It is an incontestable fact that Peace silver dollars are one of the most beautiful denominations to be ever minted. No wonder collectors are desperate to complete their Peace silver dollar series!
This post will discuss the last Peace silver dollars to be minted before it recently restarted in 2021 – 1935 Peace silver dollars. In fact, these were believed to be the last batch of silver dollars ever to be minted at the time until 1964-D silver dollars were circulated.
In this post, we will discuss the 1935 Peace silver dollars value, history, and story. Let’s get started!
What’s The 1935 Peace Silver Dollar?
Peace silver dollars were circulated from 1921 to 1928 and again in 1934 and 1935. This denomination, designed by Anthony de Francisci, an Italian-American sculptor, started running again in 2021.
However, it was announced on 14 March 2022 that the US Mint will not be minting Peace dollars for 2022.
Peace silver dollars minted in 1935 are called 1935 Peace silver dollars. Around 3.6 million Peace silver dollars were minted in 1935, combining the coins struck at both Philadelphia and San Fransisco mints.
Features of 1935 Peace Silver Dollar
1.  Design:
Anthony de Francisci’s Peace silver dollar denomination was the product of a competition aiming to find a design representing Peace.
The youngest of the competitors, de Francisci, requested his wife to model for Liberty. Therefore, Liberty on the obverse side of the coin is based on his wife’s features. The Liberty on Peace silver dollars is wearing a radiate crown.
On the reverse side of the 1935 Peace silver dollar, you’ll notice a perched bald eagle and shining rays of the sun from behind. ‘PEACE’ is written right below the eagle.
2.  Coin Specification:
A 1935 Peace silver dollar comprises 90% silver and 10% copper. The mass of this coin is 26.73 gm, and the diameter is 38.1 mm. The edges are reeded, and the coin thickness of 1921 to 1935 Peace silver dollars is 2.4 mm.
3.  Mint Marks:
1935 Peace silver dollar coins were struck at only two minting facilities. The coins minted at the Philadelphia mint, being struck at the main US mint, don’t feature any mint mark.
On the other hand, coins struck at the San Fransisco minting facility have an ‘S’ mint mark on the reverse side of the coins, right in between the tip of the eagle’s wing and ‘ONE’.
Which Mints Made The 1935 Peace Silver Dollar?
1.  Philadelphia Mint:
Around 1,576,000 of 1935 Peace silver dollars were minted at the Philadelphia mint. This mintage number is quite high, and therefore, 1935 peace silver dollars, in fairness, cannot be categorized a rare coins.
2.  The San Fransisco Mint:
Surprisingly, more peace silver dollars were minted at the San Fransisco mint that in the Philadelphia mint in 1935. A total of 1,964,000 1935 peace silver dollars were struck at the San Fransisco minting facility.
1935-S were struck in two reverse varieties with either three or four sun rays right below the ‘ONE’. The four-rayed coins are relatively rarer and might demand more price than their three-rayed counterparts.
Reasons For Minting 1935 Peace Silver Dollar
1921 High Relief Peace Silver Dollars were minted as an emblem of peace after the end of World War I in 1918. The Pittman Act of 1918 authorized the melting of up to 350 million silver dollars to be sold to Britain at the rate of a dollar per ounce of bullion.
Consequently, during the early 1920s, the US needed to replace these molten coins and thus, started the minting of Peace silver dollars in large quantities.
After the minting of Peace dollars ceased in 1928, the coins were restruck at the mints after a six-year-long break.
After the stock market crash of 1929 and the beginning of the Great Depression, 1934 Peace dollars were minted to increase the money supply and to support domestic silver production as a large quantity of this commodity sat idle during these years.
The Silver Purchase Act of 1934 mandated that Treasury buy silver until the market price of the commodity reached $1.2929.
What Factors Influence The Value of The 1935 Peace Silver Dollar?
1.  Errors:
Ironically, errors in rare coins are a good thing. They make the coin more exclusive and rare and, consequently, sell for hundreds or even thousands more than their regular counterparts.
One of the errors when it comes to 1935-S Peace dollars is the double-dyed reverse. You can clearly witness this error if you closely take a look at the spread on the branches on the reverse side.
Another error on 1935-S is the planchet flaw on the obverse side of the coin, precisely, on the Liberty’s flowing hair on the front. You might also encounter some obverse broad struck variety of this coin.
2.  Grades:
- Uncirculated:
Uncirculated Mint State (MS) Peace silver dollars are the highest in preservation as well as the value. The presence of luster at the highest point of the coins and the texture and text looking as if they were freshly struck are some of the key characteristics of uncirculated coins.
The uncirculated MS ranges from 60 to 70. Not being in circulation doesn’t mean these coins are devoid of faults. The grading is done based on minor scratches and abrasions on the surface.
- Extremely Fine:
Extremely fine Peace dollars looks amazingly preserved with minimal sign of circulation. You may witness signs of wear on the hair above the Liberty’s eye and on the nose.
On the reverse side, you’ll notice a slight flattening of the texture of the eagle’s feathers around the neck, shoulder, and leg. Take note that the three lines of feather on the eagle’s body are still noticeable.
- Fine:
Fine details preservation is extremely low in fine coins. The Liberty’s hair is detailed only around the end; the hair chunks are still decently separated.
On the reverse side, while the coins will have lost all the finer feather details, the body of the eagle is well-retained. The rim looks of the coin looks complete on both sides of the coin.
- Good:
Good is actually not ‘Good’ when it comes to grading coins. The rims of the coins will have probably merged with the text on a good 1935 Peace silver dollar.
On the reverse side, ‘PEACE’ looks very faint, and so does the text ‘E PLURIBUS UNUM’. Consequently, good coins are the most affordable and common coins among collectors.
3.  Cleanliness:
It is a well-known fact that the more luster and cleanliness, the more money collectors will spend on a coin. So, it is imperative you handle and clean your coins well using appropriate methods.
4.  Rarity:
While 1935 Peace dollars were themselves minted in lesser numbers, there are some other rarity signals that you have to educate yourself on. The four ray design above the eagle’s feather tips is relatively rare than the three ray design in 1935-S coins.
Value of 1935 Peace Silver Dollar
As of 14 April 2022, the value of silver is $25.64 per ounce. Consequently, the melt value or the minimum value of the 1935 silver dollar, which is calculated considering the total silver weight in the coin, is $19.83.
Beyond that, these coins are sold with hundreds or even thousands of dollars price tags, depending upon the different factors discussed above.
Despite being almost century-old coins, their price still majorly relies on their minimal silver content value and, therefore, fluctuates with the change in the silver market.
Having said that, these coins in higher MS grades are definitely worth thousands of dollars. Moreover, no proof 1935 peace silver dollars were struck.
Below is the list of 1935 and 1935 – S circulated Peace silver dollars latest estimated value. Once you grade your coin, have a look at this list for reference purposes.
| Good (G – 6) | Very Fine (VF – 20) | Extremely Fine (EF – 40) | About Uncirculated (AU – 50) | |
| 1935 | $31 | $38 | $45 | $60 |
| 1935 – S | $34 | $42 | $60 | $110 |
| Source: PCGS | ||||
Circulated coins are auctioned for much higher prices, given how they are rare, lustrous, and preserved in excellent conditions. While coins up to MS63 are often readily available and affordable, beyond that, the prices hike up exponentially.
Here are the latest auctioned prices of 1935 Peace silver dollars for MS61 and above. This data was retrieved from PCGS on 15 April 2022.
| MS61 | MS62 | MS63 | MS64 | MS65 | MS66 | MS66+ | MS67 | |
| 1935 | $130 | $169 | $288 | $360 | $780 | $2,520 | $6,600 | $39,600 |
| 1935 – S | $325 | $425 | $475 | $875 | $1,750 | $3,000 | $10,000 | $35,000 |
| Source: PGCS | ||||||||
Summary
Do you own a high MS 1935 peace silver dollar? If yes, you’ll make banks if you auction it. And if you’ve recently added one to your collection instead, well, congratulations. Peace dollars are simply striking, and to be honest, their aesthetics is enough to make collectors desire them.
Before bidding farewell on this post, we wanted to ask for some coin cleaning and maintenance tips from you. We’d love to hear your insights. We cannot deny that the cleanest and most lustrous coin demands the best value now, can we?
