Unusually attractive toning on 1927-S Peace dollar boosts price

Market Analysis: ‘Simply stupefying’ toned dollars top expectations at Legend's New Orleans auction
By , Coin World
Published : 05/30/17
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Legend Rare Coin Auctions held its 21st Regency Auction May 18 in New Orleans. The top lot was a 1793 Flowing Hair, Wreath, Lettered Edge cent graded Mint State 64 brown by Professional Coin Grading Service, with a green Certified Acceptance Corp. sticker, that realized $293,750. However, as typically seen with Legend’s auctions, toned silver dollars stole the show, with both Morgan dollars and Peace dollars among the offerings. Legend’s Laura Sperber concluded, “It does amaze us how extreme the depth of the market is for these amazing works of art. The demand for the simply stupefying amazing toned dollars is just never ending.”

The Lot:

1927-S Peace dollar, PCGS MS-65 CAC

The Price:


The Story: 

Unlike Morgan dollars, Peace dollars are rarely seen with attractive toning. When Peace dollars show toning, the colors tend to be rather dull shades of salmon pink, dusky gray and yellow-green. Attractively toned Peace dollars are unusual and this 1927-S Peace dollar graded PCGS MS-65 and bearing a green CAC sticker sold for a strong $15,275 at Legend’s Regency XXI auction.

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Legend was bullish about the quality of the tough San Francisco Mint issue, writing, “We marvel at why PCGS did not grade this coin at least an MS65+.” The description added, “The surfaces are as clean and smooth as you will EVER see. Even using a strong glass the quality will NOT disappoint you.” The typical 1927-S Peace dollar is dull and weakly struck, making this lustrous and bold dollar an exception.

Legitimate gold coin resistance from the U.S. MintGold coin resistance at U.S. Mint and a deceptive but detectable counterfeit Indian Head cent: Another column in the June 12 Coin World details the discovery of what seemed to be a rare 1917 French Indo-China 10-cent piece.

Bidders agreed that it was unusually appealing for the grade and it sold for nearly double what a comparably graded example realized at auction earlier this year. Adding to the desirability is the absolute rarity of examples graded finer.

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