1922 Peace Silver Dollar Value

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Posted: May 20, 2020

Updated: 02 July 2020

Many factors affect the value of the 1922 Peace Dollar. Two of the most important are the large number manufactured and the shift to a lower relief design. Read more below.

What is a 1922 peace dollar worth?

The Philadelphia Mint minted over $ 51 million in peace in 1922. It was the largest single US Mint silver dollar mint in history. As a result, prices are low on this most common “common date” peace dollar. Good Mint State coins are easy to find and affordable.

Mintage: 51,737,000
Categories disseminated
Very well
Extremely good
About Uncirculated
23 $
$ 24
$ 32

Uncirculated grades
Mint condition 61
Mint condition 63
Mint condition 65
Best known (MS67)
40 $
$ 45
$ 125
$ 35,250

What is a 1922-D Peace Dollar worth?

The circulation of the 1922-D Peace Dollar is more than double that of the 1923-D. Production of the Denver Peace Dollar has fallen sharply in recent years. Mint State 1922-D peace dollars are rarer than 1922 Philadelphia dollars. Many have suffered from wear and tear after being used in Nevada casinos.

Mintage: 15,063,000
Categories disseminated
Very well
Extremely good
About Uncirculated
23 $
25 $
$ 36

Uncirculated grades
Mint condition 61
Mint condition 63
Mint condition 65
Best known (MS67)
$ 50
$ 90
$ 500
$ 90,000

What is a 1922-S Peace Dollar worth?

Large numbers of 1922-S peace dollars went to Nevada casinos. San Francisco was the closest Mint to Reno and Las Vegas. Poor mint quality makes the attractive 1922-S Mint State Peace Dollars difficult to find.

Mintage: 17,475,000
Categories disseminated
Very well
Extremely good
About Uncirculated
23 $
25 $
$ 34

Uncirculated grades
Mint condition 61
Mint condition 63
Mint condition 65
Best known (MS66)
$ 50
$ 90
$ 1,250
$ 41,125

The information on this page does not constitute an offer to buy or sell the affected part (s). Successful and similar examples of this problem may have more or less “best known” and different record auction prices.

High Relief 1922 Peace Dollars

The 1921 Peace Dollar was the only raised version of the coin put into circulation. The Mint suspended production of the Peace Dollar at the end of the year. The pressure required to achieve a full high relief strike was strong enough to shatter coin dies with alarming frequency.

1921 Peace Silver Dollar High Relief

Example of a 1921 high relief peace dollar. Picture: United States CoinBook

Work began immediately to correct this defect. This involved several experiments with the relief on both sides of the coin. 35,401 of a new version of high relief peace dollars were minted in January. The Philadelphia Mint team used four obverse and nine reverse corners to make these 35,000 coins. This was unacceptable for general production. The entire print has been melted for recoining. Or so they said. There are three known survivors of this modified high relief print. These were documents sent to various officials as proof of the test results.

The next attempt was a medium relief design referred to in Mint archives as “modified high relief”. 3,200 of those coins were minted before the only die set broke. These were also melted down, but Mint Manager Raymond Baker kept two that were sent to him for review.

After this disappointment, the model of the peace dollar underwent a major change. The result was the bas-relief design that was used throughout the production of the piece.

$ 1922 proof of peace

At the same time, others at the Philadelphia Mint experimented with Peace Proof dollars. This was the last year that proof that the peace dollars have been minted.

There were four types of Peace Dollars prints made in 1922. A matte or sandblasted finish in top and low relief, and a satin finish, also in top and low relief. There were a dozen or less minted of each kind. The extreme rarity of these pieces is reflected in the prices they get at auction.

HIGH RELIEF

  • Satin: 3 known survivors
  • Matte: 5 to 8 known survivors

BAS-RELIEF

  • Satin: 3 known survivors
  • Matte: 2 known survivors

1922 Peace Dollar: Prints, Low Relief Design

The 1922 Peace Dollar was by far the largest draw on the Peace Dollar. The low relief peace dollars had a softer appearance than the high relief version of 1921. This difference is magnified by the weak strikes observed on some peace dollar mounts.

How does the 1922 Peace Dollar compare to other prints?

  • The 1922 Philadelphia Mint Peace Dollar usually has a full strike. Uncirculated examples can be found with an attractive mint luster. With 51.7 million coins minted, the 1922 Peace Dollar was the largest mintage of silver dollars minted in a single U.S. currency. This huge number meant that several thousand uncirculated 1922 peace dollars were buried in treasury coffers until the 1960s.

    Mint State (Uncirculated) 1922 Peace dollars minted in Philadelphia are quite common in notes up to MS64 (on the 1-70 Sheldon scale). About $ 10 million remains from the 1922 peace survivors, according to the PCGS coin filing service. 2.5 million of them obtained a grade MS60 to MS64 and 75,000 a grade MS65 or above.

