My coin collection thus far is mostly just little stuff, but I wanted to start with something less mundane than the little coins I have so far. I've sort of decided on Peace Dollars. I like the design and it seems to be something easier than say Morgan's. Now, I've heard many of you preach that we should buy quality. My budget is probably somewhat limited but I can probably save up my PayPal money . So, what sort of grades would you guys recommend shooting for? And what are perhaps some good undervalued dates to keep an eye out for? And any other thoughts you guys might have are appreciated. Thanks.
Only my own personal likes but I like the Peace dollar better than the Morgan. They just appeal to me more for some strange reason. Putting together a set is definitely a whole lot easier might have something to do with it. Like you, I am on a very limited budget so I bought a few. They aren't slabbed but I keep them in airtites just the same. I just pretty much bought on what I liked what I saw and my budget. I will never get rich off of them but they are pleasing to me.
Peace dollars aren't as popular as Morgans and so they are not as expensive, even in the higher grades. But your budget will still dictate what you can do and only you know that. Some dates are available in 65 & 66 for a few hundred dollars. There really aren't any undervalued dates, the series is too well known. But except for about 3 dates/mm ( '21, '28, '34-S ) you can get gem quality coins for less than $500 each. If you go into the Proofs, that's gonna cost some bucks. Prices drop substantially for most dates if go for grades under 65.
To me (and this could get me banned from the board ), I just don't find the Morgan all that attractive. I think the Peace Dollar is just a prettier coin. So what sort of grades did you get? Mint states? I really don't expect to buy these slabbed either, but if I buy off eBay, I might try and have some board members grade em for me . Seems like, at least some years, one can pick up some reasonably high MS coins without breaking the bank.
Here is a list of what I have and the corresponding grades. Now, of course, the grades are by me, but I have about 3 books I check and I have been practicing my grading just about every day since I got them about 3 months ago. 1922 AU-50 1922-D AU-50 1923 AU-50 1923-D EF-40 1924 AU-50 1925 EF-40 1935 EF-40 I undergrade alot too. I got all of these off of eBay. As I recall I got all of them for under $20 a piece. That was a year ago when silver was still at about $7 oz.
The Peace Dollar set is something I want to work on sometime down the road--I think the first coin I would try to get is the 1928---and I would get it slabbed---I would suggest getting it at XF/AU-- If something like that would get someone banned then we have a problem....because I agree I used to have about 5 Morgan dollars totaly---now I have one....and I really do like it...its a HOT 50 VAM from a member here at CT. Speedy
If you look real hard, you can get graded MS64s for philadelphia 22-26 years 40-60$ or so. Just keep an eye out. Its always good to collect a few denoms that are out of favor, you get them relatively cheap and the series might become hot later on. Morgans do well I think because, well, how many DMPL peace dollars do you see? I also like this series, and the 27-P is a little under-rated.
Peace dollars are a great choice in my opinion. I like the morgan design better, but it's easier to collect a short series. If the higher grade coins are out of your price range, just go for the circulated coins and try to pick the ones with pretty clean surfaces [but uncleaned coins of course] and some eye appeal. The circulated coins will move up and down with the price of silver. The higher grade coins will move because of silver plus popularity. You really can't make a mistake with peace dollars in my opinion as long as you don't overpay for what you get. I think it's collectible in all grades and a good choice for a "first serious collection."
I was able to put together a complete set, nice for my tastes (minus the elusive 28-P) for about $900.00. My set goal was AU-58. I'm still working on it, but am satisfied with my start. Year Mintage Grading Price I Paid 1921-P High Relief 1,006,473 EF-40 $119.00 1922-P High Relief 35,401 $42,000 Not in this lifetime.... 1922-P 51,737,000 AU-50 $12.50 1922-D 15,063,000 MS-64 $23.00 1922-S 17,475,000 MS-60 $23.99 1923-P 30,800,000 MS-63 $10.50 1923-D 6,811,000 MS-60 $19.70 1923-S 19,020,000 AU-50 $29.95 1923-S 19,020,000 MS-63 $29.00 1924-P 11,811,000 MS-63 $16.51 1924-S 1,728,000 G-04 $5.85 1924-S 1,728,000 AU-55 $31.02 1925-P 10,198,000 MS-60 $18.00 1925-S 1,610,000 EF-40 $10.49 1926-P 1,939,000 MS-60 $26.99 1926-D 2,348,700 EF-40 $8.50 1926-S 6,980,000 MS-60 $21.50 1926-S 6,980,000 MS-64 $35.00 1927-P 848,000 EF-40 $32.99 1927-D 1,268,900 AU-50 $31.99 1927-S 866,000 AU-50 $29.99 1928-P Replica 360,649 Replica $47.00 1928-S 1,632,000 AU-55 $49.00 1934-P 954,057 AU-50 $24.99 1934-D 1,569,500 MS-60 $23.60 1934-S 1,011,000 VF-20 $63.00 1935-P 1,576,000 MS-60 $57.99 1935-S 1,964,000 EF-40 $10.29 1964-P Replica 20,000 Replica $47.00 Sums $859.34
Hi, I just finished an unc. set of peace dollars that I started a year ago. I stayed with MS-62-63 except for the commom dates (early P mints) which can be had for little $. The 34-S is the toughfy. As for the 28,the price difference between an xf-au and unc is slight,go for the unc! If you see one not slabbed,look at the date closely and the give-a-way is the rims. The obverse will have a flat wide rim unique to that P mint. Good Luck! Dan
Hi. This is just my opinion, but I think the Peace dollar series is the most undervalued series in coins. I'm still putting one together but so far I have most of the common dates, and am starting to pick off the better dates one or two at a time. Most recent buy was the '25-S, and am going after the "34 next. Anywho, just my two cents. Have fun and collect!
I'm a big fan of the morgans. But I like Peace dollars too. The fact that completing the collection of them is more realistic for us working class guys, is one of the appealing things about it. Currently I'm working on getting all of the walker halves from the 30's and 40's in MS condition. But, when I'm done with that, I'm seriously considering building a peace dollar collection. Currently the only peace $ I have are the 22-s and 23-s. I'm probably going to shoot for MS-60 to MS-63. But I may have to compromise a bit on a couple of those dates. Anyway, good luck with your collection.
IMO AU-58 is an excellent grade to complete a set in. Some gorgeous coins which would grade higher are technically limited to AU-58 because they may have some wear. I've seen many which have the eye appeal of 63's+, but they have just a bit of wear. This set is not as expensive as unc., but takes patience waiting for the right coin to appear.
