000
1935-D 15 20 30 60 150 300 2250 - 1796 (small date, small letters) 2500 3000 6000 12000 15000 25000 - -
1935-S 15 20 30 100 250 400 2750 - 1796 (large date, small letters) 2500 3000 6000 12000 15000 25000 - -
1936 15 20 25 30 60 75 250 - 1796 (small date, large letters) 2500 3000 6000 12000 15000 25000 - -
1936-D 15 20 25 40 80 110 575 - 1797 (9x7, small letters) 1750 3000 10000 20000 35000 55000 - -
1936-S 15 20 25 50 150 225 1250 - 1797 (9x7, large letters) 1750 2500 6000 12500 17500 30000 - -
1937 15 20 25 30 50 75 250 - 1797 (10x6) 1750 2500 6000 12500 17500 25000 275000 -
1937-D 15 20 30 80 150 275 800 - 1798 (13 stars, small eagle) 1750 2500 6000 15000 35000 50000 - -
1937-S 15 20 25 60 125 200 700 - 1798 (15 stars, small eagle) 2000 3000 7500 15000 35000 50000 - -
1938 15 20 25 40 80 150 450 - 1798 (lg eagle, knobbed 9) 1000 1250 3000 5000 8500 12500 - -
1938-D 75 125 150 200 500 600 1500 - 1798 (lg eagle, knob 9, 10 arr) 1000 1250 3000 5000 8500 12500 - -
1939 15 20 25 30 40 75 175 - 1798 (lg eagle, point 9, arr) 1000 1250 3000 5000 8500 12500 - -
1939-D 15 20 25 30 40 75 175 - 1798 (lg eagle, point 9, berries) 1000 1250 3000 5000 8500 12500 - -
1939-S 15 20 25 50 150 200 350 - 1799/8 (13 stars on back) 1000 1250 3000 4500 7500 12500 - -
1940 - 15 18 20 40 50 175 - 1799/8 (15 stars on back) 1000 1250 3000 4500 7500 12500 - -
1940-S - 15 18 20 40 75 350 - 1799 (odd date, 13 stars on back)1000 1250 3000 5000 7500 10000 - -
1941 - 15 18 20 40 50 150 - 1799 (odd date, 15 stars on back)1000 1250 3000 5000 7500 10000 - -
1941-D - 15 18 20 40 70 150 - 1799 (normal date) 1000 1250 3000 5000 7500 10000 - -
1941-S - - 15 25 80 150 900 - 1800 875 1250 2500 4500 8250 12000 - -

44 coinagemag.com
 september 2018
1795-1803 draPed bust doLLars 1840-1873 seated LIberty doLLars
G04 VG10 VF20 XF40 AU50 AU55 MS63 MS65 G04 VG10 F15 VF20 XF40 AU50 MS60 MS63
1800 (wide date) 875 1250 2500 4500 8250 12000 - - 1873 325 375 400 425 575 1000 2250 4750
1800 AMERICAI (back) 875 1250 2500 4500 8250 12000 - - 1873-CC 4750 8250 15000 18000 27250 40000 112000 175000
1800 AMERICAI (back, wide date) 875 1250 2500 4500 8250 12000 - -
1800 (12 arrows) 875 1250 2500 4500 8250 12000 - -
1800 (dotted date) 1000 1750 2800 4750 - - - -
1801 875 1250 2500 4750 8250 15000 - -

The COINage PrICe guIde

1802 (closed) 875 1250 2500 4750 7750 15000 - -
1802 (wide) 925 1500 2750 4750 9500 15000 - -
1802/1 (narrow date) 975 1500 2500 4750 8750 15000 - -
1802/1 (wide date) 975 1500 2750 5500 10750 15000 - -
1803 (large 3) 975 1500 2750 4750 8750 12000 - -
1840-1873 seated LIberty doLLars ProoFs
1803 (small 3) 975 1500 2750 4750 8750 12000 - -
PR60 PR61 PR62 PR63 PR64 PR65 PR66 PR67
1840 12000 13750 22000 30000 47500 75000 - -
1841 - - - 70000 95000 175500 - -
1842 18500 22500 30000 55000 65000 90000 - -
1843 - 25000 32500 47500 65000 - - -
1844 - - - - 90000 150000 200000 -
1845 14000 17500 30000 37500 47500 75000 135000 200000
1846 12500 15000 20000 30000 47500 150000 175000 -
1847 13750 18000 20000 25000 35000 65000 - -
1840-1873 seated LIberty doLLars 1848 13750 18000 22500 32000 42500 70000 115000 150000

G04 VG10 F15 VF20 XF40 AU50 MS60 MS63 1849 18500 22500 25000 40000 50000 90000 125000 175000
1850 13500 14500 20000 30000 35000 67500 80000 -
1840 300 375 425 450 725 1250 4250 8750
1851 restrike 22500 25000 28000 35000 48000 70000 140000 -
1841 275 325 375 425 675 975 2500 5000
1852 30000 32000 38000 42500 50000 80000 - -
1842 175 300 350 400 575 925 2250 5000
1852 restrike 28000 30000 35000 40000 55000 90000 - -
1843 175 300 350 400 575 925 2500 5000
1853 25000 32500 40000 52500 70000 130000 - -
1844 175 300 350 400 775 1500 4750 9500
1854 12500 14000 16500 20000 25000 55000 65000 -
1845 275 350 400 425 775 1750 8750 17500
1855 10000 12000 13000 18000 25000 50000 62500 -
1846 250 325 375 425 625 1000 2500 5000
1856 6250 7750 9000 12750 22000 40000 - -
1846-O 250 325 400 425 775 1500 7000 14500
1857 5000 6750 7750 12250 17500 35000 52500 -
1847 250 325 375 425 575 975 2750 5000
1858 10250 10500 12500 16000 25000 42500 52500 -
1848 325 425 550 675 1000 1750 4500 9000
1859 2750 3000 3500 5000 7500 20000 37250 65000
1849 250 325 375 425 675 1000 2500 5000
1860 2500 2750 3500 4750 7000 15500 32250 65000
1850 425 625 850 1000 1750 2750 6750 13500
1861 2500 2750 3500 5250 7000 16500 35000 78000
1850-O 300 400 550 725 1500 3250 13000 25000
1862 2500 2750 3250 4750 7250 16750 32500 65000
1851 4750 8500 12500 15000 20000 27250 40000 80000
1863 2250 2500 3500 5000 7000 18000 32000 62500
1852 4250 7000 10000 12500 17000 26750 40000 75000
1864 2500 3000 3750 5250 7500 18000 32750 57500
1853 300 400 525 625 1000 1500 3250 6250
1865 2250 3000 3500 5000 7250 17250 27500 55000
1854 975 2000 2500 2750 3750 5250 8750 17500
1866 2250 2500 3000 4000 6750 15000 25750 48000
1855 975 1500 2000 2250 3750 4750 7250 14500
1867 2250 2500 3000 4000 6500 15000 28000 48000
1856 375 475 600 725 1500 3250 4750 9500
1868 2250 2500 3250 4000 7000 15000 27500 45000
1857 350 475 600 725 1500 2750 4250 8750
1869 2250 2750 3000 4000 6750 15500 28500 48000
1859 275 375 475 500 725 1500 2750 7250
1870 2000 2500 3000 4250 6500 15500 30000 50000
1859-O 250 300 375 425 575 925 2250 5000
1871 2000 2500 3250 4250 6750 15000 26750 48250
1859-S 325 475 675 825 1750 3250 12250 27250
1872 2250 2500 3250 4250 7000 14500 28000 50000
1860 225 350 450 500 625 925 2250 5000
1873 2250 2500 3250 4250 7000 15000 30000 -
1860-O 275 300 375 425 575 875 2000 3750
1861 650 925 1000 1250 1500 3750 4750 7250
1862 550 850 1000 1250 1500 4250 5250 7250
1863 725 850 1000 1250 1500 2000 3250 6750
1864 375 450 550 675 1000 1750 3250 8250
1865 350 425 550 625 1500 2250 3750 9500
1866 225 350 450 525 825 1250 2250 5250
1867 225 325 450 500 825 1250 2500 5750
1868 225 350 450 525 825 1250 2250 5250
1869 225 350 450 525 825 1250 2250 5250 1873-1878 trade doLLars
1870 225 300 375 425 575 1000 2000 4500 VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS67
1870-CC 675 1000 1750 2250 4000 7750 25000 40000 1873 150 225 325 400 1000 3000 10000 -
1871 250 300 375 425 575 1000 2000 4500 1873-CC 375 800 1000 1500 5000 25000 - -
1871-CC 2500 3750 5500 7000 15000 25000 75000 175000 1873-S 150 200 250 400 1000 4000 22250 -
1872 250 300 350 400 575 1000 2250 4750 1874 150 200 300 400 1000 2750 18000 -
1872-CC 1500 3500 4500 4750 8250 14500 27250 95000 1874-CC 300 525 775 900 3250 7250 42000 -
1872-S 375 550 775 925 2000 3250 12000 35000 1874-S 150 200 300 375 1000 2750 20000 -

