The above Peace Dollar is an image of an authentic US silver dollar for reference, even though counterfeits are out there, it’s not the only problem collectors need to be aware of in the market places. It’s true that counterfeit Peace Dollars abound but so does cleaned, artificially toned and mis-represented specimens that are major concern as well. Information from reputable sources is the key and I will briefly introduce some important pointers in this article.

First, let’s talk a little about counterfeits and how to identify them. The image below is of a counterfeit Peace Dollar.

Counterfeits and Copies:

It should be obvious to experienced collectors that this coin is a fake, but not all images or coins are as obvious. A counterfeit could appear authentic in-hand but the weight will not be correct for a 90% silver coin of the same size. If you can’t readily weigh a coin, because your at a flea market or it’s being sold by a Street Vendor, then don’t buy the coin.

Another thing you should check is if the date and mint were actually produced because I have seen a few wrong date and mint mark combination Peace Dollars.

The US Mints only produced Peace Dollars from 1921 through 1928 and then again in 1934-1935, and the best way to know if the date and mint you’re looking at was actually minted by the US  is to know the coin series, and the dates and mint marks that were produced for each year. I just wouldn’t buy a coin that I didn’t know something about, but if you’re knew to collecting the following paragraph is a must read.

In 1921, the Peace Dollar was minted at the Philadelphia Mint and have no mint mark, from 1922 and 1923 they were minted without a mint mark or with a D (Denver Mint) or S (San Fransisco Mint), 1924 and 1925 was minted with no mint mark or an S mint mark, 1926 and 1927 was minted without a mint mark or with a D or an S, 1928 through 1935 was minted with out a mint mark or with an S mint mark.

If you see an 1928-D or 1935-D or any other date or mint mark combination, different than the years and mints specified above, then you should realize it’s a counterfeit coin.

Also, closely examine coins that appear to be good bargain, because they are usually fake. You should look at the letter and number font and compare them to an authentic Peace Dollar. Ask yourself some questions like “Do I know this seller?” or “Is this deal to good to be true?” If they’re are selling a large amount Peace Dollars, at prices well below retail, then it’s not wise to purchase their coins.

Furthermore, you should never buy a silver dollar on the seller’s word alone or if you’re not experienced in buying Peace Dollars. It’s just not worth the risk. 

Proof and Proof Like:

It’s very rare for a Peace Dollar to be proof like or deep mirror proof like, so it’s no wonder that some sellers have tried to describe the Peace Dollars they are selling as such or even clean or doctor their coins so they appear to have these attributes. Don’t be fooled!

Proof Morgan Dollars were only produced, in very small numbers, in 1921 and we’re talking about a number less then twenty specimens total. So the proof Peace are very rare and are in collections of well known collectors and can be tracked. Also, any PL  Peace Dollars should be examined closely and preferably purchased already attributed as such by a reputable grading service like PCGS or NGC.

Don’t be fooled, very few coin grading services will suffice in regard to attributing PL Peace Dollars! Only by PL Peace Dollars in PCGS, NGC, ANACS or ICG holders.

Graded and Slabbed:

The above image is of two graded Peace Dollars and that are over-graded. You should never buy a coin by the grade on a label, and never take the word of a seller who is selling already graded coins by just any “Alphabet” grading service. If you do, remember this, the coin might have been graded by the seller, placed in the holder with the label of just their opinion of the coin they own. If this doesn’t say conflict of interest then I don’t know what would.

You should remember four grading services, and stay away from the rest, until you gain more knowledge about grading Peace Dollars. These coin grading services that can be trusted more than the rest are as follow: PCGS, NGC, ICG and ANACS.

If the Peace Dollar isn’t graded and authenticated, by one of these top four services, then you risk losing money immediately after your purchase. You also run the risk of paying to much for an over-graded coin. You work for your money so don’t let anyone steal it, for an inferior graded coin, just because they placed it in a “professional” looking holder with a lofty grade.

INB, SGS, PCG, among many others, are among the worst offenders and should never be trusted because their grading standard is much more liberal than the accepted grading standard. You’re just throwing your money away buying coins housed in any other holder then the top four coin grading services.

Make no mistake, the MS66-MS69 grades, authenticity and condition of a coin isn’t an opinion and you owe it to yourself to be informed before making a coin purchase. High grade Peace Dollars are rare and valuable in a PCGS, NGC, ICG or ANACS holders and can’t be purchased for much less than retail. If you see a great deal on a high-end graded coin, in any other holder, then you should know it’s too much of a risk to purchase.

Altered Surfaces:

The above to Peace Dollars have altered surfaces, the left example has been cleaned and this can be identified by the hair-like lines on the neck. The coin on the right has been cleaned and then artificially toned. Notice that both coins are circulated and were cleaned or retoned so as to make them appear uncirculated.

The coin below is an example of an uncirculated Morgan Dollar, with natural toning, housed in a PCGS holder.

It’s recommended to learn the facts about silver tarnish and toning and only purchase toned coins, in a reputable grading service holder, until you get the feel for what toning isn’t natural and what cleaned coins look like.

The coin below has what is considered an altered surface and this alteration can come in many forms. An altered surface is usually an over-dipped or lightly polished BU or AU coin and can be identified by their “jewelry” like surface. A jewelry surface is often a polished and dipped surface that brings out the luster of the metal, but an original coin’s surface was obtained by a great amount of pressure and heat from the coin die pressing the metal into the design elements of the die. No other process will reproduce this appearance.

A Peace Dollar’s surface shouldn’t look sleek and to clean, but retain a soft or frosty luster obtained during the strike of the die.

I am most certain that many other aspects of buying Peace Dollar could be mentioned, but I chose the most obvious to give you a jump start. If you want to learn more about Peace Dollar grading, mintages and values then visit the links I provided at the end of this article.

Peace Dollar grading, Peace Dollar mintages and values, Peace Dollar facts and key dates

If you want to buy authentic Peace Dollars at ebay then here are links to every date and mint mark.