The Most Valuable Peace Silver Dollars
1921 (Philadelphia Mint)
To comply with the Pittman Act of 1918, the U.S. Treasury Department authorized the striking of millions of silver dollars in 1921 using the old Morgan Dollar design. Artists at the United States Mint needed additional time to finish the design of the new Peace silver dollar. Sculptor Anthony de Francisci created the Peace silver dollar design in high relief.
The new design caused the highest points of the design on the coin to be weakly struck and lacking in detail. Between the Philadelphia, Denver, and San Francisco Mint, a total of over 68 million Morgan silver dollars were struck in 1921 while only slightly more than one million Peace silver dollars were made. In 1922, de Francisci lowered the relief to correct the problems with striking the coins properly. Therefore, the 1921 Peace silver dollar is a one-year design type coin.
Also, proximately 35,000 high relief 1922 peace dollars were also minted. However, because the coins were difficult to make with their high relief, production quickly halted. A few of these coins were sent to mint headquarters in Washington DC. The rest of them were supposedly destroyed. However, a few of them slipped out into general circulation. Be on the lookout for these highly valuable high-relief peace dollars.
The 1922 Peace dollars have value as both numismatic coins and as silver bullion. Keep reading to learn more about these silver coins.
Type: Peace Dollar
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .77344 oz.
Total Weight: 26.73 grams
Current Silver Bullion Value: $18.82
The US minted the 1922 silver dollar with no mint mark and also the 1922 D silver dollar and 1922 S silver dollar. The mint mark, when present, can be found on the reverse side of the coin, below the word "ONE".
The 1922 silver dollar with no mint mark has two different varieties. There is the high relief variety and the normal relief variety. Originally these Peace dollars were struck in high relief, which means that the images stand out more and they are more detailed. There were 35,401 high relief silver dollars minted in 1922, and most of them were melted down. The ones that survived are very valuable. During 1922 the design changed to normal relief.
|1922 Normal Relief||Philadelphia||51,737,000|
|1922 High Relief||Philadelphia||35,401|
|1922 S||San Francisco||17,475,000|
This coin in circulated condition is worth at least its weight in silver. The silver melt value for this coin is $18.82 as of October 23, 2021. This melt value is calculated from the current silver spot price of $24.33 per ounce.
The normal relief 1922 silver dollar with no mint mark is worth around $25 in very fine condition. In extremely fine condition the value is around $27. In uncirculated condition the price is around $30 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $110.
The high relief 1922 silver dollar with no mint mark is very rare. Matte Finish proof coins will each sell for around $200,000 with a PR 65 grade.
The 1922 D silver dollar is worth around $28 in very fine condition. In extremely fine condition the value is around $30. In uncirculated condition the price is around $80 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $500.
Lastly the 1922 S silver dollar is worth around $28 in very fine condition. In extremely fine condition the value is around $30. In uncirculated condition the price is around $55 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 65 can sell for around $1,250.
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Very fine- Liberty's hair looks quite worn. A few strands of hair around the ear are well defined. A portion of the eagle feathers on top and on the right wing's outside edge are visible.
Extremely fine- The hair lines over Liberty's brow and ear are strong, although slightly worn. Each of the eagle feathers on top and on the right wing's outside edge are visible but faint.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 65 gem uncirculated- There is strong luster and eye appeal. A few light contact marks may be present but they are barely noticeable.
The Red Book
1923 Silver Dollar
1921 Peace Dollar
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As you have probably known, 1922 Peace dollars are beautiful, and many people want to have at least one piece in their collections. Surprisingly, these coins have low value, primarily because they are not rarities.
In fact, 84,275,000 coins produced that year, making the Peace dollar mintage the highest in American history. Therefore, most of them are affordable, except for a few unique pieces. Let’s see how much is a 1922 silver dollar worth these days.
The 1922 Peace Dollar Production
Almost 45% of Peace Silver Dollars ever minted were produced in 1922. Among 109,577,279 coins made during fifteen years, from 1921 to 1935, as many as 84,275,000 were minted that year.
