Proof Peace Dollars ?

I,ve heard of those.The `21 and I believe 1922 both Matte-Proof?
Value?Tens of thousands.
Maybe 100 grand or more if Adrian had one rainbowed and slabbed.

Mintage of Proofs
1921 est. 15
1922 est. 10
Proofs come with matte and satin finishes in about equal rarity.

Very rare coins indeed.

If I,m not mistaken,I think I,ve seen one and in a picture its hard to tell its a Proof coin.
No mirror fields or cameos.They,re Matte-Proof so they have a satiny finish overall.
The `98 S JFK Matteproof probably has a very similar look as to the surfaces.

<< <i>Has anyone here ever owned a proof peace dollar ?
I have seen pictures of a few,but never one in person.

Values anyone ?
Thanks,Larry >>

, yes , a 1921 about 20 years ago, i beleive heritage also has one coming up on one of their auctions.

A set was broken up and all coins had multiple bidders. K

The proof Peace $'s were all struck in high relief...like the 1921. Thus not too hard to tell a 1922 was proof...even if VF. K

Nic,
Yep - That's what PCGS seemed to believe as well. Interestingly, there were about 30K high relief business stikes produced, but they were all melted. There was some discussion that maybe this was a regular strike that slipped out. But PCGS went with the spent proof theory.

And just to be slightly contrarian... you may not know a 1922 $1 proof from the relief. Check this out. I can't link the pic because it includes my SSL ID in the URL and would give access to my private info at Heritage:

1922 S$1 Low Relief Satin PR65 NGC. This is a very unusual coin and quite frankly, this is an issue we have no acquaintanceship with. All we can really do is repeat what is in the literature and relate what we see on the coin itself. The coin has a most unusual appearance, unlike any other 1922 Peace Dollar we have ever encountered. The surfaces have a bright, satiny finish and each side shimmers and glows with a mint sheen that is completely different from that seen on a regular issue, low relief 1922 Dollar. Compare this coin side-by-side with the MS67 1922 Peace Dollar several lots above. The difference in the two finishes is profound.
Breen notes that the Low Relief Satin proof strikings show no mint frost, no "cartwheel," which he describes as 'cold flow radial lines.' He compares these coins to the 1921 satin proofs, and indeed there are many similarities in finish and overall texture between the two coins. He also notes that the rims are built up more strongly than on business strikes, and the inner coronet line is exceptionally strong. Full striking definition is seen on the central hair, full feathers are evident even on the upper wing and breast. The lettering is all noticeably higher contrasted with the fields than on business strikes, and the edges of the letters are more sharply defined.
Predictably, Wayne Miller had several pointed and thought-provoking comments in his 1982 book The Morgan and Peace Dollar Textbook (pages 243-244). In his opinion, the Beck-Riethe coin was not a Satin Finish proof. However, the piece in Steve Ivy's Herrman Sale in 1979 was a proof striking. The last paragraph of Miller's entry about this curious proof is quite interesting and we reproduce it here as it compares and contrasts the Satin vs. Matte strikings of this year:
"Although satin finish 1922 proof Peace dollars are much more rare than the matte proof variety, the latter will probably always bring a higher price for the following reasons: First, the matte proof variety has been known and documented for a much longer period of time. Second, the high relief of matte proofs makes them more desirable. Third, the satin finish proofs are not mentioned in official mint reports. They thus lack official sanction. Fourth, since there are only three satin finish proofs known, they lack the exposure necessary to command a price commensurate with their extreme rarity."
Wayne Miller's above comments should also be placed in the context of the time in which they were written. In 1982, condition was king. It wasn't until several years later that rarity began to replace condition as the primary factor that determined a coin's desirability and price. Additionally, third-party grading was not the market force then that it is today. Which all means that even though the Satin Finish coins are struck in low relief, their absolute rarity offsets this in today's market. Thus, this Satin Finish proof should command a price at auction that is in line with its extreme rarity and Gem condition.
Each side is attractively toned with a smoky-gray patina that shows speckles of deeper russet on each side, but especially around the word DOLLAR on the reverse. There are no obvious contact marks on either side, which makes the pedigree of this piece difficult to trace, and we, unfortunately, do not know which of the five known pieces this one is. This is an extremely rare opportunity for the specialist to purchase a coin that is very seldom offered for sale at public auction.

