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Peace Silver Dollars: Complete Value Guide & Rare Coin List

author photo

Laura Bennett

Author

author photo

David Mitchell

Expert

07.06.25

8 min

Peace Silver Dollars: Complete Value Guide & Rare Coin List

Contents:

Peace dollars are symbolically and materially important.  They symbolize stability, something that everyone needed after World War I, when the coin first appeared.

Ready to know more about these coins? We’ll tell you about the Peace Silver Dollar value and how to spot the rare varieties.

By the way, a coin identifier app can recognize your coins in a second.

A Coin of Hope: The Origin of the Series

The issue was a direct result of the end of World War I and the search for new symbols to express hopes for world unity. Its minting began in 1921, when the American government was looking for a way to replace the outdated Morgan piece with something more modern and symbolic.

A competition for a new design to replace the 1920 coin was announced, and the winner was sculptor Anthony de Francisci, who proposed an image of a woman with a crown of rays that represented Liberty, but in a softer style.

What's Behind the Peace Dollar: Characteristics and Differences

Are peace dollars silver? Yes, they are. And we’ve got some other info:


Country

United States

Peace Dollar Years of Minting

1921-1964

Shape

Round

Amount of Silver in Peace Dollar

90% Ag

Diameter

38,1 mm

Peace Dollar Weight

26,73  grams


The set includes several clear points of distinction. The most noticeable is the jump from the 1921 High Relief Peace Dollar to the Lower-Relief issues of 1922–1935, which were easier for the Mint to strike. Smaller adjustments to Liberty’s hair, the eagle’s feathers, and other details appear as dies were replaced or reworked.
Main differences include:

1.Design

  • 1921 struck in high relief
    1922–1935 struck in low relief

“High-grade Peace dollars are far scarcer than their mintage figures suggest, largely due to indifferent storage practices at the Mint.”
— David W. Lange, U.S. coin historian
History of the United States Mint and Its Coinage
2. Mint production and types of a mint mark on Peace Dollar
  • Philadelphia (no mintmark)
  • Denver (D)
  • San Francisco (S)
  • A few dates appear from only one mint, such as 1921 and 1928
3. Rarity
  • Key dates: 1921, 1928, 1934-S
  • Semi-keys: 1923-S, 1924-S, 1925-S, 1927-D/S, 1934-D, 1935-S

The Peace Dollar melt value (1921–1935) is currently about $41.90 USD (November 2025).

Peace Dollars Design

The coin is the successor to the 1921 Morgan Dollar. Both have similar histories and were minted to reflect the value of the metal. 

Obverse: Lady Liberty. Anthony de Francisci, the coin’s designer, modeled Lady Liberty after his wife. There are inscriptions "LIBERTY" and "IN GOD WE TRUST". The date is at the bottom.

Reverse: An eagle at rest, gazing toward a rising sun. You should see the inscriptions: "UNITED STATES OF AMERICA", "E PLURIBUS UNUM". The denomination “ONE  DOLLAR” is in the lower middle, close to the eagle’s tail.

Rare Peace Coins List

Here’s the cream of the crop among these coins. Each is exceptionally rare and worth a lot.

But what makes each of them rare, and what price should you expect for buying/selling such a specimen?

1928 (Philadelphia) Peace Dollar

a 1928 peace dollar in mint condition.

This is the lowest-mintage regular issue. It’s considered one of the Peace Dollar key dates and is especially valuable in higher grades. It’s hard to find mint-state pieces, as most were minted in low quantities.

Mintage: 360,649.

Estimated Value: Around $200 in lower circulated grades, $8,000+ in MS-65+.

1921 (High Relief) Peace Dollar

a 1921 peace dollar with pronounced relief.

The only one struck in high relief. It was the first year of issue and has strong historical and design appeal. Scarce in uncirculated condition.

Peace Dollar Mintages: 1,006,473.

Estimated Value: $3000 in circulated condition, $1,500+ in MS-65+.

1934-S (San Francisco) Peace Dollar

a 1934 peace dollar with an "S" mint mark.

The 1934 edition was the revival of the series (the mintage officially stopped in 1928). Revivals are a common trend. The mintage of 1934 isn’t especially low, but this date is very hard to find in mint state, particularly above MS-64. It's a conditional rarity with a Peace Dollar mint mark S.

Mintage: 1,011,000.

Estimated Value: up to $150 in circulated condition, $11,500+ in MS-65+

1935-S (San Francisco) Peace Dollar

a 1935 peace dollar with an "S" mint mark.

The final year of the original series. It becomes rare if it’s a Peace Silver Dollar uncirculated coin, and is desirable to those completing full sets.

Mintage: 1,964,000.

Silver Peace Dollar Value: about $75 in circulated condition, $1,450+ in MS-65.

1925-S (San Francisco) Peace Dollar

a 1925 peace dollar with an "S" mint mark.

A lot of 1925-S pieces came with low quality, which makes higher grades very desirable. This abundance of errors was common for that era.

