Struck to celebrate the peace after World War I, the Peace dollar is a unique and beautiful coin that collectors love. Peace dollar values can reach six figures, and even in rough condition, these coins are worth a lot more than face value.
The front of the Peace dollar features the goddess Liberty in profile, and the back has a special design with a resting bald eagle clutching an olive branch. The word "Peace" is stamped below the eagle, symbolizing the end of the first world war. These coins were only minted for a few years, and many of them are extremely valuable.
Six of the Most Valuable Peace Dollars
Even though this early 20th-century coin isn't as old as some other silver dollars, it's among the most valuable. There are many examples that have sold for thousands. These are some of the highest auction records for this 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 |
The face value of a Peace dollar is one dollar, but this coin is made of 90% silver. That means that it has a melt value that's higher than its face value. The price of silver fluctuates, but even the least valuable Peace dollars are worth $30 and up.
1922 Peace Dollar High Relief Matte Proof
Proof coins aren't intended for circulation, and they often feature deeper, bolder strikes than their circulation counterparts. In the case of the 1922 matte proof, the high-relief design is incredibly rare. Collectors know of about a dozen of these detailed coins with a matte surface, and they can be very valuable. One in nearly perfect condition sold for $329,000 in 2014.
Related: 6 Most Valuable Silver Dollars That Could Be Worth Millions
1922 Peace Dollar High Relief Sandblasted Finish
1922 was a year of experimentation with the minting of the Peace dollar. From the high-relief matte proof to the satin and sandblasted finishes for the business strike, there are lots of versions of the coin for this year. The 1922 Peace dollar with a high relief and sandblasted finish is one of the rarest combinations. In pristine condition, this business strike coin can be worth a lot. One sold for $192,000 in 2019.
1922 Peace Dollar Low Relief Matte Proof
While the high-relief matte proof for the 1922 Peace dollar is the most valuable, the low-relief version of this coin can also be worth a lot — especially in good condition. The design isn't stamped as boldy, but the delicate tendrils of Liberty's hair still show clearly. This version is extremely rare with only a few known examples. One sold for $192,000 in 2023.
1921 Peace Dollar Satin Proof
The 1921 Peace dollar proof came in satin and matte finish, and only around two dozen of the satin finish are known to exist. This makes this one of the rarest Peace dollars. The proof is extremely detailed and offers a quality not usually seen in business strike coins. One example sold for $150,000 in 2023.
1925-S Peace Dollar
One of the rarest Peace dollars to find in gem condition, the 1925 Peace dollar from the San Francisco Mint sells for top dollar when it hasn't been circulated. Considered a key date for collectors of this series, the 1925-S fetched $132,000 at auction in 2022.
1923-D Peace Dollar
In the early 1920s, the 1923 Peace dollar from the Denver Mint was considered almost unobtainable. Collectors speculate that this issue was kept in bags at the Mint for several years and only released later in large enough quantities to collect. Many of those that were stored have bag marks, so finding one in good condition is very rare. A 1923-D Peace dollar without bag markings sold for $120,000 in 2021.
The Peace dollar was reissued as a proof in 2021 to celebrate the 100th anniversary of its initial release. 2023 also saw proof Peace dollars, so it's possible to find modern issues of this coin.
Other Valuable Peace Dollars
Although these record auction prices reveal some of the Peace silver dollar values that can make headlines, they're not the only examples of this coin you want to watch for. If you have a coin collection or have inherited some silver dollars, look for these other high-value coins in the series.
- 1928-P Peace dollar - Although it's not officially rare, the 1928 Peace dollar from the Philadelphia Mint is hard to find and valuable. It sells for $200 and up, even in rough condition, and examples in uncirculated condition can sell for more than $30,000.
- 1924-S Peace dollar - The 1924 Peace dollar from the San Francisco Mint isn't rare, but it's very hard to find in good condition. It sells for about $34 in rough shape, but coins in gem or uncirculated condition can sell for $40,000 or more.
- 1934-S Peace dollar - Like the 1924 version, the 1934-S is also very hard to find in gem or uncirculated condition. This coin is worth a minimum of $40, but in uncirculated, pristine shape, it can sell for $100,000 or more.
The Denver Mint struck 316,076 Peace silver dollars in 1964, but all the coins were supposed to be destroyed before they entered circulation. Collectors speculate that a few may have survived, but they could be confiscated if they were bought or sold. If they ever enter the collecting market, the 1964-D Peace dollars will be some of the most valuable coins ever.
Factors Affecting Peace Dollar Values
Because of the precious metal in the coins, Peace silver dollar values almost never drop below $30 for examples in any kind of condition. However, there are some factors that can make them worth way more. Grab your magnifying glass and look for coins with these characteristics.
- Uncirculated condition - Uncirculated coins will be worth the most. Look for any Peace dollar with no signs of wear.
- Rare years - If fewer of the coins were minted in that year or from that mint, you could be looking at a treasure. 1928-P, 1924-S, and 1934-S, plus 1921 and 1922, are among the most valuable years to collect.
- Variations - In 1921 and 1922, there were lots of variations made. Look for different combinations of high relief, low relief, matte, and satin finishes.
- Proof coins - Proofs tend to be more valuable than business strikes. Look for crisp details and deeper strikes that represent this special type of coin.
An Iconic Coin Representing Peace
The Peace dollar's value is more than just monetary (although these silver dollars are always worth more than a dollar). This iconic coin represents a time in American history when the country wanted to celebrate peace after World War I. Even though that peace didn't last, the coin and its ideals did.
