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Grading Peace Dollars

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MisterT's Avatar
United States
2003 Posts
 Posted 04/04/2022  10:13 pm Show Profile   Bookmark this topic Add MisterT to your friends list Get a Link to this Message Number of Subscribers
In my practical experience with grading Peace dollars, my eyes have always been drawn to the hair above the forehead, the hair around the ear and the cheek on the obverse.
On the reverse my eyes have always been drawn to the shoulder of the wing. These are the areas I concentrate on when determining if a coin is uncirculated or not.

In a book titled "How To Grade U.S. Coins", a step by step guide to the grading of uncirculated and proof coins by James L. Halperin, they illustrate the high points of these Peace dollars as illustrated.

Grading-Peace-Dollars

Then they show which areas are the most severe for marks or blems with red areas being the most severe and blue being the least severe as illustrated.

Grading-Peace-Dollars

According to Halperin, the high points he illustrates are the areas where I should be looking first for any break in luster but this differs from the areas I was always taught to look first, namely the cheek on the obverse and the wing shoulder on the reverse. Have I been looking at this all wrong for 55 years? What do the experienced of the community say about this?
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jacrispies's Avatar
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3848 Posts
 Posted 04/05/2022  01:22 am  Show Profile   Bookmark this reply Add jacrispies to your friends list Get a Link to this Reply
I don't think that in-depth about grading Peace dollars, or any U.S. coin. If it looks uncirculated, get a feel for the amount of contact marks, and assign a grade. There is no specific amount of marks that assign a certain grade, it is just whatever grade you think it fits best. For Peace dollars, my eyes are drawn to Miss Liberty's cheek and the open field, and the eagle's body on the reverse. That is where most of the contact marks should lie.

I never use photograde because it is not consistent with coins that have weak and uneven strikes. The best way to learn how to grade coins is to look at a zillion coins per day. No book can give you hands-on (or eyes-on) experience, but they sure can give fantastic pointers and tips.

Be aware, a coin that is not fully struck can look like a circulated coin. The highest points are dull, because the unstruck portions don't get the luster from the dies. Circumstances like this make grading coins from photos difficult, because you can't move the coin around in the light.
Suffering from bust half fever.
Want to learn how to attribute early half dollars by die variety? Click Here: http://goccf.com/t/434955
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MisterT's Avatar
United States
2003 Posts
 Posted 04/05/2022  01:57 am  Show Profile   Bookmark this reply Add MisterT to your friends list Get a Link to this Reply
I agree that grading from pictures is not the same as grading hands on under the proper lighting and from pictures all we can give is our best educated opinions based upon what we observe. I do have to disagree however with the placement and severity of marks. Surely a considerable mark in a hairline wouldn't be as noticeable as a lesser mark on the cheek or in an open field. Grading consists of surface preservation which carries the bulk of the grade. This includes amount and severity of marks and their locations on the coin. Then there is strike, followed by luster and finally eye appeal. All of these factors can be assigned a number from 1 to 5. There is a formula for assessing a coins grade based upon the numbers you assigned to each category. For example: perhaps a coin has minimal contact marks in not so noticeable areas. You may assign this a 4 out of 5 on the scale. Since this surface preservation makes up the bulk of the grade(you multiply that number X 2 = 8). Then you look at the strike. Perhaps some weakness but not wear and average weakness for others of that date. You may assign that a 3. Coin exhibits blazing luster, you assign it a 5. Coin has average eye appeal, you assign it a 3. Total points equal 19. According to the formula found in the book by Halperin, That would give the coin a grade of MS-64. Is this a perfect solution to grading? Not by any means but is is more scientific than just guessing what a grade should be.
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panzaldi's Avatar
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18645 Posts
 Posted 04/05/2022  10:39 am  Show Profile   Bookmark this reply Add panzaldi to your friends list Get a Link to this Reply
I created an excel matrix for grading MS morgans and Peace dollars years ago using the grading scale in Halperin's book. I use it all the time and it really helps narrow down the grade. all you do I plug in the 4 components for grading for both obverse and reverse and it will give you the grade range. so long as you can assess those components in a 1-5 scale its pretty accurate.

if anyone is interested in a copy just message me with your email address and I'll forward a copy of it.
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