Peace dollar values reflect America’s commemoration of the end of World War I through one of its most artistic coin designs, with prices ranging from $25 for common circulated examples to over $140,000 for the legendary high relief proofs.
Designed by Italian-born sculptor Anthony de Francisci, who used his wife Teresa as the model for Liberty, these silver dollars were minted from 1921 to 1935 (with a notable gap from 1929-1933 during the Depression). The inaugural 1921 Peace dollar featured a dramatic high relief design that proved difficult to strike, leading to a lower relief for subsequent years.
Containing 0.7735 troy ounces of 90% silver, Peace dollars marked the end of traditional U.S. silver dollar coinage for circulation, replacing the beloved Morgan dollar with an Art Deco masterpiece featuring Liberty crowned with rays of sunlight and a perched eagle clutching an olive branch above the word “PEACE.”
Peace Dollar Value Chart (1921-1929)
| Year | GOOD | FINE | AU | MS | PR |
|---|---|---|---|---|---|
| 1921 | $152.00 | $238.33 | $400.00 | $2880.00 | โ |
| 1921 PR | โ | โ | โ | โ | $322000.00 |
| 1922 | $46.00 | $46.00 | $46.00 | $184.50 | โ |
| 1922-D | $44.62 | $46.00 | $49.00 | $203.00 | โ |
| 1922-S | $46.00 | $46.00 | $46.00 | $133.75 | โ |
| 1922 PR | โ | $36800.00 | โ | โ | $223866.67 |
| 1923 | $46.00 | $46.00 | $46.00 | $152.83 | โ |
| 1923-D | $44.62 | $46.00 | $50.50 | $412.00 | โ |
| 1923-S | $46.00 | $46.00 | $46.00 | $646.20 | โ |
| 1924 | $46.00 | $46.00 | $46.00 | $1269.86 | โ |
| 1924 VAM 1A Bar D | $10.31 | $35.29 | $64.00 | $237.50 | โ |
| 1924 VAM 2 Doubled Reverse | $10.31 | $35.29 | $73.50 | $298.00 | โ |
| 1924 VAM 5A Broken Wing | $13.95 | $47.75 | $90.00 | $370.00 | โ |
| 1924 VAM 8A Extra Hair | $53.75 | $62.50 | $85.00 | $272.50 | โ |
| 1924-S | $46.00 | $48.33 | $115.00 | $1888.00 | โ |
| 1924-S VAM 3 Doubled Reverse | $22.07 | $61.74 | $200.00 | $526.67 | โ |
| 1925 | $46.00 | $46.00 | $46.00 | $159.50 | โ |
| 1925-S | $46.00 | $46.00 | $78.50 | $253.33 | โ |
| 1926 | $46.00 | $46.00 | $46.50 | $216.40 | โ |
| 1926-D | $44.62 | $46.00 | $75.50 | $830.00 | โ |
| 1926-S | $44.62 | $46.00 | $56.00 | $330.00 | โ |
| 1927 | $44.62 | $47.83 | $85.00 | $604.00 | โ |
| 1927-D | $46.00 | $50.50 | $155.00 | $1398.00 | โ |
| 1927-S | $44.62 | $54.00 | $175.00 | $1736.00 | โ |
| 1928 | $184.00 | $248.33 | $390.00 | $1418.00 | โ |
| 1928-S | $46.00 | $52.67 | $130.00 | $3932.00 | โ |
| 1928-S VAM 3 Doubled Motto | $24.25 | $83.05 | $200.00 | $777.50 | โ |
Peace Dollar Value Chart (1934-1935)
| Year | GOOD | FINE | AU | MS | PR |
|---|---|---|---|---|---|
| 1934 | $46.00 | $46.00 | $82.50 | $973.33 | โ |
| 1934-D | $46.00 | $46.00 | $96.00 | $1610.00 | โ |
| 1934-S | $46.00 | $98.67 | $695.00 | $7048.00 | โ |
| 1935 | $46.00 | $46.50 | $75.50 | $768.33 | โ |
| 1935-S | $46.00 | $52.00 | $145.00 | $1518.33 | โ |
Summary: Peace dollar value
Peace dollar values divide into distinct tiers based on mintage, date, and condition. The undisputed key date is the 1928 Philadelphia issue with only 360,649 mintedโthe lowest regular production in the seriesโcommanding $300+ even in Good condition and reaching $23,000+ in MS65.
Other significant dates include the 1921 High Relief ($100+ in Good, $31,000+ in MS65), the 1934-S semi-key ($50-100 in circulated grades, $9,000+ in mint state), and the 1927-D which trades at premiums despite higher mintages due to many being held back from circulation.
Common dates from the mid-1920s (1922-1926) trade near silver melt value of $25-35 in lower grades but become surprisingly scarce in MS66-67, where even common dates can reach four figures. The series also includes ultra-rarities like the 1922 High Relief proofs (10-12 known) valued at six figures.
VAM varieties offer additional collecting opportunities, particularly the 1934-D doubled die obverse. With relatively few expensive keys compared to Morgan dollars, Peace dollars provide an achievable yet challenging series that combines artistic beauty, historical significance, and investment potential in America’s last silver dollar designed for commerce.
