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Grading Uncirculated Peace Dollars Question
TurtleCat
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I acquired a number of uncirculated peace dollars. I know enough to look for the obvious things (wear on hair, top of Eagle) and I also know the general rule about distracting hits. But I’m not very knowledgeable about grading Peace dollars in general (I’ve only ever owned a couple before) and what I should be looking for other that hits. Any rules of thumb?
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Luster and strike come to mind.... There is a book on these, A Guide Book of Peace Dollars
by Roger W. Burdette, Barry Lovvorn, Q. David Bowers....You should get that for in depth study. Cheers, RickO
@TurtleCat
PCGS Photograde is a great resource https://www.pcgs.com/photograde
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
The same rules apply for peace dollars as any other coin; however, in real life, these coins are tough to grade.
So start with blazing luster and originality + strength of strike and the absence of contact marks = eye appeal.
Some of the quick ways to learn is to examine coins that are already graded by a major TPGS, take a class, or find a person who specializes in these coins to guide you. I'm unfamiliar with the book that is recommended.
The silver Peace dollar issued from 1921 through 1935 was a coin that commemorated the end of the most traumatic war in human history. In the Guide Book of Peace Dollars, award-winning author Roger W. Burdette explores these fascinating and collectible coins, covering every date and mintmark of America's last 90% silver dollar. He also studies the mysterious 1964-D Peace dollar, as well as Proofs, patterns, trial pieces, errors and misstrikes, countermarks, die varieties, and famous collections.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
I have used Photograde in the past but I found it lacking since it only shows one lighting angle and this series seems to have some challenging luster. I have a lot more experience grading Morgan dollars but everything I’ve seen says that Peace dollars have more “compromises” or perhaps “balance” in how they’re graded.
In one sentence or less: If you grade a Peace Dollar like a Morgan, take away a point(or two) and you are probably right.
I mean look at the 64 on photograde, it could easily be a 65 or 66 if it was a Morgan.
Just so people don't think I'm completely crazy:
Collector, occasional seller
Interesting. I know it would be a rule of thumb but still that could be a very useful one.
The Peace Dollar Book by Roger Burdette is a great book for not only what to look for but the complete history of Peace Dollars. It tells you what to look out for for each grade and mint mark combination.
Great Resource!
I agree with this, and have used this grading principle for years.
Frankly, the prices of certified common date coins support this theory. A common date Peace in 66 is about the same a common date Morgan in 67.
They often have planchet spots, does this influence grade a lot?
IMO graders hate Peace dollars. They must. As has been said, grade them like you would a Morgan, then subtract at least a full point.
The hardest part is the AU/MS split. Once you get past that, it’s much easier.
Rookie mistakes are to focus too much on hits and not enough on luster and eye appeal. I’ve seen plenty of virtually spotless dollars in correctly graded 62 holders for dull, lifeless luster. There are also some really nice coins with a few hits in 66 and 67 holders. Acquire an understanding of this, and you’re on you’re way.
Also, be aware that different issues have different common looks to them, especially the 21. 1934/35 coins just look “different” than the early Philly coins.
Great post @ChrisH821
Thanks for the advice everyone. A couple of these dollars have some booming luster. Maybe I’ll give it a try and see what happens.
It ruins the eye appeal for me so I "kill" the grade. However, the folks who know much more about the commercial coin market than I do frequently ignore them.
I’m surprised at how many ms 66-67 have them. I agree with you but it must be accepted that they occur because of the treatment the planchets received
Peace Dollars are tough for me. I have trouble with strike v wear. Same with O mint Morgans.