There are few coins like the 1922 Peace silver dollar, which embody the spirit of peace and historical milestones.
Minted to commemorate the end of World War I, the coin’s origins are deeply tied to the Pittman Act of 1918, which mandated the melting of millions of Morgan silver dollars to aid British currency stabilization during the war.
The silver needed to be replaced with new coinage struck domestically, which is where the 1922 Peace silver dollar comes in. Learn more here.
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History of the 1922 Peace Silver Dollar
In 1921, after the prompting from numismatists and a design competition won by sculptor Anthony de Franciscii, the Peace dollar debuted.
The coin featured Lady Liberty in profile on the obverse side, with the reverse side portraying a bald eagle perched on a rock, clutching an olive branch. The eagle symbolized America’s victory and hopes for lasting peace.
Originally, the design also included a broken sword beneath the eagle to represent the ending of conflict, though controversy caused the sword to be taken away just days before striking began. It took over eighty-five years before the original design was revealed.
The coin’s production peaked in 1922, with over 84 million Peace dollars minted across three U.S. facilities: Philadelphia (no mint mark), Denver (D), and San Francisco (S).
Out of the three, Philadelphia’s 51.7 million coins make it the most common and affordable. Denver’s 15.1 million coins are rarer and often carry a premium over Philadelphia coins due to die spacing problems that weaken central details.
San Francisco minted 17.5 million coins, which occupy a middle rarity position but are also notorious for weak strikes and bag marks during handling. This means pristine San Francisco coins are exceptionally rare and garner the most value.
Why it’s Special
The 1922 Peace silver dollar is desired for its multifaceted appeal, with intrinsic silver value, historical significance as the final circulating U.S. dollar coin struck in 90% silver, and an array of collectible varieties.
Each coin has around 0.77 ounces of silver, and can be valued at around $20-$25 for just the metal. However, collector demand and conditions often push these prices way higher. Some coins that have the MS-66 grade can even reach into the four-figure territory.
Extremely rare high-grade examples at MS-67 and above will fetch tens of thousands at auction.
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Die Varieties and Minting Errors
Rarity and value often fluctuate based on specific die varieties and minting errors, which add collectible intrigue. Some of the most notable errors include the “Ear Ring” variety, where a striking die crack is near Liberty’s ear, or the “Die Break in Reverse Field,” which is a raised blob underneath the eagle.
Early 1922 high relief strikes and exceedingly rare, with only a handful known to exist.
Importance of Authentication
Authentication is the focal point in the current market, as counterfeit 1922 Peace silver dollars are common. Genuine coins will be 38.1 mm in diameter, 26.73 grams, with reeded edges, and sharp, well-defined details.
Authentic coins will also create a distinct ringing sound when gently tapped, which is a common test to determine the real coins from counterfeits. Professional grading services like PCGS or NGC are great at offering expert certification to ensure authenticity and value.
Investment Appeal
Investing in 1922 Peace dollars is popular not only for the silver content in each coin, but the numismatic appeal, too. These coins have shown resilience in the silver market through highs and lows.
While physical assets can incur storage and insurance costs and market volatility, the coin’s combination of history, bullion backing, and grading premium makes it a great long-term investment.
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In Conclusion
In conclusion, the 1922 Peace silver dollar is much more than a coin; it is a symbol of peace and a link to American and global history. Value can be determined based on the condition, mint mark, scarcity, and market dynamics. Philadelphia issues are the most accessible, while Denver and San Francisco options are perfect for seasoned investors.
For those who want to combine history and precious metals, look no further than the 1922 Peace silver dollar.
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