What Grade Is This 1934 Peace Dollar?

As an update, I landed a high-grade 1928-P Peace dollar for $50, a high-grade 1921 Peace dollar for $30, and a high-grade 1928-S Peace dollar for $30.

This seller has no clue what he has.

Regarding the guesses here, I appreciate them! We obviously have a range of different views here, and if I am wrong about my guess and it is AU50 or lower, or not gradable, I will still post the result! I am posting this to learn. I will grade this coin on December 20 and post on that date or the next, probably.

 

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Where'd ya hide the gun?

 

Let's say those "high-grades" as you call them, are AU58.

From the sounds of it, you know that AU58 and higher on those dates and mints are pricey in that grade. So you bought the 21 for $30(retail around$175 in AU58), the 1928P for $50(retail $375-$400 in AU58), and the 1928S for $30(retail around $80 in AU58)?

But you do know what he had, but still took advantage of him anyway?

Is it just me people, or have we all lost our sense of helping those not very knowledgeable and taking advantage of them?

Just an FYI, but even on Pawn Stars, when Rick has bought an item from someone and he found out it was worth much more than he thought it was, he's contacted the person who sold it to him, and made it right with them.

 

What goes around comes around , also the Golden rule comes to mind .

 

This same pawn shop ripped me off numerous times when I was a newb, so I imagine they are constantly ripping others off. Just think about the desperate old people who come in and only get a fraction of what their gold is worth -- people desperate to pay their bills or get medication. So you are saying that I should play fair with people who play unfair?

 

And were you forced to do business with them?

Is anyone?

How were you treated unfairly by the person who sold you those Peace dollars? Your statement:

So you're saying that's license for you, or anyone, to take advantage of them?

You're unethical, and ignored!

 

So you are saying it's OK for this pawn shop to pay elderly people a fraction of what their gold is worth, but unethical for me to do the same to them with their silver?

 

For the record, I would never do this to a friend or vulnerable individual I encountered. This is a pawn shop that makes its living taking advantage of people, IMO.

 

This will be my last reply to you:

No one, and I mean NO one, is forced to even go into a pawn shop to sell something of value, and certainly not forced to accept the pawn shop's offer. No one held a gun to your head, no one twisted your arm, there were no thugs threatening your health to take the deal. You did so of your own volition.

You didn't offer the seller a fraction of these dollars' worth, you basically swindled them out of a fair value for them. This was YOUR opportunity to inform the seller of they really had, and their potential value, and combined was much more than $110 that you paid for all three.

You are ignored!

Adios!

 

So, again, it's not a swindle when the pawn shop pays elderly people a fraction of what their gold is worth, but it's a swindle when I do it to them with their silver?

You are ignored for your moral inconsistency.

 

I have to disagree BU. Seriously, turn your argument around. No one forced the pawn shop owner to sell to the man, If you haev a problem with a collector cherrypicking a pawn shop, would it stop there? Why should the pawn shop get the money? If anyone should get more money in such a situation it should have been the person who sold it to the pawn shop, right? If you agree on that point, (and if you do not please explain how this is moral), then either way the pawn shop gets no extra money. So how are they hurt. If they bought the coin for $20 and sold it for $50, or they buuy it for $200 and sell for $230, they get the same profit, right?

So, given how the original owner most likely would never get another dime, and the pawn shop is supposed to be experts since they are in the business of selling coins, I see ZERO percent reason to go back and pay him more really. I am betting the pawn shop made a good profit on the transaction. THe real loser overall was the person who sold to the pawn shop.

Now, if your response BU was from someone bragging how he met some little old later and only paid her 10 cents on the dollar for her deceased husband's coin I would be as morally outraged as you. However, I simply do not view this scenario that way. Dealers have a DUTY to know their stock. How many times have you heard cherrypicking stories of someone finding a no S dime or nickel proof set from dealer stock. Were you morally outraged at every single one of these as well?

 

The OP stated he was taken by the pawn shop that's why he in turn cheated them. That's why I said, no one is forced to accept the pawn shop's offer, or even go into a pawn shop to sell a valuable.

 

I agree that one thing does not defend the other. However, to me the pawn store probably paid less than the listed price so they most likely made a profit. They are the experts, or should be, so if the man paid what was asked that is all the store should expect. If the pawn store owner said, "I don't really know these, is $50 a fair price for this, or is it worth more?" then maybe the buyer should have told him. Short of that, the buyer owes a dealer the money.

I have bought from dealers a coin later I found out was worth much more than I paid. Some of these dealers have been world renowned experts in their field. Everyone cannot know everything, and dealers know this. They make a conscious decision to research some pieces, and not research others. If they choose to not educate themselves on a piece and sell it lower than the going rate, I simply do not cry for them. It was THEIR decision to make, they are supposed to be professionals. If they wish to be lazy, they should expect to pay for their laziness. If my firm is stupid and sells something for under market, its OUR fault, not the buyers.

 

I know it's not the best prize, but I'm not rich and all that the participants have to do is guess the grade. I may also, depending on my feelings, consider donating some of the profits I make from this dealer to charity this holiday season.

If there is a tie among participants, I will raffle the coin.

No, it is against the rules to post a contest outside of the contest area. Read the rules of the contest area to stay correct and then post the contest accordingly.

I have deleted the following guesses, they will have to resubmit when you get it posted.

Sorry, but all must play accordingly.

 

That's quite a bit different then knowing the value at the time of the transaction and still underpaying anyway.

Put yourself in this same situation: You're the buyer, and know the value of these coins is much more than the seller is asking, especially the 28 P.

Would you still buy them for the prices the OP paid, or would say to the seller, "Hey wait a minute. I don't think you know what you really have here.", then take the time to educate the person that those coins have more value to them in the condition they're in?

If it was the scenario you mention, where you bought at a low price, then later on found out they are worth much more, if it were me I would at least say something to the seller, and try and make it right with them. If the seller says it's okay, that's one thing, but at least the seller had the offer.

 

No more guesses until he starts a new thread in the contest area.

 

No, it would not bother me a bit. Go back and think about modern coin collectors who go through and cherrypick proof sets. Do they have a duty to pay more if they find a rarer coin in a set, or do they just pay the asking price? Do you offer more to a dealer if you find a coin at his table for $20 less than another table? At what point is a dealer not responsible for being a professional and knowing his merchandise? How much knowledge am I required to possess and pass along to him for free?

Concerning buying from a dealer, I simply respectfully disagree sir.

 

AU58

 

my guess after looking at the coin some distracting contact marks, looks like most of mint luster is still present.. lightly......... .. by no means as experienced as the ones above my guess would AU-55 WORTH GUESS 70.00 .......... NICE COIN

 

Like the moderator has written, to participate in the contest one must post in the thread in the contest forum. Members can still answer the opening question in this thread, but the contest requires posting in the other thread.