I just bought 26 Peace Dollars

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

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    Oh wow!

    I’ve never spent that much on any coin lol xD.

    My most expensive coin was my F12 1799 Draped Bust Dollar that I paid $1460 for.
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  3. TheFinn

    TheFinn Well-Known Member

    That's over $37 an ounce. Silver Dollars are not the best way to buy silver, especially junk coin.
    ripple likes this.
  4. Gam3rBlake

    Gam3rBlake Well-Known Member

    I know it's not the cheapest way. Or the most effective.

    If I just wanted to stack silver purely for the silver I would buy a bunch of generic second hand bars from random mints.

    I bought the Peace Dollars because I think Peace Dollars are cool and they are also silver so I get to have cool coins and then they are valued for silver as well.
  5. manny9655

    manny9655 Well-Known Member

    Silver dollars always carry a premium over melt. He didn't do that badly. Premiums are very high right now.
    ripple likes this.
  6. TheFinn

    TheFinn Well-Known Member

    If you are just trying to get ounces of silver, dollars are the worst way to do it. If you like the dollars, then go for it.
    When I want to buy some silvers, silver dollars are the last way I want to get it unless someone will sell it to me for melt, which they won't, so I don't.
    ripple likes this.
  7. Collecting Nut

    Collecting Nut Borderline Hoarder

    Sounds nice. I've paid more than $5000 for a few coins and I'm glad I did.
  8. Gam3rBlake

    Gam3rBlake Well-Known Member

    But I'm not just trying to get ounces of silver.

    I'm trying to get silver stuff that I think is cool and enjoyable to collect.

    As I said if I wanted purely ounces of silver for the lowest price I would just buy one of those giant 1000 oz industrial bars of silver minted by a small time mint.
  9. Gam3rBlake

    Gam3rBlake Well-Known Member

    Sounds like you have more disposable income :p.

    I wish I could afford $5000+ coins LOL.
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    When I want something, I do some research and save my money. Then one day I can buy it. For Peace Dollars I have all but 2 of them. The 2 I need are less than $1000 each but they are tough in a MS-64 grade. I have the expense ones. I also have a complete $2.50 Gold Indian Set. That 1911-Strong D is another very expensive coin.
  11. Gam3rBlake

    Gam3rBlake Well-Known Member

    That’s awesome!

    I love the $2.50 Gold Indian coins.

    But I only have one of them.

    I took it into a dealer hoping to do a trade for something else but he only offered me spot for it.

    Now I may be totally wrong but I just don’t think that a coin in MS condition that’s nearly 100 years old should go for spot.

    Even if it is a common date with a high mintage it just doesn’t seem right to me. If it was scuffed up or cleaned I could see it going for spot but in MS condition it feels almost like an insult to treat it as if it’s just bullion.

    ripple and Collecting Nut like this.
  12. -jeffB

    -jeffB Greshams LEO Supporter

    If he offered you spot for a slabbed MS quarter-eagle, it was the very BEST kind of lesson (assuming you didn't take him up on it) -- it taught you exactly what kind of dealer he was, and it didn't cost you a cent.
  13. Gam3rBlake

    Gam3rBlake Well-Known Member

    Yeah it was spot for a slabbed MS quarter-eagle.

    I turned him down politely and left.

    I had never been there before and don’t think I’ll be back.
  14. fretboard

    fretboard Defender of Old Coinage!

    I don't think you overpaid at today's prices, but that's a lot of money! It's more than I would have paid but that don't mean anything as I'm not into silver much. Besides, as long as you're happy with it, that's all that matters! :D Looks like the price of silver is going up anyways! :cigar:
    ripple likes this.
  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    It's worth more than spot and I agree with @-jeffB. You now know what kind of dealer he is. Be very careful in your dealings with him.

    Here's my other expensive note. But it completes the series, except for the weak D. Notice mine is a strong D and it's still difficult to see. IMG_5216.JPG IMG_5217.JPG IMG_5218.JPG IMG_5220.JPG
  16. ripple

    ripple Active Member

    The Peace is about my favorite coin in any condition. I like the replica rounds too.
    Gam3rBlake likes this.
  17. ripple

    ripple Active Member

    Just reading more, I get what you mean OP and I’m the same. I can get the SLV for 99 cents over the share price in my stock act but the Prohibition/Depression era silver is stuff that I just enjoy owning.
  18. Gam3rBlake

    Gam3rBlake Well-Known Member

    Well I understand why people buy SLV.

    Paper silver like SLV is a good idea if you expect the silver price to go up and want to profit off of that.

    Whereas physical silver offers that same benefit except usually it costs more over spot due to the fact you’re receiving actual physical metals.

    Im not against paper silver like SLV but my own preference is to buy physical silver that I can actually touch and keep in my possession.
  19. Gam3rBlake

    Gam3rBlake Well-Known Member

    I wouldn’t say that the Peace Dollar is my favorite coin (I love the St. Gaudens Double Eagle the most. Especially the reverse!) but I do love the design and what it represents.

    When you think of how much blood was spilled and how many lives were lost and how many people were wounded in World War 1 it’s mind blowing.

    The Peace Dollar represents the end of all of that hostility & bloodshed (for about 20 years) and so I think it’s a beautiful historically important coin.
    slackaction1 likes this.
  20. Gam3rBlake

    Gam3rBlake Well-Known Member

    Hey just wanted to let you know Northern Nevada Coin is selling a weak D 1911 $2.5 Indian for under $3K.

    Collecting Nut likes this.
  21. Collecting Nut

    Collecting Nut Borderline Hoarder

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