I just bought 26 Peace Dollars

Discussion in 'Bullion Investing' started by Gam3rBlake, Jan 31, 2021.

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    Does anyone else enjoy Peace Dollars just for the design?

    I think they are a great way to stack silver if you buy them in VF-XF condition.
     
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  3. -jeffB

    -jeffB Greshams LEO Supporter

    Ordered, or purchased in-person? Pics!

    I agree about them being a good form of silver. You won't get as much for them when you go to sell as you would for Morgans, but then again, you didn't have to pay as much for them (presumably). And I think they still hold more of a premium than smaller change.
     
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  4. Gam3rBlake

    Gam3rBlake Well-Known Member

    I ordered them from a dealer in Ohio who I’ve done business with in the past.

    They aren’t here yet so I can’t post any pics. :(

    He did agree to ship them in an ASE tube which is cool since some places (like APMEX) charge $3 for an empty ASE tube.

    I did end up paying a pretty large premium though but with the Reddit stuff going on and people planning to GameStop the silver market I understand why the premium is so high.

    I ended up paying $28.84 per Peace Dollar.
     
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  5. fretboard

    fretboard Defender of Old Coinage!

    Great idea, hope you do well cause I know silver is selling right now for crazy a$$ prices! :D
     
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  6. -jeffB

    -jeffB Greshams LEO Supporter

    It looks like silver right now on eBay is going at an effective price of $30-33 per ounce -- 90% dimes/quarters/halves are selling at 22x-24x face value, and rolls of ASEs are getting $750-800 ($37.50-$40 each).

    This is probably a great time for quick sales, while everybody's guessing what will happen when overseas markets reopen. I'm tempted myself, but the 13% eBay + PayPal haircut holds me back.
     
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  7. Gam3rBlake

    Gam3rBlake Well-Known Member

    Do you think I overpaid?

    I looked on APMEX (before they halted sales) and they were selling CULL Peace Dollars for like $31.99 each.
     
  8. manny9655

    manny9655 Well-Known Member

    heck, no, you didn't overpay. BTW who was the Ohio dealer, if you don't mind me asking? I'm in Ohio, just wondered if they were somebody I've done business with or at least were familiar with.
     
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  9. Gam3rBlake

    Gam3rBlake Well-Known Member

    I bought from Daniel, the owner of Portsmouth Coin Shop in Portsmouth, Ohio.

    I asked him how many Peace Dollars he would sell me for $750 and he agreed to sell me 26 for that much.

    He has his own Youtube channel called CoinHelpU.
     
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  10. Mkm5

    Mkm5 Well-Known Member

    My LCS was at $28 each for Peace dollars last week. I found a roll of AU for $20 each not long ago, but that was just a lucky find.
     
  11. Gam3rBlake

    Gam3rBlake Well-Known Member

    Oh wow nice!!

    $20 each is less than spot!
     
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  12. Mkm5

    Mkm5 Well-Known Member

    Daniel is a good guy, you did just fine!
     
  13. Gam3rBlake

    Gam3rBlake Well-Known Member

    Oh ok well that's good to know!

    I wasn't sure because I know Peace Dollars are only 0.7738 oz of silver and so $28.84 for 0.77 oz of silver comes out to like $33/oz.
     
  14. Mkm5

    Mkm5 Well-Known Member

    Melt for a Peace dollar is $20.90 right now. Silver dollars usually carry a higher premium like ASEs.
     
  15. Gam3rBlake

    Gam3rBlake Well-Known Member

    But I thought you just said it was a good deal? o_O
     
  16. Mkm5

    Mkm5 Well-Known Member

    Yes, that's what they're selling for, around $28 each at LCS. I think culls are around $30 from bullion dealers.
     
  17. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    SERIOUSLY??? Jeez a Mickey!!! Why do people jump on the silver wagon when it is high I wonder? Now I feel like I need to put my ASE rolls in the safe deposit box.

    As to the OP.... Yes, old dollars are a fine way to accumulate silver. I went through phases where I would get rolls of ASE’s then rolls of full dollars. Wasn’t until recently that I even opened the rolls of cull dollars. One roll was all Peace dollars that would go F-high VF. I was pleasantly surprised.... But yes, cull dollars are a great way to store a little wealth and enjoy the history at the same time.
     
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  18. JPD3

    JPD3 Well-Known Member

    Concerning Gamestopping the silver market, I just noticed this article on the net from Bloomberg:
    https://www.msn.com/en-us/money/com...-a-halt-as-reddit-horde-takes-aim/ar-BB1dgiid
     
  19. Gam3rBlake

    Gam3rBlake Well-Known Member

    They aren’t culls though.

    Daniel assured me that they were all in VF-XF condition and that none were damaged/holed.
     
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  20. Mkm5

    Mkm5 Well-Known Member

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  21. manny9655

    manny9655 Well-Known Member

    I'm not familiar with them, that's clear on the other end of the state from me, but thanks.
     
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