Face Value: 1922 Peace Dollar

In 1922, the Peace Dollar was in full manufacturing mode during its first complete year of production. Because striking the previous year’s High Relief issue frequently destroyed dies, the relief was reduced, which finalized the design and was used throughout the series’ run. Renewed interest beginning in the 1960s has led to the increased current marketplace value of the 1922 Peace Dollar.

The issue’s value will vary depending on the mint facility, grade and finish. The 1922 Peace Dollar was the last of the series to be issued in Proof (PF) format and not many were struck, so they are rare and worth more than any Mint State (MS) counterpart. Unlike the circulation strikes, the 1922 Proof Peace Dollars are found in both High Relief and Low Relief.

1922 Peace Dollar

According to the NGC Price Guide, a free resource provided by Numismatic Guaranty Company™ (NGC®), an About Uncirculated 1922 Peace Dollar struck in Philadelphia is worth between $6 and $32, while MS issues are worth between $45 to $7,000. The Philadelphia issue has a mintage of 51,737,000; the largest number struck for the series. To learn more about the 1922 Peace Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1922 Peace Dollar from NGC Coin Explorer Click images to enlarge.

1922-D Peace Dollars

The mintmark for the 1922 Peace Dollar is found on the reverse near the tip of the eagle’s tail feathers. The 1922-D Peace Dollars struck in Denver have a mintage of 15,063,000. About Uncirculated coins are valued between $32 and $36; Mint State ones are worth between $50 and $30,000. To learn more about the 1922-D Peace Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1922-D Peace Dollar from NGC Coin Explorer Click images to enlarge.

1922-S Peace Dollar

The San Francisco Mint had a mintage of 17,475,000, and About Uncirculated issues today are worth between $32 and $36. Mint State 1922-S Peace Dollars have an NGC Price Guide value between $55 and $40,000. To learn more about the 1922-S Peace Dollar and see the latest values from the NGC Price Guide, visit NGC Coin Explorer.

1922-S Peace Dollar from NGC Coin Explorer Click images to enlarge.

History of the Peace Dollars

The Pittman Act of 1918 allowed the conversion of circulated silver dollars into bullion to sell or manufacture new silver dollars. In addition, it resumed the acquisition of silver for coin production. The combination of the act and the hope that the victory of the Great War (World War I) would usher in an era of peace led to the creation of the Peace Dollars.

By the time the series ended in 1935, only 24 Peace Dollar date-and-mintmark combinations were issued for the business strikes. Important varieties include 1934-D Double Die obverse, which carries a substantial premium over standard 1934-D Peace Dollars. Explore Peace Dollar varieties in NGC Variety Plus.

A century after the Mint began striking the Peace Dollars, legislation authorized the US Mint to issue new Peace Dollars. These include an Uncirculated version issued in 2021 as well as Uncirculated and Proof versions planned for 2023.

All values are based on the NGC Price Guide as of September 2022.