Smart Buying Guide: How to Buy Across-the-Street Graded Peace Dollars Without Getting Ripped Off

Understanding the Market for Across-the-Street Graded Peace Dollars

If you’re looking to add this to your collection, you need a strategy to get the best deal. The Peace Dollar series, minted from 1921 to 1935, represents a significant period in American numismatic history, commemorating the end of World War I. Among these, the 1922 Philadelphia issue holds particular interest for collectors due to its historical significance and relative availability.

Where to Buy: Navigating the Online Marketplace

eBay remains one of the most popular platforms for acquiring Peace Dollars, including those graded by services other than NGC or PCGS. When searching for an “across-the-street” graded coin (industry slang for coins certified by grading services other than the “big two”), you’ll encounter various listings with different price points and photographic quality.

Look for sellers who specialize in Peace Dollars or silver dollars in general. These dealers typically have more expertise and are less likely to misrepresent their coins. Check their feedback scores, particularly comments related to coin purchases. A seller with a 99%+ positive feedback rating who has completed hundreds of coin transactions is generally more reliable than a casual seller.

Beyond eBay, consider these alternative sources:

• Specialized numismatic forums and marketplaces
• Online coin shops with established reputations
• Major coin shows where you can examine coins in person
• Direct purchases from established grading company authorized dealers

Red Flags: Warning Signs When Buying Online

The forum discussion highlights several important red flags to watch for when purchasing an across-the-street graded Peace Dollar:

Poor Photography Quality: As one forum member noted, “Awful looking coin, even worse photo.” Suboptimal photography can mask significant issues with a coin’s condition. Look for sellers who provide multiple high-resolution images from different angles, including close-ups of both the obverse and reverse.

Inconsistent Toning Presentation: The discussion mentions a coin that appears to have “that ‘covered in thick muck’ look.” Be wary of coins where the toning appears artificially enhanced or where the photography seems deliberately poor to obscure toning issues.

Vague Grading Information: When a seller mentions a coin is “certified just not at our host,” ensure they provide the certification number and allow you to verify the grade independently through the grading company’s verification system.

Missing Reverse Images: As one collector asked, “Did it have a reverse photo or did you just buy it from the obverse photo?” Always insist on seeing both sides of any coin you’re considering purchasing.

Negotiating Tips: Getting the Best Deal

Based on the forum discussion, the coin in question was priced at approximately $380 for an NGC MS64 1922 Peace Dollar with toning. This price point suggests the seller recognizes the toning but doesn’t consider it exceptional enough to command a significant premium.

Here are some negotiating strategies:

Research Comparable Sales: Before making an offer, research completed sales of similar coins. Look for:

• Same date and mint mark
• Similar grade
• Comparable toning characteristics
• Sale prices from the past 90 days

Point Out Photographic Limitations: If the photos are poor quality, you can use this as a negotiating point. Politely mention that you’re taking a risk based on the photography quality and would like a price adjustment to reflect this uncertainty.

Ask About Return Policies: A seller confident in their coin’s quality will typically offer a return period. If the seller doesn’t mention a return policy, ask about it. A generous return window (14-30 days) indicates seller confidence.

Bundle Purchases: If you’re interested in multiple coins from the same seller, ask about a bundle discount. Many sellers are willing to reduce prices slightly for multiple-item purchases.

Raw vs. Slabbed: Making the Right Choice

The forum discussion centers on a slabbed coin, but it’s worth addressing the raw versus slabbed debate for Peace Dollars.

Advantages of Slabbed Coins:

• Third-party authentication reduces the risk of counterfeits
• Professional grading provides a standardized condition assessment
• Easier to insure and resell
• Better protection during shipping and storage

Advantages of Raw Coins:

• Typically less expensive per coin
• Allows you to personally assess the coin’s eye appeal
• Avoids potential overgrading by some services
• Greater flexibility in how you store or display the coin

For beginners, slabbed coins generally offer more security, especially when buying online. However, experienced collectors often prefer raw coins, particularly for common dates where they can recognize quality independently.

Understanding Toning on Peace Dollars

The forum discussion highlights an important aspect of Peace Dollar collecting: toning. One member noted, “Some collectors like heavy toning, and it is not that common on a graded Peace dollar.”

Toning on silver coins occurs naturally over time due to exposure to sulfur compounds, moisture, and other environmental factors. On Peace Dollars, desirable toning typically appears as:

• Rainbow crescent toning on the obverse
• Symmetrical patterns that enhance the coin’s design
• Subtle peripheral toning that frames the central devices

However, as the discussion suggests, not all toning is desirable. Heavy, uneven, or artificially induced toning can detract from a coin’s value. The key is finding toning that enhances rather than obscures the coin’s details.

Authentication and Verification

Before finalizing any purchase of an across-the-street graded coin, take these verification steps:

1. Verify the certification number through the grading company’s online verification system
2. Compare the coin in the photos to the certification images if available
3. Research the specific grading company’s reputation and standards
4. Check for any population reports that might indicate rarity in the stated grade

Final Considerations for Your Purchase

The forum consensus suggests that the coin in question “has potential” and that the new owner “will be pleased.” This aligns with the general principle that Peace Dollars, even with less-than-ideal photography, often look better in hand than in photos.

When making your final decision, consider:

• Your personal collecting goals (type set, date set, high-grade set, etc.)
• Your budget constraints
• Your experience level with grading and toning assessment
• The coin’s potential for appreciation based on mintage and survival rates

The 1922 Peace Dollar, being a high-mintage issue, offers an accessible entry point into the series. While not rare, well-preserved examples with attractive toning can still command premiums above bullion value.

Conclusion

Buying an across-the-street graded Peace Dollar requires careful research, attention to detail, and sometimes a bit of calculated risk. By understanding where to buy, recognizing red flags, mastering negotiation techniques, and knowing the differences between raw and slabbed coins, you can make informed decisions that enhance your collection.

Remember that even experienced collectors sometimes take chances on coins with less-than-perfect photography. As one forum member wisely noted, “I would wait to see what it looks like in hand, who knows?” This patient, measured approach to collecting often yields the most satisfying results in the long run.

Whether you’re adding a single key date or building a complete set, the Peace Dollar series offers rich historical significance and aesthetic appeal that continues to attract collectors nearly a century after its introduction.

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