Guess the grade--1923 Peace Dollar

Not a stupid question; it's a great question. Yes the Peace tend to "got issues" with strike. Lots of interesting details in the VAM book !

 

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Mark,

Any opinion on price?

 

lol just to have a guess... something tells me that this coin DID grade 65 in which case I'd say around $500

 

I'd guess $800.

 

I'm going to say NGC graded this coin a MS66. However, I think there are too many hits for it to actually be a 66...I feel this coin is really a MS65. But, it has outstanding eye appeal and toning for a Peace Dollar so I expect it to get a little grading bump to MS66.

Now, for the price. A normal blast white NGC MS66 Peace Dollar sells for about $400 based on HA prices. So, I would put this coin probably in the $1600 range...giving it a 4x price jump based on the highly attractive and very rare toning patterns.

 

Yep, there are a lot of recent Heritage sales $400-435.

Personally, I can't imagine a 4x bump for this coin's toning. IMO the toning isn't particularly attractive (though I acknowledge it's uncommon on Peace $1s).

 

I like the toning, but still can't imagine that type of price premium for it, either.

 

Are you saying that you feel an otherwise perfect coin should be penalized by 5 grading points, due solely to die cracks?

 

I got the idea about 5 points because you said:

So, I was trying to clarify if you meant "a" coin that might otherwise be perfect, or "that" coin, which might otherwise be a 66. Let me ask again (hypothetically)...if there is another Peace Dollar out there which is otherwise perfect, but for die-cracks like the one in this thread, would you limit its grade to 65, thereby deducting 5 points from its otherwise perfect/70 grade?

 

I found this coin while searching the Peace Dollar inventory on Sunday. It was listed as a post auction buy!

2009 October Signature US Coin Auction #1130 Lot: 8600

Sold for: $373.75 (includes BP )
Bid Source: Post Auction Buy

Description 1923 $1 MS66 NGC. NGC Census: (1572/53). PCGS Population (1466/51). Mintage: 30,800,000. Numismedia Wsl. Price for NGC/PCGS coin in MS66: $520. (#7360)(Registry values: N991) (#7360)



http://coins.ha.com/common/view_item.php?Sale_No=1130&Lot_No=8600



The second I saw the price, I immediately thought it must me an overgraded MS65. Upon further inspection I just couldn't understand what happened. The photos seem to indicate the grade is deserved. The toning while not incredible is about as good as a rainbow toned collector can hope for still maintaining originality. I thought there had to be something wrong with the coin if it could make it through a signature auction and not meet a reserve that is 35% back of Numismedia Wholesale.

I posted this thread to see if anyone could detect a flaw that I was missing. Since nobody could, I purchased the coin at what appears to be a bargain price. My only concern now is how the color and luster will appear in hand.

I will update this thread with my own photos once I receive the coin.

 

Based on that information, I'd be shocked if it looks as good, quality-wise, in hand. But stranger things have happened. Best of luck. I look forward to hearing your thoughts once you receive the coin.

 

That summarizes my concern exactly but at that price it is a worthwhile gamble for a die hard gambler.

 

Well.I am proud that I voted 66 (and based on looking on my blackberry no less).
Paul, it seems your gamble is a decent one at this price, given your willingness to buy coins without seeing them in hand.
I have to start a Peace dollar dollection someday...

 

Wow, I'm surprised it went that cheaply. Looks to be a very attractively toned peace dollar, which, as you know, are very hard to find. Looking forward to the update once it arrives!

 

The legend continues! GDJMSP -- the most conservative grader around!

 

I'm not saying that an otherwise perfect coin with a die crack should grade 70. But I do feel that knocking off a full 5 points for that and limiting such a coin to a maximum grade of 65 is way too harsh.