Germany Baden 2 and 5 Marks 1875 to 1902

This coin is from the old German State of Baden. It was minted after the German Empire congealed under Otto von Bismarck in 1871. Both zwei (2) and funf (5) mark coins were issued, with catalog values roughly as shown below. These coins can never be worth less than their silver value (see kitco.com).

ZWEI MARK BEFORE 1889 (28 mm diameter, 0.321 troy ounces silver)
worn: $50 US dollars catalog value
average circulated: $150
well preserved: $900
fully uncirculated: $2000

ZWEI MARK AFTER 1888
worn: $35 US dollars catalog value
average circulated: $100
well preserved: $400
fully uncirculated: $1500

FUNF MARK BEFORE 1889 (38 mm diameter, 0.804 troy ounces silver)
worn: $50 US dollars catalog value
average circulated: $100
well preserved: $1000
fully uncirculated: $4000
5 mark coins dated 1888G with a normal A in BADEN and not an inverted V, are more valuable - multiply these values by two

FUNF MARK AFTER 1888
worn: $35 US dollars catalog value
average circulated: $80
well preserved: $300
fully uncirculated: $2000
5 mark coins dated 1891G with an inverted V in BADEN and not a normal A, are more valuable - multiply these values by two

The coin in the picture comes from Kunker and is selling for $1243 US dollars on their web site. It serves as a basis for the important discussion below.

Catalog values for these coins show a very sharp dependency on condition. This is not always the case, and some coins are valuable in any condition, but the value of most coins depends on their condition, and with these coins the dependency is extra strong.

Another very important factor in the value of this coin is whether or not it has been cleaned. In the second picture, the coin on the right has been cleaned and is worth far less, perhaps $100, than the coin on the left, which is a $1200 piece. Do you see the difference between the two coins? Look especially at the amount of detail in Von Baden's mustache and beard. The coin on the right has obviously seen circulation. The wear is apparent. Someone, in an effort to fool novice collectors, polished the coin with silver polish and gave it a uniform shiny surface. To a seasoned coin collector, the cleaned piece looks unnatural and is worth essentially zero. Most coin collectors do not mind the fact that a coin is worn, but they despise artificial cleaning. It's just one of those coin collector things!
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