Moore Sr won two Brownlow medals but also played in four losing grand finals (1977, 1979, 1980 and 1981) and one draw (1977) with the Magpies.
The Australian Football Hall of Fame member had so had enough of coming second on grand final day that he threw his runners-up medal away after the 1981 decider, though a popular myth is that it went into the stands.
"Well, that's actually a bit of a folklore, I just pretended ... and it wasn't into the crowd," Peter said at Collingwood's headquarters on Sunday.
"That was my fourth runners up medal, so I didn't really need another one. Had enough coming second.Â
"Not my finest moment but I don't regret it because I was determined to back it up (and win the next year).
"I did see (former Collingwood coach) Mick Malthouse when we lost one of those flags against Brisbane (in 2002 and 2003). His went in the bin in the players room as a demonstration to his players of not accepting coming second."
During an illustrious playing career, Peter never won a grand final at any level.
The 66-year-old says he would trade either of his Brownlows (1979 and 1984) for one premiership medallion.
Darcy, Collingwood's current captain, won premierships for fun during his junior days, but was injured during the Magpies' run to the 2018 grand final.
Collingwood's last flag came in 2010 when they defeated St Kilda in a grand final replay.
Saturday's match against the Brisbane Lions will be the Magpies' eighth decider since Moore played in the 1981 grand final.
Collingwood have won just two of their past seven grand finals, which have included those two losses to the Lions.
"When I coached one (premiership) at Eltham after I retired, that was the biggest thrill of my career, even at a local level," Peter said.
"There's going to be be a disappointed group of boys, a disappointed group of fans and unfortunately there can only be one winner."
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