1935 Silver Dollar Value Checker: Errors List, “S” & No Mint Mark Worth

1935 Silver Dollar value ranges from $1.00 face value to $63,000. That record price went to a MS-67 graded example sold at Heritage Auctions in February 2021, one of the finest known Peace Dollars in existence. If you want to know what yours might be worth, upload a photo of your coin below and get a quick value range. Then scroll down to check what similar coins are actually selling for on eBay right now.

 

1935 Silver Dollar Value By Variety

Two mints produced the 1935 Silver Dollar, and that single detail — where it was made — creates a bigger price gap than most collectors expect. A coin with an “S” and one without can look nearly identical in hand, yet sell for very different money.

Here’s a quick look at where each variety stands today. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 30+ Most Valuable Peace Dollars Worth Money

 

Top 10 Most Valuable 1935 Silver Dollar Worth Money

The king of the hill is a 1935 Philadelphia graded MS67 by PCGS. It brought $63,000 at Heritage Auctions in February 2021. Only 28 coins have been graded that high between PCGS and NGC combined, with nothing finer. When one surfaces, bidding gets aggressive fast.

The 1935-S record sits at $39,656 for an MS65 — two full grades below the Philly record-setter. That tells you how brutal it is to find a clean, well-struck San Francisco coin in gem condition. The 1935-S VAM 4 Doubled Reverse rounds things out at $4,200 for an MS66. It’s on the Top 50 Peace Dollar VAM list, and most people walk right past it in dealer cases without a second look.

You’ll notice the 1935-S shows up more often than the Philadelphia coin in the upper price tiers. That’s not because it’s rarer overall. It’s because finding one that’s truly nice is genuinely hard.

 

History Of The 1935 Silver Dollar

The Peace Dollar came back to life in 1934 thanks to the Silver Purchase Act, which forced the Mint to buy huge quantities of domestic silver. That law is the only reason the 1935 dollar exists at all.

Mint officials actually prepared working dies for a 1936 issue. Nobody wanted them. No commercial demand meant no coins struck. The 1935 quietly closed out the entire Peace Dollar series without any formal announcement.

Here’s the fun detail: bags of 1935-S dollars sat in government vaults for years. They got paid out in the late 1940s and early 1950s, coming back only lightly circulated. Nobody at the time realized they were holding the last 90% silver dollars that would be struck for circulation until 1971. The historical weight of this date wasn’t appreciated until the coins had already scattered.

Also Read: Top 100 Rarest Silver Dollar Coins Worth Money (Most Expensive)

 

Is Your 1935 Silver Dollar Rare?

Rarity ratings can shift depending on grade and variety. The Coin Identifier and Value App breaks down exactly where your 1935 dollar sits on the scale, so you get a clearer picture before buying or selling.

 

Key Features Of The 1935 Silver Dollar

Anthony de Francisci designed the Peace Dollar, and the 1935 was struck in low relief like every issue from 1922 onward. Both sides carry post-war symbolism. Here’s what to look for when you examine yours.

The Obverse Of The 1935 Silver Dollar

You’ll see the Goddess of Liberty in profile, facing left, wearing a radiant crown of rays. De Francisci used his wife Teresa as partial inspiration, though the face was elongated — not a direct portrait.

“LIBERTY” runs along the upper rim. “IN GOD WE TRVST” appears on either side of Liberty’s neck. That “V” in “TRVST” trips people up constantly — it’s not an error. It’s a deliberate Latin-style choice used on every Peace Dollar from 1921 to 1935. The date “1935” sits at the bottom, with the designer’s initials “AF” just above it.

The Reverse Of The 1935 Silver Dollar

Flip it over and you’ll find a bald eagle at rest, clutching an olive branch, perched on a rock above a rising sun. “PEACE” is inscribed at the base. The imagery was meant to represent a new beginning after the war.

“UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” arc across the top. The denomination “ONE DOLLAR” is split — “ONE” to the left of the eagle’s tail feathers, “DOLLAR” to the right. On the 1935-S, look just below “ONE” near the tail for the “S” mintmark.

Other Features Of The 1935 Silver Dollar

The coin weighs 26.730 grams, measures 38.10 mm in diameter, and has a reeded edge. Its composition is 90% silver and 10% copper, which gives it a silver content of 0.77344 troy ounces.

