hone your grading skills -- peace dollar

Ms-63

 

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AU-58. Market grades at MS-64*

 

I think MS62 again. Toning does not do much for me in pictures, but in hand they are really neat. That is a nice coin!

 

Wow, I can not believe it. I've seen very few peace dollars with original tone that are even in this catagory. Only been a member to the forum for a few months and have never seen Doug get excited about a thread or coin like this one, and this is why I check the site to see coins like this. I'm just about done with my Mint State peace dollar collection, with most MS-63 plus and I appreciate seeing a fine peace dollar, they are rare in extrem high grades in most datse and toned with those colors and hues, WOW. Nice coin, only dream about being in the right place at the right time with enough cash to get one like this. :hail::hail::hail:
I would also like to see someone post photos of a matte or satin proof peace dollar, wouldn't mind having one of them in the collection.
Back to the question, I'd say AU-58 and I hope a much deserved star behind it.
The tone makes it tough to grade, because trying to determine ware/rub with the tone, maybe its me. I wouldn't be surpised if I'm wrong and see it grade MS-61.
When you post the results, if you don't mind I'd like to know what you paid or range.

 

One more :thumb:.

Question for you experts. Why don't we see more peace dollars toned like this. Was it the way the planchet was cleaned, the way the alloys where mixed or what? Isn't the alloy compostion the same as the Morgan Dollars?

 

I wondered the same thing, thanks for asking the question.

 

Check out this thread. Could it be the subtle difference in the metallurgy of each series? Maybe so, Probably not, but Doug points out that the surface texture has everything to do with it...
http://www.cointalk.org/showthread.php?t=12578

 

I'll say MS-62 due the mark on the obverse under the U in TRVST and the contact marks on the back of the eagle. The toning is exceptional. The coin is a beauty. I'd love to one one like that.

Bruce

 

Thanks Ben!

 

OK, I threw you guys kind of a curveball here. As I neglected to tell you that the coin was in an old NGC "fattie" holder (which predates the "*" IIRC). Not that it would have mattered -- as it would have likely just made you all grade it lower....

It was graded MS 64 by NGC.

My completely subjective thoughts on the coin:

In-hand it is simply stunning. I almost couldn't believe my eyes when I received it. The toning is actually a touch darker than the photos suggest, the center a touch whiter, and the coin a bit more colorful. The photos also make it appear to have more friction/high-point wear than is actually there, and the coin cartwheels like an uncirculated coin should with no luster disturbances.

In looking at the photo, I was concerned the hit on Liberty's lip would show, but in-hand it doesn't bother me at all. Clearly an old hit which has nice toning over it and it doesn't jump out at you when you look at the coin.

Some of you have inquired how much I paid for the coin, which I'm more than happy to provide via PM, but just don't think it is in good form to post this type of information publically. In addition, you might call me nuts or worse after you see the price, but let's just say it went for 66 money. As an aside, paying two grades up (or roughly 10x) premium for toning is against one of my personal "rules" of acquisition, however as soon as I saw the coin there was no doubt that the coin is worth it to me. I don't think I've ever decided so quickly that I had to have a coin -- it is just that special.

So thanks to everyone who responded to this thread, for all the comments and guesses, and I hope you enjoyed this thread...Mike

p.s. If anyone is interested in seeing this coin, or any of my coins in-person, I'll be at FUN and would love to get together and have a show and tell session with fellow collectors. I don't know about you, but I find it FAR more interesting to look at other collector's coins than wading through the 99% crap at most dealer's tables.

[edited to add: I returned the coin after being informed of the likelihood the coin was/is AT]

 

Doug, I know I asked the same question in another post but I wanted to make sure you do not miss the question. Why do the Franklins and 64 Kennedy tone so much? Or is it that I just happen to see nicely toned coins online and the majority of them really do not? We do have a pair of toned 64 halves at home but I think the starage had more to do with it.

Thanks

Darryl

 

Here is a current list of TONED Peace Dollars being offered on Ebay. Some may be genuine and then again some might be artifically toned...

Also, there appears to be a couple of angry looking cats, LOL
http://coins.search.ebay.com/toned-peace-dollar_Coins-Paper-Money

 

While I honestly don't have a clue why this is really the case, I've seen several other reasons thrown about for the lack of toned Peace dollars, including:

1) Lack of bag-stored examples (unlike Morgan Dollars, many of which acquired their toning from the bags in Treasury storage).
2) Planchet preparation differences (more highly polished, different wash/rinsing techniques, etc.)
3) Increased relief causing more metal flow (and kind of related to GDMSP's point above)

I would guess that for every thousand attractively toned Morgans, there's one attractive toned Peace dollar, if not more. They are that rare. In fact, I've only seen TWO nicely toned Peace dollars in the past 4 years -- all owned by collectors unwilling to sell.

Have fun...Mike

 

Thanks guys - makes sense when you know staorage has much to do with it.

Darryl

 

i think 63...............nice gift from ngc at 64

 

Again, awesome coin leadfoot. :thumb: BTW, just thought you should know though that on your site it says it's grade by PCGS.

 

Leadfoot, is your site a secret or can I look too?

 

Mike, Congratulations on another beautiful coin. That's one of the prettiest Peace Dollars I have ever seen.