Peace Silver Dollar VG - EF
VG is the contraction for the denotation "Very Good". "EF" is the contraction for the denotation "Extremely Fine". Both of these are grades within the Sheldon coin grading scale. This scale was created in 1949 by Dr. William Herbert Sheldon. The scale runs from 1 on the low end to 70 on the high end. VG coins begin at 8 and Extremely Fine coins range up to and including the grade 45. In-between VG and VF is the "F" grade, which in the numismatic world means "Fine"
Specifics of the Grade
Peace Dollars in the grades between 8 and 45 will vary greatly in appearance. The coins on the low end will have details that are very worn and the coin may be heavily tarnished. On the other hand, Peace Dollars in the 40-45 range will have full details with only the highest points of the coin design showing wear. "Common Date" Peace Dollars that range between VG and EF are most often held for their silver value, not their rarity or quality.
Why Hold Old Silver Peace Dollars?
One distinct advantage to holding old Peace Dollars over new bullion silver coins is their easily recognized authenticity. Counterfeiting a Peace Dollar that is not of a rare year and / or mint is not only laborious but of no financial gain. "Aging" a counterfeit coin to appear nearly a century old is also a losing proposition for a counterfeiter. When it comes to barter-ability, or exchanging these silver coins for goods or services, and old Peace Dollar is visually verifiable, whereas a new bullion silver coin will require chemical verification of it's metallic makeup to authenticate as real.