My Small Peace Dollar Collection. Had #7 all along!

joeykoins

Hi guys,
Yes, although not many (for now), here are my first 4, of many more to come. #4 ROCKS!
Thanks guys.

joeykoins

#5 is Coming!

johnny9434

Nice

ricko

Number four is very, very nice..... Peace Dollars are great coins.... under appreciated IMO... except for the 1921 and the centennial fever. Cheers, RickO

moursund

You disappoint me. I thought you had some small peace dollars...

moursund

@ricko said:
Number four is very, very nice..... Peace Dollars are great coins.... under appreciated IMO... except for the 1921 and the centennial fever. Cheers, RickO

Number 4 is very nice, but isn't really part of the series...

Eldorado9

Nice coins Joey!

You def need to add one of these (Carr)

joeykoins

#5

My first "S" mint Peace.

Better photos later. Thanks guys

BryceM

I see you have the bug! The stupid things are addictive.

I did something very similar to what you are doing. I started with raw album finds and random eBay purchases. After making plenty of mistakes I eventually moved to the slabbed 63-64 range. Eventually I had a set of 24 mint-state coins. Over the next several years each was upgraded, usually multiple times. I learned a lot along the way, but it probably wasn't the most economical way to end up with a great set. I did that in a rising market, so that eased much of the transaction costs of upgrading.

Have you defined the eventual goal? While I like the coins you are showing, I think with a little knowledge and looking you could do better. Of the ones you've shared, I think the 22-S is the best so far. That's a tough coin to find nice. Please keep sharing! It's fun to watch and the enthusiasm is infectious.

Mercury

I agree with everything BryceM said.

I also started off collecting raw coins. Finally sent some in for grading. Learned a lot from that lesson about what NOT to collect. Starting collecting slabbed coins in the low 60's and upgraded over a decade to a set all 64 and 65 coins.

Sold the set off a few years after "finishing" it. Moved on to other sets for a while.
Now I am back to the Peace Dollars putting together another complete set. Doing it all over again. This time I am taking my time and looking for the right coin the first time, not just a hole filler.

Since there is only 24 coins in a complete set it is fairly easy to put a set together but can take years to put together a set where all of the coins have the "Look" you are going for.

Good Luck and enjoy whatever you collect!

BryceM

Larry Shapiro told me you could put together a nice set of well-matched Morgans (say top 20 in the registry) in 6-12 months. To do the same in Peace dollars he said it would be more like a 2-3 year endeavor. I always thought that was interesting food for thought.

joeykoins

After checking the value for this 22s, in a ms 63, it should be worth well over $100? To me, it seems a bargain what I paid, $70, is it not? Seriously contemplating cracking out and dipping it, then sending it to our Host? Thoughts? Thanks

jughead1893

Do not crack it out.For coins at this price level find a coin you like in the holder you prefer.imo

BryceM

No, no, no!

Well, you can if you want, but don't be surprised if the coin comes back in a problem holder or at a lower grade. Even if it goes perfectly, at the end of it all, you've spent 1/2 of the value of the coin trying to make it into something it isn't. If it made financial sense to monkey with the coin and pay additional grading fees, the guy who sold it to you would probably have already tried it. FAR easier to just buy the one you want to start with. $70 is an OK price for this coin. The stuff in the left field is problematic and no amount of messing with the coin will change that.

joeykoins

@BryceM said:
No, no, no!

Well, you can if you want, but don't be surprised if the coin comes back in a problem holder or at a lower grade. Even if it goes perfectly, at the end of it all, you've spent 1/2 of the value of the coin trying to make it into something it isn't. If it made financial sense to monkey with the coin and pay additional grading fees, the guy who sold it to you would probably have already tried it. FAR easier to just buy the one you want to start with. $70 is an OK price for this coin. The stuff in the left field is problematic and no amount of messing with the coin will change that.

Lol. It's just maybe, my positive thinking, the coin could make the 64 plateau. If that should happen, esp. after the dip. Even after the $25 grading fee. Two achievements. In the PCGS holder and if it hits the 64. The value would push near the $200+ range? Remember, I only paid $70. Worth a shot?
Thanks!

gtstang

Have you practiced with raw dollars to see what will happen and what won't happen when you dip a coin?
Sometimes you get good results and sometimes you don't. If you don't rinse properly, it may look ok now but will turn ugly.
Maybe make a want list and post it. I have some listed on bst now and have others I haven't listed also.

BryceM

@joeykoins said:
Worth a shot?

No, in my opinion. The fact that you paid $70 does not mean you got a great deal. How much you paid, in fact, is irrelevant.

joeykoins

Ok guys, thanks for all the suggestions.
I really appreciate that.

Rampage

Excellent start! Looking forward to seeing the rest as your pick them up.

Jimnight

Nice ones!

joeykoins

@moursund said:
Number 4 is very nice, but isn't really part of the series...

That's debatable?

