1924 Silver Dollar Value

Collecting coins is a fascinating hobby, especially if you come across a coin minted almost 100 years ago. Old, rare, and valuable, the 1924 Silver Dollar is a lovely addition to any coin collection.

It is hard to find a 1924 Silver Dollar in perfect condition due to the limited mintage quantities and the fact that these coins were struck for circulation purposes. So, if you own a piece in pristine, uncirculated condition, you’ve got yourself a winner! For example, an outstanding 1924 Silver Dollar in MS68 condition was sold for $54,625 on November 3, 2005.

The bare minimum of this bullion coin is $17,91. However, it’s affected by the changes in the precious metals market, so if the price of silver goes up, the value of the coin rises. According to the NGC Price Guide, the 1924 Silver Dollar value in circulated condition is between $30 and $39 and can reach $50,000 in perfect uncirculated condition.

In this article, you will find out just how valuable the 1924 Silver Dollar is. From the coin’s historical significance, features, and valuable varieties to the current market prices, explore the coin’s past and experience the present.

History of 1924 Silver Dollar

The history of the 1924 Silver Dollar, also known as the Peace Silver Dollar begins in December 1921. The Peace Dollar was born as a product of Farran Zerbe’s idea to commemorate peace following World War I. The American Numismatic Association- ANA stood by the idea of its former President and played a vital role in fostering his proposal.      

The first silver dollar from the 1921-1935 Piece Dollar series was struck on December 28, 1921. Due to the ratification of the Pittman Act in 1918, the US Mint was obligated to produce millions of silver dollars. The production was stopped in 1928 when the Pittman Act requirements were fulfilled. However, due to further legislation, the mintage continued during 1934 and 1935.

Interestingly, the Piece Dollar was the first bullion silver dollar minted in the US since 1904. If you compare it with the Morgan Dollar (produced between 1878 and 1904) you will see they are quite similar. The Federal Commission of Fine Arts organized a competition to obtain the coin’s design. Famous and experienced medalists were invited (Victor D. Brenner, Adolph A. Weinman, Hermon A. MacNeil, and others), but the winner was Anthony de Francisci. This young Italian immigrant depicted Lady Liberty after his young wife Teresa and added the motto PEACE for the first time on a US coinage.

Collectors love the 1924 Silver Dollar for its historical significance (spreading the message of peace and hope after the “war to end all wars”) and rarity (low mintage quantity). 

Mintage of 1924 Silver Dollar

The 1924 Silver Dollar was minted in low quantities in only two US Mints. This fact alone raises the value of this bullion coin. Two different series of the 1924 Silver Dollar were produced in the following Mints:

• 11,811,000 pieces of the 1924 Silver Dollar with no mint were produced in the Philadelphia Mint;
• 1,728,000 samples of the 1924-S Silver Dollar bearing the “S” mint mark were minted in the San Francisco Mint.

Many 1924 Silver Dollars were worn out during circulation or disappeared over time. The limited quantities and the small number of survived samples make the 1924 Silver Dollar extremely important to collectors. The San Francisco issues in pristine uncirculated condition with full luster and minimum marks are quite rare and ever more valuable than their Philadelphia counterparts. Both series have beautiful and unique features that make this coin even more appealing to numismatists.

1924 Silver Dollar Features

• Series: Peace Dollars (1921-1935)
• Mint: Philadelphia and San Francisco
• Mintage: Total of 13,539,000
• Designer:  Anthony de Francisci (obverse side of the coin)
• Designer: Anthony de Francisci (reverse side of the coin)
• Composition: 90% Silver, 10% Copper
• Weight: 26,73 grams
• Diameter: 38,10 mm
• Face value: One dollar ($1,00)
• Melt value: $17,91 (9/9/2023)
• Fineness: 0,90
• Edge: Reeded

Anthony de Francisci portrayed the following distinctive features on both sides of the 1924 Silver Dollar:

• On the obverse (front) side, you can see Lady Liberty’s portrait facing left. She wears a pointed crown while her hair’s loose ends float in the breeze. Liberty looks calm and relieved, suggesting that the worst has passed. The obverse has these inscriptions: “LIBERTY” at the top rim of the coin over Liberty’s head, “IN GOD WE TRUST” half of the word on her left and half on her right side. The year of mintage 1924 is struck at the bottom of the coin.     
• On the reverse (back) side of the coin, Francisci depicted the American bald eagle (symbol of strength and peace) with tucked wings resting on a rock an olive branch in his claws, and the sun rising from the horizon. These words are written on the reverse: “ONE DOLLAR” near the middle of the coin, half on the left and half on the right side of the eagle, “UNITED STATES OF AMERICA” at the top rim above the eagle’s head, “E PLURIBUS UNUM” right under this inscription, and “PEACE” at the bottom of the rock. If present, you can see the mint mark beneath the word “ONE” beside the eagle’s tail feathers.

Like in other coin designs, there is a difference between the original design of the 1924 Silver Dollar and the final version released in circulation. Anthony de Francisci, besides the olive branch, portrayed a broken sword in the eagle’s claws on the reverse original design. In his point of view, the broken sword was a representation of peace. However, because of the controversies and misinterpretation of this symbol, the US Mint asked him to change the design.

These are the basic features of the 1924 Silver Dollar. But if you want to determine the value of the coin you should also be familiar with the coin’s varieties and their worth.

