The silver Peace dollar is by far one of the most collectible coins produced by the U.S. Mint. Due to their limited quantities, professional and beginner coin collectors strive to have one of these unique coins in their collection.
Regardless of the type of coin, silver Peace Dollars are nearing antiue status (100 years or older). Due to this, you can expect them to have visible signs of wear and tear. There is nothing unusual about these flaws, considering the 1924 Peace silver dollars were minted for circulation purposes.
While a 1924 Peace silver dollar in good condition values at around $23, the S peace dollar’s value can increase to more than $9,000 in MS 65 condition. Peace dollars in extremely fine or proof condition, or those with rare errors can even fetch a small fortune.
The 1924 Silver Dollar History
The history behind 1924 silver dollars is strongly connected to the economic boom and the need to replace all the Morgan dollars that were melted down following the Pittman Act. At the very end of World War I, when the fighting was still fresh in peoples’ minds, 7 years before the Great Depression, Peace dollars entered into circulation.
With great social significance, these beautiful coins were designed by Anthony de Francisci. The name of the coins is also symbolic as they commemorate the end of the war.
What makes this coin so precious, besides its sentimental value, is its composition: 90% silver.
Interesting fact: this type of coin was the last silver dollar put into circulation in America until the distribution of the Eisenhower dollar, followed by the Susan B. Anthony dollar later on.
The 1924 Peace Dollar Design
The final aesthetic of silver peace dollars materialized after a competition to design the pattern. Italian sculptor Anthony de Francisci won the honor of designing this important coin.
The sculptor’s main goal was to capture the “spirit of the country – its intellectual speed, vigor, and vitality.”
The 1924 Peace dollar is 90% silver and 10% copper. It weighs 26.73 grams, measures 38.1 millimetres in diameter, and has a reeded edge.
Now, let’s analyze both sides of the coin and understand the significance of each element:
The 1924 Peace dollar obverse reveals the portrait of Lady Liberty facing left and wearing her trademark, radiant crown. The inscribed word, LIBERTY, encircles her crown, while below the portrait you will see the IN GOD WE TRUST motto and the date.
The reverse side includes a bald eagle. The bird sits on an olive branch, symbolizing friendship and peace. The idea of unity and order is reinforced by the word “PEACE,” written below the eagle. Rays of sunlight enhance the background, giving a sense of tranquility.
Two distinct designs were suggested for the coin’s reverse. The first one included an eagle breaking a sword, while the second version had the same bird standing on the olive branch. Initially, the broken sword was the winning design. Nevertheless, after a public debate that voiced different concerns about the defeatist symbolism of this element, the broken sword was replaced by the olive branch.
This video offers a nice close-up of the design’s most beautiful details.
1924 Silver Dollar Value
Multiple factors can influence the final value of an old, precious coin. The grading system, the mint marks, and possible errors can either raise or decrease your 1924 silver dollar’s value.
Let’s take each of these factors and explain how they influence the final price of a collectible coin.
The Grading System
Determining an old coin’s grade can be a complex activity and is quite a subjective process. Thus, if you want to be one hundred percent sure about your coin’s quality, you should ask an expert coin grader.
These professional coin graders know how to examine these coins by closely looking at different details and checking how time has influenced the overall condition.
The better the condition, the more valuable the coins will be. But what happens if you cannot find an expert nearby? Or you are purchasing precious coins online?
The easiest way is to determine the overall condition is by yourself. You can do this by closely examining both sides of the coin. Do you notice any imperfections in the coin’s images, color, texture, and wording? Here is everything you need to know about how to grade 1924 silver dollars:
Uncirculated 1924 Silver Dollars
These are the most precious peace dollars, as they show no signs of wear or imperfections. Besides their age, which is nearly 100 years, a peace dollar in this condition would look freshly minted.
Therefore, expect no signs of wear and tear and the original surface shine. Sometimes, the coins might take on a slightly different shade due to their age. This is an outstanding example of an uncirculated 1924 silver dollar from eBay.
