Is It Possible To Have.

Yes, it's possible. Much depends on how the pieces were/are 'stored' (exposure to environmental agents).

In grades of F, VF and XF, it is more likely to have toning natural rainbow toning in the protected areas like around the letters or other protected areas.

Here is an XF rainbow that straight graded XF45 CAC. I talked to JA at CAC and asked him why he stickered the coin? He said, that "the toning in the protected areas can develope natural rainbow toning".


Here is a VF 30 that has rainbow toning is the protected areas of liberty's dress. This example also has a CAC sticker.


Here is a Seated dollar with rainbow toning around the letters graded XF40 by PCGS.

it is possible, but can we see your coin?

Peace dollars do not tone like other silver coins. It has something to do with the minting process. To get a toned coin straight graded by a major TPG it has to be market acceptable to the TPG. You can throw out the natural or artificial because some coins are natural toned and the TPG will not straight grade them because the example does not fit the norm for toning. If the coin doctor is good and can replicate market acceptable toning, the examples can get into TPG holders. The OP example has a lot going against it to get into a TPG holder as it is circulated, and rainbow toning on Peace dollars is not common.