Indian Head $2.50 gold quarter eagle (1908–1929) melt value

The design is sunk into the coin instead of standing up from it, so the highest point is the flat area around the design, not the portrait. The front shows a Native American man in a feathered headdress facing left, with LIBERTY above and the date below. The back shows a standing eagle on a bundle of arrows. It is small: 18 mm across, about the size of a dime, and weighs about 4.18 grams. Most dates were struck in Philadelphia and have no mint mark; the 1911-D, 1914-D and 1925-D have a small D on the back. None were made from 1916 to 1924. The 1911-D is the key date and is often faked, so have one checked by a coin dealer or grading service. These coins are among the most counterfeited US gold coins, so buy and sell them with care. The larger Indian Head $5 half eagle has the same design at 21.6 mm.

Dealers need room to cover refining, shipping and resale costs, so most pay a percentage of melt value for common-date coins.

US rules prohibit melting one-cent and five-cent coins. That rule does not cover dimes, quarters, half dollars, dollars or bullion coins. Most people sell coins whole to a dealer rather than melting them.