Jzyskowski1

Nice addition. I am with most leave this one alone.
As always I respect your choice. Post the pictures. 😉

joeykoins

@BryceM said:

...The stuff in the left field is problematic and no amount of messing with the coin will change that.

Oh my! I do now see where you're talking about. That's pretty alarming. You may be correct to leave as is. Just solely based on that area? Thanks

braddick

@joeykoins said:

#5

My first "S" mint Peace.

Dang, if it wasn't for those marks and adding more luster that would be an easy MS65!

ChrisH821

Looks nice and frosty which makes the luster grazes stand out more.
I like the long de crack on it.

hummingbird_coins

@jughead1893 said:
Do not crack it out.For coins at this price level find a coin you like in the holder you prefer.imo

Well it does look somewhat dull, and why not send a coin to PCGS? PCGS is better.

joeykoins

New Photos

Jzyskowski1

I’m still voting to leave it as is. That obverse is very problematic. ( By the way nice pictures)👍🏼 The rim/edge 2-4 o’clock reverse is gunna raise some eyebrows.

Project Numismatics

That's a 62 coin . . . which is probably why you got a 'deal' on it. Not going to get that into a PCGS 64 holder no matter what you do with it. Be patient and wait for solid 63's. Assembling a matched eye-appealing Peace set is much harder than most collectors realize.

joeykoins

Obverse Die Cracks

joeykoins

Stay Tuned

for #6!
Hunting for more eye appeal.
Thank You.

joeykoins

My #6

Another 1923p

ChrisH821

Not bad, looks 63/64ish

joeykoins

@ChrisH821 said:
Not bad, looks 63/64ish

Thanks.
Better than my first 1923, huh?

WAYNEAS

Good luck in your future fulfillment for the missing coins.
I would not crack out the NGC '22, as the Beatles sang "let it be".
Wayne

keets

my opinion, arrived at from handling many thousands of raw Peace Dollars, is that the series is one of the most abused in all of US Numismatics. the extremely low relief and poor handling of the coins has left many of them impaired. coupled with initially having weak luster the bulk of all coins made have been rendered to MS63 and lower. not to be harsh towards the OP, but the rush to satisfy the "purchase urge" seems to have led to him picking out some of the more abused coins available. while that may lead to short term gratification, it will probably end in long term dissatisfaction.

seeking advice and direction from guys like BryceM would be a good thing to do. my advice with Peace Dollars would be to buy in the MS64-65 grade range. that may sound price prohibitive, but the end result will be very nice and the higher price will cause the buyer to be more selective about what to buy. one thing about Peace Dollars for me is that the lovely, graceful design can go one of two ways: a clean coin with glowing luster looks beautiful, a dull and marked up coin looks just blah.

slow down, Joey, buy some pretty coins and let BryceM help you.

joeykoins

@keets said:
slow down, Joey, buy some pretty coins and let BryceM help you.

Thanks Keets.

yspsales

I leave for a few months and you found a new addiction.

Grading the Peace Dollar has been a humbling experience for me.

Morgans easier for some reason

BryceM

Personally, I don't think Peace dollars are very attractive below MS64 or so. A nice, correctly graded 65 is really something. Unfortunately, as @keets says, coins like that are few and far between. As for the keys and semi-keys, My top-10 registry set had several issues below gem grade. The 24-S, 25-S, and 28-S are just incredibly expensive at that level.

To pick up a really nice Peace dollar I usually look at 50-100 coins. Some of that is on-line, but mostly in-hand. When looking at coins in the AU58-62 range I probably look at several hundred coins for every purchase. Every once in a while something noteworthy shows up.

Starting with the end in mind is good, but it's difficult to be patient! These days I'm buying about 1 coin every 2 or 3 months. It's been more than a year since I've bought a Peace dollar. I'm trying to be picky and really only buy coins that have something special. In my youthful exuberance, I was buying 1-2 coins a week. Dopamine rush baby. I've sold the vast majority of those since in reality they were just mundane, common coins. Better to buy one great coin every few months than a huge accumulation of junk. If the budget makes your "great coin" an AU58, so be it. Find a GOOD one. If you have the budget to spring for a few expensive coins, that's fine too.

One of the greatest parts of this hobby is that you can have a blast at any price point. Quite frequently the guys dropping 5 and 6 figures on individual coins aren't really having all that much fun.

Thinking ahead also means having a plan for the 34-S. If you're doing an MS set, that one coin is going to require some planning. There's no reason to get to 23 of 24 coins and give up frustrated.