In the 60s, most of them were melted. However, their number is still huge. According to professional estimation, over 15 million of them still exist, including approximately:
- 10 million 1922 with no mintmark of 51,737,000 minted in Philadelphia
- 3 million 1922-D of 15,063,000 minted in Denver
- 2 million 1922-S of 17,475,000 minted in San Francisco
The question is why the US Mint made so many Peace Dollars in 1922. The reason was a World War I silver law. The government got permission to melt 270 million silver dollars in 1918 through Pittman Act, but the requested condition was to replace these dollars after the war.
Minting started in 1921 with 86 million Morgan dollars, and the silver dollars’ production continued with over 84 million 1922 Peace dollars in 1922 and 56 million in 1923.
No D 1922-D Lincoln cent
The only small coin minted in 1922 was a famous rare Lincoln cent from the Denver Mint. They needed to polish the original dies to continue production until wearing out and the D mintmark entirely polished away.
They were forced to keep producing Lincoln cents with such dies, and the result was No D 1922-D Lincoln cent.
1922 Peace Dollar Condition
Preserving coins in top-notch condition can bring decent earnings to collectors. Strong strike with exceptionally full details makes some of the 1922 Peace Silver Dollars highly valued.
For instance, one 1922 D Peace Silver Dollar in decent condition is worth about $20, but one scuff-free piece in perfect condition reached $690 in a David Lawrence rare coin auction.
The first step before selling your 1922 Peace Silver Dollar is to get it evaluated. Experts use the PR scale for regular coins, and it ranges from 1 to 70. The condition scale includes:
- Poor (P – 1), Fair (FR – 2), and About Good (AG – 3) – These coins are usually smoot and worthless without visible details.
- Good (G-4) – Such a coin was in use for a long, and you can notice heavy wear and lack of fine detail. Therefore, it is not collectible, and its value will remain low. Nowadays, it is in demand as a bullion silver coin.
- Very good (VG-8) – Such a coin is heavily worn out but with visible details.
- Fine (F-12) – Wear and tear are evident, but details within Liberty’s hair are visible, with separated major strands.
- Very fine (VF-20) – Liberty’s hair is worn out but with a few well-defined hair strands. Parts of the eagle feathers are also visible.
- Extremely fine (EF-40) – The hair lines are slightly worn but strong, while eagle’s feathers are visible although a bit faint.
- MS 60 uncirculated (MS-60) – This coin is shiny and without signs of wear, but you can notice a few marks, stains, and abrasions on the surface.
- MS 65 gem uncirculated (MS-65) – Coin of such a quality is appealing and with strong luster and barely noticeable contact marks.
- Perfect (MS-70) – It is an entirely flawless coin under a magnification of 8x on a microscopic scale. It is a precious collectible piece.
- Proof (PR – 65) – Experts use the PR scale for proof coins, and it ranges from 1 to 70 like the MS scale. Proof coins with mirror-like surfaces are longer struck under high pressure. They are highly collectible, worth a lot of money, and you can find them only in cases or sets.
Keep in mind that there is no significant difference in the price of two coins of adjacent gradation. However, it can change over time, so it is always better to have a better-graded piece.
1922 Silver Dollar Value
Most people believe that 1922 Silver Dollars are worth nothing since there are too many of them. On the contrary, it is actually worth more than its face value. The reason is 90% of silver it contains. However, the exact price will depend on the coin type you have.
You should know that the 1922 Silver Dollar value is based on silver bullion worth $17 per troy ounce. Its price will vary depending on the coins’ condition, variety, and existing errors.
1922 Peace Silver Dollar Value
|Coin type||Coin condition|
The US Mint began devising the new Peace design for silver dollars to commemorate peace after WWI. The chosen designer Anthony de Francisci used the high relief method initially, but such design caused many dies to break under the increased stress.
Therefore, the US Mint changed this idea, and coins produced from 13th February 1922 to 1935 are made in low relief.
As a result of massive production, these coins don’t worth much. Their price is usually from $18 to $50, except for a few unique pieces. For example, it is known that mints produced only 35,401 high relief Peace Dollars in 1922. All of them were melted except one, which value is estimated to $137,776.
Additionally, only 11 of a couple of dozen high-relief matte proof 1922 Peace Dollars made in January and February that year survived. There are indications that a few more were discovered recently, but it is still not confirmed.
The estimated price of each piece is probably over $100,000. Believe it or not, one of them was recently sold at auction for $329,000.
