Evan asks: A question. What does the “js” mean that appears near the President on the Roosevelt dime?
The designer’s initials. “JS” are the initials of the Mint’s Chief Engraver, John Sinnock.
There was some controversy over those initials at the time. With the “Red” paranoia of the day still very much in evidence, some people believed that the initials were those of Soviet leader Joseph Stalin. As outlandish as that sounds today, plenty of Americans perceived Communist influence behind every rock. The rumors became widespread enough that the Mint was forced to issue a statement naming Sinnock as the designer and refuting the claims of “Reds” harbored within the Mint walls.
Kelly C. writes: I’m just curious, what are nickels made of? Is there any silver in them? Thanks.
U.S. nickels have the most consistent composition of all United States coins. From the Shield nickel’s inception in 1866 until the present, the nickel coin has been made from an alloy of .750 copper and .250 nickel. Only for a brief period of years (1942-45) was the nickel composition altered and this was for the emergency of WW II. The eleven war nickels from this period had all of the nickel replaced and some of the copper with an alloy of 56% copper, 35% silver and 9% manganese.
Interestingly, for the second time in U.S. history manganese was used in the manufacture of the new smaller sized dollar coins beginning with the Sacagawea coin in 2000, followed by the Presidential dollars in 2007 and the Native American series in 2009.
Gina asks: Do you have any idea what to do with a roll of money that is approx. 100 years old, has been buried in a mason jar and is wet? Do we try to unroll them? Let them dry? Keep them wet? Also how would we go about getting our finds appraised or just evaluated?
Paper money that is damaged, has been underground and stuck together can be redeemed at the U.S. Treasury for full face value. They have a laboratory just for this purpose. They will be able to determine exactly how much money is really there and will send you a Treasury check for the amount that you have. Do not try to separate the money yourself.
Contact the Department of the Treasury in Washington and they will tell you where to send your paper money. Last time I checked they were not charging any fees for this service nor do they ask any questions about where you found it. Their sole purpose is to help you redeem your U.S. paper money. Our tax dollars at work!
R. C. writes: My husband’s Great-Grandfather was awarded a coin type award from the Cincinnati Industrial Exposition dated 1874. It is engraved “Awarded To J. H. Hunt, M.D. For Collection of Land Shells. Around the perimeter of the back of the coin it says. Board Of Trade*Chamber of Commerce*Ohio Mechanics Institute. It appears to be made of silver. Any info would be greatly appreciated. Thanks!
Your medal from the Cincinnati Industrial Exposition in 1874 is something to be proud of. Expositions were the 19th Century version of a science fair and many people competed to win medals in various categories. Though I’ve never heard of an award at these expositions for a display of Land Shells (is that sea shells that were found on land? ‘Could be from digs where the sea shells are found under the ground), awards such as these are certainly collectable and often show up in exonumia auctions. They usually come in bronze, white metal, silver and gold.
Though the monetary value of the medal is fleeting the connection to your great-great grandfather is priceless. Enjoy…
David B. writes: I recently bought some certified uncirculated Morgan Silver Dollars. I bought them because some had beautiful rainbow colored toning. Yes I bought the best ones. Later I realized that they were more expensive then the same one’s that were not toned & the same grades (MS64 & MS65). Why are they much more above the price of the regular coins? I heard that dealers cleaned toned coins.
Toning, or to use another term, patina, is natural on metals such as silver and copper. The natural state of a coin a century or more old is that it has acquired a patina. This is the result of the coin’s metal combining with oxygen in the air. The depth of the oxidation and the type of chemicals that might have been in the air in the presence of the coins, determine what the patina will show. Silver coins kept in the same environment for a long period of time will most likely show similar patterns of patina.
A good example are coins that have been kept in cardboard albums for years. Albums like this contain sulfur. Sulfur combines easily with coinage metals like silver, copper or nickel and is capable of creating a multicolored patina on each coin. The old National Coin albums of the 30s-60s were wonderful incubators for incredible multi-hued, rainbow like, peripheral toning. Dealers and experienced collectors often refer to this as “Wayte Raymond” toning, so named for the well-known dealer who introduced these albums.
“Rainbow” toning is an optical effect caused by graduated layers of silver oxide on the surface of a coin. This is often seen on coins that have been in contact with a sulfur source for a good number of years (usually 20 years or more).