45
The COINage PrICe guIde september 2018
1873-1878 trade doLLars 1878-1921 morgan doLLars
VG10 VF20 XF40 AU50 MS60 MS63 MS65 MS67 VG10 VF20 XF40 AU50 AU55 MS60 MS63 MS65

1875 375 475 850 1000 2500 6250 25000 70000 1881-S 35 - 40 - 45 55 75 200

1875-CC 325 500 650 875 2500 5250 40000 - 1881-CC 385 415 435 450 475 535 685 950

1875-S 150 200 300 350 1000 2500 12250 72500 1882 35 - 40 - 45 55 80 625

1875-S/CC 375 600 1000 1750 4250 20000 75000 - 1882-O 35 - 40 - 45 55 80 1725

1876 150 200 300 350 1000 2500 12000 75000 1882-O/S 675 750 850 900 950 1000 1750 -
1882-S 35 - 40 - 45 55 80 200
1876-CC 400 625 800 1500 7500 25000 82500 -
1882-CC 105 110 125 155 175 220 310 525
1876-S 150 200 300 350 1000 2500 15000 -
1883 35 - - 40 45 50 75 275
1877 150 200 300 375 1000 2500 22250 -
1883-O 35 - - 40 45 50 70 225
1877-CC 400 675 1000 1250 3250 12000 85000 -
1883-S 35 40 55 100 130 715 2875 56000
1877-S 150 200 275 375 1000 2500 14000 68000
1883-CC 105 108 125 130 155 220 265 625
1878 -CC 700 2000 4250 5750 18000 36250 150000 -
1884 35 - - 40 45 50 85 375
1878-S 150 200 275 375 1000 2500 15000 68000
1884-O - - - 40 45 50 80 200
1884-S 35 40 50 300 300 9100 38000 265000
1884-CC 150 160 165 190 200 220 265 525
1885 35 - - 40 45 50 80 200
1885-O - - 40 - 45 50 70 200
1885-S 35 50 65 105 115 265 365 2000
1885-CC 625 660 665 670 675 835 935 1250
1886 30 - 35 40 45 50 70 175
1886-O 40 45 50 80 500 1000 3475 185000

1873-1883 trade doLLars ProoFs 1886-S 60 90 125 155 250 365 585 3500
1887 35 - - 40 45 50 70 175
PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68
1887-O 35 - 40 45 60 70 250 2500
1873 2000 2250 3750 5750 15000 35000 - -
1887-S 35 - 40 45 80 145 450 2500
1874 1750 2250 3500 4750 12500 25000 38000 -
1888 35 - - 40 45 50 70 250
1875 1750 2250 3500 4750 12750 22500 38000 -
1888-O - - - 40 45 55 75 650
1876 1750 2250 3500 4750 12000 20000 - -
1888-S 130 205 210 350 450 575 975 3500
1877 1750 2250 3500 5250 12000 18500 32000 -
1889 35 - 40 45 50 55 70 400
1878 2000 2250 3500 5000 12000 20000 30000 - 1889-O 35 - 40 45 125 200 600 8000
1879 2000 2250 3500 4750 10000 14000 28000 45000 1889-S 55 70 85 120 225 285 500 2200
1880 2000 2250 3500 4750 10000 14000 28000 48000 1889-CC 715 1400 3400 7450 13000 26500 48250 350000
1881 2000 2250 3500 4750 10000 14000 28000 48000 1890 35 - - 40 45 55 75 2750
1882 2000 2250 3500 4750 10000 14000 32000 48000 1890-O 35 - 40 55 60 80 115 2925
1883 2000 2250 3500 4750 10000 14000 30000 48000 1890-S 35 - 40 45 55 70 100 1400
1890-CC 100 110 145 215 350 485 900 5800
1891 35 - 40 45 60 70 210 9400
1891-O 35 - 40 45 100 195 375 9650
1891-S 35 - 40 45 65 70 155 1975
1891-CC 100 110 145 210 300 425 775 5625
1892 45 50 55 95 150 325 550 5950
1892-O 35 - 40 75 150 325 450 8500
1892-S 40 145 335 1850 13000 46500 69000 215000
1878-1921 morgan doLLars 1892-CC 200 310 515 775 1100 1500 2200 9750

VG10 VF20 XF40 AU50 AU55 MS60 MS63 MS65 1893 240 250 300 435 550 800 1300 9600
1893-O 210 360 550 950 1500 3600 7250 200000
1878 (8 feathers) 45 50 55 75 100 150 300 1800
1893-S 3225 6175 9000 24000 50000 110000 215000 775000
1878 (7 feathers) 45 50 55 60 70 80 125 125
1893-CC 275 715 1500 2725 3500 4975 7150 73000
1878 (7/8 feathers) 45 50 55 80 100 125 300 3000
1894 1375 1675 1800 1975 2500 4125 5950 44500
1878-S 25 30 40 45 50 60 80 400
1894-O 50 55 100 285 500 1150 4225 71000
1878-CC 100 125 150 175 225 300 500 1750
1894-S 60 105 155 500 750 950 1275 7350
1879 25 30 40 45 50 60 80 800
1895-O 360 475 565 1250 7500 16000 58000 160000
1879-O 25 30 40 50 70 100 225 4000
1895-S 550 950 1400 1975 3000 4425 6825 28750
1879-S 25 30 40 50 55 60 100 400
1896 - 40 - 45 50 55 75 275
1879-S (reverse of 1878) 25 30 40 80 125 200 600 6000
1896-O - 40 50 165 800 1800 9000 175000
1879-CC 160 300 800 2250 3000 4000 8000 -
1896-S 45 60 235 875 1000 1975 4050 19750
1879-CC/CC 160 300 600 2000 2500 4000 7500 -
1897 35 - 40 45 50 55 70 375
1880 25 30 35 40 45 55 75 800 1897-O 35 40 50 105 600 950 4800 72500
1880-O 25 30 35 40 45 75 450 31750 1897-S 35 - 40 45 50 80 150 675
1880-S 25 30 35 40 45 55 70 200 1898 35 - 40 - 45 55 75 275
1880-CC (80/79, flat breast) 650 725 825 875 925 975 1500 4000 1898-O 35 - 40 - 45 50 70 200
1880-CC (8/7) 600 675 775 825 875 925 1000 2800 1898-S 45 50 55 110 200 270 515 2700
1881 35 - 40 - 45 55 85 800 1899 175 200 225 250 275 300 325 1250
1881-O - - 40 - 45 55 80 1550 1899-O 35 40 - - 45 50 80 200

46 coinagemag.com
 september 2018
1878-1921 morgan doLLars
VG10 VF20 XF40 AU50 AU55 MS60 MS63 MS65

1899-S 45 50 60 155 250 450 535 2425

1900 35 - 40 - 45 55 75 200

1900-O 35 - 40 - 45 55 75 200

1900-O/CC 45 60 100 185 200 310 835 1825

1921-1935 PeaCe doLLars
1900-S 45 50 55 85 250 350 425 1900
VG10 VF20 XF40 AU50 MS60 MS63 MS64 MS65

The COINage PrICe guIde

1901 45 55 110 375 1000 2625 18000 525000
1921 75 100 125 150 200 450 1000 2000
1901-O - - - 40 45 50 80 200
1922 - - - 30 60 110 125 150
1901-S - 40 50 210 350 550 885 3400
1922-D - - - 30 40 75 125 500
1902 - 40 - 45 55 65 135 535 1922-S - 30 30 40 60 100 200 2000
1902-O - - 40 - 45 50 70 200 1923 - - 30 75 - 100 125 150
1902-S 105 155 210 300 350 415 675 3225 1923-D - - - 40 125 200 350 1000
1903 - 50 55 60 65 70 100 350 1923-S - - - 40 60 75 400 2500

1903-O 335 385 400 415 425 475 500 665 1924 - - - - - 50 60 125

1903-S 100 215 400 1850 3000 4250 6775 12250 1924-S - - 30 40 250 500 1000 6000
1925 - - - 40 - 50 75 125
1904 35 40 - 45 50 100 275 2925
1925-S - 30 40 50 150 300 500 13000
1904-O - - 40 45 50 55 70 200
1926 - 30 - 40 50 100 125 500
1904-S 45 85 215 600 1000 1725 5025 12000
1926-D - - - 40 125 250 400 1000
1921 30 35 40 - 45 50 65 200
1926-S - - 30 50 60 150 250 1000
1921-D 30 35 40 - 45 50 80 425
1927 - - - 50 100 200 500 2250
1921-S 30 35 40 - 45 50 1000 1750 1927-D - - 50 100 250 500 1500 4000
1927-S - - 100 125 250 500 1250 8500
1928 225 - - 250 400 600 1000 4500
1928-S - 40 50 60 200 400 1000 15000
1934 - - - 60 75 200 400 750
1934-D - 40 - 50 125 400 500 1250
1934-S 40 100 150 300 1250 6000 7000 10000
1935 - - 40 50 75 125 250 750
1935-S - 40 50 100 250 400 600 1250