Coin Value by USA Coin Book
|Coin condition||1922 Peace Silver Dollar (normal relief)||1922 Peace Silver Dollar (high relief)||1922 D Peace Silver Dollar||1922 S Peace Silver Dollar|
1922 Peace Silver Dollar (normal relief)
It is an early silver dollar with a normal relief design minted in Philadelphia without a mintmark. It weighs 26.73 g (0.8593 troy ounces), has 38.1 mm in diameter, and contains 90% silver and 10% copper.
After Anthony de Francisci designed it, 51,737,000 pieces were minted in 1922. The value of the coin in decent condition is approximately $20 to $30. However, it is still a value above the silver melt price.
A coin in uncirculated (MS+) mint condition is more expensive and reaches $52 to $174. Finally, a rare proof coin is worth more than $82,000.
1922 Peace Silver Dollar (high relief)
It is an early silver dollar with a high relief design minted in Philadelphia without mintmark. It weighs 26.73 g (0.8593 troy ounces), has 38.1 mm in diameter, and contains 90% silver and 10% copper.
After Anthony de Francisci designed it, 35,401 pieces were minted in 1922. According to USA Coin Book, the only 11 remaining proof coins are worth $137,776 each. It is known that there is one non-proof business strike coin minted in this design.
1922 D Peace Silver Dollar
It is an early silver dollar minted in Denver. It weighs 26.73 g (0.8593 troy ounces), has 38.1 mm in diameter, and contains 90% silver and 10% copper.
After Anthony de Francisci designed it, 15,063,000 pieces were minted in 1922. The value of the coin in decent condition is approximately $20 to $30. Most of these coins are of low quality since people often used them in Nevada casinos.
According to USA Coin Book, a piece in uncirculated (MS 65) mint condition reaches $650. The finest-known coin is worth $90,000.
1922 S Peace Silver Dollar
It is an early silver dollar minted in San Francisco. It weighs 26.73 g (0.8593 troy ounces), has 38.1 mm in diameter, and contains 90% silver and 10% copper.
After Anthony de Francisci designed it, 17,475,000 pieces were minted in 1922. The value of the coin in decent condition is approximately $20 to $30.
According to USA Coin Book, a piece in uncirculated (MS 65) mint condition reaches $2,591. The finest-known coin is worth $41,125.
Peace silver dollars replaced Morgan silver dollars and were minted from 1921 to 1935. Although many of these coins have been preserved to this day, some are rare and worth a small fortune.
The legend says that Anthony de Francisci designed the new coin inspired by his wife, Teresa, but the rays on Miss Liberty’s head are similar to those on the Statue of Liberty. On the other side is an American eagle as a symbol of the American dream.
1922 Peace Silver Dollar Value
Coin Values Moving with Precious Metals: Up-Dated 10/18/2021: Gold $1762 | Silver $23.15
Your 1922 Peace silver dollar value, currently worth a minimum of $17.81 today, is well above its silver melt price.
Recognizing your coin is "uncirculated" in condition, versus one with wear to the surface, is important to an accurate appraisal of even higher value.
Pictured is a 1922 Peace dollar that never entered circulation, displaying undisturbed, as minted luster. As reflected on the chart "uncirculated" condition defines a major breakaway point in price. To help judge this difference, see the grading images below. Also a very rare Gem condition Denver minted Peace dollar is highlighted, with an amazing price.
An opportunity for you. Premiums in price of silver dollars above their underlining silver value have over time been rising. An expanding spread is a reflection of both their popularity as a collectible and as a popular way to own silver. 1922 Peace dollars, large and heavy with silver, are prized by collectors and also bullion investors, keeping values strong.
Mintmarks on 1922 Peace dollars become a factor in value if your coin is in uncirculated condition. Three mints produced silver dollars that year, Philadelphia, Denver and the San Francisco mint. Mintmarks used to distinguish the mints were place on the reverse. Denver used a "D" mintmark, San Francisco an "S." Philadelphia, the main mint did not use a mintmark.
|1922 Peace Silver Dollar Value|
|Condition of Coin|
Special Condition and 1922 Peace Dollar Value
Preserving coins in top condition has provided collectors with some really outstanding gem specimens. Holding your coin only by the edges, protecting from both damage and the elements really pays off.
Pictured is a stunning example of fortunate circumstances and intentional careful preservation. Quickly recognized as having exceptionally full details because of a strong strike, this 1922-D Peace dollar is highly valued today in thanks to thoughtful care.