The low-relief design made these coins stackable and practical for everyday use. Every Peace Dollar from 1922 onward, including the 1935, was produced this way — unlike the high-relief 1921 issue that caused headaches at the Mint.

Also Read: Top 100 Most Valuable Morgan Silver Dollar Coins Worth Money List

 

1935 Silver Dollar Mintage & Survival Data

Philadelphia struck 1,576,000 coins. San Francisco made 1,964,000. You’d think the S-mint would be easier to find. It’s not.

About 140,000 Philadelphia coins survive today — an 8.88% survival rate. The 1935-S? Roughly 100,000 survivors, just 5.09%. Despite the higher original mintage, fewer San Francisco coins made it. That’s like starting with a bigger stack of chips and still ending up with less at the table.

Those bags of 1935-S dollars sat in government vaults for years before getting paid out in the late 1940s and early 1950s. Nobody set them aside carefully when first released. That lack of early preservation is exactly why clean, high-grade survivors are so thin on the ground today.

Also Read: Top 20+ Most Valuable Eisenhower Dollars Worth Money

 

The Easy Way to Know Your 1935 Silver Dollar Value

Two things matter most: mint mark and condition. Flip the coin to the reverse and check just below the word “ONE” near the eagle’s tail. An “S” means San Francisco; no mark means Philadelphia.

Now look at the surfaces under good lighting. Check Liberty’s hair detail and the eagle’s feathers — those wear first. Their sharpness is what separates a circulated coin from an uncirculated one.

Once you have a rough sense of condition and variety, the Coin Identifier and Value App can take it further with an AI photo scan that cross-references your coin against current market data.

 

1935 Silver Dollar Value Guides

Each variety has its own value profile. Here’s what to know before you dig into the numbers.

• 1935 No Mint Mark Silver Dollar — Philadelphia issue; more accessible in gem grades
• 1935-S Silver Dollar — San Francisco issue; scarcer in top condition, commands higher Mint State premiums

Grade is what separates a common example from a valuable one. A well-struck coin with original surfaces in Mint State can be worth many times more than a circulated piece of the same variety.

 

1935 No Mint Mark Silver Dollar Value

If you’re building a Peace Dollar set on a budget, this is your friend. The 1935 Philadelphia coin is one of the more affordable issues in Mint State, with strong luster and solid strikes across most of the grade range.

That said, there’s a wall at MS66. Anything finer is a true condition rarity. PCGS and NGC combined list only around 28 submissions in MS67, with none graded higher. Even at MS65, some pieces show softness in Liberty’s hair and the eagle’s feathers, so be picky when you’re shopping at the gem level.

The auction record — $63,000 — was set by a PCGS MS67 at Heritage Auctions in February 2021. An earlier MS67 from the Blake Collection had brought $49,200, showing these top-pop coins perform consistently. I think this is one of the best values in the series below MS65, but once you cross into gem territory, you’re paying for scarcity.

Top-grade examples have a strong auction track record, with MS67-level pieces reaching five figures consistently.

The chart below shows market trends helping collectors identify optimal timing for acquisitions or sales.

 

1935-S Silver Dollar Value

Here’s a question worth asking: why does a coin with a higher mintage than its Philadelphia counterpart sell for more money? Bag marks. The 1935-S is notorious for them. Strike consistency is also a recurring problem. Finding a well-struck piece with clean surfaces takes real patience.

MS66 is very scarce. MS67 is extremely rare. Premiums jump sharply once you get past MS65. A wholesale bid for an MS65 sits around $1,800, while MS66-level coins have sold in the $3,000–$10,800 range depending on eye appeal and variety.

The variety factor matters too. The 1935-S is the only Peace Dollar with a documented four-ray reverse. CAC-approved examples consistently draw stronger results than non-stickered pieces at the same grade.

We think this is one of the toughest Peace Dollars to find truly nice. The overall auction record — $39,656 for an MS65 at Heritage Auctions in 2013 — proves the market agrees. That’s a huge number for a coin below the finest known, and it reflects how tightly collectors value clean survivors of this date.

Well-struck gem examples regularly draw strong premiums over standard market estimates at auction.