1878-1904 morgan doLLars ProoFs

PR60 PR61 PR62 PR63

1878 (8 feathers) 2500 2750 3000 3250

1878 (7 feathers) 2500 2750 3000 3250

1879 2000 2250 2500 2750

1880 2000 2250 2500 2750

1881 2000 2250 2500 2750

1882 2000 2250 2500 2750 1921-1922 PeaCe doLLars ProoFs

1883 2000 2250 2500 2750 PR60 PR61 PR62 PR63 PR64 PR65
1884 2000 2250 2500 2750 1921 (satin) 45000 50000 55000 60000 65000 70000
1885 2000 2250 2500 2750 1921 (matte) 45000 50000 55000 60000 65000 70000
1886 2000 2250 2500 2750 1922 (matte) 95000 100000 105000 110000 115000 120000

1887 3000 3250 3500 3750

1888 2000 2250 2500 2750

1889 2000 2250 2500 2750

1890 2000 2250 2500 2750

1891 2000 2250 2500 2750

1892 2000 2250 2500 2750

1893 2000 2250 2500 2750

1894 2500 2750 3000 3250

1895 35000 40000 45000 50000

1854-1889 IndIan Head goLd doLLars
1896 2000 2250 2500 2750 G04 VG10 F15 VF20 XF40 AU50 MS60 MS63
1854 200 275 325 350 500 600 2000 7500
1897 2000 2250 2500 2750
1855 200 275 325 350 500 600 2000 7500
1898 2000 2250 2500 2750
1855-C 700 1000 1500 1750 3750 8250 25000 110000
1899 2000 2250 2500 2750
1855-D 2500 4000 5000 5500 12000 20000 50000 90000
1900 2000 2250 2500 2750
1855-O 400 475 525 550 950 1500 8000 25000
1901 2250 2500 2750 3000
1856-S 400 700 900 925 1500 2250 7500 30000
1902 2000 2250 2500 2750 1856 (upright 5) 175 225 250 275 300 375 725 2250
1903 2000 2250 2500 2750 1856 (slanted 5) 175 200 225 250 275 300 550 1000
1904 2000 2250 2500 2750 1856-D 2000 2750 3250 3500 5500 7750 25000 80000

47
The COINage PrICe guIde september 2018
1854-1889 IndIan Head goLd doLLars 1796-1808 CaPPed bust Quarter eagLes goLd
G04 VG10 F15 VF20 XF40 AU50 MS60 MS63 G04 VG10 F15 VF20 XF40 AU50 AU55 MS60
1857 175 200 225 250 275 300 550 1000 1807 3000 4500 7500 8500 12500 15000 20000 30000
1857-C 500 800 1000 1250 1500 2750 12000 30000 1808 3000 4500 7500 8500 12500 15000 20000 30000
1857-D 500 800 1000 1500 2250 3500 10000 25000
1857-S 300 375 425 450 725 1250 5750 18000
1858 175 200 225 250 275 300 550 975
1858-D 500 800 1000 1500 2250 3500 8500 18000
1858-S 225 300 350 375 650 1250 5750 15000
1859 175 200 225 250 275 300 550 1000
1859-C 500 800 1000 1250 2000 3250 12000 30000
1859-D 500 800 1250 1500 2250 3250 8000 18000
1859-S 150 225 275 300 550 1250 5250 15000
1860 175 200 225 250 275 300 550 1250 1821-1834 CaPPed Head Quarter eagLes goLd
1860-D 900 2000 2500 2750 4000 7250 18000 45000 G04 VG10 F15 VF20 XF40 AU50 AU55 MS60
1860-S 200 275 325 350 475 750 2250 5500 1821 2000 5000 7500 8500 12750 15000 20000 30000
1861 175 200 225 250 275 300 550 975
1824/1 2000 5000 7500 8500 12750 15000 20000 30000
1861-D 8000 12000 18000 20000 30000 40000 60000 100000
1826/5 5000 8000 10500 11500 15000 25000 45000 65000
1862 175 200 225 250 275 300 550 975
1827 2000 5000 7500 8500 12750 15000 20000 30000
1863 500 800 1000 1250 2000 3250 5500 9250
1829 1000 4000 6500 7250 8750 12000 15000 20000
1864 325 400 450 475 825 1250 1750 3750
1830 1000 4000 6500 7250 8750 12000 15000 20000
1865 250 400 500 550 875 1000 2000 3750
1831 1000 4000 6500 7250 8750 12000 15000 20000
1866 175 250 300 400 475 725 1250 2000
1832 1000 4000 6500 7250 8750 12000 15000 20000
1867 200 275 400 450 500 675 1250 2000
1834 3000 6000 12000 14000 18000 30000 50000 70000
1868 125 200 250 275 425 500 975 2000
1869 200 275 325 350 450 675 1000 2250
1870 175 250 300 325 450 650 975 2000
1870-S 275 350 400 475 800 1250 2750 6500
1871 175 250 300 325 450 550 875 1750
1872 175 250 300 325 450 550 975 2250
1873 (closed 3) 275 350 400 425 725 1000 1500 4250
1873 (open 3) 175 200 225 250 275 300 500 825
1874 175 200 225 250 275 300 500 825
1875 800 2000 2500 2750 4250 5250 8000 12000
1795-1812 CaPPed bust HaLF eagLes goLd
1876 175 250 300 325 375 475 725 1250
G04 VG10 F15 VF20 XF40 AU50 MS60 MS63
1877 175 250 300 325 375 475 725 1250
1878 175 250 300 325 375 475 725 1250 1795 (small eagle) 9000 15000 20000 22250 30000 40000 65000 170000

1879 150 200 225 250 400 425 700 1250 1795 (heraldic eagle) 8000 12000 18000 20000 30000 50000 85000 165000

1880 150 200 225 250 400 425 850 1500 1796/5 9000 15000 20000 25000 40000 60000 100000 215000

1881 150 200 225 250 400 425 600 900 1797 (small eagle, 15 stars) 15000 22250 32500 40000 60000 90000 240000 -

1882 150 200 225 250 400 425 600 950 1797 (small eagle, 16 stars) 10000 18000 30000 40000 50000 75000 215000 -

1883 150 200 225 250 400 425 525 900 1797/5 (heraldic eagle) 8000 12000 20000 25000 45000 70000 185000 -
1884 150 200 225 250 400 425 550 900 1798 (small 8) 1000 4000 6000 7000 12000 18000 35000 75000
1885 150 200 225 250 400 425 525 900 1798 (lg 8, 13 stars on back) 2000 3750 5000 5500 8500 15000 50000 -
1887 150 200 225 250 400 425 525 800 1798 (lg 8, 14 stars on back) 2000 3750 5000 6500 12000 25000 110000 -
1888 150 200 225 250 400 425 525 700 1799 2000 3500 4500 5250 7250 12000 25000 60000
1889 150 200 225 250 400 425 525 675 1800 2000 3500 4500 5250 6500 8000 15000 30000
1802/1 2000 3500 4500 5250 6500 8000 15000 30000
1803/2 2000 3500 4500 5250 6500 8000 15000 30000
1804 (small 8) 2000 3500 4500 5250 6500 8000 18000 30000
1804 (large 8) 2000 3500 4500 5250 6500 8000 18000 30000
1805 2000 3500 4500 5250 6500 8000 15000 30000
1806 (pointed 6) 2000 3500 4500 5250 6500 8000 15000 30000
1806 (rounded 6) 2000 3500 4500 5250 6500 8000 15000 30000
1807 2000 3500 4500 5250 6500 8000 15000 30000

1796-1808 CaPPed bust Quarter eagLes goLd 1807 (bust to left) 1750 2500 3500 4250 5250 8250 12750 25000
1808 1750 2500 3500 4250 5250 8250 12750 25000
G04 VG10 F15 VF20 XF40 AU50 AU55 MS60
1808/7 1750 2500 4000 5000 6000 8500 15000 30000
1796 (no stars on obverse) 20000 35000 50000 60000 85000 110000 150000 225000
1809/8 1750 2500 3500 4250 5250 8250 12750 25000
1796 (with stars on obverse) 15000 25000 40000 45000 65000 90000 125000 180000
1797 9000 15000 20000 25000 40000 70000 100000 145000 1810 (small date, small 5) 9000 15000 30000 40000 50000 80000 170000 -

1798 3500 6500 8750 9750 15000 30000 45000 65000 1810 (small date, large 5) 1750 2500 3500 4250 5250 8250 15000 25000

1804 (13 stars on reverse) 15000 50000 100000 140000 180000 275000 - - 1810 (large date, small 5) 15000 25000 35000 40000 70000 85000 165000 -

1804 (14 stars on reverse) 3000 4500 7500 8500 12500 15000 20000 30000 1810 (large date, large 5) 1750 2500 3500 4250 5250 8250 12750 25000

1805 3000 4500 7500 8500 12500 15000 20000 30000 1811 (small 5) 1750 2500 3500 4250 5250 8250 12750 25000
1806/4 3000 4500 7500 8500 12500 15000 20000 30000 1811 (large 5) 1750 2500 3500 4250 5250 8250 12750 25000
1806/5 7000 10000 13500 15000 18000 40000 60000 90000 1812 1750 2500 3500 4250 5250 8250 12750 25000

