How do I determine coin condition?

I am packing up my parents’ house and have found a 1914 Denver mint $2.5 coin in a Tiffany box. My mother says it was given to my paternal grandmother in WW1 by an American soldier she treated (she was a doctor and surgeon). A quick Google indicates that it is of considerable value. Looking at photos on Google indicates that it is in mint, uncirculated condition. Of course, America didn’t enter the War until well after 1914.

Now, we are not going to sell it, but I think it should be insured, and the insurance value depends upon the exact condition, so how do I determine the exact condition?

Paging Samclem.

Get it appraised by a dealer? That would seem to be the best way of making sure you have an accurate estimate of its value.

Hard to grade a coin from photos. The odds are, based on the thousands I’ve examined, that it’s either almost uncirculated to MS60(threshold uncirculated). As such, it’s worth between $300-$400 US.

One way to get an approximation is to look at eBay completed listings. As samclem indicated, an AU unslabbed $2.5 gold Indian head runs about $300 (from a quick look at eBay).