According to data from the United States Mint, a record 13.5 billion coins are produced by the Philadelphia mint annually. One of such coins ever produced by the mint is the obsolete, yet still recognized 1923 Peace Silver Dollar.
The Silver Peace Dollar was mainly designed to symbolize peace after the end of the First World War. It was the second silver dollar minted after the Morgan Dollar. It is now approximately 100 years old.
The 1923 Silver Peace Dollar is symbolic of America’s peace after the First World War. It bears an image similar to the Liberty Statue in New York.
A 1923 Peace Silver peace dollar’s value is about $25.
If you fancy vintage coins, this is one of the sought-after dollar coins you would probably stock in your home. Read on as we unravel some common features, components, values, and little-known facts about the 1923 peace coin.
What Is the 1923 Peace Silver Dollar?
The iconic 1923 Peace Dollar is one of the coins minted by the US between 1921-1928, 1934, and 1935. It was designed by Anthony de Francisci, a famous sculptor. It was the last silver coin struck for circulation in America.
Although America struck its last peace dollar in 1935, it still remains popular among bullion investors and hobbyists.
Common Features of the Peace Silver Dollar
The peace dollar bears the image of a young lady with a ray-like crown over her head. The stunning image of the lady resembles the Liberty Statue located in New York harbor.
Here is an overview of its obverse and reverse faces:
As already mentioned, the obverse has a dominant image of a lady, popularly known as ‘Miss Liberty’. She wears a crown of radiant rays sparkling over her head. Her hair is neatly shaped and curled at the back of the head, although some loose hair strands hang along the neck.
Over her head, along the rim of the coin, is an inscription: LIBERTY. The date 1923 appears at the bottom of Liberty’s neck, along the lower rim of the coin. The coin also bears a motto inscription ‘IN GOD WE TRUST’ which is written as a straight-line text at the lower portion and spread across the entire portion.
Amazingly, the letter ‘U’ that forms part of the word ‘TRUST’ is written as letter ‘V’. You would be forgiven for thinking that it was the sculptor’s mistake. Certainly, the twist was intentionally done to depict the letter ‘V’ for victory. Finally, the sculptor’s signage appears as ‘AF’ just below Miss Liberty’s neck.
The reverse bears a symbolic bald eagle that is seemingly perching on the peak of a mountain. The American eagle has an olive branch on its claws, largely believed to be a symbol of peace. Unlike other coins bearing an avian emblem, the 1923 peace coin lacks arrow bands, typically associated with military strength.
Through creative artistic prowess, the eagle faces the general direction of the sunrise, to depict hope and assurance of dawning peace. An inscription ‘UNITED STATES OF AMERICA’ appears at the top of the coin along its rim.
The obverse also depicts a motto ‘E PLURIBUS UNUM’ written below the country’s legend. The first two words of the phrase are separated by a conspicuous dot.
According to Harvard University, the Latin phrase stands for ‘one out of many.’ This strongly depicts the US’s determination and ability to mobilize different states to form a single, unified country.
At the lower portion of the reverse face, the coin’s denomination is nicely written as ‘ONE DOLLAR’ is a single, line text. The eagle’s tail feathers divide both words of the denomination into two distinct sides.
On top of the rock on which the bird stands, the word ‘PEACE’ appears, purposefully to give the coin a strong artistic impression of peaceful coexistence.
Dimensions and Composition of the 1923 Peace Coin
The 1923 Peace Silver Dollar only had a mintage of 30, 800,000. It weighs approximately 26.73 grams and measures 38.10 in diameter. It contains 90% Silver and 10% Copper.
According to statistics, each silver dollar coin has an estimated 0.77344 troy ounces of silver. As a result, they are popularly kept by most silver enthusiasts.
Here is a YouTube link describing additional features of the 1923 Peace dollar coin:
Significance and Relevance of its Design
The peace dollar was born as a result of persistent lobbying to commemorate the end of the 1st World War. It was therefore issued five years after the end of the 1st world war to signify a renewed hope of peaceful coexistence.
The coin also had a significant influence on the family life of its artistic designer. Anthony de Francisco and his wife Teresa shared a cordial relationship. During Teresa’s early school days, she was denied a chance to act as American goodness in a school drama.