48 coinagemag.com
 september 2018
1813-1834 CaPPed Head HaLF eagLes goLd 1907-1933 IndIan Head eagLes goLd
G04 VG10 VF20 XF40 AU50 AU55 MS60 MS63 G04 VG10 F15 VF20 XF40 AU50 MS60 MS63

The COINage PrICe guIde

1813 1000 4000 5500 6750 9000 10000 12000 20000 1907 (wire edge, w/ periods) 8000 12000 15000 18000 20000 25000 32500 50000
1814/3 1000 4000 6000 7250 9500 15000 20000 50000
1907 (rolled edge, w/ periods) 20000 35000 45000 50000 55000 60000 100000 125000
1815 20000 75000 120000 165000 185000 275000 370000 540000
1907 (no periods) 800 875 925 950 975 1000 1250 3750
1818 1000 4000 6000 7250 10000 15000 20000 50000
1908 (no motto) 800 875 925 950 975 1000 1250 5000
1818 STATESOF (one word) 1000 4000 6000 7250 10000 15000 20000 45000
1908-D (no motto) 800 875 925 950 975 1000 1500 8000
1818 (5D over 50) 1000 4000 6000 7250 10500 15000 25000 50000
1908 (with motto) 775 800 825 850 875 900 1000 1500
1819 9000 15000 30000 45000 60000 75000 90000 -
1908-D (with motto) 775 800 900 925 950 1000 1250 7500
1819 (5D over 50) 18000 25000 32500 45000 60000 75000 90000 140000
1908-S (with motto) 750 850 900 1000 1250 1500 4000 12750
1820 (curved base, sm letters) 1000 4000 6750 10500 12750 15000 18000 40000
1909 750 825 875 900 950 1000 1250 4000
1820 (curved base, lg letters) 1000 4000 6500 8000 10000 15000 20000 40000
1820 (square base, lg letters) 1000 4000 6500 7750 9000 12000 18000 30000 1909-D 775 850 900 950 1000 1250 1500 6500

1821 8000 12000 30000 50000 60000 100000 145000 215000 1909-S 750 825 875 900 950 1000 2000 7500

1823 4000 7000 9250 14500 15000 20000 25000 50000 1910 750 825 875 900 950 975 1000 1500

1824 8000 12000 20000 30000 40000 50000 70000 125000 1910-D 750 825 875 900 950 975 1000 1500
1825/1 8000 12000 20000 30000 40000 50000 70000 125000 1910-S 800 825 875 900 950 1000 1500 10000
1826 5000 8000 14000 18000 25000 30000 40000 70000 1911 750 825 875 900 950 975 1000 1500
1827 10000 16000 20000 30000 35000 45000 60000 90000 1911-D 900 950 1000 1250 2000 2500 10000 40000
1828/7 15000 30000 60000 100000 125000 175000 250000 430000
1911-S 800 850 900 950 1000 1250 3000 12750
1829 (large date) 9000 15000 30000 70000 90000 125000 180000 335000
1912 750 825 875 900 950 975 1000 1500
1829 (small date) 15000 30000 70000 140000 165000 200000 275000 460000
1912-S 750 825 875 900 1000 1250 2000 10000
1830 (small 5D) 9000 15000 25000 35000 40000 50000 60000 90000
1913 750 825 875 900 950 975 1000 1500
1830 (large 5D) 9000 15000 25000 35000 40000 50000 60000 90000
1913-S 800 850 900 1000 1250 1500 7500 35000
1831 (small 5D) 9000 15000 25000 35000 40000 50000 60000 90000
1914 750 825 875 900 950 975 1000 2500
1831 (large 5D) 9000 15000 25000 35000 40000 50000 60000 90000
1914-D 750 825 875 900 950 975 1000 2500
1832 160000 220000 275000 375000 525000 - - -
1914-S 800 900 950 1000 1100 1250 2000 8500
1833 (large date) 9000 15000 25000 35000 40000 50000 60000 90000
1833 (small date) 9000 15000 25000 35000 40000 60000 90000 145000 1915 750 825 875 900 950 975 1000 2000

1834 (plain 4) 9000 15000 25000 35000 40000 50000 60000 90000 1915-S 850 900 950 1000 1250 1500 5000 20000

1834 (crosslet 4) 10000 18000 27500 37500 45000 65000 90000 120000 1916-S 800 825 850 900 1000 1250 2000 8000

1920-S 6000 9000 12000 15000 20000 30000 85000 125000

1926 750 825 875 900 950 975 1000 1500

1930-S 6000 9000 10000 12500 15000 25000 40000 50000

1932 750 825 875 900 950 975 1000 1500

1933 25000 40000 50000 60000 100000 150000 200000 325000

1795-1804 CaPPed bust eagLes goLd

G04 VG10 VF20 XF40 AU50 AU55 MS60 MS63

1795 (13 leaves below eagle) 20000 25000 35000 50000 60000 80000 100000 325000
1795 (9 leaves below eagle) - - - 75000 150000 175000 300000 -
1796 - - 40000 55000 60000 80000 125000 500000
1797 (small eagle) - - 50000 75000 125000 150000 250000 600000 1908-1915 IndIan Head eagLes goLd ProoFs
1797 (heraldic eagle) - - 15000 25000 32500 40000 60000 200000
PR60 PR61 PR62 PR63
1798 (9 stars left, 4 stars right) - 15000 25000 42500 50000 85000 150000 425000
1908 8000 10000 12000 15000
1798 (7 stars left, 6 stars right) - - 45000 100000 175000 225000 400000 -
1909 8000 10000 12000 15000
1799 (small stars obverse) - 7500 12500 17500 20000 22500 30000 75000
1910 10000 12000 15000 18000
1799 (large stars obverse) - 7500 12500 17500 20000 22500 30000 75000
1911 8000 10000 12000 15000
1800 - 7500 12500 15000 20000 25000 32500 85000
1801 - 7500 12500 17500 20000 22500 32500 65000 1912 8000 10000 12000 15000

1803 (small stars reverse) - 7500 12500 17500 20000 22500 30000 75000 1913 8000 10000 12000 15000

1803 (large stars reverse) - 7500 12500 17500 20000 25000 32500 75000 1914 8000 10000 12000 15000

1804 - - 30000 45000 50000 75000 100000 250000 1915 10000 12000 15000 18000

49
The COINage PrICe guIde september 2018

1907-1932 saInt gaudens doubLe eagLes goLd 1908-1915 saInt gaudens doubLe eagLes goLd ProoFs
VF20 XF40 AU50 MS60 MS63 MS65 MS67 MS68 PR60 PR61 PR63 PR64 PR65 PR66 PR67 PR68

1907 (high relief) 9250 11250 12500 17500 25000 62500 18000 38500 1908 15000 16000 32000 48000 95500 118000 200000 285000
1909 15000 18500 35000 58000 110000 135000 235000 285000
1907 (roman #'s, wire rim) 9500 10000 12000 15000 20000 - - -
1910 15000 18500 35000 56000 105000 128000 225000 280000
1907 (roman #'s, flat rim) 9500 10000 12000 15000 20000 - - -
1911 15000 16000 32000 48000 100000 118000 190000 260000
1907 (arabic #'s) - - - - 2000 - - -
1912 15000 16000 32000 48000 98000 148000 265000 -
1908 (no motto) - 1650 1700 1750 2000 2500 15000 30000
1913 15500 18500 35000 50000 100000 150000 265000 -
1908-D (no motto) - 1650 1700 1750 2000 10500 - -
1914 15500 18500 35000 53000 110000 160000 265000 -
1908 (with motto) - 1650 1700 1750 2500 17000 100000 - 1915 15500 20000 36500 57000 100000 160000 275000 -
1908-D (with motto) - 1650 1700 1750 2250 6000 110000 -
1908-S 3000 3750 5500 12000 26250 55000 185000 -
1909 - 1650 1700 1750 3000 45000 - -
1909/8 1700 1875 1900 2500 5250 47250 - -
1909-D - 1650 1825 3250 7500 46000 300000 -
1909-S - 1650 1700 1750 2250 6500 66000 -
1910 - 1650 1700 1750 2000 9500 - -
1910-D - 1650 1700 1750 2000 4000 82000 -
1910-S - 1650 1700 1750 2000 9500 67500 175000 1988-2016 goLd eagLes $5 ProoFs
1911 - 1650 1700 1750 2500 22500 185000 -
PR66 PR67 PR68 PR69 PR70
1911-D - 1650 1700 1750 2000 2750 58000 - 1988-P 125 135 150 185 325
1911-S - 1650 1700 1750 2000 5750 100000 - 1989-P 125 135 150 185 325
1912 - 1650 1700 1750 2500 28000 - - 1990-P 125 135 150 185 275

