What's A Fair Price For A 1911-S Half Eagle?

As gold is soft, and the mint mark is raised and so close to the edge, I see a lot of these where the mint mark is barely discernible.

What is a B&M? It makes a dealer give your money back if it's fake? How will anyone know if he sold it to you?

B&M = Brick & Mortar (shop). While there is no guarantee that a B&M would have to give you your money back, their reputation is very important to them, especially for keeping repeat customers like me. They don't want to get caught selling coins that are not as advertised (or worse yet, fake). Both the dealers I've worked with in my city are outstanding. One gave me my money back without hesitation when I suspected a coin may have been cleaned. The other is very good about pointing out anything that could cause a specimen to get a details grade--he's pointed out defects that I couldn't even see under magnification. Since I don't shop online and prefer to limit myself to B&Ms, I don't have much to choose from, but I feel pretty confident about all of my purchases. I'm learning quite a bit from my dealer and maybe after I get some more experience I'll delve into ebay a little.

Oh, and thanks for all the feedback from everyone so far, I'll keep you posted...

Going rate at Heritage for slabbed XF's is well over $400; I'd call this one a fair deal if you like the coin's appeal. It's the second-most common Indian $5, though, and not going to be particularly liquid so buy it to keep.

SsuperDdave, I saw that this was a very common date which is why I found so many of the ebay listings in fioti's link entertaining: "scarce date", "rare", etc. I gather that this is par for the course on ebay! I am considering it primarily for my type set (already have an AU Indian head quarter eagle), but thanks for the note on liquidity because, although I'd purchase it for my collection, I have been know to upgrade some pieces if I come across nicer specimens.

If you are confident that it is XF40, then for a certified/slabbed one:

PCGS retail = $580
NGC/numismedia retail = $444
numismedia wholesale = $370
other wholesale = $360

I tend to target the wholesale prices as they approximate grey sheet and that is what dealers use as a guideline.

It being raw ( and thus possibly cleaned or ungradable ) you might want to be even lower than wholesale into it.

$395 certainly isn't horrible given the ebay sales of raw ones and the wholesale range for slabbed. It isn't any great bargain though either. I'd certainly haggle it down if I were you! Most dealer's have at least some wiggle room built-in to their sticker price.

ebay sold coin history coupled with Heritage pricing guides ( where I found the above ) and auction history provide a pretty good idea for as good an approximation of most coins FMV as can be easily found - IMO and experience!

Others will say it is worth whatever you are willing to pay and other completely unhelpful YMMV nonsense! LOL

Thanks for all of the input, everyone. It has been very helpful. I think I'll pass on this for now and see if an AU specimen shows up in the shop. I'm sure one can be had for not much more money and it will be a nice match for the AU Indian Quarter Eagle I already have.

thq, the mint mark seems strange when you see it in hand doesn't it?! But it makes perfect sense as it is the only raised feature and it's near the rim to boot! I just love the recessed design for these quarter and half eagles though, it's so unique among US coinage. Glad to know the price my dealer was asking seems in line with what you have seen. Incidentally, I was in his shop this afternoon and the 1911-S had sold. I'm glad I didn't buy it, I'm sure a nicer one will be along soon for not much more money.