Jim K. writes: Several years ago I found a 1928 $2.50 gold Indian head coin mounted in a gold ring. I never had it appraised and gave it to my mom for safe keeping. What is the coin worth today. Thanks.
Since grade is everything to the numismatic collector, coins used in jewelry are considered damaged goods and trade at a small premium above the gold content (.12094 oz pure gold for the Indian head quarter eagle). If they are heavily defaced (scratches, gouges, heavily polished, etc.), they will bring somewhat less than their gold value.
