Question about indian head pennies

friesza

I had some indian head pennies looked at and was told they were only worth 3 or 4 cents apiece they range from 1883 to 1902 and are in pretty good shape any comments?

hockeyman1717

Check ebay, that will give you some sence of value

nwcs

Welcome to the board! It's difficult to price something like that because condition is everything. If they are typical, they'd be worth maybe a buck or two. As their state of preservation increases, the value rises dramatically. If you can post a few pics, it'd really help. Taking a look around ebay and comparing similar coins is a good idea. Also, pick up (or borrow at a library) the ANA Grading Standard book. It's only $12 and will give you a good idea of estimating how well preserved the coins are. Once you have that ballpark idea, you can look at a price guide for a rough estimate.

JohnZ

Even in G, common date IHC's are worth a dollar a piece.

nccoin

Welcome to the boards!
The going rate is about 50-75 cents right now on ebay for common date lower grade Indian head cents. I would not trust the person who told you 3 to 4 cents. I am assuming that was a dealer who wanted to purchase them from you for dirt cheap.

friesza

Thanks everyone. I agree about the person wanting them cheap. I knew as soon as he looked at the commerative coin my dad gave me for the panama canal opening ( a gold 50 dollar piece ) and told me it was only worth 100 bucks because there were a lot made. I told him he was full of crap cause my dad had it appraised before he passed away and that it was in the thousands he told me to take it or leave it. The bad thing is I found out just a minute ago its one of the stores that is considered an authorized dealer by this web site. I dont know what to think about that.

kranky

Can you describe the $50 gold coin?

coppercoins

ANY genuine $50 gold coin is going to be worth well over $300 - in the bullions that's the one ouncer.

If it's a Pan-Pac it is worth in the thousands even if it's not in the best of shape. Those things are rare. I would post the shop's name where you went - that's a shady dealer, no question about it. Also find out if they are ANA members and complain to the ANA about them.

Bochiman

Friesza,

Welcome to the board!

Dealers, especially those with a storefront, will often offer you a LOT less than items are worth.
FYI...the redbook is a good idea of worth but is overly inflated. So, take it with a grain of salt and don't get upset if you don't get offered redbook prices.

As for a dealer being "authorized" by this, or any website, it doesn't mean diddly most of the time. No, if they sport the ANA logo and claim to be a member, then I would wonder about it as, to my understanding, to be an ANA member, especially a dealer, is to agree to abide by fairness.

If you don't need immediate money for the items, and you want to get some of the best prices possible for your items, then hold onto them, read this site. Explore eBay, and heritage, and even teletrade for comparable items and their recent prices.

Also, FIND ANOTHER DEALER. The one you mention sounds too much like a local one I visited when I first got back into the hobby (and before I knew about this board).

And, if your gold piece hasn't been cleaned (you didn't wipe it, did you?) then have it sent into ANACS at a minimum, or PCGS or NGC. Get it graded so you can tell someone how it would rate and not just "it looks nice".

Take digital pics of your coins...scans at the least....show them to people here. There are some excellent people on this board who are fair.

Let people know the state/city you are in/near so they can tell you coin shows that are local.....multiple dealers will be there and there may be a few honest ones who offer you something you will take.

Last, but not least, post the dealer's name that lowballed you from the sounds of it.

Again, welcome to the boards!

Ron

XpipedreamR

If this guy offered you $100 for a genuine $50 Pan-Pac, then he is a turd and you should expose him here

The $50 Pan-Pac has close to 2.5 oz of gold, and would be almost $1000 in bullion value alone.

originalisbest

Mind if we see that Pan-Pac?

sinin1

3-4 cents is what you probably can get for Lincoln wheat cents (1909-1958), Indian pennies probably 75cents-$1.50 unless really nice.

The gold piece - is it American or some foreign model?

welcome to the boards!

Neptune

I think it is really sad when folks try to take advantage of other unknowing folks - and they should be exposed. Call and ask him if he is a member of ANA, and report him to them as well.

Baley

Uh, yeah. I remember once I took all these old stamps to a dealer, he said they were only worth less than face value because the biplane was flying upside down. I showed him my roll of $4 gold pieces and he said he would give me $5 each for them, making me an instant 25% profit and I should jump at it.

But I didn't fall for his story, hook, line, or sinker

friesza

Like I said before thanks alot for the info everyone. The pan pacific is octogonal 50 dollar piecewhich as soon as I get a scanner or digital camera I will post on here. The shop in question was called coins plus here in Spokane Wa. I did not like the young man who looked at them. after he told me he woul take everything fo 400 dollars ( I dont want to sell anyway ) and that was a fair price, I asked him what he was smokin and told him he was nuts. I grabbed my coins and started to leave and he told me I would not get a better price anywhere else. I turned around and told him I was goint to report him to the BBB and thats what I did.

mgoodm3

I was lulled by the mundane indian head title. If you've got a pan-pac octagonal lying around that's very cool. In decent condition you could trade one for a couple cars.

mgoodm3

This is kinda a "hey wanna meet my ugly sister, oh by the way my wife is a supermodel" kinda thread.