The Peace Silver Dollar: Grading, History, and More

The Peace Silver Dollar is a treasured piece of United States history, and this series is one of the most popular among numismatists. If you are interested in owning this piece of history, keep reading to learn more about the peace silver dollar series’ history, grading, and value.

The History of the Peace Silver Dollar

At the end of 1921, the United States was experiencing an economic boom after the end of World War I. This economic boom caused a strong demand for silver coins because all the Morgan dollars were melted down for the war effort. The Peace Dollar was designed by Anthony de Francisci and was named to “commemorate the end of the war to end all wars.”

This idea to commemorate peace with a new silver dollar coin was first introduced in 1920, and the Treasury Department liked the idea so much that they announced a design competition for the new coin. As a result, 33-year-old Italian immigrant Francisci defeated experienced coin designers with his design of Lady Liberty. 

Peace Dollar Design

The obverse side features Lady Liberty’s left profile, and she is wearing a tiara that resembles the one that appears on the statue. This side also included the word “Liberty,” the date, Francisci’s initials, and “IN GOD WE TRVST.” The letter “V” in “TRVST” symbolized “V” for victory.

The reverse side features an American Eagle placed on a mountaintop with an olive branch in its talons. This image symbolizes the world’s desire for peace after World War I ended. This side features inscriptions of the words “UNITED STATES OF AMERICA,” “ONE DOLLAR,” “E PLURIBUS UNUM,” and the word “PEACE.” 

The Production of the Peace Dollar

The Peace Dollar was issued from 1921-to 1928 and again from 1934-to 1935. They were struck at the Philadelphia, San Francisco, and Denver Mint facilities. It was the last 90% silver dollar circulated in the United States until the Eisenhower Dollar was issued in the 1970s. It was produced through the roaring twenties and the Great Depression but discontinued in 1935. 

The Peace Dollar mint mark

Courtesy of Wikipedia

The Peace Dollar’s mint mark is located on the reverse side, and it can be found directly below the word “ONE.” These dollars were struck at the Denver, San Francisco, and Philadelphia Mint facilities. The Peace Dollars struck at the Denver and San Francisco Mints will show their respective D and S mint marks, but the Philadelphia-struck dollars will not have a mintmark.

The Value of the Peace Silver Dollar

The value of the peace silver dollar varies significantly throughout the series. The value of a coin from this series depends on its condition, rarity, and the year it was struck.

1921 Peace Dollar Value

Courtesy of Wikipedia

The 1921 Peace Dollars are highly unique in this series and among silver dollars overall. From December 26-31, 1921, over a million Peace Dollars were struck at the Philadelphia mint. This issue of Peace Dollars was struck in extremely high relief, which accentuated the dollar’s incredible artistic details. Unfortunately, striking coins in such high relief made them difficult to mint in large quantities, so the Mint lowered the relief in 1922 to make them easier to strike. The uniqueness of these 1921 dollars, as well as their incredible detail, make them some of the most valuable in this series. A proof condition 1921 Peace Dollar can be worth over $84,000.

1922 Peace Dollar Value

The 1922 Peace Dollars were the first of the series to be struck in low relief. A small number of the 1922 dollars were struck in high relief, but most were melted down at the Mint once they decided to switch the series to a lower relief. Only about 35,000 high relief 1922 dollars were minted before the switch. A proof condition 1922 Peace Dollar can be worth over $84,000.

1923 Peace Dollar Value

The 1923 Peace Dollars were minted at all three mint facilities and were struck in regular relief. Over 30 million Peace Dollars were minted in 1923, making this year the second-highest mintage issue in the Peace Dollar series. In the best condition with an MS65, a 1923 Peace Dollar can be worth $178.

1928 Peace Dollar Value

The 1928 Philadelphia-struck Peace Dollar has the lowest mintage of the series, with only 360,000 dollars minted in 1928. Its extremely low mintage makes this issue very valuable. In the best condition with an MS65 grading, a 1928 Peace Dollar can be worth up to $5,000. It is important, however, to watch out for altered 1928-S coins with the S mintmark removed.

1934-D Doubled Die Peace Dollar Value

The 1934 Peace Dollar was the first year that the Peace Dollar was produced since 1928. In 1934, the Denver Mint facility made an error run of Peace Dollars. These coins were doubled die obverse coins; you can see the doubling on the “D” in GOD and the “W” in WE. You can also find the doubling of the sun rays on the right side of the coin. It is unknown how many double die 1934-D dollars there are in existence, but these coins are highly sought-after among Peace Silver Dollar collectors. In the best condition with an MS60 grade, these coins can be worth up to $856.

1934-S Peace Dollar (Uncirculated) Value

Although the circulated grades of the 1934-S Peace Dollar are easy to find, the uncirculated grades are difficult to come by. The mint state coins of this issue were saved by collectors in extremely low numbers, making the uncirculated coins a rarity. It’s important to note that only the 1934 San Francisco-minted dollars are rare. Because of this, it’s necessary to beware of altered 1934 Philadelphia-minted dollars. These uncirculated coins can be worth up to $4,500.

2021 Peace Dollar

Courtesy of Wikipedia

To commemorate the 100th anniversary of the 1921 Peace Silver Dollar, the US Mint issued 2021 Peace Dollars to be struck. These dollars were struck using .999 fine silver instead of the .900 fine silver used originally. A 2021 Peace Dollar is worth about $157. 

Let’s Talk About Peace Dollars

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**Prices stated in this article are subjective and not intended to project actual value. All coin prices are dependent on several factors including and notwithstanding, condition, demand and availability, just to mention a few.