1913 - 1650 1700 1750 2750 55000 - - 1991-P 125 135 150 185 275
1992-P 125 135 150 185 275
1913-D - - 1650 1750 2000 6500 - -
1993-P 125 135 150 185 250
1913-S 1650 1750 2000 2250 5000 40000 - -
1994-W 125 135 150 185 250
1914 - 1650 1700 1750 3500 25000 - -
1995-W 125 135 150 185 250
1914-D - 1650 1700 1750 2000 3500 42500 - 1996-W 125 135 150 185 250
1914-S - 1650 1700 1750 2000 2750 58000 - 1997-W 125 135 150 185 250
1915 - 1650 1700 1750 2500 30000 - - 1998-W 125 135 150 185 300
1915-S - 1650 1700 1750 1875 3250 37500 - 1999-W 125 135 150 185 250

1916-S - 1650 1700 1750 2000 3750 35000 - 2000-W 125 135 150 185 250
2001-W 125 135 150 185 400
1920 - 1650 1700 1750 2250 85000 - -
2002-W 125 135 150 185 250
1920-S 15000 22500 31000 52000 110000 300000 - -
2003-W 125 135 150 185 300
1921 30000 45000 58000 115000 200000 690000 - -
2004-W 125 135 150 185 225
1922 - 1650 1700 1750 2000 4750 - - 2005-W 125 135 150 185 225
1922-S 1750 2000 2250 2500 5250 50000 - - 2006-W 125 135 150 185 225
1923 - 1650 1700 1750 1800 4750 - - 2007-W 125 135 150 185 250

1923-D - 1650 1700 1750 1875 2500 16000 - 2008-W 125 135 150 185 300
2010-W 125 135 150 185 250
1924 - 1650 1700 1750 1850 2500 15000 95000
2011-W 125 135 150 185 250
1924-D 1750 2500 2750 5250 8750 92500 - -
2012-W 125 135 150 185 250
1924-S 2250 2500 2750 4750 12500 215000 815000 -
2014-W 125 135 150 185 250
1925 - 1650 1700 1750 1850 2500 35000 - 2015-W 125 135 150 185 250
1925-D 2500 3000 3750 5500 14000 110000 - - 2016-W - - - 175 200
1925-S 2750 3500 5000 10500 18000 175000 375000 650000
1926 - 1650 1700 1750 1850 2500 30000 -
1926-D 8000 12000 14000 18000 25000 220000 - -
1926-S - 2250 2500 3000 6000 30000 - -
1927 - 1650 1700 1750 1850 2500 20000 -
1927-D - - 480000 650000 1550000 2000000 3250000 -
1927-S 7000 12000 15000 27500 48000 185000 360000 -
1928 - 1650 1700 1750 1850 2500 15000 -
1929 7500 12000 16000 22500 40000 92000 - - 1988-2016 goLd eagLes $10 Quarter ounCe ProoFs
1930-S 20000 32500 52500 75000 125000 220000 - - PR67 PR68 PR69 PR70
1931 12000 17000 22500 37500 78000 115000 375000 - 1988-P 300 325 475 650
1931-D 15000 18000 24000 38000 82000 138000 - - 1989-P 300 325 475 675
1932 14000 17500 22000 30000 75000 110000 - - 1990-P 300 325 475 700

50 coinagemag.com
 september 2018
1988-2016 goLd eagLes $10 Quarter ounCe ProoFs
PR67 PR68 PR69 PR70
1991-P 300 325 450 600
1992-P 300 325 475 700
1993-P 300 325 500 825
1994-W 300 325 475 650
1995-W 300 325 475 650 1986-2016 goLd eagLes $50 one ounCe ProoFs
1996-W 300 325 475 725
PR68 PR69 PR70

The COINage PrICe guIde

1997-W 300 325 475 725
1986-W 1500 1650 2250
1998-W 300 325 450 650
1987-W 1500 1650 2400
1999-W 300 325 500 750
1988-W 1500 1650 2400
2000-W 300 325 500 725
1989-W 1500 1650 2450
2001-W 300 325 500 775
1990-W 1500 1650 2500
2002-W 300 325 450 750
1991-W 1500 1750 3500
2003-W 300 325 425 600
1992-W 1500 1650 3000
2004-W 300 325 475 625
1993-W 1500 1800 4100
2005-W 300 325 475 625
1994-W 1500 1750 2500
2006-W 300 325 450 550
1995-W 1500 1650 2500
2007-W 300 325 450 550
1996-W 1500 1750 3000
2008-W 300 325 475 675
1997-W 1500 1700 2500
2010-W 300 325 475 575
1998-W 1500 1700 4000
2011-W 300 325 450 600
1999-W 1500 1800 3500
2012 300 325 450 575
2000-W 1500 1750 2500
2013 300 325 450 600
2001-W 1500 1750 3600
2014 300 325 450 575
2002-W 1500 1750 2500
2015 300 325 400 500
2003-W 1500 1750 2400
2016 - - 375 400
2004-W 1500 1750 2400
2005-W 1500 1650 2000
2006-W 1700 1750 2000
2006-W (rev) 2500 2750 4000
2007-W 1500 1650 2000
2008-W 1600 1750 2250
2010-W 1500 1650 2100
2011-W 1500 1650 2300
2012-W 1500 1650 2000
1987-2016 goLd eagLes $25 HaLF ounCe ProoFs 2013-W 1500 1650 2000

PR66 PR67 PR68 PR69 PR70 2014-W 1500 1650 2000

1987-P 575 625 700 950 1500 2015-W 1500 1650 1750

1988-P 575 625 700 975 1500 2016-W - 1250 1500

1989-P 575 625 1000 1250 4750

1990-P 575 625 1000 1250 5500
1991-P 575 625 700 950 1500
1992-P 575 625 700 975 1500
1993-P 575 625 750 1000 1500
1994-W 575 625 700 950 1500
1995-W 575 625 700 950 1250
1996-W 575 625 700 875 1000
1997-W 575 625 700 900 1500
1998-W 575 625 700 875 1250
1986-2015 sILver eagLes
1999-W 575 625 700 875 2250 MS66 MS67 MS68 MS69 MS70

2000-W 575 625 700 900 1000 1986 25 30 35 90 1300

2001-W 575 625 700 875 1000 1987 25 30 35 65 1600
2002-W 575 625 700 875 1000 1988 25 30 35 75 2500
2003-W 575 625 700 875 1000 1989 25 30 35 75 1500
2004-W 575 625 700 875 1000 1990 25 30 35 80 5750
2005-W 575 625 700 875 1000 1991 25 30 35 60 6000
2006-W 575 625 700 875 1000 1992 25 30 35 80 1900
2007-W 575 625 700 875 1000 1993 - 30 35 60 5500
2008-W 575 625 700 875 1250 1994 35 40 45 100 6000
2010-W 575 625 700 875 1000 1995 30 35 40 100 1250
2011-W 575 625 700 875 1000 1996 35 40 65 150 12250
2012-W 575 625 700 875 1000 1997 30 35 35 85 1250
2013-W 575 625 700 875 1000 1998 30 35 35 70 1900
2014-W 575 625 700 950 1000 1999 - 30 35 60 26000
2015-W 575 600 650 750 900 2000 - 30 35 55 8000
2016-W - - - 725 750 2001 - 30 35 55 1400

51
The COINage PrICe guIde september 2018
1986-2015 sILver eagLes
MS66 MS67 MS68 MS69 MS70

2002 - 30 35 50 325

2003 - 30 35 50 275

2004 - 30 35 50 275

2005 - 30 35 50 300
1997-2008 PLatInum eagLes $10
2006 - 30 35 50 125
MS68 MS69 MS70
2006-W (burnished) 30 35 40 65 250
1997 150 200 1250
2007 - 30 35 45 125
1998 150 200 2500
2007-W (burnished) 30 35 40 50 85
1999 150 200 1500
2008 - 30 35 50 90 2000 150 200 750
2008-W (reverse of 2007) 375 400 425 500 1250 2001 150 200 400
2008-W (burnished) - 35 40 50 100 2002 - 150 400
2009 25 30 35 45 85 2003 150 200 575

2010 25 30 35 45 80 2004 150 200 400

2011 25 30 35 45 80 2005 150 200 275

2006 150 200 275
2012 30 35 40 50 75
2006-W (burnished) 150 350 550
2013 30 35 40 45 75
2007 150 200 275
2014 - - 40 50 75
2007-W (burnished) 150 225 375
2015 - - 40 50 75
2008 150 225 375
2008-W (burnished) 250 325 450

1986-2015 sILver eagLes ProoFs

PR65 PR67 PR68 PR69 PR70 1997-2008 PLatInum eagLes $10 ProoFs
1986-S 30 35 40 75 450 PR68 PR69 PR70

1987-S 30 35 40 75 1000 1997-W 175 225 500

1988-S 30 35 40 75 650 1998-W 175 225 550

1999-W 175 225 350
1989-S 30 35 40 75 400
2000-W 175 225 325
1990-S 30 35 40 75 300
2001-W 175 225 400
1991-S 30 35 40 80 550
2002-W 175 225 325
1992-S 30 35 40 75 450
2003-W 175 225 375
1993-P 60 70 75 90 2500
2004-W 350 400 625
1994-P 70 75 80 175 2250 2005-W 175 225 550
1995-P 65 70 75 100 425 2006-W 175 225 300
1995-W - 4000 4250 5500 35000 2007-W 200 225 325
1996-P 30 35 40 75 425 2008-W 250 300 525

