Steve Rand
General Manager / Sr. Precious Metals Advisor
Steve Rand is the General Manager and a Sr. Precious Metals Advisor at Scottsdale Bullion & Coin. He brings over 20 years of experience in the physical precious metals markets.
The silver Peace Dollar is a popular numismatic coin that regularly finds a place in diversified portfolios and coin collections. The coin was the result of two primary motivations: a desire to celebrate the peace following World War I and the need for the government to produce millions of silver dollars in compliance with the Pittman Act.
Although initial production halted in 1935, the newest version of the Peace Silver Dollar was introduced in 2021. Understanding the differences between the original and modern versions of the silver coins can make it easier to invest in the Peace Dollar according to your goals and parameters.
Silver Peace Dollar Background
The silver Peace Dollar received its name in remembrance and celebration of WWI. It replaced the Morgan Dollar to become the only silver dollar minted since the passage of the Coinage Act. The US government held a competition to find a design that could embody the future of peace that was anticipated following the Great War. Contributors were to design an obverse with the head of Liberty and a reverse with an eagle. Submissions had to include the word “liberty”, the country’s name, and the standard mottos “In God We Trust” and “E Pluribus Unum. Other than these specifics, artists had complete creative freedom.
A Winning Design
Anthony de Francisci, an accomplished Italian-American sculptor, won the competition with his elegant and unique design. Despite being relatively new to coin design at the time, his motif was chosen amongst a considerable number of submissions.
Obverse
The obverse of the silver Peace Dollar features a youthful depiction of Liberty who looks resolute and strong. She’s adorned with a pronounced tiara similar to the Statue of Liberty which covers the word “Liberty” written across the top. Liberty’s hair is intricately detailed and appears to be flowing in the wind, adding to the life-likeness of the image. “In God We” appears on the left of Liberty with “Trvst” on the right. The “V” is used instead of a “U” to commemorate the US victory in WWI.
Reverse
The reverse of the silver Peace Dollar depicts the American Eagle perched atop a mountain looking proudly into the distance. There’s an olive branch in one of the eagle’s talons which is intended to represent peace. There are a series of strong lines emanating from the bottom-right of the coin which could be interpreted as sunrays or a continuation of Liberty’s crown from the obverse side. It features the name of the country and “E Pluribus Unum in large lettering across the top and “Peace” on the bottom.
Original Mintings (1921-1928 & 1934-1935)
The Peace Silver Dollar was initially minted between 1921 and 1928 and again between 1934 and 1935. It was the second silver dollar minted since the Coinage Act of 1837, replacing the popular Morgan Dollar. Original Silver Peace Dollars weigh 26.73 grams or 0.8593 troy oz. They have a .900 silver purity rating which yields a 0.77344 troy oz silver weight.
Modern Mintings (2021 – Present)
In 2021, the US Mint resumed minting the silver Peace Dollar and Morgan Dollar to commemorate the 100th anniversary of the transition between the two popular silver coins. Supply chain disruptions caused a suspension of production in 2022 although minting is planned to continue in 2023 and onwards.
The modern silver Peace Dollar maintains the same design as the original minting. In fact, the modern silver Peace Dollar can be said to more closely resemble the original design for the coin than the initial minting period due to vast technological improvements. In contrast to the initial mintings, the 2021 version comprises 99.9% silver with a weight of 0.858 troy ounces.
Peace Silver Dollar Value
The value of a silver Peace Dollar varies greatly depending on its age, rarity, mint mark, and condition – among other factors. These highly sought-after numismatic coins fall just short of the Morgan Dollar in terms of popularity among investors. It’s advisable to speak with a reputable precious metals advisor to find the precise value of your coin.
Silver Peace Dollars FAQ
How can I tell if my Peace Dollar is real?
The best way to detect a counterfeit Peace Dollar is to consult with a precious metals or coin dealer. With so many different mintings of the silver Peace Dollar, it’s difficult for the average investor to keep track of popular counterfeiting techniques. An experienced silver coin dealer will know what determines if a coin is authentic. When buying silver Peace Dollars, make sure to stick to reputable and qualified sellers to avoid the potential of scams.
How much silver is in a Peace Dollar?
The modern 2021 version of the silver Peace Dollar has a .999 purity rating which means 99.9% of the coin is pure silver. Conversely, the original Peace Dollars minted between 1921 and 1935 have a lower purity and are made of .900 silver.
How much is a Peace Silver Dollar worth today?
The value of a silver Peace Dollar is determined by its mint date, mint mark, condition, rarity, and the spot price of silver. With so many different peace dollars in circulation, values vary significantly among varieties. That’s why it’s important to consult a precious metals dealer to make sure you have an accurate understanding of the coin’s value.
What are the most valuable Peace Silver Dollars?
Some of the most valuable silver Peace Dollars are those that saw low mintage or experienced production issues leading to imperfections. Both features make a coin rarer, thus increasing its numismatic value. For example, the 1928 Philadelphia minted silver Peace Dollar is highly valued since it was the lowest production year. Additionally, some of the 1922 Philadelphia mint silver Peace Dollars have a die break on the obverse side which is highly sought-after among coin collectors.