Displayed here is a snapshot of market activity that highlights the popularity and activity level of the issue.

Also Read: 17 Rare Dollar Coin Errors List with Pictures (By Year)

 

Rare 1935 Silver Dollar Error List

Errors on 1935 Peace Dollars aren’t common, but they’re out there. Most turn up unattributed in dealer cases or old collections. That means cherrypicking opportunities still exist if you know what to look for.

1. 1935-S VAM 4 Doubled Reverse Error

This is the big one. The VAM 4 appears only on the 1935-S and holds an official spot on the Top 50 Peace Dollar VAM list.

The doubling happened during die-making. When the working die was hubbed, a slight misalignment between impressions left certain reverse elements doubled. You’ll see it on the lower reverse — around the eagle’s branch and surrounding lettering.

Grab your loupe and look for a faint shadow or secondary image running alongside the primary design. The doubling is raised, not flat. That’s your key distinction from worthless machine doubling, which shows flat, shelf-like displacement.

PCGS has certified just four examples in MS65, with two graded finer. The auction record stands at $4,200 for an MS66 example sold at David Lawrence Rare Coins on December 26, 2016. Without attribution on the holder, you’ll get standard 1935-S money. The label matters.

2. 1935 Silver Dollar Lamination Error

This is a planchet defect, not a striking mistake. It happens before the coin ever meets a die.

During metal strip preparation, contaminants like gas, dirt, or trapped oxides create weak spots in the alloy. Those weak areas can flake, peel, or split after striking. You’ll see peeling, cracking, or missing layers on the finished coin — sometimes with a flap of metal still hanging on.

On the 1935 Peace Dollar, laminations tend to show up on the obverse fields or across Liberty’s portrait. A retained lamination — where the flap is still attached — is more desirable because it tells a clearer story of what happened.

Minor laminations trade for $100–$150. Major examples with large peeling sections can reach $400–$850 depending on how dramatic they look. Size, placement, and whether the flap is retained all affect price.

3. 1935 Silver Dollar Clipped Planchet Error

This one happens at the very start of production, before any design touches the metal.

When the cutting punch overlaps a hole where a blank was already removed, the resulting planchet comes out missing a curved section along the rim. The coin gets struck normally but carries a permanent crescent-shaped notch.

Look for a smooth concave area along the rim where metal is simply absent. The surrounding surfaces should show the same wear and patina as the rest of the coin. That consistency separates a genuine clip from post-mint damage, which usually looks rougher with tool marks or sharp edges.

A coin can sometimes have multiple clips if the punch hit an area overlapping several previous holes. Multiple clips on one coin are rarer and more sought after. Values range from a few hundred dollars for minor clips to stronger premiums for dramatic, clearly defined examples on higher-grade pieces.

4. 1935 Silver Dollar Broadstrike Error

Ever seen a Peace Dollar that looks slightly too wide? That’s a broadstrike.

The retaining collar — the ring that holds the planchet during striking — failed to engage. Without it, metal flows outward freely. The coin ends up wider than its normal 38.1mm diameter with a smooth edge instead of reeding.

The design is still centered, which separates this from an off-center strike. Both sides show the full design, but the coin looks slightly flattened and expanded. Run your fingernail along the edge — no reeds confirms it.

A centered broadstrike in AU or Mint State typically sells for $350–$500. On a big silver dollar, the visual impact is more dramatic than on smaller coins, which tends to attract stronger collector interest.

5. 1935 Silver Dollar Off-Center Strike Error

These are genuinely rare. The sheer mass of a silver dollar planchet makes off-center strikes mechanically difficult without jamming the press.

When one does happen, the planchet wasn’t seated properly before the dies came down. You get a blank crescent of unstruck metal on one side while the design shifts toward the opposite edge.

Two factors drive value: how far off-center, and whether the date is visible. A 10–15% off-center strike is already rare for this series. Anything beyond 25% is exceptional. Coins showing the full date despite the misalignment are more desirable than those where the date got pushed off the edge entirely.

Circulated off-center Peace Dollars start around $3,000. More dramatic strikes reach well into five figures at major auctions.

 

Where To Sell Your 1935 Silver Dollar?

