1927 Peace Dollar, PCGS MS-62, Original BU Coin

1927 Peace Dollar, PCGS MS-62, Original BU Coin

129.00

An original BU coin, showing the typical light scuffs and marks appropriate to the grade. Well struck with nice even, moderate red-grey toning. After the Mint was able to slow down production in 1926, the quality of coins increased markedly, even as Mintages declined. It is not commonly understood by many about the TRUE reason for the massive numbers of Peace Dollars struck 1922-1925 to replace the Morgan Dollars melted under the Pittman Act of 1918. The Pittman Act melting of 270+ Million Silver Dollars required the destruction of a like Face Value amount of Silver Certificates which those Dollars had backed, and which were replaced by the same amount of U. S. Notes (“Red Seals”). The Treasury had to pay interest on those Notes as they were a form of Government “bond” effectively, in the post-First World War inflationary period at higher interest rates. This did not sit well with the “bean counters” in DC, hence the rapid return to producing Dollars. Getting those coins back in the vaults took four+ years and untold Dollars spent on purchasing domestic Silver output at above Market rates, plus expenses - all to provide a subsidy to private interests. A perfect definition of Government … but I digress! This date is considered the third rarest in Uncirculated grades, behind the 1928 and 1934-S, although I find the 1928 more available when you want or need one than the 1927.

PCGS 7370.62/37814732

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