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1921 Peace Dollar Question

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Dawg51999's Avatar
United States
80 Posts
 Posted 03/22/2012  7:52 pm Show Profile   Bookmark this topic Add Dawg51999 to your friends list Get a Link to this Message Number of Subscribers
I recently purchased a Whitman Peace dollar folder and while looking at the mintages I was surprised that there are several issues with mintages lower than the 1921. That being so why is the 1921 the key date to the series and command a higher premium than other lower montage years? Were alot of the coins that were minted in 1921 never released?
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nod2003's Avatar
United States
3294 Posts
 Posted 03/22/2012  9:00 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list Get a Link to this Reply
That is an interesting question. I am not sure on the answer, but my guess is it is because 1921 is the only year where the high relief design was used. Also, the 1921 is not really the key date to the series, that would be the 1928P or in higher grade, the 1934S, but yeah, it does have a higher mintage then the near common date price 1927P coins as one example.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 03/22/2012  9:31 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
What you're looking at here is proof that price is a function of both supply and demand. 1921, being the only high relief Peace dollar, is desired by both typeset collectors and series collectors, as well as those who want "key" US coinage. All the other Peace dollars, by and large, have only series collector interest. With that said, a 1928 is pricier in-grade than a 1921, as is a 1927-S in Mint State, and 1934-S is pretty much prohibitive in Mint State - they must have circulated heavily.

The one that makes me is 1927-P. The second-lowest mintage in the series, and they're downright cheap (relatively speaking) until MS65. Most of the issue must have survived, leading to a theory that west coast coins circulated more.
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Dawg51999's Avatar
United States
80 Posts
 Posted 03/22/2012  9:39 pm  Show Profile   Bookmark this reply Add Dawg51999 to your friends list Get a Link to this Reply
Thanks for the response. I didn't know the 1921 was minted in high relief and the rest were not. You can learn something around here everyday!
Edited by Dawg51999
03/22/2012 9:42 pm
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Darth Anarchus's Avatar
United States
1388 Posts
 Posted 03/22/2012  9:42 pm  Show Profile   Bookmark this reply Add Darth Anarchus to your friends list Get a Link to this Reply
... And another factor is seeing the high relief that they did in 1921... It is absolutely stunning, and I don't think the words "high relief" even do it justice... The features are absolutely monstrous, and compare in relief to even the high relief St.Gaudens...
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perfessor's Avatar
United States
927 Posts
 Posted 03/23/2012  01:33 am  Show Profile   Bookmark this reply Add perfessor to your friends list Get a Link to this Reply
I don't have a 1921 Peace dollar yet, but I plan to get one soon. And it is because of the high relief that I really want one, and I am willing to pay more for it. I am sure that I am not alone.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 03/23/2012  05:58 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Keep in mind, these aren't hard to find - they're just hard to find well-struck. Hair detail is usually lacking, and the reverse is usually flat at the bottom of the wings just above the legs. Like most Peace dollars, luster is problematic as well.

It's worth holding out for a nice one, even in grade. For my money, AU is a nice place for this issue.
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