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It’s rare when two different coins become associated with one another. They came from different times, have different designs, and yet come in one Morgan and peace silver dollar set.
What is the difference between these coins, and what’s their worth? This article has everything you need to know about Morgan and peace silver dollar value, and ways to identify rare varieties.
No coin appraiser nearby? The dates and design seem confusing? Use the AI coin Identifier.
How Morgan Dollars Turned into Peace Dollars
Both coins have history, and they are at least a century old. But what came first?
Morgan Dollar was minted in 1878-1904, and 1921. It contained silver, made to promote this metal. The official mintage stopped in 1904, and the 1921 Morgan Dollar reappeared as “the last goodbye”. The first Peace Coin appeared alongside it in 1921 and carried the torch.
Peace Dollars, as a series of silver coins, were produced from 1921 to 1935. Like Morgans, they also had a political message. To embody a message of peace and hope after the destructive World War I.
Peace and Morgan coins reappeared in 2021 as commemorative collectible sets. You can buy 2024 Morgan and Peace silver dollar coins, and the 2025 edition came recently.
Morgan Silver Dollar VS Peace Silver Dollar
On the online shops, these series are sometimes grouped, but remember, they are different coins!
The easiest way to differentiate between the two is by comparing the designs.
Morgan Coin Design
The piece is named after its engraver, George T. Morgan. He modeled Lady Liberty’s design after Anna Willess Williams, a teacher.
Obverse: Lady Liberty in profile wearing a Phrygian cap. The word "LIBERTY" appears on her headband. Around the rim, you’ll find an inscription "E PLURIBUS UNUM," and thirteen stars represent the original thirteen colonies.
Reverse: Bald eagle with wings spread and arrows/olive branch. You can find inscriptions like "UNITED STATES OF AMERICA", "ONE DOLLAR", and "IN GOD WE TRUST.
Peace Coin Design
The piece was designed by Anthony de Francisci. When he was making Lady Liberty, he modeled her image after his wife.
Obverse: Stylized Liberty with a radiant crown. She has an inscription "LIBERTY" on the top. Another inscription, "IN GOD WE TRVST" (with a "V" in place of "U") is in the middle.
Reverse: Bald eagle at rest holding olive branch, Inscriptions are “PEACE”, "UNITED STATES OF AMERICA", "E PLURIBUS UNUM", "ONE DOLLAR", and "PEACE".
Comparing Minor Details
We can also compare both pieces on the measures and other data.
Feature | Morgan Dollar | Peace Dollar |
Years minted | 1878–1904, 1921, (2021–2025 special issues) | 1921–1928, 1934–1935, (2021–2025 special issues) |
Designer | George T. Morgan | Anthony de Francisci |
Mint marks | CC, O, S, D, P/No Mint mark | S, D, P/No Mint mark |
Metal content | 90% silver, 10% copper | 90% silver, 10% copper |
Diameter | 38.1 mm | 38.1 mm |
Weight | 26.73 grams | 26.73 grams |
Most Valuable Morgan And Peace Silver Dollars
The rarest Morgan Peace silver dollar examples are in this list. They are excellently preserved, from small mintages, and some were made with valuable errors.
1893-S Morgan Dollar
How to Spot: Look for “1893” on the obverse and an “S” mint mark (San Francisco) beneath the eagle on the reverse.
Mintage: 100,000 (lowest of all Morgans).
Value: $3,000+ in heavily worn condition, $100,000–$500,000+ in uncirculated grades.
The 1893-S Morgan Dollar is considered the rarest of its kind. Extremely low mintage + multiple meltings left only a few survivors. This coin leads the most valuable Morgan dollar lists.
1928 Peace Dollar
How to Spot: Only struck at the Philadelphia Mint (no mint mark). Check for the 1928 date on the obverse and strong hair detail.
Mintage: 360,649.
Value: $250–$400 in circulated grades, $3,000–$10,000+ in Mint State.
The 1928 coin is the lowest-mintage regular-issue among other Peace coins. It’s scarce in all grades.
1889-CC Morgan Dollar
How to Spot: Look for the 1889 date and “CC” mint mark (Carson City) under the wreath on the reverse. Often has weak detail due to die wear.
Mintage: 350,000.
Value: $1,000+ in circulated grades, 30,000–$300,000+ in uncirculated grades.
Coin mint marks show where the piece was made, and “CC” mint marks stand for Carson City issue. Only a few coins came from Carson Mint Facility, which makes them rare.
1921 High Relief Peace Dollar
How to Spot: Look for the 1921 date. The piece should have no mint mark. Features are more elevated and bold compared to later Peace releases.
Mintage: 1,006,473.
Value: $300+ in lower grades, $2,500+ in Mint State.
1921 was the first year of the Peace bit issue. The first issue had a unique high-relief design. Some might call it a big error or a special edition, but it’s a valuable one.
1901 Morgan Dollar (Philadelphia)
How to Spot: No mint mark under the eagle (Philadelphia issue). The data is 1901, on the obverse.
Mintage: 6,962,000.
Value: $50–$100 in circulated grades, $10,000–$300,000+ in uncirculated condition
You might think that this comparatively high mintage means a low value, but only a few pieces survived melting.
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