1928-P Peace Dollar - Polished?

I have a question and am afraid of the answer. I have bought a set of Peace Dollars and the 1928-P, obviously the key to the whole set, has a shinny polished look to it. I do know that this is a highly counterfeited coin which a lot of time it being polished means that it was altered, usually the S taken off of the 1928-S coin and then buffed out to look like a 1928-P coin. That is not my concern though. I have verified that it is a actual 1928-P mint coin. My concern is that it would be in a MS condition if not for it having been polished at one time. All the details are perfect and looks to be uncirculated, however, my question is if the fact that it has been polished at some point, does this make it completely worthless? And by worthless, I mean is it only worth its value in silver? Or being such a tough date and such perfect condition (obviously except for the fact it has been polished) does it still hold some value? Any help would be greatly appreciated. I am not home now, but if enough people would like, I could download some pictures of it. Any help until then would be great.

 

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Throw down some pics.

Everyone is different on how much any given problem impacts a coin's value. Personally, polishing a coin ruins it for me.

 

I don't think it would go down to junk silver price. I mean think how many people would bid on a even polished one as a cheap filler for the album until they could afford to buy a nice example of the year.

 

I will try to post some pics tonight or tomorrow. I wouldnt even be asking this question if it wasnt such a beautiful and rare coin. I have seen lots of other polished coins that I wouldnt even consider, even in this mint and date, but this is really a beautiful coin. It is a real shame that it was polished, because it looks to be in a mint state with no wear on it too. Such a shame, although, I probably wouldnt own it if it wasnt like this so I guess it could be a blessing in disguise. Anyway, I dont believe that it would be worthless either, even though polished coins are really frowned upon. It is still a beauty and a tough date to own, and I even checked to see if it was authentic since there are only three known die varities for this coin and it is legit. Just have no reference to gauge its value with since I havent seen any comparable sales for this coin in this condition, which is why I was hoping someone here could help give me an idea.

 

Of course it isn't worthless. It won't be worth near what it would be if it wasn't polished but it will still have significant value.

 

Agreed, a key date is a key date. How much the polishing affects the eye appeal will determine how much of a reduced price someone will be willing to pay.

 

Some pictures of this coin

Thanks for everyone who had gave their input. I really appreciate it. Here are a few pictures of this coin. I didnt realize how hard it is to get a good picture of a coin with your camera, especially one that has been poished and is very reflective. Hope these give you an idea of what it looks like. Any idea on what it might be worth would be so very greatly appreciated. I bought it in a complete peace dollar set and had no idea that this one was polished since it was not shown in the pictures nor was described this way. The seller also will not refund my money, so I guess I learn the hard way to never buy coins like this unseen and especially if you dont know if they we offer a refund. Understand that I know what a huge mistake I have made and I should have never done something as careless as this, and try to avoid replying on how stupid I am. I already know. Thanks

 

another

 

#3

 

#4

 

#6

 

I dont know if you can tell from the pictures the polished surface of this coin. The last picture you can see how my thumb is reflecting through the coin, other than that, it is hard to capture on a picture. Anyway, it still is a beautiful coin in great shape and I just want your opinion on how much this will factor in the value of this coin. I understand that beauty is in the eye of the beholder and one mans trash is another mans treasure, but if I did ever decide to sell this coin, what do you think would be a fair price?

 

Images 1, 2 and 3 look like an original, non-polished coin. Images 4 and 5 are a lot more iffy, but I attributed that to the lighting. However, image 6 makes the coin look polished. I don't know which images are more true to life, but if the coin looks anything like image 6, it's been polished.

Detail-wise, the coin looks to be uncirculated, or if not, high grade AU. So IF it is a genuine 1928-P, even if it's been polished, it's still worth a few hundred dollars. You should have it checked out in person by an expert.

 

To my untrained eye, images 1,3 and 6 look like different coins.

Edit: Maybe not. The rim dings seem to match up. It's amazing what a photo can hide or reveal.

 

They are all the same coin, just hard to show the polish on it. So you think its still worth a good bit?

 

I don't know who you were asking, but even in VG, that date bids over $300. So if it is a genuine 1928, even if/though it's been polished, it should be worth a few hundred dollars.

 

It looked okay, until the last picture.

yup, polished.

 

I think the key here is patience on your part. You obviously like the coin very much, as would I. It's a key date and completes a collection even if it's polished.

To answer your question, it's worth whatever someone else would be willing to pay and it could easily go for a few hundred as others have pointed out.

But I wouldn't try to sell it now in order to upgrade for another '28 P. Be patient and wait until after you have obtained another '28 P that you like better. Then sell the one you currently have. There are a lot of collectors, myself included, who would like to have such a nice "problem" key-date coin.

Just don't drive yourself crazy over it right now. Enjoy it!

 

thank you Doverboy. Point well taken!

 

here is another pic that better shows the polish