Top 50 Peace Dollars Posting Big Price Gains

NSDR Journal

VOL. XXIV, NO. 3

Fall 2006

Top 50 Peace Dollars Posting Big Price Gains

By Phil Perdue

Collectors are beginning to see that the real rarities of the Top 50 Peace dollar set are very desirable and have amazing profit potential.  Many of the significant rarities in the set have recently posted dramatic sales prices:

• A 1922-D VAM 4 “Doubled Obverses” in MS63 recently sold for $3,500.  Just two years ago it was in the $100 range.
• A 1923-P VAM 1C “Tail O” in MS64 recently sold for $3,850, and a 1923-P VAM 1E “Broken Wing” in MS61 sold for $2,136.  Two years ago they were in the $1,400 and $200 ranges.

This is a continuing trend that we have observed for the last few years.  What is causing this dramatic increase in prices?  There are at least two reasons:

First, I believe we are beginning to get a better focus on the true rarities as a result of the available pop reports from both ANACS and NGC.

For example, current pop reports show a total of just four certified 1922-D VAM 4s.  ANACS had certified none in 2002 when the Top 50 book was published.  The 1923-P VAM 1E currently shows six certified coins.  There were four in 2002.

The increase of only two coins helps us to see that the 1923-P VAM 1E is significantly more rare than the 1923-P VAM 1 ‘O’ that added 16 certified coins during the same period.  The numbers will change when PCGS starts issuing pop reports with VAM designated coins, but I believe the trends will remain.

The second component causing the tremendous increase in prices is the ever-increasing collector base.  More Top 50 sets are being assembled, and competition for these rarities is driving prices ever higher.

So what are the true rarities of the Top 50 set?  It may be difficult to achieve a consensus among all Peace dollar variety specialists, but the list below is what I see.  Please keep in mind that this list is in date and VAM sequence only.  Where a variety is resulting from a die break, only late die state coins are included.  Early die state coins sell for considerably less.

This is a very exciting time to be involved in Peace dollar VAM collecting.  Not only is the Peace dollar a beautiful design, but when it is a rare die variety, it can also turn out to be a worthwhile investment.

“The Tough Ones” in the Top 50 Peace Dollar Set: