According to the data provided by the United States mint, only the Philadelphia mint had the resources to produce 13.5 billion coins annually. One of the coins that have been printed by this mint is the 1923 Peace silver dollar which is one the most valuable and recognized among passionate collectors.

Almost 100 years old, the 1923 silver dollar has iconic symbolism and a particular design that stands for peace. However, its value depends on the coin’s condition and mint mark.

As you can imagine, the prices can range. And this range is from $45 for uncirculated coins with an MS 60 grade to $160 for MS 65 uncirculated coins. So when choosing such a coin, it only depends on your budget and how passionate you are.

If you are hunting for fancy vintage coins, the 1923 silver dollar is a sought-after specimen you would most probably want to keep in your collection.

But before you start auctioning for the coins, I think that you need to know everything about their back history, standard features, value charts, grading systems, and particular errors. Lastly, prepare for a short Q&A session where we will answer all your queries.

This being said, let’s begin our journey.

The Back History Of 1923 Peace Silver Dollars

Well, the first thing you should know is that the 1923 silver peace dollars are loaded with a lot of symbolism. And let me tell you, these coins are truly marking one of the most critical days in America’s history. Hence, the silver dollar symbolizes the peace brought to America after the First World War.

The coin was issued five years after the end of the World War I, and, as I said, it came as a symbol of hope and peace. If you look at the coin’s design, you can easily see that it carries a similar image to the Liberty Statue in New York.

Even so, the 1923 peace dollar is an iconic minted coin by the US from 1921-1928, 1934, and 1935. The designer of these unique coins was Anthony de Francisci, a very famous sculptor back in those days.

His work for this coin greatly impacted him and his family and I think that you should know this. So please don’t skip this part and honor the artist by simply reading about him and his life. So, Anthony de Francisci had a cordial relationship with his wife, Teresa, who during her early school days wasn’t allowed to act American goodness in one of the school plays. So every time she took a cruise to New York, she remembered this sad episode in her youth life.

Luckily for Teresa, her husband took advantage of the chance to create the 1923 silver dollar design and made his wife’s dream come true. Hence, he used the portrait of his wife as the model for the coin’s design. Isn’t this a true love story?

Interesting Fact: The 1923 silver dollar was the last silver coin struck for circulation in America, making its symbolism is even more significant.

Most Common Features Of 1923 Silver Dollars

To be honest, the peace dollar bears one of the most beautifully crafted designs on a coin ever. The picture of a beautiful young woman I was telling you about with a raw-like crown over her head is loaded with lots of emotions.

But let’s depict all the obverse and reverse sides of the 1923 silver dollar and understand the meaning behind all the design elements:

The Obverse

As previously mentioned, the obverse side of the peace dollar displays the dominant image of the designer’s wife, which is popularly known as “Miss Liberty.” So the young woman is wearing a pretty raw crown that radiates sparkly over her head. Her hair is designed in motion, gracefully curled at the back of the head, while the other loose hair falls along gently.

If you look a bit closer, right over her head, you can see the inscription LIBERTY. The 1923 date appears at the bottom of Miss Liberty’s neck, right along the lower rim. Another essential detail is the motto “IN GOD WE TRUST,” written in a straight line on the lower side of the coin, spreading across the whole portion.

As a surprise, if you look more carefully at the “TRUST” word, you will see the letter “U” written as the letter “V.”

Now, I bet that the first thing that comes through your mind is the sculptor’s mistake in designing the words like that. Well, it’s nothing like that, and you are forgiven for this misleading interpretation. The mistake was very on purpose. The twist was meant to reproduce the letter “V” for victory.

But moving on, as a final point, you can check the sculptor’s signage that appears “AF.”

The Reverse

1921 silver dollar The Reverse
Credit: @puredichotomy

The reverse side of the coin illustrates a symbolic bald eagle. The bird is perching on a mountain’s peak, holding an olive branch between its claws. The American eagle is the universal symbol of peace. Therefore its presence on this coin is not surprising.

More particular than the other avian emblems, the 1923 silver sollar lacks the specific arrow bands, some elements mainly associated with military power. In other words, not only that the presence of the American eagle is not a surprise at all, but the fact that its sight is directed to the sunrise, either.

All these little details are meant to symbolize hope and peace. In the same patriotic style, the designer left a “UNITED STATES OF AMERICA” inscription on top of the coin. Also, on the obverse, collectors may notice the “E PLURIBUS UNUM” motto, written right below the country’s name.

According to research made by Harvard University, the Latin motto means “one out of many“. It illustrates the power, and perseveration of the US to bring together multiple states and create one great nation.

Moving forward with the design, you will notice the ONE DOLLAR mentioned in a single line of text at the lower part of the reverse side. Next to the eagle, the word PEACE was dropped on purpose, referring to peaceful coexistence.

Size and Composition

The 1923 silver dollar weighs only 26.73 grams and has a diameter of 38.10 inch. The composition is made of 90% silver and only 10% copper. According to multiple statistics that verified the composition of these coins, there is an estimated 0.77344 troy ounces of silver in each 1923 dollar. Hence, silver collectors are always eager to keep these coins in their portfolios.

