Mint State generic Peace dollars while unchanged from our report of two weeks ago actually had perked up and then settled back to previous level. Morgans have not done as well as MS-64, -65 and -67 coins declined 3-5 percent.
Circulated common issues of both series follow a silver market that is not very shiny currently.
The only better date Peace dollar showing any real action, the 1935-S, has taken a 10 percent haircut in MS-65. Better date Morgan dollars are doing much better with only a few negative moves and at least a dozen or more issues up. There has been action in the Carson City trio of the 1890s with all three gaining in choice to gem uncirculated. The rarer 1889-CC has followed with EF-40 and AU-50 coins moving up. This particular date was hoarded 5-15 years ago and has experienced downward pressure over the past few years. It also is a date that is often doctored or cleaned to enhance its
appearance because of the huge pricing spread between higher grades. Many of the coins from that hoard were not of the best quality since the buyer valued quantity over quality. It can be OK to buy a cleaned example. If a cleaned coin has extremely fine detail, price should be in line with very fine, or AU detail at EF pricing. Along with the above CC issues the 1879-S reverse of 1878 gained in Mint State. The 1879-CC rose in upper circulated grades. Up in Mint State are the 1888 New Orleans and San Francisco duo along with 1892-O and 1894-S.
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