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How do I get the most for this coin?
Ferriplasm
Posts: 2 ✭
in Q & A Forum
I inherited a 1914 $2.50 Indian head coin from my grandfather. It looks to be in OK condition, but I have an untrained eye. I’d like to get fair market value and am trying to decide if it is worth grading. I’m not a collector and don’t have a membership to any grading organizations.
What advice can you give me? There’s a coin show coming up mid-June in my area. Would it be worth attending that to look for a buyer? Do they perform grading at coin shows?
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Welcome to the forum!
If you have a show coming in your area you can ask several dealers at the show what they would buy it for.
Don't take the first offer, check with 3 or 4 dealers.
Many times at shows there is on site grading by one or more of the 3 major grading companies.
Checking ebay sold listings can give you an idea also.
https://www.ebay.com/sch/i.html?_from=R40&_nkw=1914+2.5+gold+indian&_sacat=0&rt=nc&LH_Sold=1&LH_Complete=1
Thanks for the advice! I stopped by a couple local dealers and both offered $250, which is a bit less than I'd like to get. I think I'll go the route of the coin show and show it around there. Thanks again!
@Ferriplasm it would be advantageous if you can study and compare your coin with some high quality images of graded pieces in F thru EF. Our host has images to study. Good luck. Peace Roy
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Currently, you should be able to get a minimum of $350 for that coin. If you were local, I'd offer you $375 for it.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
That’s the second lowest mintage Indian quarter eagle minted. $375 is a nice offer - if it grades higher than an AU58 the prices start to climb. These are popular coins among collectors- I have a set myself and love em.
I'd take Mr. Feld's offer and be done with it. I don't know him personally and don't have any interest in this transaction but Mr. Feld is well-respected and his offer seems quite fair.
At some point, additional effort won't get you more money and we may be there already. But it could be fun shopping it around, if you view it as a learning experience. Your call, either way, the consequences aren't huge.
One of the lower mintages at a bit over 240 Thousand but a nice offer at $375.
"When they can't find anything wrong with you, they create it!"
The CPG price on an XF-45 is over $500 and this coin looks to be at least XF-45. That's a retail price so I would expect a dealer to offer lower.