Placed in a David Lawrence rare coin auction, it reached $690 as the high bid. A combination of superior luster, bold details and scuff free surfaces attracted discerning silver dollars collectors.
Handling your coins gently, separating and storing individually the high condition examples, is a big step in maintaining value.
Visual 1922 Peace Silver Dollar Value
Currently there is little difference in value from one circulated "grade" 1922 Peace dollar to the next. However if you are intending on keeping all or just one it is important to identify a better condition coin as the one to save for the future.
Uncirculated: Absent of wear defines the "uncirculated" condition. Looking closely at your coin, mint luster is a fragile element to a coin's surface, it's what gives a coin brilliance. Because of its delicate nature it is the first to show signs of wear. Rotating your coin under a light, luster should remain unbroken from rim to rim. A dulling of the silver color on Liberty's cheek and neck is a good indication of wear.
Extremely Fine: As a Peace dollar begins to show light amounts of wear collectors grade the condition as "extremely fine." The hair trailing behind Miss Liberty's neck is one of the high points of the design, wear begins here quickly and creates a flattening appearance of the curls. Hair directly above the eye is another place to examine, a small flat spot is acceptable for the grade.
Fine: Wear has smoothed and reduced metal over all parts of design. If not to severe your coin is in "fine" condition. Detail within the hair is still visible, major strands are still separated, although the finer strands have merged. Liberty's cheek and neck now displays a few areas of flatness. Stepping back the impression is a coin with moderate wear but pleasing.
Good: With noticeable heavy wear and complete lack of fine detail this coin is now considered as "good" condition. What was once bold lettering, hair strands and rays are now quite shallow in relief. 1922 Peace silver dollar value of coins with heavy wear are unfortunately destined to remain low in demand as a collectible. Enough high condition examples are available to fulfill collector's needs. They are however very popular as a bullion silver coin, and currently in demand.
Coin Values | CoinStudy Articles
Date by Date
In Depth Peace Silver Dollar Value
1921 to 1935
Peace Dollar Values | Strong Collector and Silver Bullion Demand
Values of your Peace silver dollars are influenced by both an active collector market and as a silver bullion coin. Determine from the chart, all the dates and mints highly valued by collectors, and current bullion value of the ones moving with the silver market.
Silver Dollars Values | Importance of Condition
Current minimum silver dollar values are $17.81 for any Peace dollar and $21.12 per Morgan dollar. Older Seated Liberty series are very scarce and worth hundreds. Value charts cover these and all dates and mints.
★Coin Values Discovery finds... 1922 Peace Silver Dollar Value and...
Visit the index page to coin values of all series, from Pennies to Gold coins. Value charts, combined with grading images and descriptions help you separate the common from rare. Discover what is in your box of old coins.
Minimum Silver Value | A Good Place to Start
Many of your old US silver coin values are tied closely to the price of silver. Pre 1965 silver dimes, quarters, half dollars and silver dollars are all heavy with 90% silver and worth many times their face value. With today's high value of silver; $23.15 per ounce as of 10/18/2021 your old Peace dollars are becoming surprisingly valuable. Today's Minimum Silver Coin Values
Errors peace dollar 1922 d
1922 Peace Dollars : High Relief
Minted at: Philadelphia (No Mint Mark)
Designer - Engraver: Anthony de Francisci
Metal Composition: 90% Silver - 10% Copper
Diameter: 38.1 mm
Mass / Weight: 26.73 grams
What This Coin Looks Like (Obverse, Reverse, Mint Mark Location, Special Features, etc.):
One extremely rare and valuable variety is the 1922 High Relief Peace Dollar. Most 1922 Peace dollars are Normal Relief. So their features are not as sharp and they don't stand out as much. In the previous year - All 1921 Peace Dollars were High Relief. The US Mint found that this original high relief design produced a higher quality and more beautiful coin but it caused more wear and tear on the dies that produce the coins - which had to be replaced often. So early in 1922: The US Mint decided it was more practical to produce dies that resulted in a coin design with lower relief and lower quality for general circulation.
The US Mint originally produced 35401 of these 1922 High Relief coins (mostly non-proof business strikes intended for general circulation) before going to a Normal relief design. Nearly all of these high relief coins were melted down a short time later by the US Mint. Only about 10 to 12 High Relief 1922 Proof (Matte Proof) Peace Dollars are estimated to exist. One stray non-proof business strike coin also exists!
