The Peace Silver Dollar was designed by sculptor Anthony de Francisci, with Miss Liberty modeled after his wife, Teresa. The design was changed from the Morgan Dollar in 1921 as the public wanted both a change and a coin to celebrate the end of World War I.
The Peace Dollars were struck only at the Philadelphia Mint in 1921, and then at Philadelphia, Denver, and San Francisco in 1922 and 1923. Coins were then struck at the Philadelphia and San Francisco Mints in 1924 and 1925; coins were again struck at all three mints in 1926 and 1927. In 1928, the only coins struck were a very small number in Philadelphia and four times as many coins were struck in San Francisco.
No Peace Dollars were struck between 1929 and 1933. In 1934, coins were struck for the last time at all three mints and in 1935 coins were struck in Philadelphia and in San Francisco. No further Peace Dollar coins were struck after 1935.
For more on this topic, read more from APMEX about the history of Peace Dollars.
Key Dates and Varieties
The Peace Dollar series, just as the Morgan Dollar series, has many VAM varieties which are collectible, but many of them are not considered major varieties. And are missing from many collections.
1921 Peace Dollar, High Relief
While all 1921 Peace Silver Dollars are considered as being struck in high relief, only some of the NGC and PCGS certified coins are labeled as “HIGH RELIEF.” The relief for the dies for 1922 and later-dated coins was lowered for 1922 and subsequent years. This improved the stackability of the coins for commerce and banking.
1922 High Relief
Before the dies for the 1922-dated coins had their relief lowered, 35,401 coins were struck using the higher relief dies. The Mint struck both Proof coins and Business Strike examples. However, most of the 35,402 coins were melted as the Mint wanted all 1922-dated coins to have normal relief. Today only 10-12 Matte Proof 1922 High Relief coins have surfaced and only one single High Relief business strike is known.
1924-S Peace Dollar
With only 1,728,000 struck, this coin is scarce in all grades above Choice BU. For example, an MS-65 coin is around $5,500 as compared to $100 for a common date in the same grade. This coin is underrated as a rarity.
1925-S Peace Dollar
The San Francisco Mint only struck 1,610,000 1925-S Peace Dollars. Due to the limited quantities, this coin is prohibitively rare in MS-65 – around $70,000!
1927 Peace Dollar
The Philadelphia Mint only struck 848,000 coins in 1927. This is definitely a better date, especially in higher grades.
1927-D Peace Dollar
The 1927-D Peace Dollar is an interesting coin. With 1,268,900 coins struck, collectors often wonder why it is much more expensive than the 1927-P coin with 400,000 fewer coins struck. Many 1927-D coins were not released into circulation. It is more expensive in About Uncirculated and higher condition.
1928 Peace Dollar
With a scant 360,649 struck, it is the undisputed lowest mintage Peace Dollar. It is scarce in all grades.
1934 Peace Dollar
This was the last Peace Dollar struck at under 1,000,000 coins. There were only 954,057 struck. Price jumps begin at Mint State-60 and in all higher Uncirculated grades.
1934-D Peace Double Die Obverse
This was one of the last dates/mints struck, The Doubled Die on the obverse. The date is doubled and the mintmark on the reverse comes in both Large D and Small D varieties. The Small D is scarcer.
The last few Peace Dollars struck all had less than 2 million coins struck, regardless of where they were minted. This includes the 1934-D, 1934-S, 1935 and 1935-S dated and mintmarked coins from this very popular series.
Value
| Date MM | Mintage | Very Fine | Abt Unc | Ch Unc |
| 1921 High Relief | 1,006,473 | $225 | $400 | $1,100 |
| 1922 High Relief | 35,401 | — | — | $250,000 |
| 1924-S | 1,728,000 | $60 | $150 | $725 |
| 1925-S | 1,610,000 | $60 | $125 | $400 |
| 1927 | 848,000 | $60 | $100 | $325 |
| 1927-D | 1,268,900 | $70 | $300 | $850 |
| 1928 | 360,649 | $275 | $500 | $900 |
| 1934 | 954,057 | $50 | $140 | $325 |
| 1934 Dbl Die Obv | Unknown | $100 | $200 | $450 |
| Common Dates | Unknown | $40 | $60 | $75 |
