1921 Peace Dollar

So, for a while I have been sitting on some Christmas money and other saved money trying to decide what I want to use it on. I have decided I think I want to add a 1921 Peace Dollar to my collection. This has been a coin I have had my eye on for some time...and I have never bought one.

I'm first looking for some basic information about the coin. I know this was a trail issue and it was higher relief than the later issues...so it is often weakly struck (or so is my understanding). How hard is it to find a decently struck example? What I want is a TPG graded (PCGS or NGC only) MS example, blast white (or at least not overly toned) and decent strike. Ideally, MS63 or 64 would be what I'm looking at. Based on what I have seen online, that would probably be between $300-$500. I currently have about $350 saved and could probably scrounge a little more if I needed to and found the right coin.

Does this seem like a coin I can reasonably get for the money I have saved? I'm more or a Morgan Dollar guy so my knowledge of Peace Dollars is limited. Any advice from Peace collectors would be great. What I'm trying to avoid is getting a coin I will later feel needs an upgrade.

 

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I actually think the 1921 has a better strike because it is done in high relief. Im paying $445 for a MS-63 right now, my local shop does layaway.

 

I was wrong, your right. I looked it up it does have a weaker strike.

 

1921 Peace: One of the most beautiful coins of all time! IMO. Can't get myself to shell out big money for a single coin but I did buy a low grade 1921 Peace for $50.00 about 4 years ago. Even though its low grade, still one of my favorites! You can really tell a difference between the 1921 and the other years......awesome! Good choice! Good luck!

 

The problem with the 1921 high-relief Peace dollar is that the design did not lend itself to ideal metal flow. High points are just opposite on both sides of the coin.

During the three days in late Dec 1921 when the coin was struck the Mint experimented with different striking pressures and found a lot of die failures. The results were disappointing and not economically sensible. So sadly, the relief and striking pressure were reduced for the 1922 and all later Peace dollars.

This is not to say that the 1921's cannot be found well struck. You just have to be discerning and know what to look for. Most collectors focus on the central hair bundle...the flatter areas around the ear and curls at the jaw line. But there are other important diagnostics. Roger W. Burdette published a brief paper about this not long ago. Here are some of his tips.

Look carefully at the lettering and rays. Well-struck examples are rounded, not flat, especially near the edges/rims. Dots/periods should be sharp and triangular, not bland blobs.

The bust truncates at the neck. The ridge should be well formed and round, not flat. The field to rim transition should be smooth and even.

On the reverse, look at the eagle feathers at the top right (just above and to the left of the D in DOLLAR. Detail should be present, as well as at the lower feathers.

Compare the M in UNUM to the M in AMERICA. They both should have well rounded tops or upper surfaces, not just the one in AMERICA.

Check out delineation of the O in ONE from the rim. It should be clearly separated.

The 1921 Peace dollar is a very cool coin and one everyone should have an example of. It is a beautiful design introduced during a very happy era in the U.S. and will endure as a very desirable collector coin.
Lance.

 

Great coin! You can get a really nice PCGS or NGC AU58 example for less money. TC

 

I picked up a well-struck PCGS OGH MS63 example with consistent golden tone on the obverse and a blast white reverse for $393. Beautiful examples are out there and can be found even cheaper. With a $350-400 budget and a bit of patience, you can get a very nice MS coin.

 

This is my plan. I'm going to keep an eye out and learn about this specific issue and maybe set a little more cash aside. When the right coin comes along, I'm going to jump on it.

I know that AU58 coins can be amazing looking and a real bargain for the beauty. But, for this particular coin, I really only want an MS example.

 

I have been leaning towards a nice MS63 example. I think with a little patience I should be able to find one.

 

Patience is the key. I also am looking for on and their is not a lot of options that I have seen. Just wait and it will come along. It is a great coin I have a few of them. My only suggestion is to pay the small premium and get it with the best strike you can afford.

 

I might add Camaro that Heritage has several up for auction right now.

 

quick question anyone. i found a 1921 peace dollar inside a tree trunk i weighed it and it weighed 17g how do i know if its real ?

 

Wow! Interestingly enough, I'm looking for an MS63 example for my type set right now. I've seen some nice, clean-surfaced 1921 Peace Dollars in MS63 (PCGS or NGC) slabs sell on ebay for between $350-$380 just this week (Link below for 2 pieces that sold a few days ago). Sadly, I missed out on those opportunities. My coin fund is dangerously low and I've been trying to liquidate portions of my collection to help towards purchasing this coin along with a Carson City (1882, 83, 84-CC) MS63DMPL (PCGS or NGC). Anyways, good luck finding yours! I'm on the hunt...

-Brian

This one sold first. Very nice surfaces and would have looked great in my type set... *sigh* :
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=140566993492&ssPageName=STRK:MEWAX:IT

This was my favorite example out of the two. Virtually MARK-FREE fields! Light bust toning as well: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=230638980138&ssPageName=STRK:MEWAX:IT

 

Here is a 1921, once graded MS62 and now raw. Both coin and image belonging to Bruce Lee (Bruceswar).
He picked it up at an antique shop for MS60 money. Probably the best struck Peace you'll ever see. They are out there. You just have to find them.

 

I wish you the best of luck! Can't wait to see what it looks like when you get it. Mine's just a VF...but I got it for a good price and I'm happy to finally own one again.

 

What do they cost at VF? :thumb:

 

I got it for $70...think I posted pics in an earlier post.

 

Nice Job!