US Coins

1924 Peace Dollar features 'oil slick' tones

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:

1924 Peace dollar, MS-64 CAC

The Price:


The Story:

A normal, brilliant 1924 Peace dollar graded Mint State 64 is a common coin, typically selling for around $50. On Aug. 21 four bidders chased this coin past the $2,000 mark on its way to a final price of $2,751.10. The coin is graded MS-64 by PCGS with a green CAC sticker.

The obverse features deep “oil slick” coloration of rich magenta, azure blue, gold and smoky charcoal colors.

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The price was extraordinary for a coin that has few visual equals. There are many theories as to why Peace dollars don’t tone as Morgan dollars do, but none of these theories has emerged as a dominant one, and intensely toned Peace dollars remain very rare.

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

Sensationally toned 1934-D Peace dollar highlights the Larsen Collection

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

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