I bought this one at a local show sometime in 2020. I picked through a pile of 30 or so slabbed OGH Peace Dollars and thought this one was the best. I think I paid around $100. There's A LOT of coin here for that price.

gtstang

It's good to know what you like about each coin you purchase. I have some for the variety or unique look that just stands out to me. A clean cheek is important also.
You can find nice coins in lower grade holders and I have seen AU58's that look way nicer than 64's.
Here's three that are all graded MS62. They aren't all beat up looking either like a lot of 62's can be.

jedm

The Peace dollar that I've had in my set the longest was acquired about 18 years ago. The most recent one I added to the set was 4 years ago. I've enjoyed the search and did a few upgrades over the years as well. I love the series and my set will probably always be needing a bit of improvement, which gives me a reason to always be looking at them whenever the whim comes along. They'll be hard to part with. "Sometimes the things you have the hardest time parting with are the things you need the least" Bob Dylan said that. Your enthusiasm is contagious as a previous poster remarked, and that's a good thing for some of us old farts here. There's some seriously nice eye candy in this thread guys!

joeykoins

@jedm said:

...Your enthusiasm is contagious as a previous poster remarked, and that's a good thing for some of us old farts here. There's some seriously nice eye candy in this thread guys!

Thanks buddy!
What? You haven't picked one up in 4 years? Why? Lol

joeykoins

@gtstang said:
It's good to know what you like about each coin you purchase.

Thanks. You think like me. In the sense of buying cheap but still, at the same time, eye catching.
The six I have thus far, are on the cheap. Except for my 2021. Tone! Any toning catches my eye. At any angle. Or certain character quality. Such as, die cracks, clashes and esp. varieties! Sure, let's not leave out any, even slight, luster. Right now, the prices that I'm picking these up for, are very satisfying with the look I LIKE!
Maybe later, I'll dig a little deeper in my pockets for the essential Peace Dollars that the coin hobbyist longs for? Baby steps.
Thanks guys. Thinking about #7!

Project Numismatics

@gtstang - those are awesome 62’s. Takes extreme patience to find those.

lkenefic

I love your enthusiasm but keets has given you sage advice, and Bryce obviously has an eye for this series. It was somewhere between the 2nd or 3rd time I re-entered numismatics that I actually took the advice to "slow down" and really evaluate each purchase before spending the money. At least for me, it was more about keeping focused on my collecting goals while incorporating the valuable information that the more seasoned collectors and dealers share. That said, I certainly had to be mindful of a budget along the way. Peace Dollars get really pricey at MS64 and higher and although your '22-S is in 63 plastic currently... (cool die break notwithstanding) given the amount of chatter in the fields and the weak strike on the reverse (along with chatter at E Pluribus Unum)... I don't think it would make 64. Also, unless you've practiced on a lot of coins, dipping has the potential of stripping off any remaining luster and leaving dead surfaces if you don't get the rinse just right.

I'm often reminded of the adage "buy once, cry once".

Che_Grapes

I have a collection of peace dollars that I collected over time and focused mostly on the Philly dates because they are more affordable and were made from master dies at the “mother ship” and consist of the two main key dates, the 21 and the 28. For a long time I collected only 21s - because they are extremely nice when you can find a strong strike in high relief - but eventually ended up with all dates (in P only). I have one 21 slabbed and one that I tried to grade and came back “cleaned” (most experts in my area still shocked over this - if it was cleaned it was only a very small section of the coin, someone probably trying to remove some debris and causes some hairlines). I described this in another post but either way I sold most of my 21s when the price exploded over the anniversary hype and figured I’d use that to take advantage and maybe have some extra money - but kept the really nicer ones.
Of course what did I do with the extra money?
You guessed it ...

Che_Grapes

Sometimes getting a good photo takes a lot of work but here are a few of my favorites ...

291fifth

Sorry, but I don't think much of your Peace Dollar buys. I think you are overpaying for inferior coins. Your most recent coin, the 1922-S, is, by my standards, an AU55. It has a very bland look, rub on the high points and a lot of small marks. If you paid $70, in my opinion you overpaid. It is a common date coin I would have passed on at any price over bullion.

Che_Grapes

what a bummer on this one:
(28P) Other than the heinous bag mark across the face it is an excellent coin...not a great pic but incredible luster!

joeykoins

Delete

Che_Grapes

@291fifth said:
Sorry, but I don't think much of your Peace Dollar buys. I think you are overpaying for inferior coins. Your most recent coin, the 1922-S, is, by my standards, an AU55. It has a very bland look, rub on the high points and a lot of small marks. If you paid $70, in my opinion you overpaid. It is a common date coin I would have passed on at any price over bullion.

With a due respect I do not agree with this comment at today’s prices. Yes it is a common date but it is uncirculated (not AU?? It doesn’t matter what someone thinks it grades - based on a picture no less - it only matters what PCGS graded it!) but the market currently is very hot and arguably a sellers market. Probably not the best time to be starting a new collection - and I might agree with that - but to say the coin is not worth 70 dollars is in disagreement with the current market. Just my 2 cents. And I know folks who actually collect low mint state peace dollars so there is a market for them as well that is over spot. Although this is a common date it’s not a cull coin.
I think this is an issue with our veteran coin collectors - no patience or appreciation for newbie collectors and then wonder why the space is dying out —