Minted in the aftermath of World War I, the Peace Dollar represents a new era in American history—one defined by resilience, reflection, and the hope for lasting peace. Struck from 1921 to 1935, this elegant silver dollar was more than currency. It was a symbol of national healing, a tribute to the end of global conflict, and the last silver dollar ever produced for circulation in the United States.

From War to Peace: The Birth of a New Dollar

As the Morgan Dollar era closed in 1921, the U.S. Mint began work on a new coin to honor America’s role in ending World War I. The result was the Peace Dollar, designed by Anthony de Francisci. His depiction of Lady Liberty with flowing hair and a rising sun crown reflected optimism and strength. The reverse, featuring a bald eagle perched on a rock clutching an olive branch, left no doubt—this coin celebrated peace, not war.

Congress didn’t mandate the Peace Dollar—it was created by public sentiment and numismatic advocacy. In fact, the American Numismatic Association played a major role in proposing the concept.


Why Collect Peace Dollars?

Peace Dollars combine artistry, silver content, and historical symbolism in a way that few coins do. Here’s why collectors are drawn to them:

  • Historical resonance – A tribute to the end of World War I and the beginning of modern America.
  • Striking design – A departure from militaristic symbolism, with soft features and elegant lines.
  • Silver content – Each coin contains 0.77344 troy ounces of silver.
  • Limited run – Minted from 1921 to 1935 with no production during the Great Depression (1929–1933).
  • Collector accessibility – Many dates are affordable, while others—like high-grade 1921 and 1928 examples—can be prized additions.


Where to Begin: Starting Your Peace Dollar Collection

1. Know the Key Dates

Some Peace Dollars are harder to find or more valuable than others. Notable examples include:

  • 1921 (High Relief): The first year of issue; struck in high relief and only at the Philadelphia Mint.
  • 1928 (Philadelphia): The lowest mintage of the series with only 360,649 coins produced.
  • 1934-S: Often difficult to find in higher grades and commands a premium in AU or better.

Fun Fact: The 1921 Peace Dollar was struck in high relief, resulting in rapid die wear. The design was lowered in 1922 for mass production.


2. Understand Mint Marks

Peace Dollars were produced at three mints:

  • Philadelphia (no mint mark)
  • Denver (D)
  • San Francisco (S)

The mint mark can be found on the reverse, below the word “ONE” and left of the eagle’s tail feathers, near the rim.

🔗 Want help spotting mint marks? Download our free Mint Mark Reference Guide.


3. Focus on Grade and Eye Appeal

Peace Dollars are often found in circulated condition, but uncirculated examples—especially with strong luster and minimal marks—are highly desirable.

  • Common Circulated Grades: Good (G), Very Fine (VF), Extremely Fine (XF)
  • Investment-Grade: Mint State (MS-60 to MS-65+), with higher premiums for 1921 and 1928

Look for coins with clean fields, sharp detail, and natural toning. Avoid harshly cleaned coins—they lose both eye appeal and value.


Where to Buy Peace Dollars

  • Coin shows – Great for inspecting luster, strike, and original surfaces.
  • Trusted dealers – Look for coins graded by PCGS or NGC.
  • Online platforms – eBay, Great Collections, and Heritage Auctions offer wide selections, but check seller reviews carefully.
  • Local shops – A great way to start your collection and ask questions in person.


Tips for New Collectors

  • Start with common dates (1922–1925) to build familiarity with grading and eye appeal.
  • Buy certified coins when purchasing higher-value examples.
  • Track your collection by date, mint mark, grade, and purchase price.
  • Join collector communities (like ANA or online forums) to share knowledge and get recommendations.


A Lasting Legacy

The Peace Dollar isn’t just a silver coin—it’s a statement. It reflects the optimism of postwar America, the power of numismatic artistry, and the enduring spirit of liberty and peace. Whether you collect for beauty, silver, or symbolism, the Peace Dollar is a fitting companion to the Morgan—and a natural next chapter in any collection.