After identifying varieties and understanding market values, selecting an appropriate selling venue becomes the crucial next step. Multiple platforms serve collectors and dealers, each presenting unique advantages depending on your specific circumstances.

Check out now: Best Places To Sell Coins Online (Pros & Cons)  

 

1935 Silver Dollar Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1935 Silver Dollar

1. How much is a 1935 Silver Dollar worth?

It depends on which mint produced it and what condition it’s in. Both the Philadelphia and San Francisco versions start around $82 in Good to Fine grades.

In Mint State, the gap widens considerably. The Philadelphia coin averages around $728, while the 1935-S climbs to roughly $1,395 in MS grades. Top examples of the Philadelphia issue have sold for as much as $63,000 at auction in MS67.

2. How do I find the mint mark on a 1935 Silver Dollar?

Flip the coin to the reverse side and look just below the word “ONE”, near the eagle’s tail feathers. An “S” means San Francisco. If there is no letter, the coin came from the Philadelphia Mint.

No Denver-minted 1935 Peace Dollar exists. If someone shows you one with a “D” mintmark, walk away.

3. Is the 1935-S Silver Dollar worth more than the no mint mark version?

Yes, in most grades above circulated. Both trade around $82 in Good and Fine condition.

The split happens in AU and Mint State. The 1935-S reaches around $145 in AU compared to $88 for Philadelphia, and about $1,395 versus $728 in MS. The 1935-S survival rate of roughly 5.09% is lower than the Philadelphia’s 8.88%, which drives those stronger premiums.

4. What does “TRVST” mean on my 1935 Silver Dollar — is it an error?

No. It’s a Latin-style “V” in place of “U.” Every single Peace Dollar from 1921 to 1935 has it. No premium, no error. It’s the most commonly misidentified feature on this coin.

5. What is the rarest error on a 1935 Silver Dollar?

The 1935-S VAM 4 Doubled Reverse. It’s on the Top 50 Peace Dollar VAM list and appears only on the San Francisco issue.

The doubling is visible on the lower reverse, around the eagle’s branch and surrounding lettering. PCGS has certified only four examples at MS65, with two graded finer. The auction record for this variety stands at $4,200 for an MS66 example sold at David Lawrence Rare Coins on December 26, 2016.

6. How do I know if my 1935 Silver Dollar has been cleaned?

Look for unnatural brightness or a grey, dull appearance instead of warm original luster. Under a loupe, fine hairline scratches across the fields are the telltale sign — left behind by polishing.

PCGS and NGC flag cleaned coins permanently on the certification label. A cleaned coin can lose 50% or more of its market value compared to a problem-free example in the same grade.

7. How many 1935 Silver Dollars survive today?

About 140,000 Philadelphia coins survive — an 8.88% survival rate. The 1935-S has roughly 100,000 survivors at about 5.09%.

Despite the higher original mintage, the San Francisco issue has fewer coins remaining. Bags sat in government vaults for years before being paid out in the late 1940s and early 1950s, and many came back lightly circulated without having been carefully preserved.

8. What grade should I look for when buying a 1935 Silver Dollar?

For the Philadelphia issue, MS63 and MS64 offer solid value and are easy to find. MS65 is accessible but worth being selective about — some show softness in Liberty’s hair and the eagle’s feathers.

MS66 is where real scarcity begins. For the 1935-S, the same principle applies but everything is harder. Finding a sharp strike with clean surfaces at any Mint State level takes effort. A wholesale bid for a 1935-S MS65 sits around $1,800.

9. What is the 1935 Silver Dollar made of?

90% silver and 10% copper. It weighs 26.730 grams, measures 38.10 mm in diameter, with a reeded edge.

The coin contains 0.77344 troy ounces of pure silver, which sets a base melt value regardless of condition. Even a heavily worn example retains silver value, though collector-grade pieces trade well above that floor.

10. Why did Peace Dollar production stop after 1935?

The 1935 issue fulfilled the purchasing obligations of the Silver Purchase Act of 1934. Once those were met, there was no commercial demand to keep going.

Mint officials prepared working dies for a potential 1936 issue, but none were struck. No legislation required it, nobody wanted them, and the master dies were ordered destroyed in January 1937. The 1935 quietly became the last 90% silver dollar struck for U.S. circulation for 36 years.