Came across this highly priced raw toned peace dollar. And was curious to learn if people think if this is NT or AT? Market acceptable? Will it slab? I know those colors are worth a premium, and if slabbed this would be worth way more, but this one is so crusty and parts of the reverse are so far black crust that I think it won't straight grade. However was curious to learn more experienced collectors thoughts. https://www.ebay.com/itm/144410955074?hash=item219f904d42:g:eLwAAOSwt8JiCFFH
Parts of that coin seem to have entered the "environmental damage" territory. So while the color could pass, I don't think the coin makes it into a straight graded holder.
QC at least. I don't trust that color at all. Sure it could be natural but it also could be artificially enhanced, in order to save the coin and hide the flaws. If the coin was already damaged, you aren't going to make any less by artificial toning, and the odds are someone will overpay for it. That being said, even if the coin is 100% legit, I don't like the eye appeal. 1922 is a very common date and this is WAY WAY overpriced IMO.
Remember my initial advice for Morgan Dollars, it holds true for Peace Dollars as well. Common Date: Strike 1 Low Grade: Strike 2 Raw with Questionable Toning: Strike 3 For what its worth, I think the toning on that Peace Dollar is natural, meaning I don't think anyone intentionally created the toning. It looks to have resided in a Whitman folder for a long time and not in a temperature controlled environment. Virtually the entire reverse has near terminal toning from being in contact with the paper of the folder. The obverse has similar toning at the peripheries which also were in contact with the paper, but the centers have a rainbow progression that is the typical target toning pattern found on coins stored in albums. This pattern is somewhat common on Peace Dollars and I once owned a fantastic rainbow toned Peace Dollar with the same pattern, but not nearly as advanced as the coin you linked. The coin you linked has several problems. First is the near terminal nature of the reverse toning that could easily land this coin in a details holder if submitted. Second, the colors found on the obverse are not typically found on Peace Dollars. Putting aside David Hall's (former President & founder of PCGS) that all rainbow toned Peace Dollars are artificially toned, pink and lime green are very rare on Peace Dollars and any coin exhibiting those colors should face increased scrutiny as to the originality of the toning. So while I already stated that IMO, the coin has not been artificially toned, I still think that the toning is the result of improper storage, and that is still deserves to resided in a details holder for questionable toning. The last problem I have with that coin is the price. Even if the coin were in a problem free holder, that coin would only be worth a fraction of what the eBay seller is trying to charge for it raw. To give you an idea, the coin I have shown above sold twice for just north of $1K. I will let you decide which coin is the better specimen.
I have to admit, I am confused. Why would anyone want to pay that much for that coin. Toning can't be the reason and that coin wouldn't be worth the cost of paying to have it graded, so what's the discussion about? Is this a rare, one-of-a-kind coin and I'm just missing something?
Toning is the reason, Peace Dollars are exceedingly rare with rainbow toning that covers and entire side of the coin, and when a nice "problem free" one hits the market, it typically drives a huge premium.
There was a time people overpaid for toning. I assume the seller is trying to capitalize on that. I thought that ship had sailed? But I don't even know how to pronounce Kyiv anymore.
I guess everything has been said already. That’s why I’ll only post pictures of my current registry set Peace dollar. Compare its toning, surface preservation and luster to the coin in question. My coin only graded MS64 so I wouldn’t have any high hopes for that eBay coin ;-)
The reverse on that coin is an absolute work of art, even (or especially) if the only artist is Mother Nature.
@Lehigh96 Would you say pink and green drives the most premium for slabbed toned peace dollars? What about purple and green? Also appreciate the thorough writeup it was very educational.
