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Value of Peace Dollars

Updated on February 2, 2012

Value of Peace Dollars

The Peace Dollar marks the last mintage of circulation dollar coins that were minted with the precious metal silver. Although there are still proof coins and special release silver coins that are still minted today, none of these are released into public circulation. With a precious metal composition and a beautiful design, Peace Dollars are a favorite among coin collectors.Being last minted over 76 years ago, this large dollar coin is also becoming increasingly hard to find. By now, almost ever Peace Dollar has been removed from circulation and remain tucked away in collections. Covered in this article are a history, melt values and numismatic values for the Silver Peace Dollar.


1923 Peace Dollar Obverse Toned. Photo Courtesy:
1923 Peace Dollar Obverse Toned. Photo Courtesy:

History of the Peace Dollar:

  • The silver Peace Dollar was first released on January 3, 1922. It served as a replacement for the popular Morgan Dollar. Although the Peace Dollar wasn’t released for circulation until 1922, there are over a million dollars with the 1921 date. This is because the Peace Dollars were minted in December 1921 and released shortly after the new year.
  • The designs for the Peace Dollar were created by a medalist named Anthony de Francisci. The obverse of the coin features a crowned Liberty, while the reverse features a perched eagle holding an olive branch. Francisci’s monogram(initials) appear below the neck of Liberty on the obverse of the dollar.
  • During WWI, the United States sold 47% of all minted Morgan Dollars to Britain to be melted for their war efforts. As a result, the Pitman Act of 1918 was passed and required the US Mint to produce enough Peace Dollars to replace the Morgan Dollars that were removed from circulation.
  • The Peace Dollar was minted yearly from 1921-1928 until the requirements of the Pitman Act were fulfilled. The production of Peace Dollars ceased from 1929-1933. Additional legislation allowed for the mintage of Peace Dollars in 1934 and 1935. This marked the last year for dollar coins minted with a silver composition.
  • In 1964, an additional 45 million silver dollars were to be struck for circulation. Over 300,000 Peace Dollars were minted, but the legislation failed and all of the dollars produced are presumed to have been kept and melted. None have ever been found in circulation.


Composition and Melt Value of Peace Dollars:

  • Weight – 26.73 Grams
  • Metal Composition – 90% Silver, 10% Copper
  • Melt Value - $32.13


Value of Peace Dollars:

Even though millions of Peace Dollars were minted to replace the sold-off Morgan Dollars, these dollars remain uncommon and highly sought after. Even common dates still hold good numismatic value. More importantly is the recent silver spike. This has increased the value and demand for these unique silver dollars. Below is a complete list of values for each year of the Peace Dollar mintage:

1922 S Peace Dollar Reverse Toned. Mintmark can be observed near the tail feathers. Photo Courtesy:
1922 S Peace Dollar Reverse Toned. Mintmark can be observed near the tail feathers. Photo Courtesy:

Is my Peace Dollar worth more than Melt?

Unfortunately, there are very few circulated Peace Dollars that are worth more than their weight in silver. If you have a coin in pristine Mint Condition, you’ll be able to cash in on higher values. If you’re unsure of the condition of your Peace Dollar, familiarize yourself with the Coin Grading Scale.

  • 1921 – Valued at $125-2,500+
  • 1922 – Valued at $Melt-175
  • 1922D – Valued at $Melt-400
  • 1922S – Valued at $Melt-2,000+
  • 1923 – Valued at $Melt-150
  • 1923D – Valued at $Melt-1,000+
  • 1923S – Valued at $Melt-5,000+
  • 1924 – Valued at $Melt-200
  • 1924S – Valued at $Melt-5,000+
  • 1925 – Valued at $Melt-175
  • 1925S – Valued at $Melt-2,000+
  • 1926 – Valued at $Melt-400+
  • 1926D – Valued at $Melt-500+
  • 1926S – Valued at $Melt-800+
  • 1927 – Valued at $Melt-2,000+
  • 1927D – Valued at $Melt-5,000+
  • 1927S – Valued at $Melt-10,000+
  • 1928 – Valued at $450-5,000+
  • 1928S – Valued at $Melt-20,000+
  • 1934 – Valued at $Melt-950
  • 1934D – Valued at $Melt-1,500+
  • 1934S – Valued at $80-7,500
  • 1935 – Valued at $Melt-650
  • 1935S – Valued at $Melt-1,250


Whether it be from collector appeal or just overall low mintage numbers, or both, the Peace Dollar has come to contain a great deal of value! Especially for coins that are near pristine condition. I'd like to thank you for reading my article about the Value of Peace Dollars. I hope you have enjoyed the read and will check out more of my coin article below. Thanks again and happy collecting.


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