is this a good deal? (peace silver dollars)

Discussion in 'US Coins Forum' started by WingedLiberty, Oct 5, 2010.

  1. WingedLiberty

    WingedLiberty Well-Known Member

    100 Peace Silver Dollars (Mixed Dates)
    All Uncirculated


    So that's $22.75 each ...

    The silver melt value is around $17.70, so about a $5 premium over melt per coin

    This is from a trusted dealer near my house.
    I can examine the coins before i buy.
    I suppose i need to watch out for a bunch of sliders or cleaned coins.

    Just wondering what you all thought?
    Good deal or pass?
  2. Avatar

    Guest User Guest

    to hide this ad.
  3. camlov2

    camlov2 Member

    "mixed dates" will mean common dates.

    Question #1-Would you pay 22.75 for a common date peace dollar?
    If no don't buy, if yes go to question #2

    Question #2-You now have a common date peace dollar, would you pay another 22.75 for a second coin with the exact same date?
    If no don't buy, if yes go to question #3
    Question #3-repeat question 2.

    With only about 10 years of peace dollars you are going to be buying a large number of duplicates. It is unlikely that the dealer will be giving out high grade coins so probably not a great deal. My local shop has a box of Morgan/Peace dollars you can pick through for $19 each.
  4. WingedLiberty

    WingedLiberty Well-Known Member

    good points ... thanks camlov2

    yes, i was expecting them all to be 1922, 23, 24, and 25

    i suppose this is in that fuzzy area between bullion and very slight numismatic value

    however even ASE's which are common as heck, are selling for a premium over melt of $3.15 per coin

    the question i asked myself is ... is it worth an extra $1.85 for an uncirculated 85 year old coin
  5. Mr. Coin Lover

    Mr. Coin Lover Supporter**

    Personally I don't think so. The poster between us (camlov2) stated it very well. But as my nephew the car salesman would say a deal is a state of mind.
  6. RaceBannon

    RaceBannon Member

    If they are acutally all uncirculated, not cleaned or sliders, I would say that's a decent price.

    There's a dealer in my area offering "average circulated" common date peace and morgan dollars for $19 apiece, if you buy in bulk which he defines as at least 40 coins. So that's only $1.30 over melt per coin. I'd call that a good deal for the average buyer.

    Your paying another $3.75 over that for an uncirculated coin. Again, not a bad deal. The question you need to ask yourself is: "How much of a premium are you willing to pay for a mint state coin?"

    I think silver has the potential to climb even higher than the prices we are seeing now. But if you want the best deal from a pure silver bullion investment perspective you'd be better off buying the circulated peace dollars.
  7. WingedLiberty

    WingedLiberty Well-Known Member

    thanks for all the feedback and input ... this is helpful ... i think i will take a look at the coins tomorrow ... if they look like MS63 and 64's (which i doubt) i will spring ... if they look like marginal MS60's will pass ... i expect these to be pretty picked over and ugly so will probably end up passing.
  8. Leadfoot

    Leadfoot there is no spoon

    If you are trying to get silver, why pay the premium when 90% and some bars can be had for much closer to spot?

    If you are trying to collect peace dollars, why take a group?

    If you are trying to cherrypick nice coins, don't you think the dealer has already gone through them?

    It seems to me that this deal is not a particularly good one, but the group of coins would be worth a look.

    Why are you considering it?
  9. WingedLiberty

    WingedLiberty Well-Known Member

    Just came back from the dealer.

    I ended up buying the 100 lot of Unc. Peace Dollars for $22.75 per coin.

    They were nicer than i was expecting ... this is a typical coin from the 5 rolls.
    Sorry about the bad photography ... this is using my iphone (hand held) under kitchen lights

    If worse comes to worse ...
    if silver passes $30 an ounce over the next few years ...
    i can get all my money out from the bullion.

    i didnt see any tell tale signs of harsh cleaning -- tho dipping at some point in their lives is likely.

    many of the coins had really nice luster.

    i could always give them out as gifts!
    who wants one ; )

    i wonder if some of the coins i bought might grade as MS63 or higher?
    i might cherry pick the nicest one and send it to PCGS just to see.


    This coin actually looks a lot better in hand than my cr@ppy iphone photo
  10. LostDutchman

    LostDutchman Under Staffed & Overly Motivated Supporter

    Slider unc peace dollars are worth $18.50 - $19 from the big show guys. Low end Uncs are worth 20-22. This is wholesale mind you... so while you probably paid all the money for these coins... you didn't get slaughtered.
  11. WingedLiberty

    WingedLiberty Well-Known Member

    that's not bad! thanks LD
  12. panther

    panther Junior Member

    Peace Dollars for me are very difficult to grade due to lots of soft strikes. If you believe it's a good deal then go for it. I would not pay more than $20 a coin.
  13. Carl

    Carl Member

    Giving out as a gift I will take one. thanks:)
Draft saved Draft deleted

Share This Page