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<p>[QUOTE=&quot;Tamaracian, post: 8276257, member: 23122&quot;]Peace dollars with multi-color toning on both sides are few-and-far-between; toning--if present--usually progresses from a pale gold to russet.&nbsp; For the collector looking for a multi-color Peace Dollar this one certainly is, BUT, if only the coloring of the Reverse were on the Obverse, this might have received an offer for a premium above the PCGS retail of $500 as a BIN or Auction; at $1,795 that is an outrageous ask for a common MS-66 with what many consider ugly Obverse toning.</p><p><br /></p><p>As for how this coin got that toning?&nbsp; As we know, toning occurs on silver alloy coins from the presence of sulfur compounds, either in the air or sealed environment (e.g. mint cello packaging, slab, coin tube), or from direct contact with a sulfur-laden material (e.g. coin roll, <i><b>coin album</b></i>).&nbsp; Toning is also accelerated by exposure to warmth and/or moisture.</p><p><br /></p><p>For Morgan Dollars, the Mint used a dusting of powdered sulfur on the canvas bags to help prevent rats from gnawing the bags in search of food (and thereby affecting the integrity of the sealed Bag) and many of these bags were kept in Mint/Treasury vaults and commercial bank vaults for decades, and these locations were often hot, and moisture-laden leaving quite a few of the coins with colorful toning on one or both sides.&nbsp; I could not find a citation for the use of sulfured canvas bags for the Peace Dollar series, but commercial banks often kept rolls of Peace Dollars and these did pick up toning from the sulfites used to make the wrapper, and when stored in the older non air-conditioned banks for decades did often tone the coins (mainly peripheral toning a.k.a. target toning).&nbsp; </p><p><br /></p><p>Most of the 1923 issue was--according to Q. David Bowers--kept in Treasury vaults until about 1945 when many bags were released through large commercial banks (especially in Chicago).[/QUOTE]</p><p><br /></p>

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