Fair price to pay for a 1928 Peace Dollar?

[mintcollector]

Hello All,

 

I have been looking at getting my last and only key I need from the Peace Dollar series in MS 63 or 64 condition. Almost every coin I look at is sad to say, an ugly golden tone. I found one in MS 64 graded by PCGS, but it is close to $1300; well above what the coin usually sells for in online auctions. Knowing that this coin is the 'key' to the series is $1300+ too much to pay or a MS 64 that is NOT CAC'ed?

 

Any opinions on ths are appreciated.

 

 

[MarkFeld]

I think $1200 is a reasonable price to pay for an MS64 example. And that $1300 is not out of line for a superior one.

[Walkerfan]

They seem to be selling in MS 64 from 950-1100.

 

I agree with Mark that 1200 or more would be acceptable for a PQ example. I wouldn't go above 1400-1500, though.

[RWB]

There are a lot of "low end" pieces running around. Buy only the best UNC you can afford.

 

(In one of my rare purchases and grading events, I paid $600 for an ungraded coin that later was slabbed at MS-66 several years ago in an auction. I got a good price, but I also took considerable risk.)

[Kurtdog]

That's tough. I guess if there's a consolation it's that a 1928 $1 piece of plastic (hey, I just thought of this, a "Piece" Dollar, ) is going to hold its own in value. It may go $100 or so, either way, but you're not going to get killed. I frankly like the idea of looking for an ungraded MS63-64 1928 $1, but then you have to know how to grade (not suggesting you don't, just stating a fact, given you have a target grade), and, I don't know, I'll bet, given this is a key, those might be harder to find than you'd think.

[orifdoc]

With Peace dollars there is ugly golden toning & nice golden toning (a common age-appropriate look). The broader market favors white coins - just be aware that many of them have been dipped.

 

That said, attractive white 1928 dollars in the grades you're talking about aren't that hard to find. There's usually a handful to pick from at major auctions & the bigger dealers usually have them. Don't be afraid to pay up for a really nice one. There is no substitute for quality. Bargains usually aren't.

[coinman_23885]

I think Peace Dollars are listed in the Blue Sheet. If so, there should be CAC bids there, and I would use that as a gauge in pricing the piece if you are sure it is a solid to high end coin. Is the coin stickered by CAC?

[MarkFeld]

I think Peace Dollars are listed in the Blue Sheet. If so, there should be CAC bids there, and I would use that as a gauge in pricing the piece if you are sure it is a solid to high end coin. Is the coin stickered by CAC?

 

The OP indicated in his original post that the coin is not CAC certified: "Knowing that this coin is the 'key' to the series is $1300+ too much to pay or a MS 64 that is NOT CAC'ed?"

 

[Nutmeg Coin]

Not that tough a coin, but the rarest of the P mint dates apparently. Richard at Laurel City had one of those in his shop last year that he wanted between 63 and 64 money for, I just saw too much chatter to consider it a 64. Last time I stopped in he had gotten it in the 64 holder, now he wants a couple hundred more for it. There are plenty of reasonably priced 63s and 64s out there, I would just advise people to just do a thorough search.

[mintcollector]

I thank you greatly for all your help!

 

I have done business with this particular dealer before. If the coin had a chance of being CAC'ed I really think he would have submitted it, but I could be wrong.I was a little concerned because auction records don't seem to justify paying $1300 for this coin, however sometimes viewing past sales on numismatics (especially when using this information to justify current purchases) can be misleading.

 

I am still in thought on this.

 

By the way, I would not be comfortable buying a 'raw' coin and submitting it myself. The idiosyncrasies within the market and my own coin grading ability are such that I just would not risk it at this time.

 

 

[Afterword]

For me, there would have to be something special about it to warrant that kind of money.

[Curry]

You have a picture of it by any chance?

[mintcollector]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

 

[MarkFeld]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

 

Why?

