Peace dollars made of 90% silver and 10% copper were minted from 1921 to 1935 to signify peace after World War I. You can see Lady Liberty on their obverse and Perched eagle on the reverse.
Interestingly, it was the last silver dollar in use minted in the US, and its current value is at least $15 because of the silver it is made of. However, a precise Peace dollar value will depend on its rarity, the mint, and year. Let’s see.
Peace Dollar History
Following the Pittman Act, the US Mint started producing silver Peace dollars in 1921 after Anthony de Francisci’s design. These dollars were minted from 1921 to 1928, and then in 1934 and 1935 in the US to celebrate peace after WWI. However, you can find a few coins minted in 1965 as the last silver dollars in circulation.
Peace dollar value by USA Coin book |
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| Year | Quality | ||||||||
| Mintage | Mint state 60 | Mint state 65 | Good | Very good | Fine | Very fine | Extra fine | About
uncirculated |
|
| 1921 high relief | 1,006,473 | $314 | $2,229 | $107 | $112 | $116 | $125 | $163 | $191 |
| 1922 normal relief | 51,737,000 | $51 | $172 | $26 | $29 | $34 | $41 | $41 | $42 |
| 1922 high relief | 35,401 | / | / | / | / | / | / | / | / |
| 1922 S | 17,475,000 | $60 | $2,589 | $26 | $29 | $ | $41 | $41 | $44 |
| 1922 D | 15,063,000 | $60 | $649 | $26 | $29 | $34 | $41 | $41 | $44 |
| 1923 | 30,800,000 | $51 | $172 | $26 | $29 | $34 | $41 | $41 | $44 |
| 1923 S | 19,020,000 | $60 | $6,533 | $26 | $29 | $34 | $41 | $44 | $47 |
| 1923 D | 6,811,000 | $83 | $1,430 | $26 | $29 | $34 | $41 | $44 | $47 |
| 1924 | 11,811,000 | $51 | $172 | $26 | $29 | $34 | $41 | $44 | $45 |
| 1924 S | 1,728,000 | $243 | $9,445 | $26 | $29 | $34 | $41 | $48 | $72 |
| 1925 | 10,198,000 | $51 | $172 | $26 | $29 | $34 | $41 | $44 | $45 |
| 1925 S | 1,610,000 | $116 | $30,652 | $26 | $29 | $34 | $41 | $44 | $48 |
| 1926 | 1,939,000 | $65 | $623 | $26 | $29 | $34 | $41 | $44 | $47 |
| 1926 S | 6,980,000 | $72 | $1,204 | $26 | $29 | $34 | $41 | $44 | $47 |
| 1926 D | 2,348,700 | $99 | $1,113 | $26 | $29 | $34 | $41 | $44 | $47 |
| 1927 | 848,000 | $99 | $3,144 | $31 | $37 | $42 | $48 | $51 | $60 |
| 1927 S | 866,000 | $229 | $10,872 | $31 | $37 | $42 | $48 | $55 | $87 |
| 1927 D | 1,268,900 | $229 | $5,097 | $31 | $37 | $42 | $48 | $55 | $87 |
| 1928 | 360,649 | $532 | $4,907 | $314 | $341 | $369 | $397 | $424 | $450 |
| 1928 S | 1,632,000 | $206 | $22,753 | $31 | $37 | $42 | $48 | $58 | $75 |
| 1934 | 954,057 | $135 | $834 | $37 | $42 | $48 | $54 | $55 | $60 |
| 1934 S | 1,011,000 | $2,230 | $8,883 | $75 | $83 | $87 | $96 | $201 | $552 |
| 1934 D | 1,569,500 | $172 | $2,016 | $37 | $42 | $48 | $54 | $55 | $60 |
| 1934 D doubled die obverse | N/A | $834 | / | $99 | $112 | $124 | $135 | $208 | $423 |
| 1935 | 1,576,000 | $99 | $865 | $37 | $42 | $48 | $54 | $55 | $60 |
| 1935 S | 1,964,000 | $314 | $1,730 | $37 | $42 | $48 | $54 | $60 | $101 |
The Philadelphia mint produced 1,006,473 high relief Peace dollars from December 26 to December 31, 1921. Since the design was difficult to strike, it was changed in 1922.
