The Peace Dollars, minted from 1921 to 1935, is one of the most iconic coins in U.S. history. Designed to commemorate the end of World War I, these silver dollars feature the symbolic image of Liberty on the obverse and a perched eagle with an olive branch on the reverse, signifying peace.
While many of these coins have been collected or stored away, rare Peace Dollars may still be hiding in circulation, potentially worth thousands of dollars.
Let’s dive into the history, rarity, and how you can identify these valuable treasures.
The History of the Peace Dollar
The Peace Dollar was introduced in 1921 to celebrate the end of World War I and symbolize peace. Designed by sculptor Anthony de Francisci, the coin was the result of a competition held by the U.S. Mint.
- Composition: The Peace Dollar is made of 90% silver and 10% copper, weighing 26.73 grams.
- Minting Locations: Produced at the Philadelphia (no mintmark), Denver (D), and San Francisco (S) mints.
The Peace Dollar replaced the Morgan Dollar and was the last U.S. silver dollar intended for circulation.
Rare Peace Dollars You Should Look For
While many Peace Dollars are common, certain dates and mint marks are extremely rare and valuable.
1. 1921 Peace Dollar (High Relief)
- Why It’s Rare: The first year of production featured a high relief design, making it challenging to mint and resulting in fewer coins.
- Value: High-grade examples can fetch upwards of $20,000.
2. 1928 Peace Dollar
- Why It’s Rare: This year had the lowest mintage of any Peace Dollar, with only 360,649 coins produced.
- Value: In uncirculated condition, this coin can be worth over $10,000.
3. 1934-D Peace Dollar (Doubled Die Obverse)
- Why It’s Rare: A minting error caused doubling on the obverse text, making it highly collectible.
- Value: Prices range from $1,500 to $10,000, depending on condition.
4. 1935-S Peace Dollar
- Why It’s Rare: The final year of Peace Dollar production, with fewer coins surviving in good condition.
- Value: Uncirculated examples can be worth over $4,000.
| Year | Mint Mark | Rarity | Value (Up To) | Special Feature |
|---|---|---|---|---|
| 1921 | No mintmark | High relief design | $20,000+ | First year of issue |
| 1928 | No mintmark | Lowest mintage | $10,000+ | Only 360,649 minted |
| 1934 | D | Doubled die obverse | $10,000+ | Obverse text doubling |
| 1935 | S | Final production year | $4,000+ | Low survival rate in high grade |
Why Are Rare Peace Dollars Still in Circulation?
- Unrecognized Value: Many people are unaware of the rarity and potential value of certain Peace Dollars, leading them to circulate unknowingly.
- Inherited Collections: Coins from old collections or estates often find their way back into circulation when heirs spend them without realizing their worth.
- Resurfacing Hoards: Hoards of silver dollars sometimes re-enter circulation, bringing rare coins with them.
How to Identify a Rare Peace Dollar
- Check the Year and Mint Mark: Look for key years such as 1921, 1928, and mint marks like D or S.
- Inspect for Errors: Use a magnifying glass to spot features like doubled text or other anomalies.
- Weigh the Coin: Peace Dollars weigh 26.73 grams; deviations could indicate errors or counterfeit coins.
Rare Peace Dollars remain hidden in circulation, waiting to be discovered by keen-eyed collectors.
With specific years and mint marks fetching thousands of dollars, it’s worth taking a closer look at your coin jar or inherited collection.
From the 1921 High Relief to the 1928 low-mintage coins, these treasures are not just historical artifacts—they’re valuable investments. Start checking your change today; you might just hold a fortune in your pocket!
FAQs
How can I tell if my Peace Dollar is rare?
Check the year, mint mark, and condition. Coins like the 1928 Peace Dollar or 1934-D Doubled Die are particularly valuable.
Are all Peace Dollars made of silver?
Yes, Peace Dollars are composed of 90% silver and 10% copper.
Where can I sell a rare Peace Dollar?
You can sell rare coins to reputable dealers, at coin auctions, or through online platforms specializing in collectibles.
