The silver Peace Dollar is one the most highly regarded coins ever minted by the U.S. Mint. Because Peace Dollars were only produced in limited quantities and for only a few years, serious coin collectors may wish to own these coins from each edition made.
Peace Dollars are almost 100 years old, and due to their age, many of the Peace Dollars available for sale today may display visible signs of wear and tear. This is not unusual, especially given the fact that these coins were minted for circulation purposes. Although many of these coins do show their age, there are also Peace Dollars still available in brilliant, uncirculated condition as well.
The coin grading process is very thorough and can become very complex. Although coins go through a subjective grading process, much of a coin’s assigned grade is attributed to the opinion of an expert coin grader. These expert coin graders thoroughly examine each coin to determine how well the coin has stood the test of time and to determine the coin’s overall condition. Just as with other types of coins, the better the overall condition of the coin, the more valuable the coin may be. You can get a good idea of a coin’s grade by closely examining both sides of the coin and looking for any imperfections in the coin’s images, wording, texture or color.
Use the specifications below to determine how your Peace Dollar coin may be graded.
Uncirculated: An uncirculated 1924 Peace Dollar coin is one that shows no signs of wearing or imperfections. Although these coins are nearly 100 years old, a coin in this condition will look as if it just came out of the mint’s presses. Uncirculated coins will have no wear and tear on the imagery or wording, although they may take on a slightly different color or tone due to age. You can very easily use a magnifying glass to examine your coins. The magnifying glass makes it easy to examine the coin’s images and other details, and you can look to see if some of the details have been worn away slightly over time.
Extremely Fine: Just a step below uncirculated condition, an extremely fine coin will show only minor wear on the coin’s images or wording. Some of the smaller details of the coin may be worn due to age and exchanging hands over the years. In addition, the coin’s texture may feel smoother overall. Despite this, coins in extremely fine condition are considered to be in excellent condition and are still very attractive.
Fine: A coin in fine condition has kept all of its details intact, and they are easily discernible. There are, however, visible signs of wear and tear on the coin. Coin details such as lettering or images may be worn down and smooth and the coin’s finish may appear duller.
Good: A coin in good condition has very visible signs of wear and tear, and you may need a magnifying glass in order to determine the coin type, mint year and other information. While coins in good condition are nowhere near pristine, they are often times still very popular among collectors due to potential scarcity and difficulty in obtaining.
As stated previously, Peace dollars were only made for a limited time and in limited quantities. The 1924 edition is sought after by coin collectors due to its historical significance, silver content and aesthetics. Because of these factors, the price for this coin regularly exceeds $30.
1924 Peace Dollar
|1924 Peace Dollar||N/A||N/A||$32||$37|
|1924 Peace Dollar (S)||N/A||N/A||$40||$60||Source: Red Book|