Silver Commemorative question

gargoyle62

Hey all! Finally made it back..... a friend of mine where I work found a coin that she wanted me to ask you guys about. I'm not exactly sure what she wants to know, but here goes.........

It's a $5 coin, basically the same size of an American "Ike" dollar, silver (I think), and dedicated
"To the Heros of Desert Storm". Dated 1991. On the reverse is "The Republic of Marshall Islands".
This , I assume is the country that minted the coin. (I thought it was an american coin at first for some reason)
The only thing I can think that she'd like to know is if it's worth more than the $5 she put in for it (we get to take any coin we find home with us if we put in whatever the face value is, for it)
I'd like to know where the hell are the Marshall Islands?

I do have a question regarding a couple coins of my own: I've been fortunate enough to find a couple gold coins during my daily routine (an 1861 classic head quarter eagle @ ms-60, and an 1856 indian head,
large head gold dollar @ au-50). Unfortunatelly, both of these coins have tiny holes in them ( for use as necklaces I guess). How drastically does this affect their value?
Thanks for tolerating my verbal descriptions.

lordmarcovan

The Marshall Islands Desert Storm coin, which was all over the TV ads just after the first Gulf War, lists for $5.50 US in the 2002 Krause Standard Catalog (KM#40). According to Krause, it was struck in copper-nickel, not silver. It carries an "R" mintmark indicating it was struck at the Roger Williams Mint in Connecticut. (So you see, it is an American coin, sort of, but it was issued by a foreign government and the denomination would be in Marshall Islands dollars.)



<< <i>I do have a question regarding a couple coins of my own: I've been fortunate enough to find a couple gold coins during my daily routine (an 1861 classic head quarter eagle @ ms-60, and an 1856 indian head,
large head gold dollar @ au-50). >>



1861 would not be a Classic Head quarter eagle, as the last of those were struck in the 1830's. There is a picture of some of my holed gold coins below in my signature line, as of this post. The third coin from the left on the bottom row is an 1856-S Liberty Head quarter eagle, and should resemble your 1861, design-wise. The second-to-last coin on the bottom row is an 1834 Classic Head quarter eagle, so if your coin is really a Classic Head it should look like that (and it won't be dated 1861). Classic Head gold is pretty tough to come by sometimes, even holed.


It will be difficult to evaluate your coins without seeing a picture of them, and as they are holed, they will be worth less, of course. However, they are still worth something, being gold, and I for one actively seek out such coins, for my Holey Gold Hat.
Holed gold dollars generally bring anywhere from $35-55 at auction. The $2.50 should bring upwards of $90-100, and probably much more than that, particularly if it is as high grade as you claim. With the higher bullion prices lately, though, these guesses might have to be adjusted. I would be a buyer on either or both at their melt price plus 10%, and I would pay more if they are truly AU-UNC detailed coins.

Placid

As for gold with holes unless they are a very rare date/mm then they are usually only worth melt when holed.

gargoyle62

Damn, you "guys" are fast!!!

lordmarcovan - that's my bad. The 1861 I have is actually a coronet type (missed that header when I was looking for the type name) and I believe it to be the new reverse. The detail is amazing on this coin, but with a closer look with my magnifying glass I see some slight wear (and the only sign of wear) on the"LIB" on the headband. Right now, I think I'm gonna hold onto them. But I'll keep you in mind if/when I'm looking to sell them.

Thanks again. (And to Placid for the geography lesson)