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Why Are Almost All Raw Peace Dollars Cleaned?

 
 
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Pillar of the Community

United States
1102 Posts
 Posted 02/12/2017  10:35 am Show Profile   Bookmark this topic Add LibertyEagle20 to your friends list Get a Link to this Message
This might be an incorrect observation but it seems like a majority of raw Peace dollars are cleaned. I feel like I see many more original surface Morgans than I do Peace dollars. This research is based on what I've seen on eBay. Any insight?
Pillar of the Community
United States
7177 Posts
 Posted 02/12/2017  11:17 am  Show Profile   Bookmark this reply Add numismatic student to your friends list Get a Link to this Reply
I see many original Peace dollars. I think that because buyers aren't willing to pay a high enough premium for original Peace dollars, only problem coins are offered and choice, original coins are hoarded. If Peace dollar premiums would increase above melt, then you would see better coins come to market.
Pillar of the Community
United States
1963 Posts
 Posted 02/12/2017  11:28 am  Show Profile   Bookmark this reply Add coin197 to your friends list Get a Link to this Reply
Pillar of the Community
United States
1450 Posts
 Posted 02/12/2017  12:36 pm  Show Profile   Bookmark this reply Add terry8835 to your friends list Get a Link to this Reply
The thing about Peace dollars is that currently there are only a few of them that are highly collected such as the 1928, 1934-s and 1921. I like the coins but from an appreciation view point I would spend the money and get mint Key dates and leave the others. After collecting for some time I am beginning to feel this way about a lot of coins. Unless you plan to hold the coins for 40 years just buy key dates and maybe they will appreciate in 10-15 years. I have a full set of Peace dollars and except for key dates they go for nothing when you try and sell them. I would buy them only in graded and slabbed condition. I believe that the Peace dollar is under valued in the market and that it may take time but even if you ignore my advice and put a full set of mint coins together that is you can wait long enough it will pay off....maybe. I feel that way about all the coins of the early 20th century especially silver ones. If you bought high grade 1916 LSQ, Mercury dime and 1916-S LWH dollar these coins will pay you to own if you can just wait. Same for Buffalo nickels.
Pillar of the Community
United States
3210 Posts
 Posted 02/12/2017  12:45 pm  Show Profile   Bookmark this reply Add Imthealphaomega to your friends list Get a Link to this Reply
Another point to mention is this: Many Morgan dollars were in bank bags in vaults for decades. Peace dollars weren't stored as much in banks and therefore they circulated more in commerce. Also Peace dollar numbers are far less than all the years of the Morgan dollar. People didn't think they'd be collectible and they wanted them to be flashy and shiny hence polished coins.
Pillar of the Community
United States
718 Posts
 Posted 02/12/2017  1:14 pm  Show Profile   Bookmark this reply Add flag4 to your friends list Get a Link to this Reply

Quote:
People didn't think they'd be collectible and they wanted them to be flashy and shiny hence polished coins.


True . . Cleaning silver coins used to be considered acceptable back in the day.
I'm old enough to remember being told to use a pencil eraser to rub off the tarnish!
Pillar of the Community
United States
2429 Posts
 Posted 02/12/2017  1:51 pm  Show Profile   Bookmark this reply Add Slider23 to your friends list Get a Link to this Reply
Peace dollars typically do not have nice toning, so a lot of collectors in the old days cleaned the toning off to make the coin more attractive. I cleaned my share of Peace dollars in the 60's and 70's when it was an acceptable practice. At that time all my Peace dollars came out of circulation, and a little silver cleaner and elbow grease made the coin look like new.
Valued Member
United States
89 Posts
 Posted 02/12/2017  5:47 pm  Show Profile   Bookmark this reply Add Hunter611 to your friends list Get a Link to this Reply
Question regarding cleaning back in the 60-70's, if that was an acceptable practice then, why is the value penalized now, for that matter, for any coin from pre1900-1950s?
Edited by Hunter611
02/12/2017 5:47 pm
Pillar of the Community
United States
1458 Posts
 Posted 02/12/2017  7:50 pm  Show Profile   Check Andrew99's eBay Listings Bookmark this reply Add Andrew99 to your friends list Get a Link to this Reply
Because its not the current view. The market gives a break to coins from the 19th century as almost all have been cleaned. Truly original coins get a big premium when they come to market. When I started collecting Bust dollars, I was surprised that nearly every coin I saw in TPG slabs has toning over an old cleaning. Its just a given that these coins were cleaned at one time.
The collection is in your mind. Dispose of your albums and free your mind from the tyranny of holes.
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