Nowadays, these coins are highly collectible and are an excellent investment thanks to the silver they contain. Since it is hard to find MS 66 or MS 67 coins made in the mid-1920s, they are precious.
Peace dollar value by Coinflation.com, 9/9/2021 |
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| Year | Good quality | Fine quality | Extra fine quality | Uncirculated quality |
| 1921 | $75 to $80 | $95 to $110 | $110 to $120 | $200 |
| 1922 | $21 to $22 | $22 to $23 | $24 to $25 | $32 |
| 1922 S | $21 to $22 | $22 to $23 | $24 to $25 | $34 |
| 1922 D | $21 to $22 | $22 to $23 | $24 to $25 | $34 |
| 1923 | $21 to $22 | $22 to $23 | $24 to $25 | $32 |
| 1923 S | $21 to $22 | $22 to $23 | $24 to $25 | $34 |
| 1923 D | $21 to $22 | $22 to $23 | $24 to $25 | $38 |
| 1924 | $21 to $22 | $22 to $23 | $24 to $25 | $32 |
| 1924 S | $22 to $23 | $24 to $25 | $30 to $35 | $150 |
| 1925 | $21 to $22 | $22 to $23 | $24 to $25 | $32 |
| 1925 S | $21 to $22 | $22 to $23 | $24 to $25 | $65 |
| 1926 | $21 to $22 | $22 to $23 | $24 to $25 | $32 |
| 1926 S | $21 to $22 | $22 to $23 | $24 to $25 | $35 |
| 1926 D | $21 to $22 | $22 to $23 | $30 to $31 | $45 |
| 1927 | $24 to $26 | $28 to $30 | $32 to $35 | $55 |
| 1927 S | $24 to $26 | $28 to $30 | $32 to $35 | $140 |
| 1927 D | $24 to $26 | $28 to $30 | $32 to $35 | $135 |
| 1928 | $230 to $240 | $250 to $270 | $280 to $300 | $375 |
| 1928 S | $24 to $26 | $28 to $30 | $32 to $35 | $115 |
| 1934 | $30 to $31 | $32 to $33 | $34 to $35 | $80 |
| 1934 S | $45 to $50 | $32 to $33 | $135 to $150 | $1500 |
| 1934 D | $30 to $31 | $50 to $60 | $34 to $35 | $100 |
| 1935 | $30 to $31 | $31 to $32 | $33 to $34 | $50 |
| 1935 S | $30 to $31 | $31 to $32 | $35 to $40 | $200 |
Even though millions of Peace dollars exist, each of them still has a minimum value of approximately $15 because of silver content. However, many of them are worth much more, depending on their rarity, condition, uniqueness, mintmark, and year of production.
