Key date coins basically define collecting U.S. coins from the twentieth century. These key date coins are generally harder to find than other dates in the coin series. They also tend to be more valuable and more sought after by collectors and investors alike. Some may cost a few hundred dollars for graded samples, and some may run easily into the tens of thousands of dollars.

Collectors Dashboard is evaluating the key date coin that is the 1934 S Peace Dollar. Whether it is a hot coin or not may depend upon the buyer, but it does come with some scarcity and a high grade sample will easily cost more than most new cars.

The 1934 S Peace Dollar is so valuable in high grades is because it was released widely into circulation versus being stored in bank vaults. The height of the Great Depression also influenced whether or not collectors of that era could afford to collect or even if they had interest in saving uncirculated rolls of the coin in 1934.

What’s unique is that the collectability is almost entirely in the higher grades of the example. Many examples reflect premium prices when other coins in the series with much lower mintages plateau. The 1934 S is the only Peace Dollar from the 2004 Red Book price guide listing which was valued in the thousands in uncirculated condition at that time. In 2004 MS60 examples went for $1,500.00 and sharply increased to $2,600.00 in MS63.

Zooming forward to the modern years with more and more auctions, suddenly auction prices in the PCGS graded examples have values that reflect the confidence collectors have in the premier grading institution. A coin so dependent on looks and perfection, in March 2021 a PCGS graded MS66 example was sold by Stack’s Bowers for $24,000.00. February 2021 saw the firm Legend Rare Coin Auctions realize $70,500.00 for a MS66+ PCGS coin.

The population of coins graded for MS66+ is predictably small at only 7 examples. MS65 however has 212 PCGS graded examples with 35 in MS65+. The 1934 S in MS64 has 625 samples with 57 more samples in MS64+. Heritage Auctions sold three in MS63 condition in January 2021 and all three sold for $4,200.00. The PCGS price guide listed the MS63 value at $5,000.00.

Availability (scarcity) is a key attraction to investing in coins. The Auction record for this coin was $79,312.50 for a PCGS MS66+ example sold on 12/12/2019 by Legend Rare Coin Auctions. Another of the same 7 graded in PCGS MS66+ can be bought direct from PCGS Collectors Corner by the firm Barry Stuppler & Company for $94,000.00. The price of the highest grade of the examples is negotiable. The option to ‘Add to Cart’ the $94,000.00 coin is available, but thankfully so is the ‘Ask Seller Question –or- Make an Offer’ option.

Clicking the button and confirming the $94,000.00 purchase of a PCGS MS66+ 1934 S would make numismatic history and create a new known highest price paid. Someone will want to own this 1934 S PCGS MS66+ example currently valued at $100,000.00. The price they are willing to pay may still be debated.

Here are five 1934 S Peace Dollar coins professionally graded examples found on eBay on Wednesday May 26, 2021 that have Buy It Now prices and “or Best Offer” listings so that buyers can haggle with the sellers:

• 1934-S Peace Dollar “PCGS AU Cleaned” for $629.95
• ANACS graded AU50 1934-S Peace Dollar for $525.00
• PCGS 1934-S Peace Dollar MS65+ CAC for $13,845.00
• PCGS 1934-S graded MS64 for $8,700.00
• 1934 S graded by PCGS in MS64 for $7,218.75

Ungraded examples of the 1934 S Peace Dollar have the same things in common among many eBay listings. The numbers are very numerous, and it is entirely up to the buyer to discern whether or not a coin is really in the condition listed in the description.

Many of the ungraded coins are listed with less than professional photography skills and the actual condition is anyone’s guess. That “conditional condition” can be to the buyers benefit one day and can go against buyers another day. A 1934 S Peace Dollar “Mint State +++++++” written out in a title or a description may be a red flag and wishful thinking for $1,699.00 offering as a Buy It Now with free shipping, and prices in the ungraded cards are literally all over the place.