[Raisethis2]

I would be very wary of such a coin not in a holder by now. I'd really want to know why?

[MarkFeld]

I would be very wary of such a coin not in a holder by now. I'd really want to know why?

 

It's fine to be wary of such coins. However, I hope that everyone understands there are reasons other than over-grading or problems, that coins of high value have not beeen slabbed. And many non-slabbed coins are perfectly nice, as well as fairly priced.

[mintcollector]

I would be very wary of such a coin not in a holder by now. I'd really want to know why?

 

The coin in question is slabbed by PCGS in 64. I apologize if you meant in general terms, but the coin I am interested in is in fact slabbed.

[mintcollector]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

 

Why?

 

The last time I did this it jeopardized the sale.

 

 

 

 

[Mr.Mcknowitall]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

 

Why?

 

The last time I did this it jeopardized the sale.

 

 

 

 

Then isn't it really unfair to the Buyer? If the Dealer/Seller was asked about taking a picture for the purpose of receiving opinions of the coin that would help in the decision process, and the Dealer/Seller is not identified in any manner, I fail to understand how it jeopardized the sale.

 

If the Dealer/Seller refuses to have a picture taken within the parameters I just stated, Then I would not feel comfortable purchasing the coin.

 

If someone just walks up to a Dealer/Seller's location and starts pulling a Jimmy Olsen without asking, then yes I would be offended, for the simple reason that it is lack of manners.

 

It might also be a situation that can be a learning experience for you. Look at as many of the same type coins as possible. Get to know and respect the coin and its nuances. You may find you don't need pictures or the opinions of others that would be given based on a photo.

[originalisbest]

Hello All,

 

I have been looking at getting my last and only key I need from the Peace Dollar series in MS 63 or 64 condition. Almost every coin I look at is sad to say, an ugly golden tone. I found one in MS 64 graded by PCGS, but it is close to $1300; well above what the coin usually sells for in online auctions. Knowing that this coin is the 'key' to the series is $1300+ too much to pay or a MS 64 that is NOT CAC'ed?

 

Any opinions on ths are appreciated.

 

 

When you say "ugly golden tone", I fear you may be throwing the baby out with the bathwater; depending on how deep or truly "ugly" the tone in question may be. If you are approaching this Peace Dollar with a "brilliant is best" mentality, then I fear you'll be paying what you will perceive to be a "bargain price" for what will turn out to be a brilliantly-overdipped specimen.

[orifdoc]

In 5 minutes of searching I found a few options.

 

The upcoming Heritage auction has three or four that might be of interest to you. There is an MS64 in an NGC holder that looks promising. Don Rinkor has four white coins in MS64 and one in 63+ on his site at the moment. Larry Shapiro usually has several, but at the moment it looks like he has only a couple of MS64+ coins - probably out of your price range. Both of those guys are great to work with.

 

I haven't looked at PQ Dollars (Steve Twitty's site), John Hamrick's site, GR Tiso's site, Mike's Coin Chest, eBay, or Collectors Corner. There are probably a dozen or so coins on the market right now to pick from. I'm sure I'm forgetting one or two.

 

Good luck finding a good one!

[jpcienkus]

Hello All,

 

I have been looking at getting my last and only key I need from the Peace Dollar series in MS 63 or 64 condition. Almost every coin I look at is sad to say, an ugly golden tone. I found one in MS 64 graded by PCGS, but it is close to $1300; well above what the coin usually sells for in online auctions. Knowing that this coin is the 'key' to the series is $1300+ too much to pay or a MS 64 that is NOT CAC'ed?

 

Any opinions on ths are appreciated.

 

 

When you say "ugly golden tone", I fear you may be throwing the baby out with the bathwater; depending on how deep or truly "ugly" the tone in question may be. If you are approaching this Peace Dollar with a "brilliant is best" mentality, then I fear you'll be paying what you will perceive to be a "bargain price" for what will turn out to be a brilliantly-overdipped specimen.