1997-P 50 60 65 100 500

1998-P 30 35 40 70 250

1999-P 30 35 40 80 425

2000-P 30 35 40 75 425

2001-W 30 35 40 70 175

2002-W 30 35 40 70 150

2003-W 30 35 40 70 100

2004-W 30 35 40 75 100

2005-W 30 35 40 70 100
1997-2008 PLatInum eagLes $25
2006-W - 35 40 65 100 MS68 MS69 MS70
1997 375 550 2500
2007-W 30 35 40 65 100
1998 375 425 2000
2008-W 30 35 40 75 100
1999 375 500 5500
2010-W 30 35 40 70 100
2000 375 425 1000
2011-W 30 35 40 75 100
2001 375 425 2250
2012 30 40 45 70 100
2002 375 425 650
2013 30 35 40 70 100 2003 375 425 600
2014 30 35 40 70 100 2004 375 425 525
2015 30 35 40 70 100 2005 375 425 550

52 coinagemag.com
 september 2018
1997-2008 PLatInum eagLes $25 1997-2008 PLatInum eagLes $50 ProoFs
MS68 MS69 MS70 PR68 PR69 PR70
2006 375 425 550 1999-W 700 900 1000
2006-W (burnished) 475 625 950 2000-W 825 900 1000
2007 375 425 525 2001-W 750 950 1250

2007-W (burnished) 375 450 625 2002-W 800 900 1000

2008 375 425 525 2003-W 800 875 1000

2004-W 1000 1250 1500
2008-W (burnished) 475 575 1000

The COINage PrICe guIde

2005-W - 1000 1250
2006-W 700 800 1000
2007-W 700 800 1000
2008-W 1000 1250 2000

1997-2008 PLatInum eagLes $25 ProoFs

PR67 PR68 PR69 PR70
1997-W - 375 450 575
1998-W - 375 500 600
1997-2015 PLatInum eagLes $100
1999-W - 375 500 525
2000-W - 375 475 525 MS68 MS69 MS70

2001-W - 375 500 575 1997 1500 2000 10500

2002-W - 375 450 525 1998 1500 1750 -

2003-W - 375 475 575 1999 1500 2000 -

2004-W 575 600 750 1000 2000 1250 1500 -

2005-W - 375 500 675 2001 1250 1750 -

2006-W - 375 500 550 2002 1250 1750 7500

2007-W - 375 475 525 2003 1250 1750 5500

2008-W - 500 600 1000 2004 1250 1750 2750

2005 1250 1750 2750
2006 1250 1500 2250
2006-W (burnished) - 1500 2500
2007 1250 1500 2250
2007-W (burnished) - 1500 2500
2008 1250 1500 2250
2008-W (burnished) 1250 1500 2500
2014-W 1250 1500 2500
2015-W - 1250 1500
1997-2008 PLatInum eagLes $50
MS67 MS68 MS69 MS70
1997 750 800 1000 4500
1998 700 725 950 12000
1999 700 750 1000 -
2000 - 700 925 -
2001 700 725 875 -
2002 - 700 850 1500
2003 - 700 800 1250
1997-2015 PLatInum eagLes $100 ProoFs
2004 - 725 800 1250
2005 - 725 800 1000 PR68 PR69 PR70

2006 - 700 775 1000 1997-W - 1500 4000

2006-W (burnished) - 775 850 1250 1998-W 1500 1750 2500

2007 - 725 775 1000 1999-W 1500 1750 2750

2007-W (burnished) - 825 975 1250 2000-W 1500 1750 2500

2008 - 700 775 1000 2001-W 1500 1750 3500

2008-W (burnished) - 1250 1500 2000 2002-W 1500 1750 2500

2003-W 1500 1750 3500
2004-W 2000 2250 3500
2005-W 2000 2500 3250
2006-W 1500 1750 2500
2007-W 1500 1750 2250
2008-W - 2000 2750
2009-W 2000 2250 2500
2010-W 1500 1750 2000
2011-W 1500 1750 2000
1997-2008 PLatInum eagLes $50 ProoFs 2012-W 1500 1750 2250
PR68 PR69 PR70 2013-W 1500 1750 2500
1997-W 700 900 1250 2014-W - 1500 2250
1998-W 700 900 1000 2015-W - 1750 2000

53
 COINAGE
CONFIDENTIAL

JOHN ALBANESE
‘Mr. Coin Industry’ presides
over billions in coins

EDITOR’S NOTE:
COINAGE CONFIDENTIAL IS A NEW COLUMN
THAT SPOTLIGHTS THE MOVERS AND SHAKERS IN
COIN COLLECTING AND SHARES THEIR INSIDER
John Albanese has handled many of the greatest coin rarities throughout his long career
VIEWS ON THE HOBBY. in the industry, the unique 1787 Brasher doubloon and an 1804 Bust dollar among them.

J
ohn Albanese is indeed “Mr. Coin Industry.” He
has been at the forefront of the coin industry’s
greatest innovations. In 1986, he was one of
the original founders of the Professional Coin
Grading Service (PCGS ). One year later, in 1987, he
formed the Numismatic Guaranty Corporation (NGC).
In 2001, he created Intercept Shield, a line of products
used to protect coins from corrosive gases. Four years
after that, in 2005, he formed the non-profit Numis-
matic Consumer Alliance (NCA) to judiciously protect
coin buyers. NCA has assisted in the recovery of more
than $10 million in coin industry abuses. In 2007,
Albanese founded the Certified Acceptance Corpora-
tion (CAC), which has rendered opinions on several
billion dollars worth of rare coins. Over the years,
Albanese has handled the greatest American rarities:
five 1838-O Bust half dollars, two 1804 Bust dollars,
five 1884 Trade dollars, an 1885 Trade dollar, three
1927-D Saint-Gaudens double eagles, two 1894-S Bar-
ber dimes, two 1913 Liberty nickels, the unique 1787
Brasher doubloon, and countless others. In 2016, PCGS
inducted him into its “Coin Dealer Hall of Fame.” He
continues to deal in and finance high-end rare coins
and to fight for the numismatic consumer.

54 COINAGEMAG.COM

Albanese has appeared on the CBS television program, “Inside Edition.”
What motivated you to become a coin
dealer, and at what age did you start?
1959 was my birth year, and I remem-
ber as a young child that the Mint would
no longer produce silver coinage in 1965. I
was instantly hooked when my grandfather
gave me a handful of well-circulated Barber
quarters; it was as though I was in a time
machine. When I came home from school,
I would search through my mother’s change
for War nickels and Mercury dimes. Every
day seemed like a treasure hunt. I lived in
a large neighborhood, and I knew several
kids and their fathers who collected coins.
We often traded coins amongst ourselves.
A coin shop opened in Flemington in 1973,
and I could ride my bike there on week-
ends. Before long, I was working behind the
counter. A few years later, I recruited Mark
Salzberg, who was only 12 years old at the
time, to work with me there.
I attended college for a short time but was
still obsessed with coins and could not focus
on my college work. In 1978, I opened my
own office in Flemington and then a year
later opened a coin shop around the corner.
It turned out to be a smart move because of
the coin market boom in 1980.
And how did it come about that you were
one of the original PCGS business part-
ners?
That was 32 years ago. I was a very active
dealer in the show circuit. My biggest com-
petitors at that time were Greg Holloway and
David Hall for buying Gem type coins. Coin
dealer Sylvano DeGenova invited me to be
one of the original founders, and I accepted.
So you founded NGC in 1987. Why?
I was grading 10 days a month at PCGS,
and my first son was born in October 1986. I
was still attending three coin shows a month,
and I didn’t want to move to the west coast.
I wanted, instead, to do things my way. I had
never worked for anyone other than in the
coin shop as a kid. I wasn’t a team player. I
was contemplating starting a grading service
before being asked, but decided going with
PCGS would be easier. At the time, PCGS
founders were all coin dealers. I had a suc-
cessful coin dealership, as well, and dissolved
coinage September 55
Certified Acceptance Corporation, founded by Albanese in 2007, independently certifies already-graded coins.

