The 1923 Peace Dollar is one of the most popular silver coins ever produced by the United States and a staple for investors and hobbyists alike. The coin represents a significant time period in not only American history, but world history and its relatively large production numbers mean that it’s a realistic buy for all different levels of collectors.
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The peace dollar would be minted from 1921-1928 and then once again from 1934-1935. It originally got its name because of the desire to find a way to pay tribute to the end of World War I and the peace that accompanied it.
For coin investors and casual collectors alike, the 1923 Peace Dollar remains popular with plenty of demand. With the 100th anniversary of this coin approaching fast, collectors may want to add this item to their collection before the excitement grows around the centennial.
On one side of the coin, we see the head of Lady Liberty as she looks towards the left side of the coin. Perched on her head is a crown of rays that pay homage to the Statue of Liberty, while above that an inscription displaying the word “Liberty” has been etched to follow the top of the coin. Below the head of Lady Liberty, we have the words “In God We Trust” etched right above the year of production.
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The other side of the coin has an American bald eagle, holding an olive branch that symbolizes the peace of this time period, which is at an angle that is supposed to represent the promise of peace in a new world.
This design is very patriotic and that may be one of the factors that has kept it in such high standing with collectors for such a long time. The combination of the American bald eagle with the Lady Liberty creates a coin that is appealing to look at and creates a rush of American pride.
1923 Silver Peace Dollar Types
There are three types of 1923 Silver Peace Dollars produced and they are easily told apart as long as the wear and tear on the coin is not too drastic. There were three different mints where this type of coin was produced, and each mint has a unique mark that lets collectors know in which city it was made.
1923 Silver Peace Dollar (D)
The 1923 Silver Dollar marked with the letter “D” as the mint mark was made at the Denver national mint. Denver was the location with the smallest production numbers when compared to the other two.
There were around 6,811,000 1923 Silver Peace Dollars produced at the Denver mint which makes this the mint that produced the lowest quantity.
1923 Silver Peace Dollar (S)
Look at your 1923 Silver Peace Dollar and find an “S” in the mint mark spot and you can be sure that your coin was produced at the mint in San Francisco. San Francisco produced significantly more coins than the Denver mint but still quite a few less than Philadelphia. In total, there were around 19,020,000 coins produced at this west coast mint.
1923 Silver Dollar
The third and final variation of this coin has no mint mark at all, and this means that it was manufactured in Philadelphia. This mint was where the largest quantity of 1923 Silver Peace Dollars was created as the total number is estimated to be around 30,000,000. However, that number does include coins that would have been melted, destroyed, or never released, therefore the number of coins that were really released should be smaller and the original number should be used as an approximate.
1923 Silver Peace Dollar Values
The first factor that will affect the value of your 1923 Silver Peace Dollar would be the mint at which it was made. A small mint mark will help the collector identify which mint the coin was produced at and help accomplish the first step towards determining the value of your coin.
1923 Silver Peace Dollar (D)
1923 Silver Peace Dollar (S)
1923 Silver Peace Dollar
The value of your 1923 Silver Peace Dollar will not only depend on the mint at which your coin was made but also the condition of the coin. Given the old age of these coins, ones that hit the market can often show the wear and tear that one-hundred years of existence can have on a coin.
Depending on the beating that your coin has taken on its journey over the last century it will affect the grade that your investment will receive when submitted to a coin-grading company. Considering that the price will vary depending on the grade received, it’s important to make sure that you take good care of your 1923 Silver Peace Dollar to ensure that it will be as valuable as possible.
1923 Silver Peace Dollar Information History
When it came time to find a design for the Peace Dollar that would commemorate the beginning of a new dawn, the question of who would design it was a big one. Since the coin was made to represent such a significant moment in history, it was decided that the production would be large enough that the coin would not go out of circulation quickly. This coin was not going to be a flash in the pan but rather from the start was planned as to be a significant piece of memorabilia that would have lasting power and influence.
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Thus, with the pressure of the coin being produced in large numbers as well as being culturally significant, it was a big deal who would get the chance to create the design and there were eight sculptors who were invited to submit designs with the reward of $1500 to the winner as an added incentive.
Anthony de Francisci was the youngest of all the competitors and lacked the coin designing experience that some of his peers had. Due to a lack of time, de Francisci had to use his wife as the model for Lady Liberty but the decision would work out well as evident by the legacy of the coin.
The selection committee obviously did a good job as de Francisci’s design helped propel the coin to the iconic status it holds today.
1923 Silver Peace Dollar Investment Outlook
While this coin was widely manufactured and thus will never have the extreme rarity that pushes it to ridiculous prices, it’s enough of an icon that it will always be worth more than the sum of its parts and is a good buy.
Any coin that can remain relevant one hundred years after production is worth a good look at for any investor interested in the world of coins. This coin is worth much more than just the 90% silver it contains, instead it’s a classic piece of American history that is a great option for those looking to start a coin collection or for more experienced collectors.
Being worth more than the melt value is a good sign that should always have investors excited. These coins fill a role as they fulfill that condition yet aren’t selling for a ridiculous price that would make them inaccessible to a majority of collectors.