Peace Dollar Puzzlement: My Deep Dive into a Coin I Was Unsure About

I recently got my hands on a 1922 Peace dollar that looked stunningly Proof-Like at first glance, but something about it nagged at me. Was it truly a gem, or was there more beneath the surface? As a collector who’s seen my fair share of coins, I decided to dig deeper, and what I uncovered taught me some valuable lessons about spotting issues and appreciating every piece.

My Initial Encounter with the Coin

When I first examined this Peace dollar, I was struck by its shiny fields that screamed PL quality—no obvious polishing in sight. I even thought I spotted what could be an obverse lamination, adding to the mystery. But as I spent more time with it under good lighting, I realized I needed to be brave and face the good, bad, and ugly truths. After all, in numismatics, honesty is key to learning and growing.

Unmasking the Signs of Cleaning and Alteration

As I scrutinized the coin, several red flags emerged. It wasn’t PL—instead, it had been harshly cleaned and polished, likely to enhance that deceptive shine. Here’s what tipped me off:

• Scratch Marks: On the obverse, fine lines ran across the surface, especially visible under magnification—classic evidence of overzealous brushing.
• Dark Residues: Dark black toning lingered in the protected areas like behind Liberty’s head, suggesting someone repeatedly dipped and brushed the coin but couldn’t reach everywhere.
• Die Clash vs. Lamination: What I initially thought might be a lamination turned out to be a possible die clash around the RT in LIBERTY—something hard to confirm without handling, but a reminder that photos can be misleading.

This reminded me of my own mishap with a 16-S Buffalo nickel I submitted for grading. It looked pristine and full-detail, but it came back AU details-whizzed! Like this Peace dollar, subtle scratches were nearly invisible in seller photos but clear in high-quality images I took myself. It’s a harsh lesson that coins with worn designs can hide cleaning well, making them tricky to assess.

Practical Tips for Detecting Coin Problems

Based on this experience, I’ve refined my approach to evaluating coins like this. Here’s my go-to advice for fellow collectors:

• Inspect Under Bright Light: Use angled lighting to reveal scratches or polishing marks—look for uniform streaks that don’t align with mint luster.
• Check Hard-to-Reach Areas: Focus on devices and crevices; if there’s dark residue left behind, it often means cleaning attempts.
• Examine the Rim: A sharp rim photo can expose issues—I use a reflector trick from an old flashlight for clearer shots, and it works wonders for lettered edges.
• Grade Realistically: If a coin looks too shiny for its age, it’s likely cleaned. Remember, grading services like NGC or PCGS will flag it as “harshly cleaned” or “whizzed,” tanking its value.

Market-wise, cleaned Peace dollars like this one often sell for a fraction of their original worth—maybe $20-30 instead of hundreds for an uncirculated piece. But that doesn’t mean they’re worthless; it just shifts focus to eye appeal and history.

Why Every Coin Deserves a Spot in Your Collection

Even with its flaws, I’ve decided to keep this Peace dollar as a pocket piece—a constant reminder that not all coins need to be mint-state gems. In my view, all Morgans and Peace Dollars have intrinsic value, whether for their silver content, historical significance, or as teaching tools. Collecting isn’t just about perfection; it’s about the stories and lessons each coin brings. Plus, handling coins like this helps build your grading skills over time.

Final Thoughts on the Collector’s Journey

This whole episode reinforced that uncertainty in numismatics is part of the fun—it pushes us to learn and share. If you’re ever unsure about a coin, embrace it as an opportunity. Take your own high-quality photos, consult trusted resources, and remember: every coin, even a cleaned one, adds depth to your collection. Happy hunting, and may your next find be a true stunner!