Putting together a set of Peace Dollars

So I've decided to take on another NGC certified set of coins. I'm already working on PF69 Presidential Dollars, which is finnished up until the '09s come out. Also I'm working on MS69 American Silver Eagles, which I'm almost 25% done with (just started recently)

Now I'm taking on Peace Dollars. I already have four (1922P & S, 1923-D,1924) that I bought prior to this decision, but I'm wondering what the best way to go about this is. Would it be better to get the Key's and Semi-Key's out of the way first? Or should I acquire all of the more common dates/mints and then worry about the key's? I figured with the Key dates (esp. the 1928) I could go as low as XF45, but I'd like to get the best I can afford. And with all the other's I figured MS62-MS65 range.

Obviously taking on this set is going to require a lot of patience, but I'm in no hurry to complete it. The hunt is half the fun.

Also, I'm trying to think of some creative ways to display them once it's finnished. An album is obviously not an option since they'll all be slabbed, but I'm sure there's some way of displaying these that I'm not thinking of here..

Thanks in advance for any help or suggestions! :thumb:

 

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Getting the keys first will set the tone for the rest of the set, but i saw something really nice i would pick that up instead/as well. I only have one slab, but wondering if slabs will fit in baseball card holders to display. Or maybe make a grid to hold the slabs and put in a picture frame? Good luck.

 

Steve,

This is my opinion of how to build a successful Peace Dollar set. Save your money and buy the best mint state 1921 Dollar you can afford. Once you have the high relief as the cornerstone, it will set the tone for the rest of the set. I would also collect all of the real common dates in either MS65 or MS66 depending on budget. Fill in the key dates with circulated or low MS examples. I personally don't collect Peace Dollars because they are almost impossible to find with outstanding toning. However, it is one of the most fund and easy series to collect. There really is no coin that is out of reach. Additionally, an AU key date Peace Dollar can be as good as the mint state version. Check this out.

http://coins.ha.com/common/view_item.php?Sale_No=68074&Lot_No=64399#photo

And who wouldn't want an MS66 Peace Dollar like this!

http://coins.ha.com/common/view_item.php?Sale_No=1108&Lot_No=9834#photo

 

Peace dollars ? Excellent choice. Enjoy ! Very best wishes.

Let's assume you're gonna "buy the coin, not the slab". That requires you have expertise in coin grading in general, and this series in particular.

The PR69 modern coins require little expertise. Peace dollars are much trickier.

Personally, I feel it is wise to accumulate some acumen and experience before plunking down the biggest $$$ on the toughest keys.

The learning period doesn't have to be lengthy; maybe a few months is enough. Once you feel confident you can grade the series accurately, then sure... go for the keys if you like.

I like to have several around and play "U Grade 'Em" with a friend. That helps me learn. Also, I like to go to coin shows and cast my eyes on as many as possible. No shortage of Peace dollars !

Ask questions at shows. Dealers and other hobbyists are very helpful.

 

I'm not that new to Peace Dollars or grading..although my grading skills could be better. And when it comes to "buying the coin not the slab", that won't be a problem. I've found some common Peace Dollars with high grades that look rather shoddy. And on the same token I've found great looking specimens with an MS62! I'm not neccessarily looking for the best grades, but rather the best looking dates/mints. I just figured when it came to dates 1922-1927 and 1935, I could go from MS62-MS65. And with eBay as my main source of acquiring the coins it's not a big problem finding great looking ones at reasonable prices.

Thanks for all the input so far. I'm looking to get a real nice 1921 right now. I think when this is completed all the time and effort (and money spent) will pay off big time!

 

I'm sure that's true !

And I'm also sure you're right about the difference in eye appeal between "high grade" coins and MS62s !

You know what you like. That's what counts.

 

These guys offer some options on storage.
They also sell just the pages for slabs.
https://www.eaglecoinholders.com/osCommerce/catalog/

 

Please don't make E-Bay your primary source. Heritage always has a nice selection of common date Peace Dollars available at reasonable auction prices with photos that allow for grading. The signature sales always bring the key dates. If I were working on a Peace set, I would get them all from Heritage.

