Peace Dollar - The learning of a lesson

Max -

The 1928 was beautiful. It was blast white. Maybe a little too white. I checked if for hairlines, but the light wasn't very good. I looked for the cartwheel and it just didn't look right. '28's are usually pretty well struck and have nice cartwheel luster. My gut was that it had been dipped too many times and it impaired the luster. I would also not be suprised if it had been mechanically cleaned at some point. It was still an awesome looking coin though. Too awesome.

I asked the dealer where he got it and he said he thought he bought it from another dealer..he wasn't sure. I call BS on that as aside from the 1934-s, high grade '28's are the key to the Peace Dollar series. I asked him why he hasn't sent it in for grading and he said he probably would if he couldn't sell it raw at that show.

He knows that coin would come back in a bag and there is no way he's sending it in. Also, he offered my MS 62 price on a coin he said was MS 64. That is another red flag. There is quite a price jump between those two grades. Why would he cut me a deal...a guy he's never met before. Remember, there are no STEALS in this hobby.

 

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Tommy - do you buy the slabbed coins on ebay? What are some other good placed to buy from (if this is not to obtrusive a question) OH TRUST me I am sure I have waisted way more than that...I got hooked when a friend sent me a silver eagle as a gift...LOL...I bought a red book, david powers grader and I hit ebay like a hammer...! A week later when I was trying to figure out how to organize, file, keep track of the 130 coins I bought...I said, wait a sec here...I bought 4 1922 peace dollars (and tons of other dubs) I did not know how to tell which one to keep...LOL CRAZY...I joined CT and have been trying to become better educated...

 

Max - I do buy slabbed coins on eBay. I only purchase PCGS and NGC slabs. The seller must have good pictures and a no questions asked return policy. Be wary of low end coins for the grade, weak strikes are common on eBay..especially with Peace Dollars. My brother in law loves Teletrade. However, there is a 15% buyer's fee to consider.

You should slow down, brother. Buy the book before you buy the coin. I have read about 15 books on different series since I started about a year ago. I really haven't bought all that many coins...maybe 15, or so this year. Want to buy a nice standing liberty quarter? Learn what "Full Head" means. Want to buy some mercury dimes? Find out what "Full Bands" are. Different coins have different things that the smart buyer looks for. Read, Read, Read. Also, look at as many coins as you can.

 

Tommy - Thanks...I appreciate the help...Yes, I did slow down...and I do have more books. I also figured out to stick with what I liked, at first I was buying everything...mercury dimes, half dollars...ugh. So, I really am learning about the Peace, Standing Lib half (and I just finished the Eisenhower proof set) and silver eagles...thanks again...

 

Tommy - ok, this is why I get so confused http://www.teletrade.com/coins/lot.asp?auction=2912&lot=1141&imagetype=j2 - this is a PCGS 1946D and to me although it shines there is stuff all over it...yet this is rated at MS66 the red book only goes to MS63...UGH...UGH

 

that "stuff" is toning. not appealing to me but not degrading to the coin.

you dont have to rely on top tier slabbed coins to make a collection. this is just something to learn from.

 

The stuff you see is referred to as toning. Toning comes in several forms, none of which negatively affects the technical grade of a coin. In fact, coins with eye-appealing toning are sometimes upgraded by the tpg's. The toning on that particular coin is what some refer to as russet toning. Some may appreciate it as it signifies the originality of the coin, where others prefer their coins to be dipped to blast white.

 

I'd give it an AU58, could have been dipped or cleaned tho! Look at the bust, the neck. There's alot of wear there and also on the bun of Liberty's hair!

 

Max - Sorry for the delay. DO NOT use a Red Book for pricing. If you are serious about purchasing coins you need to get the Coin Dealer's Newsletter. This is referred to as "The Greysheet" in the hobby. It comes out every week and reflects the latest prices. Keep in mind that this sheet is for "dealers" and reflect wholesale prices. That is dealer to dealer prices. You will pay a premium above those prices for high quality coins of any grade.

Also, keep in mind that if you buy from brick and mortar stores, the prices are generally higher than if you are buying online, or at a local show. Store owners have overhead - rent, utilities, etc., and its reflected in their price.

You can also get a copy of Coins or COINage. They have RETAIL prices for coins everymonth. The Greysheet is the way to go if you are serious about collecting/investing.

I'd be wiling to send you some old Greysheets. If you are interested, get your address to me.

Tom

 

@ GD - Check...NGC and PCGS only...perfect and thanks.

 

amazing, I would give that a MS-63 at best....a whole 3 points at least