NN: "Bargains in Peace Dollars Series".....Interesting article.
Goldbully
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Nice article for those thinking about collecting or are already collecting this short series.
Bargains in Peace Dollars Series
Posted on October 4, 2020 by Numismatic News Staff
By Mark Benvenuto
Recently we took a close look at the rather hefty series that is the Morgan silver dollars, because these big coins always seem to be in the limelight when it comes to the sale of high-end pieces, and always seem to have a place in collectors’ hearts. But right along with them, perhaps eclipsed a bit in that limelight by the scope of the Morgans, are the Peace dollars. This series is relatively short in comparison, being issued for only 10 years, not all in a row. But the Peace dollars combine some truly beautiful artistry, the work of Mr. Anthony de Francisci, with years of large enough production that we ought to be able to find some bargains for those of us who don’t like to spend too many of our own dollars when buying just one of these.
As we always do when hunting for bargains, we can go through the entire series looking at both official mintages and the prices in major references, and rule out the rarities. For the Peace dollars, that kicks the 1928 out the door right away. The 1922 high relief variety, as well as the 1922 with “ear ring” also get the boot. We’ll see later about one other date that might join them, but also may not.
We also need some upper limit as far as what we want to spend when it comes to ferreting out inexpensive Peace dollars. For that, we might disappoint some of our collector friends and choose not one, but two. We’re going to pick both $60 and $125. Before anyone gets up in arms about us pulling this punch, it is worth pointing out that the most common of the Peace dollars cost about $60 at the MS-64 grade, but about $125 at the MS-65. Some of us are fine with an MS-64 coin, in just about any series. They are never going to be called ugly. But some of us hear that siren song of the MS-65, and are willing to pay for it. So, we have two prices to watch.
Armed then with a dual price ceiling, we come right away to a quartet of Peace dollars issued from the main Mint in Philadelphia: the 1922, the 1923, the 1924 and the 1925. The 1922 has the highest mintage in the series at just over 51.7 million. On the low end of our quartet, the 1925 has a total of 10,198,000 to its official tally, which is lower than the output of the 1922-D, the 1922-S and the 1923-S. But apparently, the “D” and “S” mintmarks add some value to these three, or at least the lack of one for coins from the City of Brotherly Love means their prices will be somewhat lower.
These four Peace dollars from Philly are those that cost $60 in MS-64, or no more than $125 in MS-65 grade. They become our baseline really, something against which we can compare all the others.
(Cont'd in link)
https://www.numismaticnews.net/article/bargains-in-peace-dollars-series
Comments
It can be a great series invest in. But as far as upside the generics may seem cheap but are high pop coins.
It is a series that is filled with mostly very common coins. It does not have nearly the appeal of the Morgan Dollar series.
I don't consider coin in the series to be bargains. Like nearly all coins in a very mature market like US coins they are fully priced.
I know I'm in the minority but I actually like the Peace dollar better than the Morgan. I think the design is superior and the set is short and affordable. There's some interesting varieties, too.
There are no bargains. Supply and demand.
In honor of the memory of Cpl. Michael E. Thompson
I am a really big fan of peace dollars. I love the 1921 high reliefs. It seems as in the last decade the prices of 1921s are on the rise.
Still need a vam3 for my vam collection
The Peace Dollar is, IMO, an attractive coin... It just does not get the collector attention like the Morgans. At the gunshow yesterday, one table had five separate display cases with firearms and accessories, and in each there were two piles of Peace Dollars - about a dozen in each pile. I did not ask a price, nor request to look at them. They generally looked to be circulated. Cheers, RickO
Always been a fan of the 1934-S.
Thanks @Goldbully for posting this interesting article. The author makes some interesting points but I have to take issue with some of his ideas. I don't want to critique his whole article but I'll give you two things that I disagree with.
I believe the author is confusing bargains with cheap. 1922 to 1924 Peace dollars at $60 in MS64 are cheap but they are not bargains. If you try to re-sell these extremely common coins you are going to have to drastically reduce the price to sell them.
The other point is the author's rigidity of staying in his arbitrary budget. He states that a collector can purchase the key date 1921 for $125 in VF20. That is the Coin Values catalog price for this coin. But for only $5 more the catalog value for this coin jumps the grade to XF40 and for only $150 the grade jumps to AU50. We all know that sometimes stretching a little bit for a nicer coin is worth it and when selling it can turn out to have been a real bargain. In this case stretching for such a small amount will realize large jumps in value.
Just my opinion. And thanks again for the article.
If you want to buy a single coin, I'd go with a common date in MS66. If that's too much of a stretch, get a really nice MS65, but be picky, picky! Peace dollars don't really look nice until the MS65 range but a properly graded MS66 is an attractive coin. From MS64 downward there's almost always something visually distracting about the coin.
I personally prefer the look of the 1924 as many can be found with sensational frost and luster. This one has the look I’m after:
I do like the idea of an MS66 as a type coin but I opted for this "lowly" NGC AU53. Less than 3 figures "invested" for my type coin.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I used to own that back in the day!
Miss that coin.
I agree with @BryceM. Nothing better than a GEM 1924-P Peace Dollar!
Bought it 5 years ago from a guy here in NC. He misses it too!
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
If I had money to stretch, I'd rather buy a $10 Indian than a peace dollar. The obverse design of the Peace Dollar is actually based on the same head of victory that was used by Saint Gaudens to design the Indian Head $10. Plus the standing eagle is on both coins are sort of similar as well, but not exactly the same.