Peace dollar value by Hobbizine, 9/9/2021 |
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| Year | Quality | |||||||
| Mint state 60 | Mint state 65 | Good | Very good | Fine | Very fine | Extra fine | About
uncirculated |
|
| 1921 | $240 | $1,665 | $95 | $115 | $125 | $135 | $145 | $150 |
| 1922 | $33 | $145 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1922 S | $57 | $950 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1922 D | $33 | $145 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1923 | $33 | $145 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1923 S | $33 | $950 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1923 D | $33 | $950 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1924 | $33 | $165 | $14 | $17 | $19 | $21 | $24 | $28 |
| 1924 S | $190 | $9,500 | $28 | $33 | $38 | $42 | $48 | $67 |
| 1925 | $38 | $165 | $14 | $17 | $21 | $21 | $28 | $32 |
| 1925 S | $96 | $23,750 | $17 | $21 | $24 | $28 | $33 | $43 |
| 1926 | $43 | $475 | $14 | $17 | $23 | $26 | $30 | $36 |
| 1926 S | $43 | $950 | $14 | $17 | $23 | $26 | $30 | $36 |
| 1926 D | $67 | $855 | $14 | $17 | $23 | $26 | $33 | $38 |
| 1927 | $71 | $2,375 | $24 | $28 | $38 | $43 | $48 | $52 |
| 1927 S | $165 | $9,500 | $24 | $28 | $38 | $43 | $48 | $76 |
| 1927 D | $145 | $4,750 | $24 | $28 | $38 | $43 | $48 | $71 |
| 1928 | $545 | $4,275 | $335 | $260 | $380 | $405 | $430 | $450 |
| 1928 S | $190 | $21,375 | $28 | $33 | $38 | $43 | $48 | $76 |
| 1934 | $105 | $715 | $21 | $23 | $27 | $27 | $28 | $48 |
| 1934 S | $1,710 | $9,500 | $34 | $38 | $19 | $95 | $190 | $380 |
| 1934 D | $125 | $1,665 | $21 | $23 | $95 | $27 | $28 | $48 |
| 1935 | $67 | $715 | $17 | $21 | $23 | $24 | $28 | $33 |
| 1935 S | $210 | $1,425 | $17 | $21 | $23 | $24 | $33 | $95 |
Rarest and Most Valuable Peace Dollars
As always, some of these dollars are highly appreciated among collectors. Most of them are prepared to spend hundreds, even thousands of dollars for one of these unique coins. Surprisingly, some pretty ordinary, non-error coins can reach a decent amount of money.
Most valuable Peace dollars |
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| Coin | Year | Price |
| Peace dollar | 1921 | $1,600 |
| Peace dollar | 1923 S | $2,800 |
| Peace dollar | 1924 S | $8,200 |
| Peace dollar | 1925 S | $15,000 |
| Peace dollar | 1927 S | $6,200 |
| Peace dollar | 1927 D | $4,250 |
| Peace dollar | 1928 | $3,500 |
| Peace dollar | 1928 S | $16,500 |
| Peace dollar | 1934 S | $8,000 |
| Peace dollar | 1934 D | $1,320 |
A Peace dollars’ set includes 24 coins, including a few rare you can hardly find on the market, like:
Peace dollar (1921) – Only 1,006,473 of these coins were minted at the Philadelphia mint, and they are still crucial for collectors.
Peace dollar (1928) – The Philadelphia mint produced 360,649 Peace dollars in 1928, and this particular coin is considered the rarest in the set.
Peace dollar (1964 D) – The Denver mint produced only 300,000 of these dollars in 1965, dated in 1964.
Since silver prices skyrocketed that year, the government decided to have these coins melted. As a result, only a few of them survived. Keep in mind that it is illegal having them since they are considered stolen government property.
Semi-key dates – Since some coins were minted in a smaller amount, they are considered semi-key dates, like:
- 1924 S
- 1925 S
- 1927, 1927 S, and 1927 D
- 1928 S
- 1934, 1934 S, and 1934 D
- 1935 and 1935 S
They are more expensive for at least 10% to 50% than typical Peace dollars.
Key Date Peace Dollars
As you can expect, coins minted on specific dates are rare and can be expensive.
Key date Peace dollars’ value |
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| Coin | Year | Very fine quality | Mint state quality |
| Peace dollar | 1921 | $125 | $1,750 |
| Matte proof | 1921 | n/a | $100,000 |
| Normal relief matte proof | 1922 | n/a | $125,000 |
| High relief matte proof | 1922 | n/a | $150,000 |
| Peace dollar | 1928 | $300 | $4,000 |
| Peace dollar | 1934 S | $75 | $8,000 |
Always be careful when deciding to buy Peace dollar, since you can find many counterfeit or altered ones on the market these days.
Summary
Many coin collectors appreciate Peace dollars since almost anyone can complete the set at a reasonable price. They are not particularly rare, and you can find them in various conditions and buy them regardless of your budget.
Always pay attention to the coin’s condition, year, and mintmark since the right combination makes the difference between $15 and a few hundred dollars.
