US Coins

Toning on 1921 Peace dollar a pleasant surprise

By Steve Roach

Published: Sep 8, 2016, 10 AM

This unusually toned MS-64 1921 Peace dollar from Dale Larsen’s collection has the issue’s signature high relief and brought $1,100.

Original images courtesy of GreatCollections.

This unusually toned MS-64 1921 Peace dollar from Dale Larsen’s collection has the issue’s signature high relief and brought $1,100.

Images courtesy of GreatCollections.

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:

1921 Peace dollar, MS-64

The Price:

$1,100

The Story:

The 1921 Peace dollar is a distinct subtype within the Peace dollar series with its high relief design. The relief was lowered for circulation-strike issues in 1922 and that lower relief followed to the conclusion of the series in 1935.

Connect with Coin World:

This 1921 Peace dollar, graded MS-64 by PCGS, has interesting toning that has citrine color clinging to the rims and more mauve/gray color elsewhere. 1921 Peace dollars are notorious for having generally unattractive toning, so the intense yellow/green color near the date is a welcome surprise. A bidder paid $1,100 for the unusually attractive dollar, nicely exceeding the $700 that typical examples bring at auction, but far lower than the premiums that a “monster toned” example might bring.