1922 Peace Dollar: About 2.5 Million High Grade Examples Still Exist

Peace Dollar Overview

Famous for being the last Silver Dollar produced, the Peace Dollar has had an interesting history. Low mintages in a good number of dates has led to many Peace Dollars having a premium worth in the collector’s market.

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Sculptor Anthony de Francisci was commissioned by the US Mint to create the next design for the US Silver Dollar in 1920. Francisci used a design that focused on Lady Liberty as well as other patriotic elements, such as the Bald Eagle. The design also paid tribute to the end of World War 1, and the strong belief that there would be everlasting peace across the world.

The main obverse design features a depiction of Lady Liberty with a radiant crown and flowing hair. “LIBERTY” can be found centered at the top, running slightly through Liberty’s crown. The date is directly below the bust, with “IN GOD WE TRUST” split between each side of Liberty’s neck.

On the reverse, an American bald eagle is sitting on a perch with the sun beginning to rise. The mottos “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” can be found centered at the top of the reverse. “ONE DOLLAR” can be found split on each side of the bald eagle.

Peace Dollar production began at the end of 1921 and continued until 1938, when the Mint stopped production temporarily. Production was resumed in 1934, but ultimately ended in 1935. No other Silver Dollar would again be minted by the United States, making the Peace Dollar the last Silver Dollar produced.

1922 Peace Dollar History

Since only a little over one million Peace Dollars were minted at the end of 1921, the Mint knew that they needed to ramp up Peace Dollar production in 1922. By the end of 1922, the US Mint at Philadelphia reported striking 51,737,000 Peace Dollars. This was the most number of Peace Dollars minted in a single year for the entire series.

In the coming years, production of Peace Dollars would drop significantly. Most years after 1923 only featured mintage figures around one million pieces.

The composition of the 1922 Peace Dollar is 90% silver and 10% copper. With a diameter of 31.8 mm, the weight comes in at 26.73 grams. Reeding can also be found on the edges of the 1922 Peace Dollar.

Grading the 1922 and Other Peace Dollars

A coin’s value depends greatly on what type of condition that the coin is in. Normally, the better the condition, the higher the price.

Coin collectors use coin grading as a way to help standardize the different levels of overall condition. This grading system is based on a 70 point scale where “70” is considered a perfect coin.

Here are some basic guidelines and rules to help determine the grade of your Peace Dollar.

  • Good 4 - Heavy wear can be seen on all parts of the coin. Most details are either missing or completely flat and worn. The rim will also show large amounts of wear.

  • Fine 12 - Not as heavy wear as in Good 4, but still missing some details. Flatness can be seen on some parts of Liberty’s hair as well as her cheek and neck.

  • Extremely Fine 45 - A coin that shows much less wear and much more detail. Most details will be full, including most strands of Liberty’s hair. Some flatness might be seen at some small high points of the coin.

  • Uncirculated 60 - No wear is present and mint luster is strong across the entire coin. Some small and non-distracting contact marks may be present, but overall, a coin that looks as if it just left the Mint.

1922 Peace Dollars will fall into one of these different categories as many examples have survived. Most coins will be worn and find themselves in the “Fine” or “Good” categories. There is also a high number of coins that can still be found in “Uncirculated” condition.

1922 Silver Dollar

Image Source Flickr user Northern Lights Numismatics

1922 Peace Dollar Value

The 1922 Peace Dollar is unique in the fact that most examples will end up in either the upper or lower end of the spectrum. This split results in two different types of markets for 1922 Peace Dollars.

Lower grade examples will be valued at their silver content by investors. This means that 1922 Peace Dollars in either Fine or Good condition are only valued at $22, which is their current melt price.

Collectors are normally interested in higher grade 1922 Peace Dollars that are at least in Extremely Fine condition. Examples in Extremely Fine condition retail for about $25.

Uncirculated examples at MS-60 condition are valued at $36. Price also does not rise quickly in MS-63 condition, with most examples valued at $48. MS-65 condition is where prices take a big jump up to $145.

Prices are still relatively low for high-grade examples due to the huge amount that are still available. PCGS estimates that there are still over 2,500,000 examples that are in MS-60 or better condition.

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