 

I agree that golden toning doesn't have to be ugly. At least that's what I interpreted from part of your post. I happen to own a beautiful golden 1927 Peace dollar. I love it. The toning is light and even.

[Curry]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

And why is that?

[mintcollector]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

And why is that?

 

Knowing that it would most likely give away the dealer and possibly jeopardize the sale why would you think otherwise?

 

I mean that out of genuine curiosity just due to the fact if the situation was reversed I would not dare ask for those same reasons noted.

 

I will gladly release the details of the transaction as soon as it is finalized, but I am already in negotiations. I would also be more than happy to hear your thoughts on the coin at that time.

 

I also appreciate the advice of all parties; critical or not.

 

 

 

 

[Curry]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

And why is that?

 

Knowing that it would most likely give away the dealer and possibly jeopardize the sale why would you think otherwise?

 

I mean that out of genuine curiosity just due to the fact if the situation was reversed I would not dare ask for those same reasons noted.

 

I will gladly release the details of the transaction as soon as it is finalized, but I am already in negotiations. I would also be more than happy to hear your thoughts on the coin at that time.

 

 

I also appreciate the advice of all parties; critical or not.

 

 

 

I get what u mean but the fact that u asked the question and being me and maybe many others we would need to see the coin before paying a price for it.

[mintcollector]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

And why is that?

 

Knowing that it would most likely give away the dealer and possibly jeopardize the sale why would you think otherwise?

 

I mean that out of genuine curiosity just due to the fact if the situation was reversed I would not dare ask for those same reasons noted.

 

I will gladly release the details of the transaction as soon as it is finalized, but I am already in negotiations. I would also be more than happy to hear your thoughts on the coin at that time.

 

 

I also appreciate the advice of all parties; critical or not.

 

 

 

I get what u mean but the fact that u asked the question and being me and maybe many others we would need to see the coin before paying a price for it.

 

You raise an excellent point. My question was in general as normally I use previous auction records and price guides to ascertain a fair price to pay. This can be a mistake however as some coins do deserve a premium.

 

As for some of the other questions asked; I do not like overtly toned coins, so while the consensus may very well be that a golden toned peace dollar should carry a premium I would rather own a subtly toned or blast white coin instead.

 

 

[MarkFeld]

You have a picture of it by any chance?

 

I personally don't think that would be fair to the dealer in question.

 

And why is that?

 

Knowing that it would most likely give away the dealer and possibly jeopardize the sale why would you think otherwise?

 

I mean that out of genuine curiosity just due to the fact if the situation was reversed I would not dare ask for those same reasons noted.

 

I will gladly release the details of the transaction as soon as it is finalized, but I am already in negotiations. I would also be more than happy to hear your thoughts on the coin at that time.

 

 

I also appreciate the advice of all parties; critical or not.

 

 

 

I get what u mean but the fact that u asked the question and being me and maybe many others we would need to see the coin before paying a price for it.

 

You raise an excellent point. My question was in general as normally I use previous auction records and price guides to ascertain a fair price to pay. This can be a mistake however as some coins do deserve a premium.

 

As for some of the other questions asked; I do not like overtly toned coins, so while the consensus may very well be that a golden toned peace dollar should carry a premium I would rather own a subtly toned or blast white coin instead.

 

 

I don't think there is anything even resembling a consensus that "a golden toned peace dollar should carry a premium". I'm not sure where that thought came from.

[Walkerfan]

I like WHITE peace dollars, unless they are rainbow, freak anomalies.

[jpcienkus]

I too prefer white, but the light gold tone can be very beautiful. I paid a fair price for mine and don't think the toning had anything to do with it. It was the eye appeal.

[Curry]

I too prefer white, but the light gold tone can be very beautiful. I paid a fair price for mine and don't think the toning had anything to do with it. It was the eye appeal.

To have a toned peace dollar is a bit strange. It's best served blast white.