1934 $1 MS67 PCGS....

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1934 Dollar, MS67
Uncollectible in a Finer Grade

1934 $1 MS67 PCGS. In a way, 1934 and 1935 Peace dollars exist as afterthoughts to the rest of the series -- struck on the heels of the Great Depression, after a six-year lull in Peace dollar production. Silver was cheap, although its value was bolstered by the Silver Purchase Act of June 19, 1934. Still, the 1934 Philadelphia issue had a low mintage of less than 1 million pieces, yet it is overshadowed by the 1934-S in perceived scarcity (even though the '34-S had a slightly larger mintage). The late-series issues were struck from a low-relief obverse master die, and they are challenging to find sharply struck and in high grade. Few examples achieve the Superb Gem level. Well under two dozen 1934 P-mint Peace dollars have reached the MS67 grade, a familiar situation that exists throughout the entire Peace dollar series, with only a handful of exceptions.

This is an especially smooth and lustrous 1934 dollar, well-struck on all of its raised elements, with glimmering silver surfaces. Just a hint of golden-gray toning confirms the original surface quality. While most 1934 Mint State examples display moderate bagmarks, this Superb Gem is essentially mark-free. No more than three or four infinitesimal ticks exist on both sides combined. Nor are there any interruptions to the vibrant mint luster, which bursts forth from beneath a thin veil of natural patina into lively bands of brilliant silver luminescence.

The 1934 Peace dollar is one of just four issues in the series with a mintage below 1 million coins (954,057 pieces, to be precise). The date is generally plentiful through MS65 and is only marginally elusive in MS66. However, Superb Gems are incredible rarities. PCGS and NGC combined report 18 such pieces in MS67, with not so much as a single Plus-graded coin any finer. No doubt, there is likely duplication even in these small figures. To our knowledge, this is one of only three MS67 PCGS coins to appear at public auction in at least the past dozen years. PCGS reports just a dozen coins of equal grade, and none finer (8/21).
From The James E. Blake Collection. (Registry values: N4719)

Coin Index Numbers: (NGC ID# 257X, PCGS# 7375, Greysheet# 7897)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

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