Mintage: 1,600,000.

Estimated Value: about $40 in circulated condition, $15,000+ in MS-65.

Peace Dollar Value Chart by Years for Collectors

Year

Mint

G4

VF20

AU50

MS65

1921

P

$119–$161

$129–$175

$139–$189

$544–$736

1922

P

$30–$40

$32–$44

$35–$47

$136–$184

1922

D

$30–$40

$32–$44

$35–$47

$136–$184

1922

S

$30–$40

$32–$44

$35–$47

$136–$184

1923

P

$30–$40

$32–$44

$35–$47

$136–$184

1923

D

$30–$40

$32–$44

$35–$47

$136–$184

1923

S

$54–$73

$58–$79

$62–$85

$245–$331

1924

P

$30–$40

$32–$44

$35–$47

$136–$184

1924

S

$54–$73

$58–$79

$62–$85

$245–$331

1925

P

$30–$40

$32–$44

$35–$47

$136–$184

1925

S

$54–$73

$58–$79

$62–$85

$245–$331

1926

P

$30–$40

$32–$44

$35–$47

$136–$184

1926

D

$30–$40

$32–$44

$35–$47

$136–$184

1926

S

$30–$40

$32–$44

$35–$47

$136–$184

1927

P

$30–$40

$32–$44

$35–$47

$136–$184

1927

D

$54–$73

$58–$79

$62–$85

$245–$331

1927

S

$54–$73

$58–$79

$62–$85

$245–$331

1928

P

$119–$161

$129–$175

$139–$189

$544–$736

1934

P

$30–$40

$32–$44

$35–$47

$136–$184

1934

D

$54–$73

$58–$79

$62–$85

$245–$331

1934

S

$119–$161

$129–$175

$139–$189

$544–$736

1935

P

$30–$40

$32–$44

$35–$47

$136–$184

1935

S

$54–$73

$58–$79

$62–$85

$245–$331

1964-D “Ghost” Issue

In 1964, Congress authorized new metal money due to pressure from Western casinos and silver-certificate redemption demands.

The Denver Mint began striking 1964-D Peace Dollars, using the standard design resurrected from the archives.

Why were they destroyed? 

  • The public started hoarding all the circulating metal

  • Political pressure increased

  • Costs spiraled upward

The Treasury canceled the entire program and ordered all pieces melted.

The official record states: “No specimens were preserved. None were released.”

Do any survive today? Official answer: No. If one surfaced, it would be illegal to own — similar to the 1933 Saint-Gaudens Double Eagle situation.

1964 D Token Fantasy Peace Dollar $1

Coin Value Guide

What makes a coin valuable, and how to find valuable pieces? Here’s a little guide for you.

A coin is considered valuable due to:

  • Material. How much silver is in a Peace Dollar? Pure Ag weight: 0.77344 troy ounces. In grams: 0.77344 troy oz × 31.1035 g/oz ≈ 24.06 grams of pure Ag. The Peace dollar silver content makes them very desirable among collectors.

  • Date. The older the piece, the more desirable it is.

  • Grade. The higher the state of the coin is, the higher its grade. Those in mint state usually cost at least more than $1000.

  • Mintage. One of the biggest value factors. Most rare coins have low mintages.

How to find a valuable coin?

  • Always check mint marks. Coin mint marks show where the piece was made, and some marks are rarer, like “S” (San Francisco), “CC” (Carson City), and “O” (New Orleans).

  • Check the condition of your piece. The condition drastically changes the value, especially if it comes with a certificate. Look for appraisers who could help you.

  • Do not clean your collectible. Polished or harshly cleaned coins lose collector value. Most people don’t know how to clean them properly, so it’s best to leave them alone.

coins being cleaned inappropriately under a sink.

Coin ID Scanner

Coin ID Scanner is a strong, free tool for identifying coins for all types of collectors.

If you don’t have a professional appraiser, just turn on the app, take a photo of your collection, and the app will scan it with the power of AI.

Coin ID Scanner boasts a catalog of 150,000+ coins, and each piece you scan becomes a part of your digital collection. Even if you end up selling your piece, it will always stay with you in the app.

You can download Coin ID Scanner for free on Android/iOS.

FAQ

How many Peace Dollars make an ounce of silver?

Each coin contains 0,7734 troy oz. of this metal. To make an ounce, you’d need 1,3 pieces.

Are there 2023 Morgan and Peace Dollars?

Yes! Even though they started circulating a century before their mintage officially started, lately they’ve been recirculated to commemorate the 100th anniversary.

Are Peace coins valuable?

Yes, they are valuable. For their metal content, even common pieces could get collectors $25 and more. Rarer examples are worth $1000 or more.

Related Coin Value Guides

Laura Bennett

Laura Bennett

Author

Professional numismatist and data expert applying predictive analytics to coin markets. Developed AI models for Coin ID Scanner, boosting reliability in coin identification and global collector engagement.

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