A question concerning common peace dollars.

coinfool

I received a small inheritance and the relative was a novice collector/investor. He admitted that he was a terrible investor, but really loved the look & feel of coins. Nothing of great value in the collection. But I was wondering...he left me a bunch of slabbed NGC MS 64 Peace Dollars. I looked them all up and you know the excitement you feel when you just might find a gem amongst rocks--well they were all rocks, so to speak--nothing rare--all common dates. Now I don't mind keeping a few nice peace dollars around, but really, I don't need a bunch of commoners (is that a word?). Here is my question: Do you think, IF silver continues to rise, that common peace dollars will ever increase in value in any significant manner? The book value is about forty bones, but NO ONE is paying that much, that I see. It seems on eBay that they are a dime a dozen, so to speak.

So to you Peace dollar experts out there, what do you think? Are they worth holding onto in hopes that they MIGHT increase in value some day over the rainbow, or would you just dump them off? I know this is not the most exciting topic, but I sure would appreciate some practical advice. Obviously book value means nothing in many cases. A coin is worth only as much as a person is willing to pay, and people aren't paying for peace $$'s. Will they ever at least achieve the status of a Morgan? I think I'm starting to ramble so I'll just shut up now. Night-night.

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stman

I think perhaps you might want to put some value in the inheritance you received from your relative. Too many folks just want to cash in what was of value to someone that thought enough to leave them to you.

But this is human nature I guess. Just my opinion.

coinfool

Actually, I completely agree with you. He had his collection divided into 2 categories. There were those that were dear to his heart, that I would never get rid of, regardless of price. Then there were those that he considered his attempts at investment and even said that those particular coins were of no emotional value to him except to try, perhaps to make a little extra money. He even said that he didn't care what I did with those--sell them, give them as presents, whatever. But he said that if I did anything with his "dear coins" that he would come out of the grave and kick my butt. That's why I said that I would save a few of them, but I really don't need 100 or so MS 64 common Peace Dollars. I'm more of a novice collector--by sight & beauty, not age & value (although my favorite coin is an ancient one), and I immediately added his collection; which had some beautiful coins, to my collection, which I wouldn't sell either. So you really are preaching to the choir, unless you think it is wrong to sell them even if he said so. So I ask my question again. Does anyone think common Peace Dollars will ever amount to anything in terms of value?

wjd283

Honestly,I don't see them gaining any major retirement type value anytime soon.I do think they are becoming more popular though.
I'd put a couple of'em on the bay just to see what they fetch.You may be pleasantly suprised.IMHO.

PutTogether

Here's what I feel about them.

There is more to common than just date. Peace dollars have a tendency to be splotchy and speckly colored, be hit up by bag marks very badly, and get this nasty copper rash looking stuff all overthem. Common dates that look like what I just described will never go anywhere impressive (i dont think) as far as numismatic value. Their price rising because of silver rising is an all together different issue, but silver will never be expensive enough to give the coin a huge value. so the real question is, what do your dollars look like?? If they are pure white, no color changes (unless evenly toned and attractive) then its quite possibly the have a decent value and will continue to appreciate. If not, get some cash for them and do something else with it. If that is, you have no emotional attatchment to the coins.

Please note, I've also sent you a PM

Dog97

<<<Do you think, IF silver continues to rise, that common peace dollars will ever increase in value in any significant manner?>>>

No. Being that a Peace Dollar only has 3/4 oz of silver in it the usual peaks & slumps won't make any difference unless it goes to $50 oz like it did years ago but then they will only be worth $40 silver value and they are already worth that now. If silver did skyrocket, sure there would be some pressure to increase the value overall on all silver coins but it will affect the better dates & grades more & not much will trickle down to the common stuff.

mrfred

I am inclined to agree that these coins won't trend up. I am a big PD fan (see my icon at right); it's my favorite U.S. series, but not so much because of its collectibility. I think it is a beautiful coin, and it has a lot of unusual history. For example, did you know that DeFrancisci (the designer) had his new young wife as the model for Ms Liberty, and that he posed her in front of an open window to get the hairswept effect? That story is in the VAM book. I am also impressed that once -- only once -- our country had the ethical guts to put the word "Peace" on a crown-like coin. So, what do you do with them? If you are interested in earning money from them, you probably are as well off selling them now as waiting. But if you want to make a point about U.S. coinage, and maybe get some others interested, set up a program to give them away at schools or churches to kids. Tell the story of the PD and it's background. Tell how it celebrated the end of The Great War. Tell about the designer's wife and the open window. And tell how it is the only major coin in the 20th century by a major world power (I believe I have this right) to celebrate and state 'Peace'. As we move forward in an increasingly unstable world full of violence in all shades, surely that is a message worth sending.

dorkkarl

<< <i>I received a small inheritance and the relative was a novice collector/investor. He admitted that he was a terrible investor, but really loved the look & feel of coins. Nothing of great value in the collection. >>

1st of all, that's a terrible attitude to take. if the relative "really loved" coins, then he got PLENTY of value out of owning them - just not financial value. so to say there's nothing of "value" starts you out immediately on the wrong foot. you need to remember that your uncle (or whatever) ENJOYED owning the coins, & THAT has VALUE.

so the solution is simple, since the only value your concerned with is financial (& that's ok btw, you just shouldn't judge the worth of what was someone else's coins based strictly on what YOU care about), you should slap those coins on ebay immediately, forget about it until they close, & be happy w/ whatever $$$ they bring. then, go & buy something YOU will enjoy owning.

