Beginner’s Rule: Go Buy the Book

Question: I am a beginning collector. I decided to start modestly, so I picked odd varieties of inexpensive coins and would like to pick your mind on one. It’s a silver coin about the size of a nickel (or a shilling, a coin that I am more familiar with because I’m from England). It has a profile of an aristocratic man with long hair and a bow. Inscribed are the words: Carolus III Dri Grati A, 1789. On the other side is a shield with a large crown on top. It’s inscribed Rex Hispana. The last part was hard for me to read. Can you tell me about it and what it is worth?--E.C.

Answer: Your coin appears to be Spanish, although I can’t pinpoint it precisely. Spain was ruled from 1759 to 1788 by Carlos III and from 1788 to 1808 by Carlos IV. So, the Carolus III probably stands for Carlos III, even though he died a year before the date on the coin.

Your coin is probably in the $5-to-$10 range, even though it’s 200 years old. Age is not necessarily a factor in determining the worth of a coin.

Foreign coins are not my strong point. I’m more interested in United States coins. But I can understand how you, being from England, would be attracted to such a coin and its regal bearing. However, I’m struck by the fact that you purchased this coin without knowing more about it. One of the numismatic axioms is: Buy the book before you buy the coin.

In other words, learn as much as you can about your area of interest. Perhaps you want to collect coins from Europe, or coins of monarchs, or coins of Spain or some other country. It’s important for beginners to decide on their area of interest and to locate a dealer or dealers with expertise in that area.

There are numerous coin clubs in Southern California that meet on a regular basis. Some clubs are of general interest; others specialize in specific countries or areas, or in tokens, errors and the like. The Numismatic Assn. of Southern California is in contact with these other clubs. To find one to your liking, contact Richard Lebold, Box 5173, Buena Park, Calif. 90622; telephone (714) 527-0962.

Q: My mother noticed your column and remembers she had brought home a few half dollars. (I had already had some.) I read your article about the value of 1964, ‘65, ’68 and ’69 half dollars. I don’t have any of those, but I do have 1970s and ‘80s. The most interesting is a 1776-1976 Bicentennial. How much is it worth? Also, I have 1956, ’52 and ’39 pennies. How much are they worth?--L.M.

A: Your half dollars, I’m sorry to say, are just worth face value. The Bicentennial is a nice coin, but millions and millions were made for circulation. Some proof and uncirculated silver pieces do have collector value. Your wheat-back cents too are probably just worth face value. You can learn more about coins and values by talking to coin dealers, joining a coin club and reading books on the subject. Some good primers are “High Profits From Rare Coin Investment� by Q. David Bowers and “The Coin Collector’s Survival Manual� by Scott A. Travers.

Coin News

The 100th anniversary of the Eiffel Tower is being observed by France with a new 5-franc coin (pictured) in silver and gold. Silver coins are limited to a total mintage of 80,000; gold coins are limited to 30,000. The coin is part of the “Great Figures and Events in French History� series, which began in 1984. Silver pieces are $45 each; gold $365. To order, contact Union Bank at 445 S. Figueroa St., Los Angeles, Calif. 90071; or PandaAmerica, 23326 Hawthorne Blvd., Skypark 10, Suite 150, Torrance, Calif. 90505.

Coin Calendar

Saturday and Sunday--The Buena Park Pavillion Coin and Stamp Expo will have 80 dealers on hand to buy, sell and trade. The show is produced by David Griffiths and Century Coins in downtown Los Angeles. Griffiths recently sold the finest-known $10 Mormon gold piece, 1849, to a private client for more than $100,000. Show hours are 10 a.m. to 7 p.m. Saturday; 10 a.m. to 5 p.m. Sunday at the Retail Clerk’s Auditorium, 8550 Stanton Ave., Buena Park.

Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.