 

I guess I'll check them out. I've just ALWAYS done business on eBay and have never had problems acquiring what I need at decent prices.

 

Heritage tends toward high end coins as does Teletrade.
Many people might be able to afford an AU or even a MS-60 1921 Peace, but a MS-63 would be out of range.
Same idea for a couple others in the set.
1934-S in XF or AU, but not MS.
The 1928 is a bit odd. Less than $100 between VG and MS-60, but jumps after that.

A slabbed coin from eBay would be the best bet on these coins.
One of the few places you'll find the lower grades slabbed.
Crack them out later if you don't like slabs, but at least you can be confident about authenticity.

 

I agree that you should check out Heritage and Teletrade. Sometimes you can get some really good deals on Teletrade's weekly auctions.

And here's one thing to think about when you're deciding whether to start with common dates or keys. as a general rule, the key dates rise in value at a faster rate than common dates. So, if every coin in the series doubles in value over the next 5 years, would you rather have to pay twice today's price for a 1927-S, or a 1925?

Just my 2 cents, but it seems to me that stocking up on the common dates first means you're going to pay more for the keys in a few years when they're all you have left to buy.

 

Best of luck with it, that's going to be a a fun hunt for you I believe. Have fun, and learn all you can. :thumb:

Phoenix

 

You bet. And coin shows, if you can hit some nearby your place.

Makes sense... if, for some reason, you waited years. Personally, I wait until I have enough experience in the series to make a smart buy - maybe a few months. I never buy keys first, because when I first start out I am inexperienced in that series (who isn't ?).

I have found that keys are more likely to have "low end for the grade" slabs. One should always "buy the coin, not the number", but the stakes are higher with keys. Due to their higher value (and greater gain with one point upgrade), the slabs have been more thouroughly picked over.

I'm surprised there aren't more Peace collectors. Beautiful design, and most are reasonably priced. Plus, it's a fairly short series, so ya don't have to be wealthy to complete the set.

Peace dollars have a lot going for them.

 

Exactly! When I was contemplating on what set to go with, I was thinking about the options and came to realize that the Peace series is only 24 coins, with 3 MAIN Key-dates that aren't too ridiculously expensive, with a handful of other dates/mints that would be a bit more pricey in the higher grades. IMO it's an ideal series. I love the design as well!

I've registered on Heritage, and they do have a nice, albeit small selection to choose from. Some pricey, some not. Once I figure out the in's and out's of H.A. I'll probably pick up some coins from them and see how it goes. Somehow I know I won't be disappointed.


Also, good point on the Key-dates appreciating quicker. While I don't think this set is going to take years to complete, it would be wise to pick up the keys first before they get too pricey. I didn't even think about that.

Thanks for all the suggestions and tips! You guys have been real helpful!

 

hya:

 

MS Peace dollars are not cheap. The last 9 years of them are going to test your metal. Affordable is a loose term around here.

 

I think that's an excellent approach. Too often people get caught up with the number and overlook the simple value of appearance. Not all high grade peace dollars are good looking coins.

 

The selection will increase in a week or so. They're between major "signature" auctions, so they have only the smaller Tuesday / Sunday night gigs.

I think the next big round of consignments posts on August 29th.

 

That's good to know. They do have some real nice coins though. I look forward to doing business on there. I've only heard great things about Heritage.

 

I'm new there too and have been checking them out the last couple months.
I normally just buy on ebay like you. One thing I don't care for on Heritage is their minimum bid increments. Say an auction gets up to 488.00. The next bid has to be 517.00 including the buyer's premium and so on. Which I guess is fine if there's something you really want. But the min. bids go higher as the price goes up. I don't know why it's necessary to do it that way but I'm sure there's a reason.

There are many positive things I like at Heritage though. You can create a want list and it will alert you when that coin gets listed. They also have more top of the line stuff and the photography is normally pretty good. Being able to zoom in on and darken and lighten every picture is an excellent feature as well. The sort features are very helpful on the side, to get down to what you really want to find.
I haven't purchased from there yet but I'm sure I will.