With few exceptions, silver coins left undisturbed for many years will acquire toning from the chemical elements in the air of the environment in which they are stored. Virtually all white 19th century silver coins you see today have been “dipped” at one time or another. This is not necessarily bad if done properly. However, dipping away original toning removes the “thin film interference” of toning between the coin’s surface and the impurities in the current environment, possibly resulting in eventual discoloration or other problem.
Removing patina with the mild acid that is in such products as Jewel Luster also removes the oxide layer and thus the top layer of metal. The luster of a coin, the effect that causes light shined on a coin to move in a circle, is caused by flow lines created when a coin is struck. When you dip a coin, you are also removing the flow lines and thus the luster as well. Sometimes no more than two dippings will turn an uncirculated coin into one that is AU.
Knowledgeable collectors have long appreciated the rarity and beauty of originally toned coins. Since at least the late 1950’s, and particularly after the mid 1970s, “Gem toned” coins have frequently (some would say consistently) brought many multiples of the prices realized for “white” coins in the same grade. One only has to look at the incredible prices (and the incredibly beautiful coins that brought those prices) realized in the November 2013 Heritage Auction Galleries sale of the Eric P. Newman collection. Both the coins and the prices are literally jaw dropping!
Alan P. writes: Hello. I have several dateless Standing Liberty Quarters. They are all the type 1, bare breast. Some time ago I read an article (in Coin World) that told how to tell the difference between a 1917 type one and a 1916. It had something to do with the berries in Liberty’s right hand. Can you help?
There are several design differences between the 1916 quarter and later years. Here is a few characteristics that should help. Get a 10x glass to see the details easily:
Bob H. writes: While preparing to sell my mother-in-law’s possessions, I found a coin that I’m now trying to identify and value. It is a US gold coin, about the size of a quarter, with the classic Liberty head, but on the back instead of an eagle there is a “V”. The coin is dated 1883, and I’d say it is in “good” condition–“Liberty” is clearly readable in the head piece on the front. I couldn’t find a coin with that reverse looking through the image gallery. Can you help? Thanks. Bob.
This is a gold plated nickel and not a $5 dollar gold coin. There is a famous landmark legal case to determine whether it was criminal to gold plate nickels and cut reeds in the edge to make it look like a Classic Head $5 gold piece.
The date 1883 was the first year of the Liberty nickel and since the population was new to this coin, it was easy to get away with the scam. Suprisingly, the perpetrators were found innocent since they used a deaf mute who would buy a 5 cent cigar, put the gold plated nickel on the counter and walk a way with $4.95 change. Since the perpetrator couldn’t speak he never said it was a $5 gold piece and therefore was innocent of fraud. (19th century logic). Later that year the word “Cents” was added under the “V”
These nickels are affectionately called “Racketeer Nickels“. To be a “genuine” RN, the nickel must have reeding on the edge as well as the gold plating. Worth about $50 or so if one of the “originals”.
C.C. asks: I heard there may be a 100 point grading system. Is this true? Isn’t the 70 point system complicated enough?
I’m not sure you could make it stick with an already confused public. There is no tradition or even the necessity to grade coins on such a fine scale. Broader terms make more sense. The difference between an VF and EF coin is measurable. You can teach someone the difference.
The problem has always been with evaluating uncirculated coins. It has become extremely subjective. This is easy to prove. Just send a nice mint state coin into any grading service over and over again. You may be surprised at what grades are assigned each time. Part of the problem is that there are now eleven mint state grades and the grading isn’t evenly divided by quality. There are smaller subjective differences between MS60, MS61, and MS62 than between MS63, MS64 and MS65. What happens when there are 20 or even 30 mint state grades. I don’t think you could show someone the difference. Also, over time, the grading seems to float and evaluations become tighter or looser. Essentially encapsulated grading has become a marketing tool and pricing is by nuance.
Though I don’t see any value in a 100 point scale, there is a positive side to encapsulated grading. The graders are skilled at counterfeit detection and the grading services guarantee that their opinion is correct. Encapsulating the coins is also a fairly good storage method though the containers are not air tight.
If grading is vital to the value of a costly encapsulated collection than you need to have the coins evaluated at least yearly. It is the only way to determine what the market value of your coins has become. Since encapsulated grading is market driven, your coins will often grade higher in an active market and lower in a stagnant market…..or maybe not.