1
U.S. Coins & Currency 447
Colonial Castorland Medals
L.J.M. writes: I have two “Franco Americana Colonial” coins dated 1796. One is thick and one is thin otherwise they appear to be identical and in pretty good condition…what is their value and how do I go about authenticating them? Thank you very much for your time and attention.
The Castorland Medals were presentation pieces given to the directors of the company that was going to set up a French Settlement in Carthage, New York. It was the year of the French Revolution and the company’s founders thought this would be a popular location for Frenchman fleeing the upheaval and destruction in France.
It didn’t work out and the settlement was never established. The medal is considered part of the collection of Colonial and post Colonial emergency and state coins. There are many copies and “restrikes” of the Castorland Medal, many produced by the Paris Mint. Original silver examples are rare and can bring as much as $6000 or more, bronze examples can be worth $150 or so. The modern Paris restrikes (says Paris Mint on the edge) come in silver and bronze. Value: $5-$25 each.
Are 1949 thru 1954 Lincolns difficult to find in higher grades?
Steve writes: I have a question on Lincoln Cents for 1949 & 1954. I have a graded set of Lincolns from 1909 thru 1998. All my Lincolns from the 30’s to 90’s were all graded MS66 or better but the 1949 thru 1954 only came back graded MS65. Are these years difficult to find in the higher grades?
Yes, some of these dates are tough in high grades. The hardest to find in nice condition of this group is the 1954-P. It has a low mintage, in fact, the lowest since the depression date of 1933. Only about 71 million were struck, few were saved and the majority look like hell. You’re lucky to have found a 1954 Lincoln in MS65.
How many coins are in a complete set of silver War Nickels?
Noah asks: I was wondering how many coins are in a complete set of silver war nickels. And what would be an estimated price for a set in average condition, and also the weight and silver percentage of each coin. If you would. Thanks for your time.
There are eleven “War Nickels” (1942-45), that is U.S. 5 cent coins made from an alloy of 56% copper, 35% silver and 9% manganese. Each coin weighs the standard 5 grams and contains .05626 oz. pure silver.
Nickel was in short supply during the war years and eliminating that material from the 5 cent coin alleviated part of the shortage. All the “War Nickels” can be identified by a large mint mark over the dome of Monticello on the reverse. 1944 Nickels with no mint mark are counterfeit.
Circulated sets are easy to assemble for about $2.00 or so per coin. Only the varieties and doubled die examples are expensive but not so that you couldn’t manage to include them in your set:
- 1943P 3 over 2 – range about $50-$75 in average circulated condition
- 1943P doubled die – range $30-$50
- 1945P doubled die – range:$20 -$50
Was there “Emergency” currency printed in World War 2?
Jerry writes: Was there “Emergency” currency printed in World War 2? I have seen photos of a $10,000 Silver certificate. At first glance it looks phony, in fact it looks like a one dollar bill that has been changed to a 10,000 bill. The bills have Washington’s portrait as well as the other traits of a one dollar bill. I have been told that these were printed to shore up Chang Ki Shek’s efforts against the Japanese during the war. Any info would be appreciated.
Washington only appears on $1 notes. Salmon P. Chase is on the $10,000 Federal Reserve Note. Why would giving fake money to China help them defeat Japan in WW II?
There were two emergency issues of currency during WW II. One, was currency issued for use only in Hawaii. It was normal except that every note was overprinted with the words “Hawaii”. The U.S. anticipated a Japanese invasion of the Hawaiian Islands and it would be easy to demonetize the overprinted currency if it was seized by Japan. The other emergency currency was used for paying U.S. troops in North Africa during WW II. The notes were had a yellow seal so they could also be easily demonetized in case of capture by the enemy. See: World War II Emergency Money
1798 Spanish 1/2 Real
M.M. writes: I’m trying to identify a coin I recently found with a metal detector at the site of a log cabin that was built approx. around 1800 in southeastern Indiana. I’ve found numerous large cents 1826 to 1845, a half dime, dime and 3 cent peace but one I cannot identify. It is silver, dated 1798, the size of a dime, a bust on the front with Gratta something on the front, on the back it has a shield with a coat of arms, a crown above it and it looks like swords on each side of the shield. It also says Hispan .ET IND R (something).F.M any help would be greatly appreciated. Thanks!
