Sensationally toned 1934-D Peace dollar highlights the Larsen Collection

Market Analysis: Peace dollars don’t tone like Morgan dollars, making colorful ones rare
By , Coin World
Published : 09/06/16
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While Morgan silver dollars often exhibit gorgeous toning, rainbow colors are less likely seen on the Peace dollar.

GreatCollections recently sold dealer Dale Larsen’s collection of toned Peace dollars, and the online auctioneer’s president, Ian Russell, said, “It’s always a privilege to sell a well-known numismatic dealer’s personal collection. Dale put together his toned collection over 20+ years and it shows,” before adding, “Peace Dollars are notoriously difficult to find attractively toned.” 

Here is one of three toned Peace dollars from the Larsen Collection that caught my eye for this week's Market Analysis: 

The Lot:

1934-D Peace dollar, MS-65 CAC

The Price:


The Story:

One of the most sensational toned pieces in Larsen’s collection was this 1934-D Peace dollar graded MS-65 by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker that sold for $7,975. The obverse showcased brilliant centers and even gold/green/orange color along the rims.

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The reverse has a rich range of indigo, amethyst, sunset tones and just a smattering of untoned patches that create a tapestry-like surface texture. This type of beautiful color is virtually never seen on Peace dollars. More often than not, Peace dollars tone in rather unattractive ways, with mottled gray and salmon pink or green/gold color combinations, making those with gorgeous color especially coveted by Peace dollar and toned silver dollar collectors.

Typical MS-65 examples of this date sell for $1,200 or so at auction; this one sold for multiples of what a typical MS-66 example might bring at auction.

There are more toned Peace dollars to read about in this latest Market Analysis:

1921 Peace dollar known for ugly toning, so Larsen Collection example a pleasant surprise

1924 Peace dollar from the Larsen Collection features ‘oil slick’ tones

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