Collection: Type 2, Low Relief

Designed by: Anthony DeFrancisci
Issue Dates: 1922-1935
Composition: 90% silver, 10% copper
Diameter: 38.1 mm
Weight: 26.73 grams (412.50 grains)
Edge: Reeded
Business Strike Mintage: 189,570,806
Proof Mintage: None

1922–1935 Peace Dollar Series | The Last U.S. Silver Dollar Struck for Circulation

The Peace dollar, America’s final circulating silver dollar, was issued in lower relief starting in 1922, following the short-lived high relief design of 1921. Minted continuously from 1922 through 1928, and later revived in 1934 and 1935, this iconic coin was intended to commemorate peace following World War I and remains a cornerstone of 20th-century U.S. numismatics.

The obverse features Liberty in radiant profile, inspired by classical statuary, while the reverse depicts an eagle perched peacefully on a rock, clutching an olive branch with the word PEACE inscribed below—an emblematic conclusion to the era of large silver coinage.

Mint History and the 1964-D Rumor

Production of Peace dollars occurred at the Philadelphia, Denver, and San Francisco Mints. A notorious and mysterious postscript to the series was the reported 1964-D Peace dollar, with 316,000 coins allegedly struck at the Denver Mint under congressional authorization. However, all examples were officially destroyed before release. No verified specimens exist today, and like the 1933 Double Eagle, any surviving examples would almost certainly be subject to federal seizure, making this issue one of numismatics' most enduring legends.

Collector Insights and Market Overview

• No true stoppers exist within the series, making it ideal for collectors building full sets.

• The 1928 Philadelphia issue is the recognized key date in circulated grades, with the 1934-S being notably scarce in Mint State.

• Condition rarities dominate the higher end of the market—coins graded MS66 and above from San Francisco ("S") Mint issues, as well as dates like 1927-S and 1928-S, are increasingly difficult to acquire.

• In MS63 to MS64, the majority of Peace dollars remain affordable and accessible, offering excellent value for collectors seeking eye appeal and investment potential.

Why Collect Peace Dollars?

The Peace dollar stands as the last true silver dollar struck for circulation in the United States, minted in 90% silverand weighing 26.73 grams. It offers a beautiful blend of historical significance, aesthetic appeal, and relative affordability. For type set collectors, silver investors, and enthusiasts of 20th-century coinage, Peace dollars offer an ideal gateway into classic American numismatics.

Looking for high-grade, CAC-approved, or toned Peace dollars? Explore our curated selection or reach out for tailored assistance.