Here is some info on themlink1 &link2

Thanks Blade. Low reliefs had slipped my memory. Also, there is a dealer who feels he has an unc., high relief 1922...purchased from a major sale (? Garrett or Norweb). Recently a circ. (?) example reported as well. Perhaps these are part of the 30K business strikes? K

@RogerB I heard that to be true as well...

@RogerB said:
There are sandblast proof 1921 and satin proof 1921,
Sandblast proof 1922 HR, and
Sandblast proof 1922 MR; then
1922 sandblast low relief.

I recall reading something like that from the 3rd Edition (2016) of "The Red Book" "A Guide Book of Peace Dollars."

FWIW, in response to the OP's 2002 original question, I have had a 1921 satin proof for a number of years that was sold to me as such. I never bothered having it sent to PCGS as at the time I acquired it PCGS apparently was not certifying them. Maybe they still aren't? In any event I grabbed a copy of the 3rd Edition of Roger's book that came out last year as evidence that such an animal does exist.

They certainly don't come up for auction very often.

Here is a Heritage link for the Jack Lee 1921 Peace NGC PR66

http://coins.ha.com/c/item.zx?hdnJumpToLot=1&amp;saleNo=1201 &amp;lotNo=5344&amp;x=0&amp;y=0

...and a few TrueViews;

http://www.pcgscoinfacts.com/Coin/Detail/87382
http://www.pcgscoinfacts.com/Coin/Detail/7383

@yosclimber said:
Links to completed auctions for Proof Peace dollars, from PCGS Auction Prices Realized:
https://pcgs.com/auctionPrices/details/1921-peace-matte-finish-pr/7382/7382 (includes Satin finish examples)
https://pcgs.com/auctionPrices/details/1922-peace-matte-finish-high-relief-pr/7383/7383 (includes record price $458k in Baker sale)
https://pcgs.com/auctionPrices/details/1922-matte-finish-low-relief-pr/7380/7384
https://pcgs.com/auctionPrices/details/1922-modified-high-relief-production-trial-j-2020-pr/507958/97384

Seems to support my above stated belief that PCGS has not yet certified any 1921 Proof Peace Dollars, Matte or Satin. Any thoughts on whether that will change?

My prior post:

@RogerB said:
There are sandblast proof 1921 and satin proof 1921,
Sandblast proof 1922 HR, and
Sandblast proof 1922 MR; then
1922 sandblast low relief.

I recall reading something like that from the 3rd Edition (2016) of "The Red Book" "A Guide Book of Peace Dollars."

FWIW, in response to the OP's 2002 original question, I have had a 1921 satin proof for a number of years that was sold to me as such. I never bothered having it sent to PCGS as at the time I acquired it PCGS apparently was not certifying them. Maybe they still aren't? In any event I grabbed a copy of the 3rd Edition of Roger's book that came out last year as evidence that such an animal does exist.

Here are a few more photos

die swirl on her cheek

And look at those cheeks. Wow. Nice 1st post and beautiful piece dollar.

Thank you very much for the feedback so far everyone! And @FadeToBlack, the swirls under the chin is there, but hard to capture for some reason?

Here's one that shows part of polishing under the chin:

Polishing In the left field:

Polishing above the Bun area:

Below the bun:

Tiara:

Hair/Bun:

Date:

Reverse die polish above one:

Through the top S-O-F-A-M:

Through R-I-C-A & down the edge:

Rims & edge:

That coin definitely looks like something different. Like a medal.
Way to make an entrance!

Hi @OldIndianNutKase, yes you are correct, it hasn't been graded previously. I would like to send it in soon, but wanted to get a feel from others on it's potential qualifications as a satin PR? Also, I've read somewhere here that PCGS doesn't grade 21 proofs, so if by a huge miracle, mine does turn out to merit submitting as a PR via positive feedback here, it looks like I'd have to purchase a membership with NGC to be able to submit?