“IT’S HARD TO SAY WHAT IMPACT COIN DOCTORING

HAS ON ALL OF THIS. I DETECT A NOTICEABLE DROP
IN DOCTORING SINCE PCGS’S LAWSUIT AGAINST
THE ALLEGED DOCTORS.”

my dealership on the principle that coin
graders should not be coin dealers.
When did you sell your interest in NGC?
Late 1998. I wanted to get back into the
coin market and was burned out. It felt like
we had seen everything. I wasn’t having fun
anymore. I’m sure I graded seven figures in
numbers of coins at NGC.
So let’s advance the hands of time to
today, July 5, 2018. Do you acknowledge
that today we have “gradeflation” –
grading services NGC and PCGS grading
coins more loosely than they did at the
time you sold NGC?
It was gradual over time. The bar was set
too high. The grading services were uptight.
Some coins are stricter. Type two, one dollar
gold coins are stricter in MS-63. Overall,
generic coins are looser today than in 1998.
What impact has coin doctoring had?
It’s hard to say what impact coin doctoring
has on all of this. I detect a noticeable drop
in doctoring since PCGS’s lawsuit against
the alleged doctors.
What are your favorite coins to grade?
I don’t know if I have a favorite coin to
grade. At my age, the silver dollars and the
Saints, the largest coins, are the easiest. It’s
easier to grade an uncertified coin, and it’s
always fun when an original fresh collection
is submitted.
Enter CAC. Why?
At the time, 2008, I felt there was a large
disconnect in the market. The coins that
barely made the grade (“C” quality) were
dragging down the price of the high-end
(“A” quality) and solidly graded (“B” quality)
coins. A and B coins have always brought
more at public auction and on the bourse
floor amongst dealers, but I felt there was a
need to level the playing field for the non-
experts.
The hobby and science of numismat-
ics has a graying population, and very
few young people are entering the field.
What needs to be done to expand and
grow the hobby?
This is a common question. Demographics
are beyond our control. We have an Internet
Age, and kids’ interest are being diverted by
that. We can’t turn back the clock to a time

56 COINAGEMAG.COM
 Albanese was co-founder of Professional Coin Grading Service in 1986 and went on to form Numismatic Guaranty Corporation in 1987.
when COINage has hundreds of thousands
of subscribers. There is a lot of coin volume
despite lower participation. I would like to
see the demographics in the art industry of
people buying $100 million paintings. There
aren’t a lot of people buying those. A lot of
money is going into trophy coins.
What is the role of the ANA, and what
can it do to help expand the hobby?
As an industry, we put too much pressure
on the ANA to expand the hobby. They run
a nice coin show and have a nice library.
They can’t do anything. We have what we
have. You can’t change demographics. We
have clad coins, not exciting, and a U.S.
Mint with countless issues.
Do ANA politics help or hurt the hobby?
Totally irrelevant. And it should be irrel-
evant.
What is the future of coin shows and
conventions?
We’ve seen a downturn in attendance
there. I do remember as a young coin deal-
er, if Kevin Lipton in Beverly Hills had a
$25,000 coin I wanted, he brought it to
a show. If I returned it to him, it would
take a month for him to get it back, using
Registered Mail. With FedEx and Express
Mail, shows are less important. Kevin could
just overnight the coin to me. Then add
in streaming videos and high resolution
images being sent over the internet, and
shows are less important.
What makes the FUN show so perenni-
ally successful, while other shows are on
the verge of obsolescence?
First of all, it is a real non-profit club show.
It is in Florida in January. It kicks off the
new year during a time of family vacations.
How would a cashless world affect coin
and banknote collecting?
It might help coins. More people collect
things that are obsolete.
Does the United States Mint help or hurt
the rare coin marketplace?
I think overall the jury is still out. The
hope is that selling a multitude of mod-
ern issues would expand the market. But it
seems to be sucking money out of the rare
coin market. But I would think the jury is
still out.
coinage September 57
show dates Email show datE information to editor@coinagemag.com.
september 2018
1: WESLEY CHAPEL, FLORIDA: 1st Saturday
Coin Club Show; Eagle Lodge #3752, 4149 New
River Rd.; free admission; Contact (813) 355-6813
1: MuStAng, OkLAHOMA: Mustang Coin
Show; Mustang Town Center, 1201 N. Mustang
Rd.; free admission; Contact (405) 795-3128
1: knOxvILLE, tEnnESSEE: Knoxville Coin &
Currency Show; Rothchild Catering & Conference
Center, 8807 Kingston Pike; 20 tables; Contact
(865) 660-8692
2: PHOEnIx, ARIzOnA: North Phoenix AZ
Collectible Estate Coin & Currency Auction;
Auction Nation, 2710 W. Bell Rd. Suite 1240;
Contact (602) 516-7066
2: FAIRFIELD, COnnECtICut: First
Sunday Fairfield Coin & Sport Card Show; The
Scandanavian Club, 1351 S. Pine Creek Rd.; 50
dealers, $2 admission; Contact (203) 265-1813
2: MAItLAnD, FLORIDA: Maitland Coin &
Currency Show; Maitland Civic Center, 641 S.
Maitland Ave.; admission free; Contact
(410) 747-6231
2: DECAtuR, InDIAnA: Decatur Monthly Coin
Show/Flea Market; Decatur Riverside Center, 554
Studebaker St.; admission free; Contact (260)
517-8182
2: FAIRFIELD, COnnECtICut: First
Sunday Fairfield Coin & Sport Card Show; The
Scandinavian Club, 1351 S. Pine Creek Rd.; 50
tables, admission $2; Contact (203) 265-1813
6-8: LOng bEACH, CALIFORnIA: Long Beach
Coin, Stamp, Currency & Sports Collectibles Expo;
Long Beach Convention Center, Hall A, 100 S.
Pine Ave.; Contact
(888) 743-9316
7-8: MOuntAIn HOME, ARkAnSAS: 41st
Annual Stamp & Coin Show; Ramada Inn
Convention Center, 1127 Hwy 62B; 40 tables,
admission free; Contact (870) 424-2957
7-9: tuLSA, OkLAHOMA: Oklahoma
Numismatic Association Tulsa Fall Coin Show;
Tulsa Elks Lodge, 5335 S. Harvard; Contact (918)
496-3008
7-9: MOnROEvILLE, PEnnSYLvAnIA:
Sarosi’s C.A.M.P. Coin Show, Semi-Annual;
Monroeville Convention Center, 209 Mall Blvd.;
Contact (814) 535-5766
8: SEMInOLE, FLORIDA: Seminole Coin,
Watch, & Jewelry Show; Elks Lodge, 10717
Seminole Blvd.; 30 tables, admission free; Contact
(813 862) 6894
8: CAntOn, OHIO: Canton/Rt. 30 Monthly Coin
Show; Perry Grange Hall, 6300 Richville Dr. SW;
25 tables, admission free; Contact (330) 844-2138
8: LAnCAStER, PEnnSYLvAnIA: Red Rose
Coin Club, Inc. Coin Show; Farm and Home
Center, 1383 Arcadia Rd.; admission free; Contact
(717) 371-2764
8: nORFOLk, vIRgInIA: Norfolk Coin Show;
VFW Post 4809, 5728 Bartee St.; 40 tables,
admission free; Contact (757) 363-0179
58 coinagemag.com
8-9: jACkSOn, tEnnESSEE: West Tennessee
Collectors Club 59th Annual Coin Show; Madison
County Agricultural Extension Service Auditorium,
309 N. Parkway; 31 tables, admission free;
Contact (731) 394-3972
9: CHAnDLER, ARIzOnA: Camelback
Collectables Coin Show; American Legion Post
35, 2240 W. Chandler Blvd.; admission free; (480)
227-3604
9: MARIEttA, gEORgIA: Greater Atlanta Coin
Shows; Hilton Atlanta/Marietta Hotel & Conference
Center, 500 Powder Springs St.; admission free;
(770) 772-4359
9: COuntRYSIDE, ILLInOIS: West Suburban
Coin & Collectible Expo; Park Place of Countryside
Banquet Hall, 6200 Joilet Rd.; admission free;
Contact (630) 399-9060
9: InDIAnAPOLIS, InDIAnA: 71st Street Coin
and Currency Show; Knights of Columbus, 2100 E.
71st St.; 45+ tables, admission free; Contact (317)
837-5682
9: SOutHFIELD, MICHIgAn: Detroit Area Coin
Show; VFW Hall, 24222 W. Nine Mile Rd.; 30
tables
9: bLOOMIngtOn, MInnESOtA: Bloomington
Coin & Currency Show; Crowne Plaza, 3 Appletree
Square; 35 tables, admission free; Contact (651)
269-5846
9: buRLIngtOn tOWnSHIP, nEW jERSEY:
Burlington World Coin Show, 2nd Sunday Every
Month; Masonic Lodge No. 32, 2308 Mt. Holly Rd.
(Rte. 541); 30+ tables, admission free; Contact
(609) 499-8826
9: jAMEStOWn, nEW YORk: Herman Kent
Post #777, 26 Jackson Ave.; admission free;
Contact (716) 397-5613
9: FAIRvIEW PARk, OHIO: Universal Coin,
Currency & Stamp Show; American Legion Post
#42, 22001 Brookpark Rd.; 40 tables, admission
free; Contact (440) 864-7473
13-15: ORLAnDO, FLORIDA: CFCC Central
Florida Coin & Currency Fall Show; Central Florida
Fairgrounds, 4603 W. Colonial Dr.; 100 tables,
admission free; Contact (407) 657-6440
13-15: gEttYSbuRg, PEnnSYLvAnIA: The
National Battlefield Coin Show; Eisenhower Hotel
& Conference Center, 2634 Emmitsburg Rd.; 45
tables, admission free; Contact (301) 788-6232
13-15: MOnROEvILLE, PEnnSYLvAnIA:
PAN Coin Show – Pennsylvania Association of
Numismatics; Monroeville Convention Center, 209
Mall Blvd.; 150 tables, admission free; Contact
(412) 531-3100
14-15: DunCAn, OkLAHOMA: Stephens
County Coin Show; Stephens County Fairgrounds,
1618 S. 13th St.; 50 tables, admission free;
Contact (580) 475-4570
15: tRuSSvILLE, ALAbAMA: Central Alabama
Coin Show; Trussville Civic Center, 381 Trussville-
Clay Rd.; admission free; Contact (205) 612-5538
15: PEOtOnE, ILLInOIS: Peotone Coin Show;
Will County Fair Grounds, 710 S. West St.; admis-
sion free; Contact (708) 670-3126
15: gRAnDvILLE, MICHIgAn: Grand Rapids
Area Coin Show; American Legion Post 179, 2327
Wilson Ave.; 42 tables, Contact (616) 822-8383,
Email stephenfriedman55@sbcglobal.net
15: SAInt CHARLES, MISSOuRI: 2018
International Coin Fair; American Legion Post 312,
2500 Raymond Dr.; admission free; Contact (636)
296-0623
15: InDIAnA, PEnnSYLvAnIA: Indiana Semi
Annual Coin Show; S & T Bank Arena, 497 E. Pike
Rd.; Contact (724) 254-2471
15: kEnt, WASHIngtOn: Kent Valley Coin
Show; Kent Commons, 525 4th Ave. N.; Contact
(253) 537-6049
15-16: FLInt, MICHIgAn: Flint Coin, Stamp &
Sportscard Show; Dort Mall, 3600 S. Dort Hwy.;
Contact (810) 280-6873
15-16: vICkSbuRg, MISSISSIPPI: 97th
Vicksburg Coin Show; Riverwalk Casino, I-20 Exit
1A, 1046 Warrenton Rd.; Contact (601) 529-0335
15-16: jACkSOnvILLE, nORtH CAROLInA:
Rare Coins of Raleigh Coin & Currency Show;
Hilton Garden Inn, 1016 Jacksonville Parkway;
Contact (919) 790-8544
16: CROMWELL, COnnECtICut: Hartford
Coin and Currency Show; Courtyard Hartford
Cromwell, 4 Sebethe Dr.; 44 tables, admission
free; Contact (718) 323-1930
16: COunCIL bLuFFS, IOWA: The Original
Monthly Coin & Bullion Show Omaha/Council
Bluffs; Hilton Garden Inn Omaha East/Council
Bluffs, 2702 Mid America Dr.; 40 tables, admission
free; Contact (402) 720-3355
16: AnnAPOLIS, MARYLAnD: Annapolis Coin
& Currency Show; Annapolis Elk’s Lodge 622, 2
Pythian Drive; admission free; Contact (443) 623-
7025
16: St. PAuL, Mn: South St. Paul Monthly Coin
Show; South St Paul VFW Post #295, 111 Concord
Exchange S.; 37 tables, admission free; Contact
(651) 269-5846
16: CHEEktOWAgA, nEW YORk: The Buffalo
Numismatic Association Monthly Coin Show and
Bourse; The Knights of Columbus, 2735 Union
Rd.; 50 tables, admission free
16: HILLARD, OHIO: Columbus Coin Show, 3rd
Sunday Every Month; Makoy Center, 5462 Center
St.; admission $2 for ages 18+; Contact (614)
785-9967
16: tOLEDO, OHIO: Blue Ribbon Coin Show;
St. Clement’s Hall, 3030 Tremainsville Rd.; Contact
(419) 654-0656
19: uxbRIDgE, MASSACHuSEttS:
Blackstone Valley Every 3rd Wednesday Coin
Show; VFW Post #1385, 16 Cross Rd.; Contact
(774) 280-4333
20-22: St. CHARLES, ILLInOIS: Illinois
Numismatic Assoc. Coin & Currency Show;
Pheasant Run Resort, Mega Center, 4051 E. Main
St.; Contact (708) 670-3469
 CoinageMag.com
FIND US ONLINE TODAY!

