The Peace silver dollar is a famous coin of American history, celebrated because of its artistic beauty and historical value. This coin was first minted in 1921 and represented a coin following World War I. For both investors and collectors, it is important to grade peace silver dollars properly. To achieve this, one has to be familiar with the Sheldon grading system, which is extensively utilized by numismatists. In this article, we’ll discuss the grading process step by step, providing detailed descriptions of each grade.
Grading Standards for Peace Silver Dollars
When evaluating Peace silver dollars, it’s important to first classify them into one of three main groups. These categories contain:
- Circulated Coins: Coins that have been in public use.
- Poor, Fair, and About Good (Grades 1-3)
- Good to Extra Fine (Grades 4-49, with EF 45 as the highest in this category)
- About Uncirculated Coins: These coins spend a limited time in circulation and are classified between AU 50 and AU 59.
- AU 50: About Uncirculated
- AU 55 and AU 58: Choice About Uncirculated Coins
- Mint State Coins: These coins were never circulated and keep their original mint condition. Grading ranges from MS 60 to MS 70:
- MS 60: Mint State Basal coins
- MS 63: Mint State Acceptable coins
- MS 65: Mint State Choice coins
- MS 68: Mint State Premium Quality coins
- MS 69: Mint State Almost Perfect coins
- MS 70: Mint State Perfect coins
Understanding Grade Peace Silver Dollars
The design and historical value of peace silver dollars make them valuable. Correct grading ensures their accurate valuation even though they are abundant. An overview of the most popular grades is provided below:
1. About Good (AG 3)
- Characteristics: The design is almost identifiable because of extreme wear. The date and the eagle’s and Lady Liberty’s simple designs are all that can be seen.
- Obverse: Lady Liberty’s crown and hair are hardly visible because of the extreme smoothing of her head. The inscriptions along the edge are often missing or combined.
- Reverse: The eagle seems as a light outline with no visible details. The word “PEACE” is typically worn away or illegible.
2. Good (G 4)
- Characteristics: Significant wear but with recognizable features. The coin is worth its silver melt value.
- Obverse: Lady Liberty is real, though details are flat and light. Hair strands are joined, and the crown spikes are unclear.
- Reverse: The eagle is an outline with no feather detail. The word “PEACE” is weak and partly faded.
3. Very Good (VG 10, VG 8, VG)
- Characteristics: Moderate wear, but the design is still visible. Major elements are determined but lack clear detail.
- Obverse: Lady Liberty’s hair is worn but different. Inscriptions and dates are readable but flat.
- Reverse: The eagle shows light feather details. The edge is partially defined, and the word “PEACE” is somewhat visible.
4. Fine (F 15, F 12, F)
- Characteristics: Even wear across both sides, but all inscriptions are readable. Designs have little detail.
- Obverse: Hair waves above Liberty’s forehead are visible, though smooth. The rays from her crown are present but just worn.
- Reverse: The eagle’s body has faded details. The olive branch is visible, though smooth, and the word “PEACE” is complete but faded.
5. Very Fine (VF 35, VF 30, VF 25, VF 20)
- Characteristics: Slight flatness on the highest design points, with moderate wear overall. An attractive grade for collectors.
- Obverse: Most hair strands around Liberty’s face are separated. Sun rays and inscriptions are sharp.
- Reverse: The eagle’s feathers are well-defined, particularly on the wing and leg. The word “PEACE” is intact.
6. Extra Fine (EF 40, EF 45)
- Characteristics: Minimal wear, sharp details, and possible traces of mint luster. Collectible grade.
- Obverse: Lady Liberty’s hairlines are strong, though slightly worn. The surface shows traces of the original luster.
- Reverse: Feather details are pronounced, with only slight smoothing at the highest points. Inscriptions are sharp and clear.
7. About Uncirculated (AU 58, AU 55, AU 50)
- Characteristics: Nearly perfect coins with minimal contact marks and slight wear on the highest points.
- Obverse: Liberty’s cheek and hair above her forehead may show minor wear, but the overall luster remains intact.
- Reverse: The eagle retains sharp feather details, with only the wing’s top showing light wear.
8. Mint State (MS 60 to MS 70)
- Characteristics: Flawless or near-flawless coins. Variations in grading depend on minor imperfections and bag marks.
- Obverse and Reverse: Coins in this grade have complete details, sharp inscriptions, and no visible wear. Mint luster is intact, and higher grades (MS 68-MS 70) have minimal or no imperfections.
Special Considerations for Rare Peace Dollars
Some certain Peace silver dollars are extremely challenging to grade because of their rarity:
- 1921 Philadelphia: The first Peace dollars, famous for their high-relief design.
- 1934 San Francisco: Rare in uncirculated condition, making them valuable collector pieces.
Proper grading of these coins is critical for determining their worth. For rare coins, a professional appraisal is often recommended to ensure accuracy.
Free Coin Appraisal and Selling Options
If you’re uncertain about your Peace dollar’s grade or value, consider using a free estimate service. Many platforms present coin evaluations by experts, helping you sell your coins for their true value.
Conclusion
Although grading Peace silver dollars is a very important process for both investors and collectors, it does take expertise and experience. You can accurately evaluate the worth and condition of your coin by using the Sheldon grading scale. Understanding the grading procedure is important whether you’re working with rare mint-state specimens or frequently circulated coins.