The 1922 Silver Peace dollar is part of a collection that was originally minted from 1921 to 1928, and again in 1934 and 1935. Designed by Anthony de Francisci, the coin was the result of a competition to find designs emblematic of peace.
In the present day, it’s second only to the Morgan dollar in terms of popularity with collectors, due to what it represents, as well as the stunning design.
We’ve prepared a detailed rundown of the 1922 Silver Peace dollar, from the different mint types to info and typical values if you’re hoping to invest in the near future.
1922 Silver Dollar: Mint Types
There are three types of 1922 silver dollars to look out for, along with a couple of variations to the base version.
They all share the same basic design. The front shows the head and neck of the Goddess of Liberty in profile, and the reverse depicts a bald eagle at rest clutching an olive branch, with the legend “Peace”.
1922 Silver Peace Dollar
The base coin was minted in Philadelphia, with a massive 51,737,000 produced overall. It follows the same design noted above, with Lady Liberty on the front, and the eagle/olive branch on the reverse.
There are two variations that tend to attract attention, and both were produced in Philadelphia. They’re either the 1922 Die Break in Reverse Field or the 1922 Die Break at Ear.
The former has a visible crack in the die on the reverse side which resulted in a blob of metal below the eagle and above the word ‘dollar’. The latter is known as the ‘Ear Ring’ variety, with a similar crack that appears on Lady Liberty’s hair just behind the ear.
Either of the variations is extremely popular with collectors and can fetch an exceptionally high price at auction.
1922-D Silver Peace Dollar
Another silver dollar variation is the 1922-D, produced in Denver. They weren’t tasked with producing as many Peace coins as Philadelphia, but 15,063,000 is still a significant amount.
Unlike the P, it has a mint mark, located above the tip of the eagle’s wings on the reverse. The D will be clearly visible as long as the coin is in decent condition. However, there isn’t much difference in terms of overall values compared to the P version.
1922-S Silver Peace Dollar
San Francisco was tasked with producing 17,475,000 silver Peace dollars in 1922. It’s a comparable amount to Denver, and it’s worth a similar amount to the others.
As with the D, it has a mint mark, located above the tip of the eagle’s wings on the reverse. This time it’s an S, making it easy to identify exactly where it was minted.
1922 Silver Dollar: Value
1922 silver dollars were produced in exceptionally high numbers, possibly as it was the first true year of release following a trial run of just over 1m coins in 1921. For example, only 360,649 were produced in Philadelphia for 1928.
For valuable options, we’d recommend either the first year of issue 1921 Peace dollar, minted only at the Philadelphia Mint, or the low-mintage 1928-P.
For 1922 specifically, we’d look to either of the VAM varieties produced in Philadelphia.
Here are the current price estimates for the 1922 Peace dollar
- 1922 Peace Dollar: Extremely Fine ($32) Uncirculated ($36)
- 1922-D Peace Dollar: Extremely Fine ($33) Uncirculated ($37)
- 1922-S Peace Dollar: Extremely Fine ($33) Uncirculated ($35)
1922 Silver Dollar: Info & History
The 1922 silver dollar was originally envisioned as a way to commemorate the peace seen after WW2. This historical significance plays a part in it’s popularity in the present day, especially for collectors who were interested in a piece of Americana.
A Mint press release described the original design of the reverse as “a large figure of an eagle perched on a broken sword, and clutching an olive branch bearing the word, ‘peace'”.
However, the broken sword proved to be a controversial addition, and was removed in time for the 1921 coin’s release following multiple complaint letters from the public, and pressure from the press.
As with many pre-1965 silver coins, it’s heavy, made with 90% silver. It was also the last dollar coin containing silver that was struck for circulation purposes, which makes it more attractive for collectors.
1922 Silver Dollar: Investment Outlook
As the last US dollar coin to be struck for circulation in silver, the peace dollar is always going to be a popular piece for both hobbyists and investors. 1922 was essentially the first release following just 1m being produced a year earlier, and there are many uncirculated versions available as of 2020.
The concept of a ‘Peace’ coin is one that is still relevant in the modern-day, while the 1922 version is coming up to its 100th year of existence. It all adds up for a decent investment option, although there are a few factors to consider first.
It’s worth remembering that the coins were circulated, but they were still seen as a commemorative piece at the time. That means that many were kept in good condition, and there’s an abundance of graded coins that are available today.
A complete set isn’t particularly expensive unless you’re looking at uncirculated versions, or rarer die variations. It makes it easier to collect the 1922 set, and it’s a great place to start if the ‘21 coin is too costly.
It’s worth more than the silver itself, and it’s unlikely to see any significant reduction in price over the next few years. As such, it’s a solid investment option, especially if you have an uncirculated trio of coins.