The 1923 Silver Dollar Value

Here, we are at the most expected chapter for passionate collectors. Before moving on to the value chart, let’s discuss the main factors influencing the 1923 silver dollar’s value. If you are passionate about these pieces, you are probably also interested in checking the condition of the century-old minted coins, right?

Be aware that recognizing all aspects of an old coin might take years to master and, therefore, a lot of experience. Coin grading is, after all, a skill taught in time, even by the most passionate collectors.

Luckily, these tips will help all of you determine the quality of a 1923 silver dollar. Check the principal specifications for grading a silver peace dollar:

  • Very Fine – Look at Lady Liberty’s hair; if it looks pretty worn, while some strands of hair are well defined, then the grading is outstanding. You may also notice little parts of the eagle’s feathers that are more visible.
  • Extremely Fine – If the eagle’s feathers are visible on all sides but a bit faint, and the hair lines of Lady’s brows are strong, then your coin has an excellent grading system. Usually, this stage of wear displays minimal tears on images, words, and even on the whole texture of the coin. There are really rare exceptions when the peace dollar has minimal worn-out features, especially around Miss Liberty’s crown.

And it is crystal clear that it’s due to the years of exchange and multiple users that had the coin on their hands. So, yes, the coin might have parts that feel smoother. Despite all these little flaws, such an outstanding silver coin is still very attractive to collectors.

  • MS60 uncirculated – You can see no signs of wear, and the coin lacks abrasions, stains, and even surface marks. Regardless of the fact that these coins are pretty old, they should still appear fresh and clean. The tone and shade of the silver coin may also be a helpful indicator of its age and level of wear. Just have a look at the letters – if they have no sign of tear and wear, well, consider yourself lucky.
  • MS 65 gem uncirculated – It is easy to recognize the MS 65 grading due to the eye-appealing effect and contact marks that are barely visible.

According to different statistics made by the USA Coin Book, the usual 1923 peace silver dollar will value around $29, while a coin that is in average condition, mint condition, or uncirculated may go up to $172.

The chart below will help you estimate the 1923 Silver Dollar Value based on its condition and mint marks.



Very GoodVG-8 Fine


Extremely Fine








1923 Silver Dollar $26 $29 $34 $40 $50 $172
1923 Silver Dollar No Mint Mark $20 $20 $25 $27 $30 $110
1923 D Silver Dollar $20 $25 $28 $30 $75 $850

Editor’s Note:

This chart was updated based on today’s market values. Please check the prices from trustworthy sources before making a purchase.

Today, the 1923 silver dollar’s value can go up to hundreds of dollars. Passionate coin collectors and investors always participate in online auctions and keep track of the most trustful vendors. If you want unique pieces of 1923 silver dollars, I suggest you start researching the PCGS market. eBay is also an excellent marketplace where you can sell and buy precious coins like this one.

TIP: The most valuable 1923 silver dollars are those in uncirculated conditions and can go up to $1850 for an MS grade.

1923 Silver Dollar Error

In 1922, the field minters at the Philadelphia mint misinterpreted a deterioration. Hence, a metal blob is quite easy to notice right below the eagle and above the dollar. This error happened due to a crack mint workers found on the reverse side of the die. Seeing silver dollar coins with this error is quite easy. And yes, you can see it without a magnifying glass..

This video offers a complete analysis of the silver dollar’s most common errors.


Although they are quite old, peace dollars are still very popular among passionate and novice collectors. And due to their amazing value, you may be more curious about additional information regarding their particularities. I hope I have answered most of your dilemmas in these questions and answers in the chapter:

Q: What is the rarest ever silver dollar coin?

A: If you want to complete a set of peace dollars, then you must know that there are 24 coins. However, some are rare and difficult to find, especially if you prefer high-grade coins. The rarest silver dollar coin is definitely the 1964-D peace dollar, followed by the 1921 and 1928 peace dollars.

Q: Which are the most precious peace silver dollars?

A: In terms of popularity, the peace silver dollar occupies second place after the Morgan silver coin. Here is a top for most valuable peace dollars:

  • 1921 Philadelphia Mint
  • 1922 Die Break in Reverse
  • 1928 Philadelphia Mint
  • 1934 Double Die Obverse

Q: Is there any 1923 silver dollar shortage?

A: Definitely not. It is quite doable to find all grades of 1923 peace dollars, including MS 65. However, their quantity might be limited for very high grades. Therefore, you need to do a little more research on different suppliers and coin holders.

Q: How do you know a 1923 silver dollar is worth?

A: The easiest way to tell if a 1923 silver dollar is worthy is by checking the mint. The “D” on the reverse means the coin is from Denver mint, while the “S” mark stands for San Francisco mint. However, if there are no mint marks, most likely, the coin was struck in Philadelphia if.

In a nutshell

The 1923 silver dollar coin is a keeper, especially if you are fortunate enough to find some coins in uncirculated grades.

Before making a purchase, check the amount of wear for that 1923 Silver dollar coin, as this is the best way to determine the coin’s market value.

Also Read: 1923 Penny Value Chart: How Much Is A 1923 Penny Worth Today?

Sharing is caring!

Similar Posts

Leave a Reply

Your email address will not be published.