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Coin and Paper Money Collecting/1924 Liberty Peace Silver Dollar

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Expert: - 1/5/2011


Question

CW Silver Dollar With
The coin I have has a number 7 stamped on the face of the coin.  I haven't seen this type of mark on a coin before, is it a practice of the mint to sometimes stamp a number on the coin?  What does it mean and how does the stamp affect the coin's value?  I will attach a picture of the coin.  Thank you for your advice.

Answer
Hi Chaffee:

Thanks for the question. From your description, and the photo you provided, it appears like you have an altered coin. It looks like someone used a punch-like tool on your dollar for some reason, and added the "7" after it left the mint. It is not a practice of the mint to do this. As an altered or damaged coin, your piece would have no added numismatic value.

Lower grade silver coins (like your dollar) are usually only worth melt value. See: http://www.coinflation.com/silver_coin_values.html Condition and date along with mintmark are important in establishing the value of a coin. The 1924 Peace Dollar is worth around $23 (melt) in VG condition, with silver at about $29 a troy ounce.

To grade your Dollar, see: http://coinauctionshelp.com/how_to_grade_peace_dollars.html

For coin values see: http://coinauctionshelp.com/Peace_Dollar_Mintages_Price_Guide.html

You may want to check US coins and currency listings under Peace Dollars on eBay from time to time to see if your coin is listed what this type of item may bring.

If you live close to a local shop, they should offer an opinion as to the value at no charge. Always try and get at least two opinions and try and deal with PNG dealers if possible. If you should decide to sell your items to a dealer, remember they will offer about 50% to 60% of the retail value. Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php

Please remember to go to the experts site to rate this answer. Check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.

Ronald Fern

Expertise

I can answer most all questions relating to US coins, tokens, and currency. I'm not strong on world coins or ancients. Primary field of expertise is errors and varieties. Over 55 years experience in coin collecting. Part time dealer since 1976. Employed by McDonnell Douglas/Boeing for over 34 years as an Industrial Engineer/Technical Specialist before retiring in 2002.

Experience

Worked weekends for "Lonesome" John in the late 1960's to mid 1970's processing error coins, packaging, and preparing orders. Worked with John Devine and Fred Weinberg on several California Error A Rama's in the early 1970's. Served as display judge at annual Error-A-Rama coin shows. Opened and operated mail order coin business DBA "CAL ERRORS" in 1976. Contributer to Alan Herbert's "Official Price Guide To Mint Errors" and Fivaz/Stanton "Cherrypickers' Guide". Worked Saturdays at Huntington Beach Coin Exchange 1980-1999. Had table and sold coins at a number of coin and gun shows in So CA, AZ and NV. Sell coins, tokens and currency currently at my space in the Pomona Antique Center. Past "Errorscope" Editor. Presently CONECA Examiner.

Organizations
ANA, CONECA, CWTS, NLG

Publications
Errorscope, Numismatic News, Civil War Token Journal, Error and Variety News

Education/Credentials
AA Degree LBCC pre Engineering, 1964 BS Degree CSULB Ind Technology, 1968

Awards and Honors
1st Place EAR Trophy for Civil War Token Errors, NLG Author of Year Award for best monthly coin column "Error News and Views" in small Numismatic paper, owned and published by Ray Anthony.

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