The Peace dollar is a stunning and highly collectible coin, minted to commemorate the peace following World War I. These coins often hold significant value, with some reaching six-figure price tags. Even in less-than-perfect condition, a Peace dollar is worth far more than its original face value.
The obverse of the Peace dollar showcases the profile of the goddess Liberty, while the reverse features a resting bald eagle clutching an olive branch. Beneath the eagle, the word “Peace” is inscribed, representing the conclusion of World War I. Minted for only a brief period, these coins have become rare treasures for collectors due to their historical significance and unique design.
Six of the Most Valuable Peace Dollars
Although the Peace dollar is not as old as other historic silver coins, it ranks among the most valuable. Numerous examples have fetched impressive prices at auction. Below are some of the highest-recorded values for this remarkable coin:
| Peace Dollar | Value |
|---|---|
| 1922 Peace dollar high-relief matte proof | $329,000 |
| 1922 Peace dollar high-relief sandblasted finish | $192,000 |
| 1922 Peace dollar low-relief matte proof | $192,000 |
| 1921 Peace dollar satin proof | $150,000 |
| 1925-S Peace dollar | $132,000 |
| 1923-D Peace dollar | $120,000 |
Quick Fact
The Peace dollar has a face value of just one dollar, but it is composed of 90% silver. This means its melt value alone is higher than its nominal value. While silver prices can vary, even the least valuable Peace dollars typically fetch $30 or more.
1922 Peace Dollar High Relief Matte Proof
Proof coins are specially made for collectors and are not meant for general circulation. They are known for having sharper, more defined strikes compared to regular circulation coins. The 1922 high-relief matte proof is particularly rare due to its distinct design. Only about a dozen of these coins, featuring a matte finish and high-relief details, are known to exist. Because of their rarity and unique craftsmanship, these coins can command substantial prices. In 2014, one in nearly flawless condition was sold for an impressive $329,000.
1922 Peace Dollar High Relief Sandblasted Finish
The year 1922 was a period of experimentation for the Peace dollar, with several variations in its design and finish. Along with the high-relief matte proof and satin finishes, the sandblasted finish was another unique version produced for that year. The 1922 Peace dollar featuring both high relief and a sandblasted finish is one of the rarest combinations. Due to its distinct characteristics, this business strike coin can be highly valuable, especially in excellent condition. In 2019, one such coin fetched $192,000 at auction.
1922 Peace Dollar Low Relief Matte Proof
Although the high-relief matte proof of the 1922 Peace dollar is the most valuable, the low-relief version still holds significant worth, particularly when in excellent condition. While the design isn’t as sharply struck, the intricate details, such as the soft tendrils of Liberty’s hair, remain clearly visible. This version is incredibly rare, with only a handful of examples known to exist. In 2023, one such coin was sold for $192,000, demonstrating its high value in the collector’s market.
1921 Peace Dollar Satin Proof
The 1921 Peace dollar was issued in both satin and matte finishes, with the satin version being especially rare. Only about two dozen satin-finish examples are known to exist, making this one of the most sought-after Peace dollars. The proof coin is highly detailed, showcasing a level of craftsmanship and quality not typically seen in business strike coins. In 2023, one of these rare satin proofs sold for $150,000, highlighting its exceptional value to collectors.
1925-S Peace Dollar
The 1925-S Peace dollar, minted at the San Francisco Mint, is one of the rarest in gem condition. When it remains uncirculated, this coin can command a high price due to its scarcity. As a key date for collectors of the Peace dollar series, the 1925-S is highly sought after. In 2022, one example of this rare coin sold for $132,000 at auction, underscoring its significant value among collectors.
1923-D Peace Dollar
The 1923-D Peace dollar, minted at the Denver Mint, was once considered nearly unattainable in the early 1920s. Collectors believe that this issue was stored in bags at the Mint for years before being released in larger quantities, which led to its scarcity. Many of the coins that were stored have noticeable bag marks, making it rare to find one in good condition. In 2021, a 1923-D Peace dollar in pristine condition—free from bag markings was sold for $120,000 at auction.
Need to Know
To celebrate the 100th anniversary of the Peace dollar’s original release, a proof version of the coin was reissued in 2021, with another batch released in 2023. Modern versions of this iconic coin are now available for collectors.
Other Valuable Peace Dollars
While some Peace dollars have made headlines due to record auction prices, there are other notable coins in the series that are worth watching. Here are a few to keep an eye out for if you’re building or inheriting a coin collection:
- 1928-P Peace Dollar: Although not officially rare, the 1928 Peace dollar from the Philadelphia Mint is difficult to find and commands significant value. Even in rough condition, it can sell for $200 and up, with uncirculated examples reaching over $30,000.
- 1924-S Peace Dollar: This coin from the San Francisco Mint is not rare, but it’s challenging to find in good condition. It typically sells for about $34 in poor condition, but examples in gem or uncirculated quality can fetch $40,000 or more.
- 1934-S Peace Dollar: Much like the 1924-S, the 1934-S Peace dollar is hard to find in gem or uncirculated condition. While it’s worth a minimum of $40, uncirculated, pristine versions can sell for $100,000 or more.
Fast Fact
In 1964, the Denver Mint struck 316,076 Peace silver dollars, but all were meant to be destroyed before entering circulation. Speculation exists that a few may have survived, though if they were bought or sold, they could be confiscated. If they ever hit the market, these 1964-D Peace dollars could become among the most valuable coins ever.
Factors Affecting Peace Dollar Values
Peace dollars generally maintain a value of at least $30 due to their silver content. However, certain factors can significantly increase their worth. Here’s what to look for:
- Uncirculated Condition: Coins that show no signs of wear are the most valuable. Look for Peace dollars that are in pristine, uncirculated condition.
- Rare Years: Coins minted in limited quantities or from specific mints are more valuable. Key years like 1928-P, 1924-S, 1934-S, and 1921 and 1922 are especially sought after by collectors.
- Variations: The 1921 and 1922 Peace dollars came in various finishes and reliefs, such as high relief, low relief, matte, and satin finishes. These variations can increase a coin’s value.
- Proof Coins: Proof versions are generally more valuable than business strikes due to their superior quality, including sharper details and deeper strikes.
An Iconic Coin Representing Peace
The Peace dollar holds significance beyond its monetary value. It symbolizes a hopeful era in American history, celebrating the peace that followed World War I. While that peace was short-lived, the coin remains a lasting reminder of the ideals it once represented.
FAQs
What makes the 1922 Peace Dollar so valuable?
The 1922 Peace Dollar is highly valuable due to its rare high-relief variations, especially the matte proofs, which are prized by collectors for their unique design and limited availability.
Why is the 1923-D Peace Dollar worth so much?
The 1923-D Peace Dollar is valuable because it is difficult to find in good condition, with many coins showing bag marks. In pristine form, it can fetch hundreds of thousands at auction.
What are the key factors that affect Peace Dollar prices?
Key factors include the coin’s condition (uncirculated is most valuable), its rarity (certain years and mint marks are more sought after), and any unique variations in design or finish.
Are there modern Peace Dollars worth six figures?
While modern versions of the Peace Dollar, such as the 2021 and 2023 proofs, are collectible, they typically do not reach the six-figure values seen with older, rarer editions like those from 1921 to 1923.