Your coin dated 1798 is a Spanish 1/2 Real (pronounced ray-ál) with the portrait of Carlos IV of Spain. It was minted at the Mexico City Mint, the initials F.M belong to the assayer, the person in charge of making the coins. Spanish silver circulated freely in the United States and was legal tender until 1858. The U.S. monetary system is essentially based on the Spanish Real.
Here is how Spanish Reales related to United States Coinage:
- Spanish 8 Reales = US$1
- Spanish 4 Reales = half dollar or 50 cents
- Spanish 2 Reales = quarter or 25 cents
- Spanish 1 Real = 12½ cents (when worn and they usually were very worn the 1 Real translated as a U.S. dime or 10 cents).
- Spanish 1/2 real = 6 ¼ cents (also passed, because of wear as a U.S. half dime or 5 cents) This coin was called a medio, a term no longer in the U.S. vernacular.
In the American West, where there always coin shortages, the portrait 8 Reales were cut in to 8 pie shaped pieces to serve as small change. One piece, called a bit, was worth 12½ cents. Two bits was a quarter, a term that still survives today.
Value for low grade 1798 medios – about $10.
What would 300 pounds of Mercury dimes be worth?
Gerald asks: Could you tell me what Mercury dimes are worth? Have approx. 300 pounds of various dates of these. What would be their value?
Junk silver, that is common date circulated U.S. silver coins, are sold in the market in $1000 face value bags. (That’s 10,000 dimes). Each bag weighs about 54 avoirdupois pounds. You’ll have to check the current market but junk silver bags bring about $14,000 per bag. Based on your estimate of weight you have about 5.5 bags or $5,500 face value in silver dimes. At $14K per bag, you’re looking at about $77,000. The only dates worth looking for in circulated condition are the 1916-D, any 1921 or 1942/1 or 1942/1-D. The rest are common in circulated condition.
Doesn’t the date of a coin determine its market value?
Daniel writes: I have some very old dollars from before 1900. My friend tells me that they’re pretty common and all worth the same – about $20. That doesn’t make sense to me. Doesn’t the date of a coin determine its market value?
I get the impression that you believe only the date plays a role in market value. In reality the following factors are important for the market to place a value on a coin:
- The coins identification – what is it? (i.e. 1793 U.S.Cent). This would include the mint mark (if any).
- The type or variety (in the above example there is a Chain motif which gave way to a Wreath motif later that year).
- The condition of the coin – what numismatists call “grade”. This is a descriptive code that describes the deterioration of a coin from the time it leaves the dies to when it arrives in you hands. This may include wear from being in circulation, damage from mutilation or damage from cleaning.
- The “Look” of the coin. This is an aesthetic call and often has to do with the type of patination (sometimes called toning), clear or with color, that is exhibited on the surface of the coin.
- The rarity of the coin
- The demand from the collector base
I think that your friend is referring to the fact that in some cases (and Morgan dollars would be one of those cases), the common-date coins in a series may all be priced similarly. But that’s true only for the common dates in a particular condition and do not apply to the scarcer date/mint mark combinations and other grades. For example, a dealer’s price for any common-date Morgan (regardless of the year) may be the same ie; “Common-date Morgans in VG – $20 each”. But at the same time, his price for an 1885-CC (Carson City) Morgan dollar in VG would be considerably more.
Is there another U.S. quarter type I could add to my collection?
Joe S. writes: I already have a great U.S. quarter collection (a draped and capped bust quarter, a barber quarter, seated and standing liberty, silver wash. quarter, 3 or 4 great error quarters and many of the new state quarters….. Is there another U.S. quarter type i might be able to add to my collection?
Try getting examples of the following quarter dollars:
- No Motto Quarter 1838-1853 and then from 1856-1865
- Seated Quarter, No Drapery from Elbow
- 1853 Quarter Arrows at Date and Sun Rays behind eagle on the reverse.
- 1853-55 Arrows at date but No Rays.
- 1866 and after, Motto on ribbon the Reverse (In God We Trust).
- 1873 Arrows at Date
- 1934 Doubled Die Washington Quarter
- 1983-D Washington Quarter, though a high mintage, few were saved in uncirculated grades. A good example of a clad quarter with value.