The Peace Silver Dollar market can be a fascinating place, but it's not always easy to navigate. The rarity of these coins plays a huge role in their value.
The Peace Silver Dollar was minted from 1921 to 1935, with a total mintage of over 190 million coins. This means that many of these coins are still in circulation today.
A key factor in determining the value of a Peace Silver Dollar is its rarity. The most common dates are the 1922-1935 coins, which are often worth face value or slightly more.
The 1921 Peace Silver Dollar is the rarest of the series, with only 1,006,473 coins minted. This makes it highly sought after by collectors.
History and Production
The Peace silver dollar has a rich history that dates back to the end of World War I. In 1920, the United States was celebrating the recent end of the war, and historian Farran Zerbe proposed a new design for the silver dollar to commemorate the peace.
The American Numismatic Association was so enthusiastic about the idea that they created a committee to help prepare a bill for Congress to make it happen. The Federal Commission of Fine Arts announced a competition for a design to commemorate world peace after the war in November 1921.
Anthony de Francisci's design was chosen in early December 1921, but it was a bit of a rushed process, which meant that the production of silver dollars dated 1921 was a bit of a challenge. From December 26 through 31, 1921, a total of 1,006,473 Peace dollars were struck at the Philadelphia mint.
The initial design was in high relief to accentuate the artistic details of the new silver dollar, but it was difficult to strike. In 1922, the relief was lowered to make it easier to mint them.
Between 1921 and 2021, a total of 190 million Peace dollars have been struck, which is a relatively low population compared to other coins. This small population explains why Peace dollars are relatively rare and have premium prices.
The Peace dollar was the final general circulating coin to be struck in 90 per cent silver, making it a unique and valuable addition to any coin collection.
Mintage and Rarity
The mintage figures for Peace silver dollars are interesting, and some coins are indeed rarer than others. The 1921 Peace dollar, minted only at the Philadelphia mint and issued in high relief, is one exception.
The 1928-P Peace dollar is another exception, with a mintage of 360,649, but prices for circulated specimens are lower than expected. The U.S. mint announced limited quantities would be produced, which may have contributed to this phenomenon.
The mintage figures for Peace silver dollars from 1921 to 1935 are listed below:
The 1934-S Peace dollar is another coin that stands out, with mid-grade uncirculated specimens costing thousands of dollars.
Mintage Figures
The mintage figures for the Peace dollar are quite interesting. None of the Peace dollar mintages are particularly rare, and the prices for most years are relatively low due to the availability of low-grade circulated specimens.
The first year of issue, 1921 Peace dollar, minted only at the Philadelphia mint and issued in high relief, is an exception to this rule. Its mintage was 1,006,473.
The 1928-P Peace dollar is another exception, with a mintage of 360,649. However, its prices are lower than expected due to the U.S. mint's announcement that limited quantities would be produced, resulting in many being saved.
The 1934-S dollar is a bit of an anomaly, as its prices for circulated specimens are relatively inexpensive, but mid-grade uncirculated specimens can cost thousands of dollars.
Here's a breakdown of the mintage figures for the Peace dollar by year and mint:
These figures give you an idea of the relative rarity of each Peace dollar mint and year.
What Are the Rarest?
The rarest Peace dollars are a topic of great interest among collectors. The 1928-S, 1925-S, and 1934-S Peace dollars are particularly scarce.
Some of the rarest dates of these dollars include the 1928-S, 1925-S, 1934-S, 1927-D, and 1928.
The 1964-D Peace dollar is often referred to as a mythical coin, as it's believed that no examples exist. The production of this coin was authorized in 1964, but was quickly discontinued due to a silver and coin shortage.
The key dates, rarities, and varieties for Peace silver dollars include the 1921, 1928, 1934-D Doubled Die, and 1934-S (Uncirculated). These coins are often counterfeit or altered, so it's essential to have them authenticated by a reputable coin dealer or third-party grading service.
Here are some of the rarest Peace dollars:
- 1928-S
- 1925-S
- 1934-S
- 1927-D
- 1928
Features and Design
The Peace dollar's design is a beautiful tribute to the concept of peace. The obverse features a left-facing portrait of Lady Liberty, adorned in a majestic radiate crown with her hair blowing in the wind.
The design was inspired by Anthony de Francisci's wife, Teresa de Francisci, who acted as the model for the coin's design. The word LIBERTY is engraved at the top, along the coin's edge, and the year date is found at the base on the obverse.
The coin's reverse features an American Eagle on a mountain top with olive branches in its claws, symbolizing the worldwide desire for peace following World War I.
Features of the
The Peace dollar has some amazing features that make it a true classic. The obverse, or front side, of the coin features a left-facing portrait of the Goddess of Liberty, designed by Anthony de Francisci.
The Goddess of Liberty is adorned in a majestic radiate crown with her hair blowing in the wind, giving her a sense of freedom and movement. Francisci's wife, Teresa de Francisci, even acted as the model for the coin's design.
The country's motto, IN GOD WE TRVST, is proudly displayed across the coin, while the word LIBERTY is engraved at the top, along the coin's edge. The year date is found at the base on the obverse, adding a touch of timelessness to the design.
The reverse, or back side, of the coin features an American Eagle on a mountain top with olive branches in its claws. This symbolizes the worldwide desire for peace following World War I.
The coin was originally composed of 90% silver and 10% copper, but in 2021, the silver composition was increased to 99%.
What Are They Made Of?
Peace silver dollars are made of a unique composition. From 1921 until 1935, they were composed of 90% silver and 10% copper.
The earlier Peace silver dollars had a distinct metal mix. This composition is a notable feature of these coins.
Today's Peace silver dollars are made with a much higher percentage of silver. Those produced from 2021 until present day are composed of 99% silver, a significant upgrade from their predecessors.
Frequently Asked Questions
Why is it illegal to own a 1964 Peace Dollar?
It is illegal to own a 1964 Peace Dollar that was not stamped with "COPY" or is not a verified counterfeit, as the majority of these coins were destroyed and only 2 remain. This makes most Peace Dollars in circulation potentially counterfeit or replicas.
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