The peace dollar, first minted in 1921, was the first circulating dollar to feature the portrait of a real person (besides George Washington.) For this reason, it is highly sought after by collectors.
You may want to invest in silver peace dollars if you are interested in purchasing collectible coins. Before you decide to invest in silver peace dollars, here are some points you should consider!
History of the Peace DollarsÂ
The first silver peace dollars were struck in 1921 after Congress approved the design Adolph Weinman had submitted to the Mint two years earlier. The new dollars were made of .900 fine silver, just like U.S. coins had been before the passage of the Coinage Act of 1873 authorized a switch to a cheaper alloy that included only .800 fine silver mixed with copper. The new pieces were struck in Philadelphia, Denver, and San Francisco.
The obverse or front of the silver peace dollar depicts Lady Liberty appearing on previous U.S. coins: wearing a headband inscribed LIBERTY and carrying a torch in her right hand.
Value of the Coins
The value of an item is not necessarily linked to its collectibility. A rare coin can be pretty valuable because it is scarce, but not every collector will be interested in owning it because it is not attractive. While many investors like to collect coins, others focus exclusively on their financial value.
Silver has always been more affordable than gold, making them a good choice for collectors on a budget. Consider buying silver peace dollars if you want to start collecting precious metal coins but don’t want to break your budget.
Choose a Reputable Dealer
When searching for a reputable coin dealer, look for one that has been in business for several years and is either a member of the American Numismatic Association or the Professional Numismatists Guild. These organizations have established codes of ethics which their members agree to follow when buying and selling coins, jewelry, and precious metals.
Members of these organizations must provide accurate descriptions of the items they sell and allow their customers to have their purchases certified by a professional numismatist before they leave the store. Remember that not all coin dealers belong to one of these organizations, but those who have committed themselves to maintaining high customer service and ethics standards.
Visual Inspection
Do your homework before purchasing a silver peace dollar from an online dealer. Check out their website and ensure that they have pictures of their products on display and a customer feedback page where people can leave comments about the product and customer service experience. If you can’t find these pages, suspicious activity is likely behind the scenes.
How to Store Your Silver Peace Dollars
The most common way to store your silver is in a plastic coin holder and create a binder of all those precious coins. You can also purchase unique capsules for your coins.
Conclusion
Well, there you have it, folks. Now you’re all ready to begin collecting or adding to your already budding coin collection. Full of history and financial value, these coins are great for new collectors.