The American Silver Peace Dollar: A Collector’s Guide to a Historic Coin
Introduction to the Peace Dollar
The American Silver Peace Dollar is one of the most iconic and beloved coins in U.S. history. Minted from 1921 to 1935, and briefly revived in 2021, this silver dollar symbolizes the nation's desire for peace following World War I. For coin collectors, historians, and investors, the Peace Dollar holds significant value — both financially and culturally.
In this guide, we’ll explore the history, design, value, and collectibility of the Peace Dollar, while also offering tips for collectors and investors looking to add this stunning silver coin to their collection.
Table of Contents
History of the American Silver Peace Dollar
A Coin Born from Peace
The Peace Dollar was authorized in 1921 to commemorate the end of World War I, making it a significant departure from previous coinage designs focused more on liberty and less on post-war sentiment. The U.S. Mint desired a new silver dollar that would represent the peace America longed for after years of global conflict.
Minting Timeline
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First year issued: 1921
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Last original year: 1935
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Reissue: A 2021 Peace Dollar was released to celebrate the coin's 100th anniversary.
The first Peace Dollars were minted in high relief in 1921, making them particularly sought after by collectors. Due to production difficulties, the relief was lowered in 1922 and remained that way until the final minting in 1935.
Design and Symbolism of the Peace Dollar
Obverse: Lady Liberty
The front (obverse) of the coin features a striking image of Lady Liberty, modeled after Teresa de Francisci, the wife of designer Anthony de Francisci. Liberty’s flowing hair and radiant crown evoke the Statue of Liberty, symbolizing strength and freedom.
Inscriptions:
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"LIBERTY"
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"IN GOD WE TRUST"
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The year of minting
Reverse: Bald Eagle and Olive Branch
The reverse side displays a bald eagle perched on a rock, clutching an olive branch — a universal symbol of peace. Rays of the sun extend behind the eagle, reinforcing the themes of hope and renewal.
Inscriptions:
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"UNITED STATES OF AMERICA"
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"E PLURIBUS UNUM"
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"ONE DOLLAR"
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"PEACE"
Mint Locations and Key Dates
Mint Marks
The Peace Dollar was minted at three U.S. Mint facilities:
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Philadelphia (no mint mark)
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Denver (D)
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San Francisco (S)
Key Dates for Collectors
Some dates and mint mark combinations are rarer and more valuable:
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1921 (High Relief) – Philadelphia only; first-year issue
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1928 – Philadelphia; lowest mintage of the series
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1934-S – Known for low survival in high grades
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1935 – Final original year of the series
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2021 – 100th anniversary reissue
Each of these coins can carry a premium depending on its condition and rarity.
Peace Dollar vs. Morgan Dollar
Before the Peace Dollar, the Morgan Silver Dollar dominated U.S. coinage (1878–1904, 1921). Though both are 90% silver coins, they have distinct differences:
| Feature | Morgan Dollar | Peace Dollar |
|---|---|---|
| Minted Years | 1878–1904, 1921 | 1921–1935, 2021 |
| Design Style | Classic & Victorian | Modern & Symbolic |
| Designer | George T. Morgan | Anthony de Francisci |
| Weight | 26.73 grams | 26.73 grams |
| Silver Content | 0.77344 troy ounces | 0.77344 troy ounces |
Collectors often seek both series, but the Peace Dollar is especially revered for its message and post-war symbolism.
Peace Dollar Value and Investment Potential
What is a Peace Dollar Worth?
The value of a Peace Dollar depends on several factors:
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Date and mint mark
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Condition or grade (e.g., MS-65 vs. VF-20)
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Rarity
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Market demand
As of mid-2025, common-date Peace Dollars in circulated condition sell for $25 to $45, while uncirculated or high-grade coins can fetch hundreds or even thousands of dollars.
Investment Considerations
Investing in Peace Dollars can be rewarding, especially for:
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Tangible asset diversification
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Hedging against inflation
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Historical significance appreciation
Buying certified coins from reputable grading services (like PCGS or NGC) helps maintain value and ensures authenticity.
How to Identify a Genuine Peace Dollar
With counterfeits in circulation, it's important to verify authenticity.
Tips to Spot Fakes:
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Weight: Should be 26.73 grams
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Diameter: 38.1 mm
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Magnet Test: Real silver is non-magnetic
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Edge: Should have reeded (grooved) edges
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Ring Test: Silver coins have a high-pitched ring when tapped
For high-value coins, always use professional grading or get a second opinion from a reputable coin dealer.
Tips for Collectors and Investors
Where to Buy Peace Dollars
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Reputable coin dealers
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Online auction platforms like eBay (with caution)
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Coin shows and expos
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U.S. Mint (for modern reissues)
Storage and Preservation
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Avoid touching the surface of the coin
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Store in airtight holders or graded slabs
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Use a dehumidified safe to prevent tarnishing
Collecting Strategies
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Date and Mint Mark Sets: One of each date and mint combo
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High-Grade Only: Focus on MS-63 and above
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Varieties: Look for errors and rare die varieties
Coin collecting is as much about passion as it is about investment. Know your goals — whether financial, historical, or personal.
Conclusion: Why the Peace Dollar Still Matters
The American Silver Peace Dollar isn’t just a coin — it’s a piece of American history. Born from the desire for peace after a devastating war, this coin represents hope, liberty, and resilience. With its elegant design, historical importance, and rising collectible value, the Peace Dollar remains a must-have for numismatists and investors alike.
Whether you're just starting your coin collection or are looking to expand it with historical silver coins, the Peace Dollar is a rewarding and beautiful addition.
Frequently Asked Questions (FAQ)
Q: How much silver is in a Peace Dollar?
A: Each coin contains 0.77344 troy ounces of 90% silver.
Q: What is the most valuable Peace Dollar?
A: The 1928 Philadelphia issue is often the most valuable due to its low mintage.
Q: Is the 2021 Peace Dollar made of real silver?
A: Yes, the 2021 version is made of .999 fine silver and struck in high quality.
Q: Should I clean my Peace Dollar?
A: No. Cleaning a coin can significantly reduce its value. Always consult a professional before altering a coin.
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