K S

coinfool

Hey DC,

You missed my point because you didn't read my second post after I received a similar rebuke. Here is a quote from post # 2:


<i>There were those that were dear to his heart, that I would never get rid of, regardless of price. Then there were those that he considered his attempts at investment and even said that those particular coins were of no emotional value to him except to try, perhaps to make a little extra money. He even said that he didn't care what I did with those--sell them, give them as presents, whatever. But he said that if I did anything with his "dear coins" that he would come out of the grave and kick my butt. That's why I said that I would save a few of them, but I really don't need 100 or so MS 64 common Peace Dollars.</i>


You will notice that HE said there was a group of coins that were NOT dear to his heart. They had no emotional value to him. I clearly said that I kept that which was important to him and always will, and am doing EXACTLY what HE said. You need to read what I say before you decide my "attitude". I cherish that which HE cherished.

CF

coinfool

For those of you who are ignoring my question and concentrating on judging my "poor attitude", I have 2 things to say:

1. First of all, please read the second post that I have written on this subject since it clears up your problems, at least according to my relative it does--so if you still have a problem, then it is with him. You just need to read ALL that I say.

2. You neither know me nor the circumstances surrounding the situations involved and since this is a coin forum, why don't we keep the comments to coins rather than personal judgements of which you know very little about. The wisest way to make judgements is to know as much of the information as possible, besides this is not a "Psychology Forum", it is a coin forum, so let's just stick to that. Fair? I think it is. (since you cannot hear my tone because It is just writing without body language and hearing the way things are spoken, I say this without hostility in my heart, I'm just trying to stick to the subject and what we are here for. Besides, I did explain your judgements.

Thanks,

coinfool

Peaceman

About 7 months ago I saw a post from David (or on this site) that he didn't think that the common dates would ever move... ever.... because of the sheer volume of examples out there. That was then, this is now.... Just 6 months ago, MS65 common dates were selling at high 70's.... you can now buy them at around $ 129.... not too bad of a return......

MS-64' however haven't followed suit as they are a dime a dozen.... supply and demand.... It is my believe that demand will never reach the supply at this level..... so, you are down to keeping them for the silver content as an investment and keepsake.

Personally if I had over 100 MS64 that someone left me and told me what they'd like me to do with them, I would most likely sell the one's he thought were of no value but cherrypick the best ones out first... maybe 10 or so (if it's worth it). I'd send the best one's in for regrade and then sell them. With all of the proceeds, I'd buy the coin that mattered to him the most or one that they talked about all of the time and keep that coin for my own kids some day and explain to them who that person was and what they meant to you.

I still have some old worn common date Peace $ that my grandfather handed to me that I wouldn't sell for $ 1,000 each......

Dog97

Ok thanks for the lecture coinfool.

PeaceLover

What Peaceman said: there are way too many MS64 common dates around, just like '81 S Morgans in MS64. The exception may be coins with outstanding eye appeal.






<< <i>
I still have some old worn common date Peace $ that my grandfather handed to me that I wouldn't sell for $ 1,000 each...... >>



This sounds familiar, Peaceman. I have 3 that my Grandfather gave me that are kept in a special place, and are what got me into collecting them many years later....

Barry

Baley

Hi coinfool, IMO your MS64 common date peace dollars will not provide the return nor enjoyment that other coins would, and my advice would be to sell them a few at a time on ebay and use the money received to buy more interesting coins for your collection. Save the "cream of the crop" and diversify the rest into something rarer, more interesting, and like others have said, something you can in turn pass on to you heirs.

Agflyer

Something else to consider are the possibilities of finding VAMs. Who knows, maybe there is a "hairpin" or a "tail on O" variety that might carry a premium over just the common date Peace dollar? It might be fun to cherry pick your own collection .

BTW, I've always thought that the quote in your sig line is pretty funny .

Peaceman

Like the Hair pin I have for sale

dorkkarl

hey coinfool, gimme a moment to remove my foot from my mouth!
(gfrrmhpphmhmwphm grmhp ....)

basically to answer your question, no. dump 'em.

K S

coinfool

Hey DorkCarl,

No Worries Mate!! No worries at all. I, as usual, have learned more from all of you that is very helpful. As I said in a post earlier--maybe by the time I'm 956 years old I can be upgraded (crack me out and re-submit me) to a coinfool58 Hey that kind of upgrade could bring me some respect Anyway, enough fooling around--thanks for the help all!

stman

When I replied to your post. You had not clarified what was important to this relative or not. You only mentioned money and should you dump them. You say get the facts first before judging? I did not judge you, just gave an opinion from the heart. You then clarified yourself in your second post. Which you didn't need to do.

If you ask for opinions on a public forum you're going to get them. Myself, I rarely give my opinions on these types of threads and will make sure I keep it that way with your type of response. You say this is a coin forum and not a psychology forum? True, but I didn't know this was an investment advice forum for someone looking to "Dump" an inheritance. Just so you can see my tone I will put a in here. And basically I could care less what you do with this inheritance. Good luck to you and like Dog97 says... "Thanks for the lecture."