I impulse purchased (at the urging of my 6 year old son) a raw Peace dollar yesterday. I was wondering if these coins demonstrate the same cartwheeling as Morgans. This coin has plenty of luster just no cartwheel. Any thoughts on grade would be appreciated too. I've got a decent handle on Morgan grading (kinda) but am a stranger to Peace dollars.
Yes, Peace Dollars exhibit cartwheel luster, similar to Morgans. The luster on yours is muted because the coin has been cleaned, as evident from hairlines in the first, second and fourth photos above.
Cleaned that one may be (a tad whizzed, perhaps?) but it's still quite decent looking. In my experience, while Peace dollars do display the "cartwheel" effect, it is usually a bit more subtle. For one thing, the sun rays on the reverse break up the flatness of the fields and cause the light to reflect differently. I'm not surprised your son was enamored of a big, flashy silver dollar. I remember when I saw my first one. I was older (11) and had already begun collecting. I do remember when I was around his age (6 or so) being given a Kennedy half, and how big and exciting that seemed to me at the time. Edit- looking at your bigger pictures (I'm on a small tablet) that coin was definitely whizzed. Note the series of fine parallel lines. But your son won't care about that. Here's a coin you can give him to hold and handle (and keep, if he's mature enough), without stressing over it.
Yes, all die struck coinage should exhibit luster. Some designs make it hard to see, but a Peace dollar should absolutely show the cartwheel similar to a Morgan (it is going to look slightly different because the fields are curved differently, but should have the same swooping swirl effect). However, the luster on your coin has been seriously impeded by the harsh cleaning. The hairlines all over that coin will have disrupted the metallic flowlines which produce luster, and may make it difficult to cartwheel. For more reading on Luster, take a look at my thread here: https://www.cointalk.com/threads/luster-a-guide-for-beginners.58435/ or pick up my book on Amazon.
