Junk silver? Not. 1928 Peace Dollar

A friend of mine inherited a collection that he really didn't want, and so he said he'd give it to me at the price of what a dealer might give him (he wants to use the proceeds to help his children out). Almost all of it is what might be called "junk silver" -- i.e., regular circulated common-date silver dimes, quarters, halves, and dollars. I've been going through the pieces, one by one, and until last night found absolutely nothing worth writing about.

Until I came across this:



Gulp! First off, what's this worth? Numismedia puts this between $300 and $400 if I'm reading this right (secondary question -- what's the grade?)

So -- now what? I can't afford it, so I need to tell my friend how he might go about selling it. So, if you had this coin, and didn't want it, what would you do with it and/or how would you dispose of it?

 

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This coin is only worth the bullion value it's been through hell maybe you coild get 12 bucks for it from a dealer ,coin looks corroded to

I don't know what an ounze of silver right now is the market fluctuates so fast.

JC

 

Great coin, it's a key date!!! It may look ugly, but that's just toning, scratches, and wear. I'm no expert on grading these but I'd say it's about VERY FINE. I checked on eBay under completed listings and found that 1928 peace dollars in F-XF go from $175-$300.

 

Where the heck are you getting that from??

Is there an "S" hiding on the reverse in that toning I think I might see it?? But maybe not.

If there is an "S" there the coin is worth in the $25-$30 range. If that is just toning and there is not an "S" the coin starts out at around $350 in the greysheet.

Either way its worth at least double (if not a lot more) the $12 that just coins was talking about.

 

With Circulation Strikes of only 360,649, I would say definitely a key date.

 

Look very carefully for the mintmark. Even if you don't see one, closely examine the area of the field where it would normally be. Lots of 1928 Peace dollars used to be 1928-S. I'm not saying that's what this one is, I'm just saying be careful.

 

1928 Peace Dollar

1928-S or P is not junk silver by no means!
like Rock said they are key & low mintage coins:thumb:

 

What?
Even though this is one ruff looking Peace Dollar and appears it's been through the war it is still the key of the series. Unless it has a S mint mark on the reverse that I can't see it still would bring 10-15 times melt. I think you could get $150 out of it as a filler coin.

 

Asking from 100% naivete -- is this worth getting verified/slabbed?

 

BTW, the coin looks VF to me. Can't tell were that old lady has been or gone through though.

 

I'd weigh it and measure it and see if you think that it needs to be authenticated. Other than that I think it would be a toss up if I'd slab it or not.
I have one I just bought from a dealer. He had it listed as an UNC/Ms-60 for $450. I bought it and know it will go Ms-63 at least and I still am wishy washy on sending it off to NGC.

 

It was in an old whitman folder

 

That is like saying if you had another key date, like a 1893 S morgan hit the market, looking just like that, it would sell for $12?
JC, if you would sell this coin for $12, I'd certainly buy it from you, in fact, I'd buy coins from you all day.
This coin will get in the $200 range, easily, IMO!

 

Look at the rims that is corossion by what i'm seeing it is an s mint the coin will grade VG the wear is pretty bad the grade with the corrosion will be a Good so a little above bullion price. I wouldn't buy a corroded key date coin for a high price that;s for sure.

JC

 

I don't know that I see the "S" you are speaking of. You really can't tell unless you had this coin in hand, because I don't see any trace of an "S" by those pics.
I wouldn't buy a corroded key date for a high price either, but that doesn't mean that the market follows what I do.

 

First of all, I don't see any corrosion. I see some unattractive toning. This coin spent some time in a Whitman folder, classic Whitman folder toning. It comes off. Send it to NCS, they can fix it.

Second, the coin has VF details.

 

A 1928 S goes for 24 dollars in the Pcgs listing G4 the op's coin has alot of wear in the focal area so with the corossion the coin will drop another two, grades or more or even body bag it ,so it;s a bullion coin . Now i'm going by the PCGS listing which is even higher a dealer would not buy that coin for more then 12 bucks bullion price in spit of a key date.

Now this is only if it;s an S mint a P mint is a different story because that;s better key date with low mintage just want to make that clear

The area were the mint mark is you can't even tell if it;s an S or P anyway because of the corossion so bodybag it will be if graded .Lostdutchmen the rims are a dead give away for corossion.

JC

 

I agree with Matt. It has VF details and I see no corrosion just very unattractive toning. But, I would like to see better pics of the mm area.

 

Which coin is simular to the op's coin

JC

 

Neither one.