Troy Oz Peace Round. Is this a fake, or is it worth anything?

Question

Troy Oz Peace Round: One side has Liberty head with "In God We Trust", no date. Other side has eagle with 'United States of America' and '.999 Fine Silver'. Also has 'One Troy Oz.', with 'Peace' on the rock under eagle.

Answer 1

Silver bullion prices can be found here:

http://www.kitco.com/market/

1 - Take your coin to a local coin dealer (trustworthy ones can be found - shop around). It never hurts to get a second opinion. They will be able to tell you so much more by evaluation the condition of the coins. They will also know the amount minted and what it is going for in today's market.

2 - Try posting pictures on this website (there are many experts here that can help you evaluate it - there also may be people willing to buy if you are trying to sell):
http://www.coincommunity.com/forum/default.asp

3 - Repost this question and include pictures. You can use websites like http://www.photobucket.com and include the link in your question.

Good luck!

P.S. You should not clean your coins. Most coin collectors see cleaning a coin as the equivalent of stripping down antique furniture and refinishing it.

When cleaning, the surface metal of the coin is often stripped. Anything used to scrub the coin will leave scratches (even 100% pure silk will leave hairline scratches). Most cleaning products will have some type of reaction with the coin's metal and the surface metal can also be removed in this manner.

Your best bet is to leave the coins alone. Cleaning the coin will leave traces - which can be found by the knowledgeable collector - who in turn will not buy the cleaned coin. Also if you ever wanted to send your coin into a grading company, they can recognize signs of cleaning and will send your coin back in a "cleaned" slab (also called a "body bag" in the coin world) - which is usually a greatly decreased value.

If you absolutely must must must clean your coins do not use the method described above as it will react with the metal in your coin. Use 100% acetone (do not use fingernail polish remover!). It must be 100% pure because other additives will react with the coin metal. Place your coin(s) in the solution for several minutes (do not leave in for long periods of time). Rinse your coin(s) in distilled water. Next remove your coins and either pat dry with a soft cloth or allow the coin to air dry (air drying is better as you don't risk scratching the coin with the cloth). NEVER scrub your coins!

I would still advise you to leave your coins as they are. They may not be bright and shiny but that is what most collectors prefer.

Answer 2

It is not a coin but what is called a silver round. They come with all kinds of different motifs. In your case they copied the Peace dollar. They got away with it for the word dollar is not on it. The U.S. mint in the future is going to crack down on use of their designs as well as this type item which is close to the real thing. It is one troy ounce of .999 silver. It also may be a little larger than an actual Peace dollar. People buy them for the silver and a design they like. As far as I know no one has done a reference book on them for there must be hundreds or maybe thousands since they started in the early1960's maybe before. There must be some rare once out there but with no reference book no one knows so they sell for a percentage under the price of spot silver.