A thread for newcomers who want to collect Peace Dollars...

Hi folks,

Even though my avatar is solidly Morgan, I have been a collector of Peace Dollars for many years. Lots of folks come here with questions, and they are genuinely interested in one of the more short-lived and beautiful series of coins that America ever produced. Most folks really like the design, and find it an attractive coin. I'd like to share some of my expertise, and like the Morgan thread I wrote, please feel free to chime in, y'all.

Peace dollars are a very collectible series--they were minted from 1921 to 1928, and then again in 1934 and 1935. There was a 1964 D theoretical coin, but if it exists, it is an extreme rarity, so don't worry about its genuine existence--there are many controversies. Basically, there are three quite difficult key dates, that can be expensive in MS condition--the 1921 is a high relief coin, that was minted for one year, and only by the Philadelphia mint. After that, the coins are normal relief, with varying strikes--certain years are well struck, and others far less so. Key dates are as follows:

1921--can be had in MS for about $600 for a nice coin
1928--the KEY. Figure $800-1000 for a nice MS coin.
1934s--Thousands for the coin in MS. A conditional rarity.

Other "good dates" exist--such as 1927 and 1927s, 1928s, and the 34 and 35 coins in MS. Peace dollars were minted by all three mints--Philadelphia, Denver, and San Francisco. 1921 is P only, 1924 and 1925 had no Denver coinage. nor did 1928 and 1935.

There are 24 coins in the series, and most of them are readily available in nice condition. 1922 through 1927 can generally be had in MS condition for a reasonable amount of money as common coins (1927 is harder than the others). Unless you have unlimited budgets, don't think of 1934s in MS--settle for a nice circulated coin. Extremely nice AU 55 and 58 coins exist for all the difficult dates, and can be more attractive than MS baggy coins of equivalent date and mint, for much less money.

The following caveats apply: Although the Peace Dollar was counterfeited much less than the Morgan, many fakes do exist. The same warning goes out about spending money for raw coins, until one gets to know the series. My suggestion is DO NOT consider 1921, 1928 or 1934S coins that are raw--they are often fakes. The 1934 exists with fraudulently added "S" mint marks, so be careful on that one. Chinese cast coins, and struck ones do exist plentifully, so be prudent. Also, Peace Dollars are not available as market acceptable toned coins to the degree that Morgans are, due to different storage conditions, so be careful, and only get toned Peace Dollars in slabs. David Hall was quoted as saying that any toned Peace Dollar is artificially toned--I would not go that far, but many AT examples exist.

So, feel free to add comments, and enjoy collecting Peace Dollars--I have had the complete set, and now selectively collect them, as they are beautiful and historic coins. By the way, Amanda Varner has a wonderful chart on Peace Dollar values--see if you can get a hold of her and look up that thread. It is very helpful for folks learning the series.

 

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i have a question, if i go through dollar rolls as of today will i eventually find one box after another?

 

Thanks for the concise and informative article; I appreciate your time. The Peace dollar series is one of my favorite series!

Is there really a 1929?

-L

 

That was a typo. Thanks for pointing it out.

 

There are a surprising number of hits on the 'net concerning it Thought I was in for another 1964 Theory! Thank you again for your time and informative article.
-L

 

Very few banks, if any, carry rolls of the large dollars - Morgan, Peace & Ike. If you are lucky to find a bank to order rolls or boxes of dollars for you, they will likely be the smaller dollars - SBA, Sac & Prez.

If you use SleazeBay to buy rolls, don't believe anyone who claims that their rolls are unsearched.

Chris

 

i never trust online unless i see for my self the roll its self is untouched, really firm wrap and no wear in the wrapping and the ends are still clean with no wrinkles. but again i hope i can find a bank that has it, its usually in the 500 dollar box? or its a 1000 box?

 

You'd have better odds of hitting the Powerball.

Chris

 

made me laugh haha..