YOUR AD HERE FOR AS LOW AS

$100 CONTACT TED BARKER AT 972.448.9147
OR TBARKER@BECKETT.COM FOR INFO
COINage KIDS By Marcy Gibbel

A Coin for
Every State
Y
ou have no doubt heard
of the U.S. Mint’s 50
State Quarters Program.
One of its most successful
initiatives, the 10-year-long
program launched in 1999 and
honored each of the nation’s
states on a quarter, issued
in the order that they earned
statehood. Check your change,
and you are almost sure to find
a circulated quarter honoring
of one of the United States.
Test your knowledge of the
50 states by completing the
crossword puzzle below.
Answer key is on Page 61.

ABOVE: The New York and Vermont state

quarters were released in 2001, Wisconsin
in 2004, and Hawaii in 2008.
U.S. MINT

60 COINAGEMAG.COM
 TomCederlind.com

BUYING & SELLING

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CoinageMag.com
FIND US ONLINE TODAY!

COINAGE AUGUST 61
TAKE NOTE
Back to
School
Institute Launches
Cryptocurrency Course
[LONDON, ENGLAND] The London
School of Economics and Political Sci-
ence (LSE) has launched a new online
certificate course titled “Cryptocurrency
Investment and Disruption” headed by
Dr. Carsten Sørensen, Associate Professor
of Information Systems and Innovation.
At £1,800 ($2,377 U.S.), there are no
prerequisites for the new six-week course.
Explaining the rationale behind the
course, the institution states that, “For
over one hundred years, LSE’s motto
has been to ‘understand the causes of
things.’ This online certificate course pairs
practical cryptoasset knowledge with the
theoretical thought leadership for which
LSE is renowned.”
The classes listed offer practical invest-
ment skills, like how to interact with
cryptocurrency exchanges, how to use
wallets, and how to evaluate the analytics
of an ICO (Initial Coin Offering).
In a more broad perspective, students
will also explore how cryptocurrencies
will shape the future of money, markets,
and industries. The course is also meant to
provide the information, knowledge, and
frameworks of blockchain technologies
and cryptocurrencies, all needed to under-
stand how they operate and the implica-
tions for business and the economy. But
just to be on the safe side, the institution
adds, “You will not be given cryptocur-
rency investing advice, or investment or
financial advice of any nature.”
62 COINAGEMAG.COM
Batter up! Medals Feature
America’s Pastime
[BOSTON, MAS-
SACHUSETTS] Calling
In addition to the
30-piece copper set for
all baseball fans: Today’s 2018, collectors can also
stars of America’s hope to find what the
pastime are now memo- firm calls “chase coins,”
rialized on collectible gold and silver versions
medals. of the medals. The odds
Baseball Treasure, a of obtaining a .999 fine
BASEBALL TREASURE
company that produces silver version is one in
medals licensed by Major 432, while the chances of
League Baseball featuring getting a gold medal is
30 current MLB players, one in 21,600.
One player from each MLB
has introduced medals in team can be found on copper, “What MLB liked about
copper, silver, and gold. silver, and gold medals in our product is the ‘blind
“blink packs” from company
One player from each Baseball Treasure. pack’ nature of it,” said
Major League team is Rick Canale, Baseball
featured on a one-ounce copper round Treasure co-founder. “It’s the ‘thrill of the
presented on a color cardboard mount. chase.’ You don’t know which player you
Each medal displays the player’s name, are going to get.”
position, and etched portrait on the The pieces are available online at Base-
obverse with an action image on the ballTreasure.com, at sports memorabilia
reverse. The “blind packs” cost $6.99 each. shops, and at select MLB team gift shops.
Buried cache bronze clasp that was found next to it.
The coins are part of the first Roman
[ROME, ITALY] A treasure of coins issue and have the image of the god Janus
from the 3rd century B.C. was found Bifrons on one side and the prow of a
intact at the Vulci archaeological site, boat on the other, symbolizing the passage
according to a statement from the site’s of the dead from the world of the living to
scientific department. the underworld.
The discovery included 15 large bronze Carlo Casi, the scientific director at
coins found above the closing tile of a the Vulci Foundation, said, “More than
burial site along with an iron strigil and 100 tombs have been excavated, dating
numerous ceramics. It is believed that between the middle of the 8th century to
this was part of a funeral ritual for two the 2nd century B.C. In this specific case,
deceased. the study of the context is interesting,
One of those buried there had another because it allows us to better define the
coin similar to the others on his left social continuity between the Etruscans
shoulder. There was also a bronze clasp and the Romans, following the conquer-
and other iron and ceramic objects that ing of Rome that took place in 280 B.C.”
completed the burial kit. His death may The digs were a collaboration between
have been the result of an iron spear the Superintendency for Archaeology,
found near the skull. Fine Art and Landscape for Metropolitan
The second buried there was cremated. Rome; the province of Viterbo and South-
The incinerated bones were wrapped in a ern Etruria; the Vulci Foundation; and the
shroud that was probably closed with the City of Montalto di Castro.
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