Your Guide to the Peace Dollar
Have you ever held a piece of American history in your hand?
Of the many American-related monetary assets, the Peace Dollar is a tangible connection to one of America’s most transformative periods. With its Liberty portrait and the symbolic eagle, this unique silver dollar tells the story of a nation emerging from war into a new era of optimism.
At Samuelson’s Diamonds, we’re always looking for ways to help collectors and investors learn more about some of the most popular (and less well-known) assets in the world of numismatics.
Whether you’re considering adding Peace Dollars to your collection or wondering about the value of inherited pieces, we’re here to guide you with our century of expertise.
The Fascinating History of the Peace Dollar
We can’t talk about the Peace Dollar without talking about hope and healing.
Following the devastation of World War I, Americans were looking for symbols of peace and prosperity to replace years of war. This sentiment was expressed in a new silver dollar design commissioned in 1921 to replace the long-running Morgan Dollar.
Coin dealer Farran Zerbe was one of the first to drive the creation of a coin that would commemorate peace. The U.S. government needed to replace millions of silver dollars melted under the Pittman Act of 1918 to support the British war effort – so it was the perfect timing for a new design.
The Commission of Fine Arts held a competition, and Italian-American sculptor Anthony de Francisci’s design was selected. Intriguingly, the face of Liberty on the coin was modeled after his wife, Teresa, which gives this historical piece a deeply personal touch.
What Makes the Peace Dollar Special?
There’s something captivating about the Peace Dollar’s artistry:
- Obverse (Front): Features Liberty wearing a radiate crown resembling the Statue of Liberty, with “LIBERTY” above, the date below, and “IN GOD WE TRUST” flanking her neck.
- Reverse (Back): Depicts a majestic bald eagle at rest, clutching an olive branch, with rays of sunshine behind. The word “PEACE” is inscribed below, perfectly capturing the coin’s purpose.
The initial 1921 release featured a high-relief design that offered exceptional detail but ultimately proved impractical for mass production. The relief was lowered in subsequent years – which made that initial 1921 high-relief version particularly prized by collectors today.
Composition and Specifications
Peace Dollars have significant silver content, containing 0.77344 troy ounces of silver in the original 1921-1935 series.
This gives them both numismatic and intrinsic precious metal value, and is something that collectors are always on the lookout for as they build their collections. The coin itself weighs 26.73 grams, measures 38.1mm in diameter, and has a reeded edge.
What Determines Peace Dollar Value?
One of the most common questions we hear at Samuelson’s is: “How much is my Peace Dollar worth?” When it comes to value, it’s important to keep several factors in mind:
What is the Date and Mint Mark?
Peace Dollars were struck at three different U.S. Mint facilities:
- Philadelphia (no mint mark)
- Denver (D mint mark)
- San Francisco (S mint mark)
The mint mark can be found on the reverse, above the eagle’s tail feathers. Some dates and mint mark combinations are considerably rarer than others.
The 1928 Philadelphia issue had the lowest mintage of the regular series, with only 360,649 produced, making it a prized find for collectors.
What is the Condition and Grading?
The condition of your Peace Dollar will have a big impact on its value.
Professional coin grading uses a 70-point scale, with higher numbers indicating better condition. There are some key areas where grading comes into effect:
- The sharpness of Liberty’s hair details
- The eagle’s feather definition
- Presence or absence of wear on high points
- Luster and overall eye appeal
Mint State (uncirculated) coins with minimal handling marks command substantial premiums over circulated examples. Even the difference between MS-63 and MS-65 can multiply a coin’s value several times.
Special Varieties
There are specific Peace Dollar varieties that will fetch the highest values at market:
- 1921 High Relief version
- 1922 with doubled die features
- 1928 (low mintage year)
- Proof specimens (extremely rare)
Why We Love Peace Dollars at Samuelson’s
As third-generation experts in fine jewelry and collectibles, we have a special appreciation for Peace Dollars.
These coins represent not just precious metal content but American craftsmanship and historical significance—values that align perfectly with our century-old commitment to quality.
When clients bring Peace Dollars to our private appointments, we enjoy sharing our knowledge about these remarkable coins while providing fair, transparent evaluations based on current market conditions.
Ready to Explore Peace Dollars Further?
Whether you’re interested in starting a collection, adding key dates to an existing collection, or discovering the value of inherited Peace Dollars, our team of experts is here to help.
We offer private, pressure-free consultations where you can explore these historical treasures and receive personalized guidance.Schedule your private appointment today to discover the fascinating world of Peace Dollars with Samuelson’s Diamonds – Baltimore’s trusted jewelry and collectibles experts since 1922.
