Gem Brilliant Uncirculated
What price guide grade would GBU be for a 1926s Peace Dollar?
I recently acquired a 1926s Peace dollar in GBU condition (gem brilliant uncirculated). However, the price guide I use doesn’t list that grade. It lists about uncircutaled 50 (AU50), mint state 60, (MS60), mint state 63 (ms63), mint state 64 (ms64)and mint state 65 (ms65). There is a price range of $18.50 for this coin in au50, $44 in ms60, $110 in ms63, $250 in ms 64 and $1225 in ms65, and I’m trying to figure out which one I have. I’m willing to bet I don’t have the ms65.
It’s now been over three decades since LaVere Redfield passed away in 1974 and the process of settling what turned out to be his memorable estate began. Eventually Redfield’s holdings would be sold to A-Mark for $7.3 million. It was a lot of money at the time. It was closer to a fortune, but for a reported 407,000 Morgan and Peace dollars of which 351,259 were considered Mint State, it was well worth the money.
You do not simply dump 407,000 silver dollars into the market without making waves and the Redfield coins made waves at the time.
Of course collectors of the 1970s were well versed in the details of the 1962-1964 heavy release of millions of silver dollars from the Treasury. While the process of settling the Redfield estate and selling the coins was going on, the General Services Administration was also busily selling the leftover Carson City dollars that had been left in Treasury vaults after the Treasury had stopped redeeming Silver Certificates with silver dollars, meaning when it came to silver dollars this was probably a unique time in U.S. history both in terms of activity and in terms of information.
In some respects, the two decades starting about 1962 as the Treasury releases picked up momentum were probably too much for the market to absorb at the time. Eventually, all the coins involved were sold and today there are some willing to pay extra premiums for Carson City dollars from the GSA sales or dollars from the Redfield Hoard in their original holders as the importance of such sales has actually come to be appreciated more with the passage of time.
We have also come to appreciate more what a difference the dollars in the various hoards have made in terms of Morgan and Peace dollar availability today. There is simply no doubt that if there had not been bags sitting in Treasury vaults and the basement of the LaVere Redfield home you might well be faced with much higher prices and much less chance to acquire the dollars you want for your collection.
The GSA sales of Carson City dollars are well documented but things are not as clear with the Redfield Hoard. We have the total numbers and the reported sale price, but as Q. David Bowers suggests in his analysis in his book American Coin Treasures and Hoards, the actual breakdown of the 407,000 dollars is not known. He points out, “Contents of the Redfield silver dollar hoard were never made public.” Over time, however, reports especially from John Highfill’s Comprehensive U.S. Silver Dollar Encyclopedia, have emerged enabling us to at least get a better idea of the impact of the hoard on the market at the time and today.
How to Open a Silver Eagle Monster Box
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