Peace Dollar - The learning of a lesson

Hello all,

As a new collector I am learning my lessons and taking my lumps as they come...Thought I would share this and ask for some possible grades (I do know that its hard with pics)

I would also like you all to know - YES, I will not buy another graded coin other than the ones in the top 4 TPG's...so, I do know these NAC guys might not be grading coins to the highest standards (LOL). Now, I have done enough research to know that this cant be MS66 1923S...but, I did like the coin from the pics, thought is was nice and could grade well.

So - grade thoughts and what you would have paid for the coin...? Also, should I hack this thing out of the NAC case and send it in? (is it worth it?) big jump between MS60 - MS64...

Thanks - and BTW everyone here has been awesome...

 

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Peace dollars are hard to grade for me, but based on how beat up that obverse is, I'd have to say XF.
Guy

 

I'd grade it at AU-53 based on the fact that it still has some decent luster and the wear on the eagle's feathers on the reverse.

 

Peace dollars are tough to grade as many were poorly struck from the mint. The one in the pic has alot of contact marks on both sides and looks to have been cleaned to me. I dont think it will grade over MS60 at best. Remember this is just my opinion and I just have pics to judge from so there ya go.

 

Tough to grade from pics, but I would say MS60-62. I would also leave it where it is right now as a reminder. I would have paid around $25 for it. TC

 

MS-62 assuming their is no wear, which can't be discerned from the pictures.

 

@topcat - you know...your right about that...a good reminder...I paid 50.00...man, I suck. This whole grading thing is tough business...just on this little post we have MS62 to XF...its hard for a new guy to learn...

@bald - whats a good way to tell about the cleaning?

 

Grading coins is Hard! Never buy from a basement company again at ridiculous premiums if topcat would only pay $25.00 for it! Remember: Buy the coin and not the slab.:thumb:

 

Rest assured that the coin is not XF. Now, to ascertain if it has been cleaned, there are multipe ways.

1) look for hairline scratches under magnification.
2) In higher grade au and ms coins, if there is a lack of cartwheel like muster, its probably been cleaned.

 

based on the pics im not going to give you my grade. i will say ive seen alot of toned peace dollars in those cheezy NAC slabs but i wouldnt gamble on ebay for them.

 

I need a better way to view and take pics, has anyone every used this http://cgi.ebay.com/Coin-Collecting...38944028?pt=LH_DefaultDomain_0#ht_20853wt_913

Just wondering if it would help in the grading...then I was thinking I could look at a true MS coin...then compare? Do you think it would help?

 

@lugia - what do you mean by toned? Yes, I will never gamble again...sucks because I could have added another 50-100 buck to it and had a real nice coin...

 

To learn to grade coins you absolutely must look at genuine coins - LOTS of genuine coins. But first you have to learn what to look for. Education and experience. That is the only way to learn to grade coins. There are no shortcuts.

 

tarnished/toned/colored how ever you want to describe it.

i should add this same person is selling ALL TONED NAC slabs. i wouldnt trust any of these to crossover to NGC or PCGS.
http://shop.ebay.com/coinmanpro2/m.html?_nkw=&_armrs=1&_from=&_ipg=&_trksid=p3686

 

It has been cleaned. There are hairlines all over it. I can't really tell if there is any evidence of circulation from the pictures. I don't see any on the hair but the truncated part of the neck seems to show some.

Don't feel bad. I did almost the same thing. When I first started I purchased a few raw Peace Dollars graded MS 60 to MS 63 by the dealer. Now that I know a lot more about grading and how to spot cleaned coins I can tell that two are clearly AU and the uncirculated one has hairlines ALL over it.

They were common dates and I didn't pay more than $25 for any of them. Lesson learned. I keep them as a warning and to help my grading skills.

I wouldn't worry to much about paying $50 for a coin like this. It could have been way worse. I know guys that have bought raw gold coins and paid for a significant numismatic premium to find out later they had been cleaned. They came back bagged from NGC.

I only buy from NGC and PCGS. They are the most trusted and if I want to move some coins, slabs from those two TPG make your collection much more liquid.

 

Maximum...also keep in mind that if that if that 1923 s was an MS 66 the guy who sold it to you would have sent it in to NGC or PCGS. Guaranteed.

I was at a show last weekend and a guy had a beautiful 1928 peace dollar. You can bet your @ss there was something wrong with that coin, or he would have paid to have it slabbed.

Lastly, there are no "steals" in this hobby if you are dealing with experienced people. In my opinion you do well to pay fair market value for coins.

 

@ tommybee - well if this hobby was SO easy I guess it would not be as fun. CT crew always has great feedback and I am learning a ton...but this grading thing is a real subjective thing...

Interesting point you just made though...there are not many coin dealers here in Orlando...I found one and spoke to the guy a week ago. He told me to not buy slabbed coins...geez, I guess I am confused. This is a hobby and I love the coins but it does make since to be able to sell them if needed...humm

 

Tommy - you know, about 2 sec after I hit the confirm bid button that was my exact thought...but question - the 1928 peace, did you see it? could you tell if there was something wrong?

 

UGH Lugia - exactly...I will stay away

 

Max - I will NOT even consider buying a non-slabbed coin if I'm paying over $50. I simply don't have enough experience with grading to take that chance. By buying raw coins you run the risk of ending up with damaged/cleaned/counterfeit coins. NGC and PCGS are not perfect, but they allow you to be certain of two things... 1. the coin is not a fack 2. the coin has not been cleaned/altered.

Again, people buy PCGS/NGC slabbed coins with confidence. However, the smart buyer buys the coin, not the slab. You will see huge differences in strike, luster, etc., in some coins of the same grade. The smart buyer pays MS 65 money for a MS 65 + coin. You want to buy a coin that is high for its grade. That's why people like CAC stickers, green beans.....

Good luck and have fun. If you only waste 25$ on bad decisions in this hobby you are WAY ahead of the game.

tom