She further felt upset when she would see New York’s Statue of Liberty during occasional cruise experiences. Anthony, therefore, took advantage of the coin’s design as an opportunity to fulfill his wife’s long-term dream of being an American model.
As a result, he used his wife as a model for the coin’s design.
Value of the 1923 Peace Silver Dollar
According to old statistics by the USA Coin Book, the peace silver dollar had an estimated value of $ 29 in its average condition and $ 50-$ 172 in its uncirculated, mint condition. It also had a melt value of $ 18.41. This means the coin had a significant loss in value when melted.
Today, the coin is highly sought after by various coin collectors and investors worldwide. Most collectors assess and attach value to uncirculated silver coins based on two broad factors namely; general condition and mintmark.
By August 25, 2021, the coin had a silver melt value of $18.31calculated based on the spot price for the silver. The spot price for silver was $ 23.68 for an ounce of silver.
Below are the current values of the silver dollar:
1923 Silver Dollar Without a Mint Mark
Without a mintmark, the silver dollar has a value of $ 25 in its fine condition. The value increases to $ 27 if the condition is extremely fine. An MS 60 grade silver coin is valued at $ 30 if uncirculated and $ 110 if uncirculated and has an MS 65 grade.
1923 D Silver Dollar
This silver dollar sells at $ 28 when in very fine condition and $ 30 in extremely fine condition. The price of uncirculated MS 60 grade silver is $ 75, while an MS 65 grade of uncirculated silver coin retails at $ 850.
1923 Silver Dollar
In its very fine condition, this dollar coin has a value of $ 28 and $ 30 for an extremely fine state. The price of an uncirculated dollar coin with an MS 60 grade is $ 50 and a whopping $ 1, 850 for an MS grade uncirculated dollar coin.
Below is a value chart depicting various coin values of the 1923 Peace Silver
How to Grade the Peace Dollar
If you are a coin collector or silver enthusiast, you would be interested in knowing the condition of your century-old minted coin. Coin grading is a skill that takes years to master even for the most experienced collectors.
How, then, do you determine the quality of a 1923 peace silver coin?
Let’s find out the three main specifications for grading the peace dollar:
An uncirculated peace dollar coin has no sign of any physical abuse or alteration. Though it may be old, it should appear as if fresh from the minting press.
Its color and tone may indicate a sign of old age, but the images and the wordings should have no sign of wear or tear. To have a clear, distinct view of your coin, use a magnifying lens.
An extremely fine coin displays minimal wear or tears on the coin’s texture, words, and images. In rare circumstances, the 1923 peace dollar coin may have slightly worn-out features of Miss Liberty’s crown.
Because of years of exchanging hands between different users, the whole coin or some of its parts may feel smooth when touched. However, it remains attractive and in pristine condition.
A 1923 peace dollar can be graded as fine if its wordings and images are in good condition and are easily identifiable. However, it should have visible signs of tear and wear. Besides, a fine coin may have a dull overall appearance.
A good coin may not have its best shape and form as a result of prolonged touching and the exchange of hands between multiple users.
The coin may have significant wear of its wordings and imagery, hence difficult to recognize its basic features. You may require a closer look using a magnifying glass to view its distinct features.
FAQs About the 1923 Peace Dollar
Peace dollars are still popular despite their long, old age. Because of their awesome value, you definitely want to have as much information as possible on these now defunct, yet still memorized coins.
Below are some of the frequently asked questions about the silver coin:
1. Which Are the Most Valuable Peace Silver Dollars?
The peace silver dollar is only second to the Morgan silver dollar in terms of popularity.
Some of the most valuable peace silver dollar series include:
- 1921 Philadelphia Mint
- 1922 Die Break in Reverse
- 1928 Philadelphia Mint
- 1934 Double Die Obverse
2. Which Is the Rarest Silver Peace Dollar?
For a set of peace dollars to be complete, it should have 24 coins. However, some of the coins are rare and hard to find in high-grade. They include 1921 and 1928 Peace Dollars, and many more. However, the rarest of them all is the 1964-D Peace Dollar.
3. Is There a Shortage of the 1923 Peace Silver Dollar?
Certainly not! The 1923 Peace dollars are readily available in nearly all grades including MS 65 and MS 66. However, in very high grades such as MS 67, the quantity of supply is limited, especially from third-party suppliers and coin holders.