Found a Peace dollar

[tmjones550]

Found a 1922 peace Dollar at a local bank.I'm new at crh.Is it worth the silver content?Thanks!!

 

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[Goldmanford]

Worth a little over 30 bucks in silver value - nice find!

 

[Saabman]

WOW!!! Nice find!!!!!

 

[K]

Worth a little over 30 bucks in silver value - nice find!

Why is it worth $30 at 90% silver and a 1964 Kennedy at 90% silver is only $14?

 

[swuycheck]

Its a dollar coin(bigger, more silver) Kennedy is a half

 

[Goldmanford]

Worth a little over 30 bucks in silver value - nice find!

Why is it worth $30 at 90% silver and a 1964 Kennedy at 90% silver is only $14?

Each 1964 Kennedy half dollar contains 0.3617 troy ounces of silver and is valued at $14.38 when silver is at $39.75 / ounce.
Each Peace dollar contains 0.7735 troy ounces of silver and is valued at $30.74 when silver is at $39.75 / ounce.

K - The information above comes from coinflation.com. The Peace has a little more than double the silver content of the half so that results in the price being more for the dollar coin than for 2 half dollar coins.

 

[n9zez]

Nice! How did you come across it?

 

[K]

Sorry, didn't know that, I'm just a

 

[Goldmanford]

Sorry, didn't know that, I'm just a

That's alright K - I didn't know either until just a little bit ago. I never really gave it much thought until you asked. I just know that coinflation.com is a pretty cool website to explore when you have spare time.

 

[byrne3]

Worth a little over 30 bucks in silver value - nice find!

Why is it worth $30 at 90% silver and a 1964 Kennedy at 90% silver is only $14?

Yes, dimes, quarters and halves are all proportionate, but not the dollars...

5 dimes = 2 quarters = 1 half

The half weighs 12.5 grams, and the dollar weighs 26.73 grams. To make the dollar proportionate to the other denominations the face value would have to be adjusted to $1.0692

anytime someone is offering you just twice as much for a peace or morgan dollar as a 90% half they are ripping you off by almost a dime!!

 

[SFBayArea]

Worth a little over 30 bucks in silver value - nice find!

Why is it worth $30 at 90% silver and a 1964 Kennedy at 90% silver is only $14?

Yes, dimes, quarters and halves are all proportionate, but not the dollars...

5 dimes = 2 quarters = 1 half

The half weighs 12.5 grams, and the dollar weighs 26.73 grams. To make the dollar proportionate to the other denominations the face value would have to be adjusted to $1.0692

anytime someone is offering you just twice as much for a peace or morgan dollar as a 90% half they are ripping you off by almost a dime!!

Anyone know why the dollar coin was not proportionate to the half?

 

[OmegaMan]

Very nice find. Congrats If you are in L.A. put a strong magnet on it to see if it's counterfeit.
A lot of fakes going around.

 

[CHAINCHOMP]

Worth a little over 30 bucks in silver value - nice find!

Why is it worth $30 at 90% silver and a 1964 Kennedy at 90% silver is only $14?

Yes, dimes, quarters and halves are all proportionate, but not the dollars...

5 dimes = 2 quarters = 1 half

The half weighs 12.5 grams, and the dollar weighs 26.73 grams. To make the dollar proportionate to the other denominations the face value would have to be adjusted to $1.0692

anytime someone is offering you just twice as much for a peace or morgan dollar as a 90% half they are ripping you off by almost a dime!!

Anyone know why the dollar coin was not proportionate to the half?

because dollar coins were made to be exchanged for silver certs, and at that time a dollar (silver cert) could buy that much silver (.77 oz), so they made them in portions of what a dollar could buy at that time. hope this helps!

and btw, epic find!!! huge congrats! Keep it up and hh! [R.I.P. Rich Hartford]

 

[sitman]

Unlike the subsidiary silver coins, the silver content of the silver dollar was never adjusted from its specifications of 1840. It was always intended that each denomination of U.S. silver coin should contain a proportional amount of silver such that four quarter dollars would contain the same amount of silver as two half dollars or one silver dollar. It was also intended that each silver coin should be worth the amount of silver that it contained. This proved to be unworkable. Minting of the silver dollar was suspended after 1804 because there was enough of a difference in the worth of silver content versus face value that it became worthwhile to melt them down. It was not worthwhile to melt down the smaller denomination coins, and the half dollar became the primary store of value for banks. The mismatch between silver content worth and face value eventually became enough to dictate a small reduction in weight in 1837/1838. This coincided roughly with the introduction of the seated liberty design, so that was sufficient to alert the public that the change had occurred (faith by the public in the precious metal content of our coins was a much bigger concern back then). Production of the silver dollar resumed in 1840 with the silver content dictated by the weight reduction of 1837/1838, but the quantities were limited when compared to half dollars. In 1853, the weights of the subsidiary silver coins had to be adjusted down again, this time more substantially. This was denoted by the arrows at the dates of the coins. The silver dollar weight was left untouched because of a desire to keep the value of the dollar pegged at the silver value in a silver dollar. This also had the effect of keeping the subsidiary silver coins from being melted down with a minimal amount of silver dollar melting when the silver prices fluctuated a little high. The post Civil War output of the western silver mines drove the price of silver down such that in 1873, the weights of the subsidiary silver coins were adjusted up slightly, again being denoted by arrows at the dates of the coins. Just like in 1853, this weight change did not affect the silver dollar, particularly since production of the silver dollar was again suspended after 1873 in favor of the slightly heavier Trade Dollar which needed to be heavier to compete with European dollar sized coins in the Orient. The Morgan Dollar was minted beginning in 1878 to satisfy both the pressures of the western states and trade with the Orient. These facts, along with relatively inexpensive silver prices, kept the silver dollar weight at the 1840 weight through 1935 when the last silver dollars were minted.

 

[tmjones550]

I went to my brothers bank and asked him if he could ask the tellers for some half dollars,which he kindly did.There were no half dollars but one teller had $40.00 in clad Ikes with one very dirty Peace dollar.I was excited.I asked my brother if I could buy the one peace dollar and he said one dollar would take care of it.How exciting to pay face value and have all that silver content!!

 

[usandthem]

Welcome to the club. Somebody show him the secret handshake.