  • The Denver Mint 1922-D Peace Dollar often has a softer strike, especially on the reverse. However, those who are completely stricken can be found with some effort. The Denver Mint attempted to correct soft minting by increasing the pressure on the minting press. While this improved the average strike, it increased the coin die failure rate.

    New dies were to be made in Philadelphia and shipped to Colorado. This forced the Denver Mint to continue production at times with cracked dies. Many surviving 1922-D Peace Dollars will have cracks of varying lengths.

    Large numbers of 1922-D peace dollars were put into circulation. Many of them have been to Nevada casinos. Sealed bags of 1000 coins were moved from the Denver Mint to banks and then casinos. This whole trip gave many 1922-D Peace Dollars heavy “bag marks”. Bag marks occur when coins collide when bags have been hung.

    The PCGS estimates that $ 3 million remains from the 1922-D Peace. Of these, he estimates that 100,000 Mint State grades 60-64 and 7,500 have grade MS65 or better. It will take a bit of hunting to find a fully minted coin with little to no bag marks.

  • The 1922-S Peace Dollar shows a weak strike that was sadly common on San Francisco issues. Even the rims are incomplete on some of the San Francisco Peace Dollars produced that year.

    Silver coins were still popular on the West Coast, so bag marks and traffic wear are common. Many were sent to Nevada casinos because San Francisco is much closer than Denver to Reno and Las Vegas.

    Finding a fully minted 1922-S Peace Dollar with good visual appeal is a major challenge. PCGS estimates that 2 million of the over $ 17 million 1922-S peace coins have survived. Far fewer Mint State coins survive, compared to the Philadelphia and Denver issues. PCGS only shows 45,000 extant coins in Mint State 60-64, and only around 1,000 that would have a rating of MS65 or higher. Part of the reason for the lack of Mint State coins is that many of them are used in casino slots.

Peace Dollar reverse designed by Anthony de Francisci

Francisci Peace Dollar

Peace Dollar reverse designed by Anthony de Francisci

Rarity of the 1922 Peace Dollar

The main reason for the low value of the 1922 Peace Dollars is their scarcity – they are not. The 84,275,000 coins produced in 1922 were the highest ever in peace dollars. It eclipsed the second-highest mintage of 56 million coins seen in 1923, and crushed any mintage thereafter.

On the bright side, these numbers mean that a Mint State coin is relatively affordable, even up to MS64. Check out our price guides for 1922 Peace Dollars, below.


DID YOU KNOW?
The 1922 Peace Dollar represents almost 45% of all Peace Dollars ever generated! There were 109,577,279 peace dollars from 1921 to 1935, when production ceased. Of that $ 109 million in silver, more than $ 84 million was minted in 1922.

How many 1922 Peace Dollars are left?

It is estimated that there are still over $ 15 million of the 1922 peace in all classes. (10 million 1922, 3 million 1922-D and 2 million 1922-S.) This is even after the massive melting of the 1960s silver coin. The 1922 is the most common peace dollars’ common date. “.

Why were so many 1922 peace dollars minted in 1922?

The large circulation of Peace Dollars in 1922 was due to a money law of the First World War. The Pittman Act of 1918 allowed the government to melt $ 270 million in silver. To pass the law, he had to agree to replace the dollars melted down after the war.

The minting of new silver dollars began in 1921 when Morgan’s $ 86 million was made. Large-scale production of silver dollars continued until 1923. The $ 84 million of the 1922 peace was followed by the $ 56 million of the 1923 peace. By the end of 1923, over 228 million dollars of silver had been produced.

This allowed the Mint to slow down the production of Peace Dollars in favor of minting smaller coins. America was in the midst of the economic expansion known as the Roaring Twenties. The expanding economy needed more coins.


DID YOU KNOW?
Did you know that the 1922 Peace Dollar gave birth to a famous and rare Lincoln Cent?

Production of smaller coins was suspended in 1922. All three US currencies only made peace dollars that year. However, a need for pennies saw the Denver Mint minting 7 million 1922-D Lincoln cents in January and February. These are the only pennies minted in 1922.

Denver was unable to obtain new Lincoln cent 1922-D dies when the original ones wore out. The Philadelphia Engraving Department was dedicated to making peace dollar dies. The Denver Mint had to polish the original dies several times to continue production. Eventually the mint mark D on the dies was completely polished. The Denver Mint had no choice but to continue minting Lincoln cents with the worn out dies.

This gave birth to the famous “No D” 1922-D Lincoln cent. The only reason we know these “D-less cents” were made in Denver is that no other Mint made pennies in 1922.




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