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 Replies: 8 / Views: 2,381 |
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Pillar of the Community
United States
1187 Posts |
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?  |
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Bedrock of the Community
United States
11880 Posts |
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. IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
United States
1963 Posts |
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Pillar of the Community
United States
1450 Posts |
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. |
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Pillar of the Community
United States
3210 Posts |
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. |
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Pillar of the Community
United States
869 Posts |
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!  |
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Pillar of the Community
United States
4468 Posts |
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.
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Valued Member
United States
338 Posts |
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
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CCF Advertiser
United States
1533 Posts |
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. |
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Replies: 8 / Views: 2,381 |
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Posted 02/12/2017 11:28 am
