Why are 1921 peace dollars so expensive now?
SilverProofQuarter1883
Posts: 1,865 ✭✭✭✭✭
Just a year ago I could find rows upon rows of 1921 peace dollars. I saw Ms 62 being sold for around $300. And at the time of buying my Au58 I only spent $250 which was considered over paying since even the PCGS price guide said it was worth $240 and auctions where only going for about $225 in Au 58 grades. Now everything has changed. I just checked the PCGS auction records and Au58 now sell for around $410 +. The price guide says $450 and Ms 62 is now listed at more that twice the value at $700. I have bean looking to upgrade my peace to an Ms 62 but now looking online I can barely find any without them being extremely expensive. Even at coin shows I have had no luck and finding 1921 peace dollars in general. What’s going on ??? What do you guys think 🤔
https://www.pcgs.com/coinfacts/coin/1921-1-high-relief-peace/7356
Comments
https://forums.collectors.com/discussion/comment/12807510#Comment_12807510
peacockcoins
It's either because it's 2021 or people finally realized how nice they are
Prices for these have gone crazy so far this year
Collector, occasional seller
I presume it's related to the commemorative coins.
Demand is high.
With so much cash in the system right now, many things are going for stupid money. Stimulus at work???
I'm guessing some major dealers are buying them up for a major promotion where they'll be paired up with the 2021 Peace dollar. Plan on seeing them later this year in magazine ads, HSN, QVC, etc. Their target audience will not be experienced coin collectors and they will be over priced.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Glad I bought a few several years ago.
Bummed I sold a half roll of high AU’s for $120 each years ago when I needed some quick cash.
Oh well....
Thankful I had them to sell, and had the good sense to save a couple of the higher grade ones.
Interesting times!
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
It’s because I was thinking about buying one. Same thing goes for trucks.
At least I’m getting to sell a house in this market (and not having to buy one in the same market) after buying it in the 2007 bubble.
I’m probably just going to hold off on the ‘21 Peace, as well as the truck.
DC bought a 100 to make his MCMXXI Broken Sword High Relief overstrike.
Makes me want to load up on 1932 quarters in case I live that long.
As the divorce attorney said to the nervous and uncertain client, because it’s worth it!
I can remember taking 1921 Peace Dollars back to the bank in the early 1960's. There were always several in any large lot that you got from the bank.
Trendy
11.5$ Southern Dollars, The little “Big Easy” set
Hype and the centennial of the series?
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If true they are going to be cheap in 2 years.
They used to be high priced back in the day. They were lower mintage often circulated and sometimes attractive. But there were too many to maintain a big premium as the number of collectors shrank and their sophistication grew.
Now there's a new crop of collectors and it's been 100 years. No doubt there are or will be promotions afoot for a set of '21 morgan and peace dollars.
I'd expect nicer specimens to maintain their premiums for the foreseeable future.
I was stunned recently to find how cheap they were.
It's due to the centennial. Some people just want them.
It would make for a nice looking 2-coin PCGS set, 1921 & 2021.
People have finally realized how ugly Morgan dollars are?
--Severian the Lame
I've got a one with an ANACS photo cert graded 63/63. PCGS graded it 63 as well. Glad I don't have to look for one now.
I think this hits the nail right on the head.
The peace design is more elegant but the Morgan’s eye appeal is much more appealing. And the history. Except for the 1921, peace dollars don’t really look that great struck in low relief. The design just doesn’t pop like the Morgan’s do. Personally though I would rather collect the Morgan series.
No, I'm pretty sure I'm right about this.
--Severian the Lame
Just my personal opinion, peace dollars are nice and I love the 1921 high relief. Just like Morgan’s a bit more that the regular peace strike.
Most likely it's some combination of the 100 year anniversary, the 2021 mint commem, and the overall single-year type coin. Small shifts in demand can have large impacts in prices. I'm glad I got these while the gettin' was good:
XF40:
PCGS Details:
Amazing! I've been looking for a good 1921 High Relief. I didn't find one before the price jump!
@BryceM those are some nice high reliefs 👍👍
Hear is mine
Here's one of mine. This one is MS63. I also have a VAM-3, ray thru "L" in MS62.
Seems like I remember a run up of 1909-P and 1909-VDB Lincolns back in 2009. I think the VDB is still way overpriced-it's a very common coin.
Zoins, that is a spectacular '21 in 66.
That’s @BryceM ‘s coin. It is vary nice 👍
This coin is also a vary beautiful example, I can see it has a slightly frosty surface 👍
BryceM-that is a spectacular MS66 Peace!
I got that '21 Peace for the strike.
You say this as a joke, but it's actually the correct answer. You're not thinking about buying either at random, but for the same reason a lot of other people are thinking about it. When there is an increased demand and a constant supply, price goes up.
This is why contrarians can do so well. Problem is, sometimes no one ever decides to go back in to Classic Commems.
Thank you, markelman1125!
@PerryHall nailed it....We will see a rash of hype/sales with these paired with the 2021 Peace dollar... Major prices.... Until about 2023 when the fever subsides.... Cheers, RickO
I remember a few years ago, the 1921 Peace was available at pretty reasonable prices. Of course they have never been cheap. I picked up a few over the years, mostly in low certified grades, as well as raw. I actually like the looks of some of the lower grades. I have a G06 that I really like. The highest grade I own is this AU50.
Why were Washington Quarters expensive during the State Quarter program?
All of the above. Money falling from the sky adds fuel to the flame.
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Glad I bought my group when I did, these are my favorite coins so I have several of them.
The whole Peace Dollar price guide is green right now.
https://www.pcgs.com/prices/detail/peace-dollar/26/most-active
Collector, occasional seller
Also is it possible that if everyone buys the 1921 no will be available and so the demand would exceed the price.?
Who plugs holes ?
1921 is a stand alone Peace Series issue.
The entire 21 run was struck in higher relief during those final days of 1921.
If people collect Peace type then they need two:
1921 & 1922-1935
If you dabble in Dan Carr Coinage Art, then you need three examples:
1921, MCMXXI, 1922-1935
Why do they indicate “HIGH RELIEF” on some 1921 Peace Dollar slabs?
Aren’t ALL 1921 Peace Dollars HIGH RELIEF?
Marketing? And yes.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I think it’s what PCGS uses to distinguish the 1921 S$1 Morgan from the 1921 S$1 Peace dollar.
Not sure, it is common knowledge that all 1921 peace dollars are high relief. Just like a no motto half eagle. Not all the dates have no motto listed on the grade.
Those that are thinking ahead will start buying 1922s now!
PCGS Price Guide for Peace $1's off the charts.
Up 20% and higher in many cases.
https://www.pcgs.com/prices/detail/peace-dollar/26/most-active