1924 Silver Dollar Varieties and Value

There are two varieties of the 1924 Silver Dollar with unique characteristics and value. The first one with no mint mark was produced in Philadelphia, and the second with the “S” mint mark in San Francisco. Check out their value through the PCGS Price Details in our tables:

1.    1924 Silver Dollar No Mint Mark Value

11,811,000 pieces of the 1924 Silver Dollar were struck in Philadelphia. We have included the prices of the samples graded between MS64 and MS67. The difference in value is more than obvious, the higher the grade, the higher the value of the 1924 Silver Dollar. From hundreds of dollars for the pieces in MS64 and MS65 condition to tens of thousands of dollars for the samples in MS67 condition. Quite a progression, don’t you think?

According to PCGS price history, 1924 in perfect MS68 condition can be worth a staggering $120,000.

2.    1924-S Silver Dollar Value

Only 1,728,000 Silver Dollars carrying the “S” mint mark, were struck in San Francisco, which is way less than the ones produced in Philadelphia. Again, their value depends on their condition and grading. As in other coins, no signs of wear, a higher grade, and a sufficient amount of detail give the coin collectible value. In this case, the 1924-S Silver Dollar graded MS66 has the highest value of $45,000 and collectible status.

If you check open market prices, a 1924-S Silver Dollar in an MS68 condition is worth around $55,000. See, there is a huge difference price-wise even between the mint state samples. Starting from the ones covered with marks MS60 to the flawless MS70 examples. According to PCGS data, the highest grade of a 1924-S Silver Dollar is MS68 sold for an astounding sum of $54,625 on one of Heritage Auctions.

3.    1924 Silver Dollar VAM Varieties Value (with and without mint mark)

Besides the 1924 Silver Dollar with and without a mintmark, we have included the prices of the 1924 Silver Dollar recognized VAM varieties (studied and cataloged thanks to the effort of Van Allen and Mallis). There are no VAM varieties graded MS67 or higher. 

The 1924 VAM variety with the highest value is the 1924 Silver Dollar VAM 5A Broken Wing variety graded MS66 worth $1,250. These are some of the 1924 Silver Dollar VAM varieties listed on the PCGS price guide. For more information, you can visit the Official VAM listing.

Errors Affecting the Value of 1924 Silver Dollar

Both experienced collectors and newbies are after error coins because errors affect the value of the 1924 Silver Dollar. As we already explained the 1924 Silver Dollar is collectible due to its low mintage and rarity. But if we consider the errors that may occur, the price can go through the roof! That is why collectors love error coins. They are quite rare, especially the ones with an “S” mint mark. Here are some of the known errors that you may notice on the 1924 Silver Dollar:

• Curved Clip Error

The 1924 Silver Dollar curved clip error occurs when a piece of metal is cut away from the coin, causing a clipped shape out of the coin’s curved rim. Such 1924 Silver Dollar, with not one but two curved clip errors, was sold at an auction for over $100.

• Strikethrough Error

The 1924 Silver Dollar strikethrough error occurs when something gets caught between the dies during mintage, creating to some extent a visible pattern across the coin’s face. In such samples, the coin’s image is not strongly defined. Recently, 1924 Silver Dollars with a strikethrough error were sold on different auctions for $48, $55, $80, and $250.

• Lamination Error

When an impurity gets stuck between the metal layers during mintage resulting in a “flaky” look on the coin’s face the 1924 Silver Dollar lamination error occurs. A 1924 Silver Dollar with a lamination error was sold at an auction for around $50, while another very damaged piece carrying the “S” mint mark was sold for $75. Another 1924 Silver Dollar with a lamination error in perfect condition was sold for an amazing sum of $400.

• Broken Die Error

If the die used to strike the 1924 Silver Eagle gets fractured causing a fractured design on both sides of the coin the broken die error occurs. Two 1924 Silver Dollars with broken die errors were found recently and named the Broken Wing because the fracture cut sharply across the eagle’s wing on the coin’s reverse. One of these broken die error specimens was sold for about $55, and the other for around $150.

1924 Silver Dollar Auction Record Value

If you are a dedicated reader of our articles, you should know by now that it is time for the auction records. This doesn’t happen often, but what we have here is the same auction record for the 1924 Silver Dollar with no mint mark and the 1924 Silver Dollar with the “S” mint mark. The other 1924 Silver Dollars in this auction price category sell for way less and have a lower auction record.

The 1924-S GSA Hoard Silver Dollar (a hoard of several million silver dollars held in the US Treasury Department vaults and later sold by the General Services Administration (GSA) between 1972 and 1980) in mint state has the lowest auction record value of only $75. However, if you do additional research on every 1924 Silver Dollar auction record value, you will find some of the most valuable pieces ever sold on an auction.

Most Valuable 1924 Silver Dollars

To save you the trouble, we have collected the data of the most valuable 1924 Silver Dollars in the last three years, sold on different auctions. This way you will be up to date on current market value and value trends of the 1924 Silver Dollar.

This table is another proof of the 1924 Silver Dollar collectible value. As you can see, the samples in MS67 and MS67+ condition sell for over $10,000. The most valuable piece at the top of our table is worth $38,400. This Silver Dollar has high value due to its MS67+ mint condition, outstanding quality, and surface preservation. 

If you want to find more valuable pieces of the 1924 Silver Dollar, you can visit the 1924 Silver Dollar auction prices for the ones with no mint mark and the 1924-S Silver Dollar for the ones carrying the “S” mint mark.

Conclusion

We have established the collectible value of the 1924 Silver Dollar. All you have to do is take into account the coin’s variety, grade, and quality to determine its worth.

Many factors work in favor of the 1924 Silver Dollar value. Make sure to use every piece of information in this article to see whether the coin you own or try to acquire has the qualities to be a part of your coin collection. If the coin you have set your eyes on has what it takes to be in the family of the most valuable 1924 Silver Dollars, wait no longer! Start bidding now!   

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