1923-S Peace Dollar MS65 Question
Portross
Posts: 85 ✭✭✭
I wanted this 1923-S Peace dollar for my set, it sold for $7156 all in at GreatCollections with a price guide value of $2400 in MS-65 and $16,000 (!) in 65+. I know this date is hard to find nice, this was way more than I would pay. Was it the sticker, or the possibility of getting that valuable plus if resubmitted?
First photo is the listing, second the Trueview. Worth it? Thanks for your opinions.
https://www.greatcollections.com/Coin/1177204/1923-S-Peace-Silver-Dollar-PCGS-MS-65-CAC
0
Comments
Worth is very relative and IMHO demand surpasses limited supply for low population …..
For me …. I think it’s worth it regardless the sticker that’s only if I have 10K to blow daily.
I see quite a few more affordable MS 64 or one with the + sign for your fancy at less than $500
Be patient & have FUN! ☺️
Of course we don't know what the bidders were thinking but that one appears to be due to the cac. I say this because the CPG is $2620 but with a cac it is $6120. Also the pcgs auction results only has 4 on the sort at 6169, 3600, 7931, 5875. Since most of them that sell are non-cac the pc price guide is most likely representing that at 2400 and similar to the CPG.
https://youtube.com/watch?v=wwmUMvhy-lY - Pink Me And Bobby McGee
.
https://youtube.com/watch?v=D0FPxuQv2ns - Ruby Starr (from 'Go Jim Dandy') Maybe I'm Amazed
RLJ 1958 - 2023
Well CAC's willing to pay MS65 money for it. Which is $2400 right? From those images it looks maxed out grade wise.
You could still grab this 65 for about 1/3 the price of the CAC'd example. collectorscorner.com
Another example of someone burying themselves.
Thanks for your comments. Most of my San Francisco peace dollars are attractive 64’s, hard to justify the price jump to get a 65 that (to my eyes) often doesn’t look that much better. I have a few that I bought several years ago, this former 64 was sent to our hosts and upgraded.
I've always bought nice coins for the grade at the grade level just below a huge jump in price. Ie., a nice MS 64 With Motto Seated Dollar rather than a just made it MS 65. I can live with the additional tick mark in the obverse field.
As you also know, grading is an opinion. An expert opinion, but an opinion nevertheless. Experts don't always agree.
Lastly, it has been my experience that it has been much easier to get an attractive coin stickered three or four years ago than it is now. So opinions about stickering coins are about expert opinions as well. See the preceding paragraph.
Most coins aren't truly rare. You can get a 1916 P SLQ in pretty much any grade at any time. If you're going to write a blank check for a coin, I think it should be for something that you won't see for at least another five years.
"Seu cabra da peste,
"Sou Mangueira......."
I can tell you exactly why that sold for "moon money".
Coin values are a continuum, because coin quality is a continuum. When there is a small price jump between grades, then coins that are strong and weak for the grade will trade at similar prices. When there's a huge jump, it's easier to value coins differently based on quality.
For an example, let's say a coin in 65 and 66 go for $1000 and $1200, respectively. If a nice 65 gets too pricey, you might as well get a 66. Even if it's not a great 66, if it's nicer than the nice 65, then it should still be worth more than the 65.
On the other hand, if a 65 is $1000 and a 66 is $20,000, then a really nice 65 may not touch 66 money, but there's plenty of room to say that a nice 65 is worth far more than a mediocre 65, so now the nice one is $5000 or $10,000.
CAC and the plus grade may help set quality standards (or more intermediate prices) but I imagine that's what's happening here. And of course, if a coin has one or more qualities beyond just "it's nice for the grade," such as great lustre or a really sharp strike for the date, then those qualities also play into value.
Not a coin I would have even bid on since it's not stable due to dip residue that wasn't neutralized properly now turning in the newer pronged holder.
I think I would have passed due to the spot right in the middle of the wings. You can find a MS64 you will like just as much if not better and save thousands in the process!
The OP coin is a nice 65 but not "PQ" nice, especially with the toning splotch on the reverse, and certainly not $7k nice IMO. This one sold last month for $2,880 at Heritage and is nicer IMO:
https://www.pcgs.com/cert/35736169
The TrueView makes a better picture and I wouldn't expect the coin to look like the TrueView nor be appealing to me.
It's lucky you miss out on this one.