Depicted above is a 1922 High Relief Matte Proof Peace Dollar while the image below depicts a 1922 Normal Relief Matte Proof Peace Dollar. Both varieties are exceptionally valuable - but the High Relief version is the crown jewel (Sources of example images are courtesy of Heritage Auction Galleries):
It is quite easy to identify the differences between the high relief and low relief coins. Both the obverse (front) and reverse (back) of the coin have differences. On the obverse of the coin: The numbers in the date and letters appear thicker on the high relief variety - even the spikes coming off the liberty crown are noticeably thicker. Although on the normal relief variety the spikes are longer and thinner with one small extra spike between the two left-most spikes. These features are depicted by the arrows in the example image below (Notice how much longer and thinner the spikes are near the letter "E" in the word "LIBERTY" on the Normal Relief variety vs the shorter spikes on the High Relief variety):
On the reverse of the coin: The high relief version also features thicker letters. The letters are much clearer on the high relief variety whereas the letters on the reverse lower relief coin appear blurry (especially in the word "PEACE" at the base of the coin). The portrait of the eagle and the rays are also vastly more detailed than the lower relief variety. The rays are also longer on the high relief version and there are two extra rays near the rock where the eagle is perched (depicted by the arrows). Two rays clearly appear within the middle of the letter "O" in the word "DOLLAR" on the high relief version - whereas on the low relief variety there is only one ray "clearly" seen through the middle of the "O". The differences are depicted below in the example comparison image of the reverse of the coins:
USA Coin Book Estimated Value of 1922 Peace Silver Dollar (High Relief Variety) (Proof Coin) is Worth $137,775 or more. Click here to Learn How to use Coin Price Charts. Also, click here to Learn About Grading Coins. The Melt Value shown below is how Valuable the Coin's Metal is Worth (bare minimum value of coin). Click here to see the Melt Value of every US Coin.
MELT VALUE: $18.91
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Value of 1922-D Peace Silver Dollar
Value of 1922 Denver Mint Peace Silver Dollar
The Denver Mint’s excellent facilities and its close proximity to newly mined silver contributed to the production of well-struck 1922-D Peace silver dollars of exceptional quality. The Mint’s technique utilized a higher striking pressure that led to a short die life and cracked dies, in some cases, resulting in concentric lines or marks on the obverse. However, die crack impressions should not deter you from obtaining one if desired. Some collectors seek these examples out, while others consider the marked coins as flawed and avoid them. Numerous coins are available that are very well struck and highly detailed. Bags of 1,000 Uncirculated 1922-D Peace dollars were released in the 1940s and early 1950s, with a hoard of 50 bags marketed in the late 1980s and early 1990s. The hoarded coins contain examples that are bagmarked but are well struck. That quantity alone gives you a good idea of just how many 1922-D $1 silver coins are out there.
Circulated 1922-D Silver Dollars Are Just Silver: Readily available in EF and AU though examples in those grades often sell for bullion value in today’s marketplace. Not many collectors care to own a circulated 1922-D Peace dollar.
Thanks To Hoards, Even MS 1922-D Peace Dollars Are Available Cheaply: This prolific date is available in MS-60 and finer grades, though most collectors consider the MS-60 through MS-62 pieces somewhat on a par with circulated examples of the date. Anyone can afford a MS-63 or 64 specimen, and most can afford MS-65 or even MS-66 for this issue. Look for great luster and a bold strike and be ready to buy an example when you find one with these attributes.
The obverse text on the Peace Dollar reads “Liberty; In God We Trvst (Trust); 1922.” The reverse text on the silver dollar reads “United States of America; E Pluribus Unum; One Dollar; Peace; D.” The obverse of the coin has a bust of a female facing the left with a pointed crown and flowing hair. The reverse of the Peace Dollar has an eagle sitting on a rock in the center with rays in the background.
The Peace Dollar series is very popular among collectors. If you have a Peace Dollar that you would like to sell, please contact our experts at Coinappraiser.com and they would be happy to assist you. We run rare coin auctions. If you keep asking yourself: “What is my coin worth” then we invite you to use our online coin price guide. Contact us today to sell your coin!
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