If you want to be sure of the coin’s quality, you can easily use a magnifying glass and examine all the little details to search for possible signs of wear.
Extremely Fine Condition
Right below the uncirculated condition are the extremely fine 1924 silver dollars, showing really minor signs of wear, so expect the images and wording to look bright. However, some tiny details might look worn due to age.
On top of that, the coin’s texture will now be smoother overall. Silver dollars in extremely fine condition are an excellent piece in any collection and still very attractive. Their “average” value is around $40.
The 1924 silver dollars in fine condition have most of their details still intact and detectable. However, you may notice some surface wear marks. The most affected parts will be the lettering or images, so expect smoothened surfaces and a finish that might appear duller.
Last but not least, Peace dollars in good condition have many more signs of wear. Consequently, you might need a magnifying tool to determine these coins’ year, mint, and coin type. Coins in good condition are very common. Due to their affordable price, they can be a good starting point for any passionate collector.
1924 Silver Dollar Mint Marks
Mint marks are also an essential indicator of a Peace dollar’s value. The US minted the 1924 silver dollars in two mints: Philadelphia and San Francisco. The mint mark can be found on the coin’s reverse side, beneath the word “ONE” .
|Series||Mint Location||Mintage (number of coins minted)|
|1924 (no mint mark)||Philadelphia Mint||Almost 12 million pieces|
|1924-S||San Francisco Mint||1,7 million pieces|
Mint marks are an excellent indicator of the 1924 silver dollar’s value. For instance, the presence of the “S” mintmark usually leads to higher values, especially if the coin is in excellent condition.
In online auctions, the 1924-S dollars can be worth a fortune, like this one, the all-time auction record according to PCGS, a peace dollar that sold in 2011 for $54,625 in MS66 condition!
1924 Silver Dollar Price Chart
This price chart is an overview of the 1924 silver dollar average prices intended as a rough guide. These values were correct at the time of writing according to the USA Coin Book.
|Good||Very Good||Fine||Very Fine||Extremely Fine||MS
|1924 Silver Dollar No Mint Mark||$23||$26||$31||$37||$41||$48||$172||–|
|1924-S Silver Dollar||$23||$26||$31||$37||$46||$245||$9,675||–|
The price jump from good condition to uncirculated status is quite extreme, especially the San Francisco 1924 Peace silver dollars. Be aware that these prices are only an estimation and they might differ from one seller to another.
1924 Silver Dollar Errors
Various errors might appear on 1924 peace dollars, such as reverse sharp strikes or the obverse side missing some parts of the central section of Lady Liberty’s hair. Sometimes, you might notice a weakness in the striking above Lady Liberty’s head too.
Expect such errors on silver dollars to be quite noticeable, mainly due to the larger size of these coins which makes flaws easy to detect. Some errors have been given a name such as “Broken Jaw”, “Extra Hair”, and “Clashed E”. This error coin termed the 1924 “Broken Wing” Peace dollar sold for an auction record of $2,232.50 in 2015!
For instance, this coin has a striking error covering a large part of its surface.
Q: What’s the main strategy in collecting Peace dollars?
A: There are multiple strategies for collecting silver Peace dollars. One of them is completing the portfolio by acquiring the first four Philadelphia Mint issues from 1922 through 1925. During these years, Peace dollars were minted in low relief. Thereby, collectors can obtain a set of four coins with consecutive dates.
Q: Why does “Trust” look like “Trvst” in the “In God We Trust” motto?
A: The word “Trvst” is intended to look like the word “Trust” but with a sneaky “v” inserted in the middle. This is intentional and was meant to symbolise a v for victory following WWI.
Q: What are the rarest 1924 Peace silver dollars?
A: While the Peace dollars in MS-63 condition are quite easy to get, coins graded with MS-65 and higher are much scarcer. Error coins in high condition are also extremely rare so count yourself lucky if you find one of these.
Also Read: 1928 Silver Dollar Value Chart (1928-s $1 Ms65+ Sold For $78,000)