It is very important to determine the numismatic value
of any coin, as opposed to its intrinsic value. This is so that you will
be guided in buying and selling coins, so that you avoid getting a coin that has
a value much less than what you are paying for (buyer), and also getting a lower
amount of money in exchange for a very valuable coin, if you are a seller.
Identifying the worth of your Peace Silver Dollar BU is
no different. Especially because it is a BU coin, then it most definitely
has a high numismatic value. But before going into detail with that, it is
best if you brush up on a few basic knowledge on Peace Silver dollar coins and
the term BU.
What does the term BU mean?
If you are a coin collector, then surely you have come
across the term BU. But for others who are new to the trade, they might
have questions on what the term means. Actually, the term BU stands for
Brilliant and Uncirculated. This means that the coin has never been
circulated, and is still brilliant, in the sense that it retains the total
original mint luster.
However, the term is less frequently used these
days. This is because the Sheldon scale of numerical trading is more
popular. In lieu of the term BU, terms like MS, meaning Mint State, are
used. Generally, BU coins fall into grades MS-60 up to MS-62 (the lowest
grades). But there are also those Choice BU coins that fall under the
rating of higher MS grades, around MS-63 to MS-64. Gem BU coins fall under
an MS-65 grading or even higher.
Determining the numismatic value
There are Peace Dollars minted as proof coins, meaning
they are not intended for general circulation, and they are very rare and
extremely valuable at that. If you have a Peace Silver Dollar BU proof,
then expect the coin to have a very high numismatic value. If you have a
circulated Peace Silver dollar, then you have to look at factors like variety
and rarity, which can still give you a high value but lower than BU coins.
Of course, the better the condition, the higher the
value goes, so with a Peace Silver Dollar BU, or any coin for that matter that
is in excellent condition, then it is most likely to possess a high numismatic
value.
What are the specifications of a Peace Silver
Dollar BU?
The denomination of a Peace Silver dollar BU is one U.S.
dollar. It weights 26.73 grams and has a diameter of 38.1 mm, with a
thickness of 2.0 mm. Its edge is reeded. It is composed of 90%
silver and 10% copper. Its obverse and reverse was designed by Anthony de
Francisci on 1921. It was minted on years 1921-1928, 1934-1935, and
1964.
Determining the worth of any coin is indeed very
important. This will guide you in your coin collecting, as it will set the
price of your coin (if you are a seller), and it will also give you an idea of
how much you are supposed to pay for a certain coin (if you are a
buyer).
