What is the value of a Peace Dollar silver coin today?
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Peace Dollar price history
Intrinsic value based on the silver price
How much does a Peace Dollar silver coin weigh?
The Peace Dollar coin has a total weight of 26.7300 grams. This weight includes the coin's complete alloy.
Taking its purity of 900‰ (90.0%) into account, this coin contains exactly 24.0570 grams of pure silver.
What is the purity of a Peace Dollar silver coin?
The Peace Dollar coin has a purity of 900 thousandths, i.e. 90.0% fine silver.
This purity is characteristic of coins struck in United States between 1921 - 1935. The rest of the alloy (10.0%) is generally composed of copper to strengthen the coin's durability.
Obverse
Designed by sculptor Anthony de Francisci, the obverse features a modern and idealistic profile of Lady Liberty crowned with rays, influenced by the Art Deco style of the 1920s. The engraver's initials AF appear below the neck.
Composition and legends
Inscriptions: LIBERTY at the top of the field and the motto IN GOD WE TRUST to the left of the profile.
Mintage year: The strike date is positioned at the bottom of the obverse.
Historical anecdote: The model for the portrait is Teresa Cafarelli de Francisci, the artist's wife.
Reverse
The reverse depicts a resting American eagle perched on a rock, holding an olive branch. The word PEACE engraved beneath the eagle seals the coin's pacifist message in the aftermath of World War I.
Inscriptions and mint characteristics
Legends: UNITED STATES OF AMERICA at the top, E PLURIBUS UNUM in the center and the face value ONE DOLLAR at the bottom.
Mint mark: Positioned to the left of the eagle's tail (D for Denver, S for San Francisco, no letter for Philadelphia).
Exception variant (1921): Struck in high relief (High Relief), this first issue was quickly modified to facilitate industrial striking, making it the most sought-after date.
Created in 1921 to celebrate the end of the First World War, the Peace Dollar succeeded the Morgan Dollar. Designed by Anthony de Francisci, it was struck regularly from 1921 to 1928, then from 1934 to 1935 before its definitive discontinuation.
Technical specifications
Composition: Silver at 900 ‰ (90% silver, 10% copper).
Silver content: 0.7734 troy oz of pure silver (24.057 g) for a total weight of 26.73 g (38.1 mm).
Status: Retains legal tender status in the United States, although its market value is significantly higher than its face value ($1).
Price trends and value
The coin's value is determined by both the silver spot price and its numismatic premium:
Common coins (F to VF): Price indexed to silver (8–12 € in the early 2000s, rising to 25–35 € at the 2011 peak, then stabilising between 25 € and 40 €).
Rare dates (1921 High Relief, 1928-S, 1934-S, 1935-S): The numismatic premium far outweighs the metal value, reaching several hundred to thousands of euros for high grades (MS63+).
Why invest in the Peace Dollar?
This coin offers a unique compromise between tangible metal value (0.77 troy oz) and collecting potential.
Strengths and points to watch
Buying strategy: Target common dates close to the spot price for pure exposure to silver metal.
Liquidity: Very high on the American market, more specialised but fluid in Europe.
Condition: The price difference between a Good grade and an MS63 grade is considerable for key dates.
Authentication: Require certified slabs (PCGS/NGC) to avoid counterfeits on rare dates.
Frequently asked questions
Why was the Peace Dollar created and what does it symbolize?
The Peace Dollar was put into circulation at the end of 1921 to celebrate the peace restored after World War I and to mark the ratification of the peace treaties with Germany and Austria.
Designed by sculptor Anthony de Francisci, its reverse depicts an American eagle at rest holding an olive branch on a rock engraved with the word "PEACE". It is the only American circulation coin to explicitly bear the word "Peace".
What is the distinctive feature of the original 1921 edition of the Peace Dollar?
The very first Peace Dollars struck in December 1921 were produced with an exceptional High Relief to bring out the details of Liberty's face and the eagle.
However, due to the overly pronounced relief, the coins stacked very poorly and prematurely broke the die pairs in the US Mint's presses.
From 1922 onwards, the design was flattened to a standard relief. The original 1921 examples are therefore particularly rare and highly sought after in good condition.
In what way does the Peace Dollar distinguish itself from the Morgan Dollar that preceded it?
The Peace Dollar replaced the mythical Morgan Dollar (struck from 1878 to 1904, then briefly in 1921). Although both coins share the same monetary characteristics (900 ‰ silver alloy and the same face value of 1 Dollar), the Peace Dollar moves away from the Victorian aesthetic of the 19th century to adopt a resolutely Art Deco style, embodied by the radiant crown of Liberty.
What is the behavior of the Peace Dollar on the physical silver market?
The Peace Dollar is a great classic of high-end junk silver. Its imposing size and fine silver content make it an excellent physical investment vehicle.
Unlike half-dollar coins (such as the Franklin or the Kennedy), the Peace Dollar very often trades with a slight aesthetic and historical premium, as its minting period was short (1921-1928 then 1934-1935) and its aesthetics make it a highly prized collectible in the United States as well as in Europe.
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