The Peace dollar, minted from 1921 to 1935, holds a special place in numismatic history. Its design, symbolizing peace after World War I, continues to captivate collectors. But within this series lies a particularly intriguing subset: coins featuring the "Great Law of Peace" design. Understanding their value requires delving into the nuances of this specific design variation and its impact on the coin's worth. This guide will explore the factors that determine the value of these unique Peace dollars.
What is the "Great Law of Peace" Peace Dollar?
The standard Peace dollar features a design by Anthony de Francisci, depicting a majestic female figure representing Liberty. However, the term "Great Law of Peace" doesn't refer to a specific, officially-minted variation of the Peace dollar. Instead, it refers to a myth surrounding a possible alternative design that never made it to production. This proposed design supposedly incorporated elements representing the Iroquois Confederacy's Great Law of Peace, a significant achievement in indigenous governance and diplomacy. The existence and specifics of this alternative design remain largely unsubstantiated, existing primarily in numismatic folklore.
Are there Peace Dollars with the Great Law of Peace design?
No, there are no officially minted Peace dollars featuring a design explicitly representing the Great Law of Peace. Any claims of such coins are likely misinformation or refer to custom-made pieces. The widely circulated image often associated with this myth depicts a speculative design created by enthusiasts or artists, not an official U.S. Mint product.
How is the value of a standard Peace Dollar determined?
The value of a standard Peace dollar is determined by several key factors:
- Year and Mint Mark: Certain years, particularly those with low mintage numbers (like 1921 and 1935), command higher premiums. The mint mark (S for San Francisco, D for Denver) also influences value.
- Grade (Condition): The coin's condition is paramount. Uncirculated coins in perfect condition are far more valuable than heavily circulated ones. Grading services like PCGS and NGC provide objective assessments.
- Rarity: Low mintage combined with high demand leads to greater rarity and increased value.
- Variety: Slight variations in design or minting processes can create collectible varieties.
What about the value of altered or customized Peace Dollars?
While there are no "Great Law of Peace" Peace dollars officially issued by the U.S. Mint, some collectors may have altered or customized their coins. The value of such coins is highly variable and depends entirely on the nature of the alteration, the skill of the alteration, and the collector's demand for that specific customization. Generally, altered coins are worth significantly less than original, unaltered examples.
How can I determine the value of my Peace Dollar?
To determine the accurate value of your Peace dollar, consider:
- Professional Grading: Submit your coin to a reputable grading service like PCGS or NGC for an objective assessment of its condition.
- Online Resources: Use online resources and price guides like those from major auction houses to research your coin's specific year, mint mark, and condition. Be cautious of overly optimistic valuations on less reputable websites.
- Experienced Numismatist: Consult with a knowledgeable coin dealer or numismatist for an expert opinion.
Conclusion:
While the allure of a "Great Law of Peace" Peace dollar is understandable, it's essential to approach such claims with caution. No such officially-minted coin exists. The value of any Peace dollar rests on its year, mint mark, condition, and rarity. Proper research and professional valuation are crucial for accurately assessing the worth of your coin. Understanding these factors ensures you can confidently appreciate and evaluate your Peace dollar collection.
