My First Peace Dollar!

A polished coin is a cleaned coin.
If the LCS told you that an AU details, polished 1926-S peace can sell for $85, I wouldn't trust that dealer too much.
You should have offered it for $50 -- going over $30 for a polished Peace dollar, unless it's a key date, is very rare.

You can buy common date, non-cleaned MS peaces for about $50. Higher MS grades can fetch a pretty penny, but not all MS coins.
I can see how you can say that peaces are rarer than morgans, as the Peace dollars lasted for a shorter time.
IMO peaces are really "grade rarities," with some dates fetching big bucks for higher MS grade pieces.
But, even the key dates in the peace series could be aquired for only a couple hundred dollars in lower circulated grades, like the 1928 peace;
however, the 1893-S Morgan dollar, the key date of the morgans, fetch at least $1000, even for coins in the bottom of the sheldon scale.

Here's a 1926 s that looks polished.

http://www.ebay.com/itm/201086447783?nav=SEARCH

It's at 34 if you include shipping. And there's an hour left to bid.

http://www.ebay.com/itm/23122118505...TCHING_ENDED

Here's another one. Obviously polished that sold for $60.

I think I could easily make a profit off my coin.

Yeah. I've been on this site for three days. Been coin collecting for 3 months, but I can see with my own eyes that these coins sell for more that what you guys are saying.

Low balling the first old coin I've ever bought is a bit of a jerk move though.

I doubt if most people bidding on auctions on ebay are looking for old dirty coins as opposed to shiny ones. They may not be long time collectors, but rather people buying something because it's pretty and shiny.

And if this coin is only worth 20-25 dollars, why did my lcs tell me different? Why do coins in this condition regularly sell for $35, $45, or even $60 on auction sites? I've noticed from reading other posts in the forum that most of the members are overly critical of coins, and tend to grade them at least one or two grades below what they actually are.

I agree with the majority here (before reading the responses), it definitely appears to be AU details, polished. But I would like to see some better pics just to be sure, preferably head on shots with good lighting... Though your pics aren't horrible and it definitely appears cleaned.

Nobody is trying to be a jerk, nor "undergrade" your coin... It is what it is. People are saying this to try to educate you as to what to look for so you don't overpay in the future. We've all made mistakes so I wouldn't take it personally, use it as a learning experience...




Unfortunately that statement isn't true in the very least, not even close. I'm curious as to where you heard this? ... It's Very easy to find MS Peace dollars, uncleaned and with booming luster for quite cheap, especially when compared to Morgans. You don't see them as "often" or in the quantity you see Morgans, but not because they're "more rare", but rather because they don't have "the following" that Morgans do as they are are arguably the most collected coin on the planet.

But again, you can pick up Peace dollars (aside of the keys/semi keys), uncleaned and in low/low mid MS for $35-$50 all day. Some people sometimes will pay more on sites such as ebay etc for a "shiny" coin... But those are either auctions with horrible pics and the coin will end up being returned after the buyer sees it in hand, or just someone who doesn't know what to look for and grossly overpays.

And sure... Peace dollars do sell for more at times. The price all depends on the grade and wether or not it's been cleaned, artificially toned, damaged etc, or is in an unaltered condition.

Again, you probably see some 26-S's selling in the hundreds of dollars.... Such as the one you posted the link too... But it's not only MS opposed to AU, but also it hasn't been harshly cleaned.. Unfortunately unless you sold this to someone who's really not into coins and has no idea what they're looking at, not to sound rude but you'll have a hard time making your money back if you try to sell it. If the LCS offered said this coin was worth $85 then I agree 100% with Matteproof... Steer clear of them. If they offered you even $50 for this coin I'd jump all over that in a heartbeat. And honestly if that's truly what they said they may not be the best shop to do business with. You may get $35 on ebay for this one... But I don't see much over that unless it's a completely uneducated buyer... Make sure you have good pics though or you may be looking at a refund.

But again, as mentioned, if this is for your collection, and you like it then who cares... Chalk it up as a lesson learned and move on... It's really not a big deal, like I said we've all made mistakes when we were starting out

I'm sorry you don't like our CCF members' honest responses to your post.

There are some VERY qualified experts here and you asked (I assume) for an honest opinion of your Peace dollar. And that's what you got.

If you're going to be a long term member of this Forum you will have to accept that an honest response is what you're going to get here.

When I started numismatics, I found what I thought was a clipped planchet Jefferson nickel in a roll.
I then asked some of my expert buddies if it was a genuine error. Nope, it turns out to be a damaged nickel.
I wanted to deny the fact that it was nothimg more than a nickel with PMD.
But there were too much evidence, clear evidence that the coin was not an error. For example, one guy pointed out that the coin doesn't have a blakesley effect. When I stopped denying and looked at the facts, I learned new things.
I think you should accept the fact that the coin is indeed polished and it is supposed to sell for less than non-cleaned coins. And that common-date peaces in your coin's condition cannot go for $85.
Very devoted experts around here. I advise you to not take them personally, but learn from the replies.