The 1924-S Peace Dollar stands as a significant piece in numismatic circles, celebrated for its historical importance and rarity. Minted at the San Francisco Mint, this coin is a prized addition for collectors and investors alike.
Historical Context of the Peace Dollar
The Peace Dollar series was introduced in 1921 to commemorate the restoration of peace following World War I. Designed by Anthony de Francisci, the coin features Lady Liberty on the obverse and a perched bald eagle clutching an olive branch on the reverse, symbolizing peace. The series was minted from 1921 to 1928 and then again in 1934 and 1935.
Mintage and Production Details
In 1924, the San Francisco Mint produced 1,728,000 Peace Dollars, a significantly lower mintage compared to other years and mints. This limited production contributes to the coin’s scarcity, especially in higher grades.
Design Specifications
| Specification | Details |
|---|---|
| Designer | Anthony de Francisci |
| Composition | 90% Silver, 10% Copper |
| Weight | 26.73 grams |
| Diameter | 38.10 millimeters |
| Edge | Reeded |
| Mint Mark Location | Above the eagle’s tail feathers on the reverse |
Rarity and Collectibility
The 1924-S Peace Dollar is particularly scarce in Mint State (MS) grades, with most surviving specimens exhibiting signs of circulation. High-grade examples, especially those graded MS65 and above, are rare and command significant premiums in the market.
Market Values and Auction Records
The value of a 1924-S Peace Dollar varies based on its condition:
| Grade | Estimated Value Range |
|---|---|
| Circulated | $50 – $100 |
| MS60 | Approximately $260 |
| MS63 | Approximately $700 |
| MS65 | Approximately $7,000 |
| MS66 | Auction record of $54,625 (2011) |
These values are subject to change based on market demand and the coin’s condition.
Factors Influencing Value
Several factors contribute to the value of the 1924-S Peace Dollar:
- Mintage Figures: Lower mintage numbers generally increase a coin’s rarity and value.
- Condition: Coins in higher grades (less wear and better eye appeal) are more valuable.
- Market Demand: Collector interest can drive up prices, especially for coins in superior condition.
Collecting Tips
When seeking a 1924-S Peace Dollar for your collection, consider the following:
- Authentication: Due to the coin’s value, ensure it has been authenticated by reputable grading services like PCGS or NGC.
- Condition Assessment: Examine the coin for signs of wear, luster, and any potential cleaning, as these factors affect value.
- Market Research: Stay informed about current market trends and recent auction results to make educated purchasing decisions.
The 1924-S Peace Dollar is a remarkable coin that embodies a significant period in American history. Its limited mintage and rarity in higher grades make it a coveted piece for collectors. Whether you’re a seasoned numismatist or a new collector, understanding the nuances of this coin can enhance your appreciation and guide your collecting endeavors.
FAQs
Why is the 1924-S Peace Dollar considered rare?
The 1924-S Peace Dollar has a relatively low mintage of 1,728,000 coins, and high-grade specimens are scarce, increasing its rarity among collectors.
Where is the mint mark located on the 1924-S Peace Dollar?
The mint mark “S” is located on the reverse side of the coin, above the eagle’s tail feathers.
What factors affect the value of a 1924-S Peace Dollar?
The coin’s value is influenced by its condition (grade), rarity, market demand, and historical significance.
