Silver Coin Melt Value Calculator · 1921-1935 Peace Dollar

Determining the current price of 1921-1935 Peace Dollar is a straightforward process once you know the silver content, the weight, and the current market rate, often referred to as the spot price.

Description		Face Value	ASW	Per Coin	Per $1 Face	Per Bankroll
Today's Silver Price
Peace Dollar	1921-1935 Peace Dollar	$1.00	0.77345051	$56.29	$56.29	$562.92

Peace Dollar Melt Value

The Peace Dollar holds a unique place in American numismatic history as the last silver dollar struck for general circulation. Minted from 1921 to 1928 and again in 1934 and 1935, it was designed to commemorate the end of World War I and the return of peace — a sentiment captured in its iconic design by sculptor Anthony de Francisci. With the same 90% silver composition as the Morgan Dollar, each Peace Dollar contains 0.7734 troy ounces of pure silver, making it equally attractive to bullion investors and collectors.

This guide covers the coin's silver content, melt value formula, mint history, key dates, and investment potential.

Quick Facts About the Peace Silver Dollar

Specification	Details
Designer	Anthony de Francisci
Minted Years	1921–1928 & 1934–1935
Silver Content	90% silver, 10% copper
Actual Silver Weight (ASW)	0.7734 troy ounces
Weight	26.73 grams
Diameter	38.1 mm
Edge	Reeded
Face Value	$1.00
Melt Value	0.7734 × Spot Price of Silver

Design Overview

Obverse: A radiant portrait of Lady Liberty wearing a spiked tiara, facing right. De Francisci modeled the design on his wife, Teresa. The inscription "LIBERTY" arcs above, with the date below.
Reverse: A bald eagle perched on a mountain peak, facing left, with the word "PEACE" inscribed on the rock beneath. The eagle holds an olive branch — a deliberate departure from the arrows clasped on earlier dollar designs.

Where Were Peace Dollars Minted?

The mint mark appears on the reverse, just above the eagle's tail feathers to the left. Three facilities produced Peace Dollars:

Philadelphia (no mint mark) — Largest mintages most years
Denver ("D") — Active in most years of production
San Francisco ("S") — Lower mintages; several S-mint dates are key coins in the series

No Peace Dollars were struck between 1929 and 1933, a gap that reflects the economic disruption of the Great Depression era.

Understanding Peace Dollar Melt Value

Each Peace Dollar contains 0.7734 troy ounces of pure silver — identical to the Morgan Dollar. Calculate current melt value using the live spot price of silver:

Silver Melt Value = 0.7734 × Current Silver Spot Price

Roll (20 coins): 15.468 troy oz silver
$10 face value (10 coins): 7.734 troy oz silver

Common circulated Peace Dollars in lower grades typically trade near melt value, while key dates and high-grade specimens carry meaningful numismatic premiums above the melt floor.

Key Dates and Rare Peace Dollars

Key Date	Notable Details
1921	First-year issue struck in high relief; design was modified to lower relief in 1922. Most valuable in high grade.
1928	Lowest mintage of the series (360,649); highly sought in all grades
1934-S	Scarce San Francisco issue; significantly higher value in circulated grades compared to common dates
1935-S	Final year of the original series; popular with type collectors completing a Peace Dollar set
1922 High Relief (Trial Strike)	Extremely rare pattern; not a circulation issue — referenced for collector context only

Modern Reissues: 2021 Peace Dollar Centennial

In 2021, the U.S. Mint released a modern commemorative Peace Dollar to mark the coin's 100th anniversary. These collector editions do not carry 90% silver and are not part of the original circulation series, but remain popular with modern collectors.

Investment Potential of Peace Silver Dollars

Identical Silver Content to Morgan Dollars: At 0.7734 oz ASW, Peace Dollars offer the same bullion value as the more widely collected Morgan series, often at lower premiums for common dates.
Strong Collector Demand: The series is shorter than the Morgan series, making a complete set more attainable and supporting sustained collector interest.
Historical Significance: Struck as a deliberate symbol of peace following WWI, the coin carries historical weight that resonates with both collectors and investors.
Common Dates Near Melt: Most 1922–1927 Philadelphia issues trade close to melt, providing a low-premium entry into a .7734 oz silver coin.

Final Thoughts

From 1921 to 1935, the Peace Silver Dollar served as the final chapter in American silver dollar coinage for general circulation. Its combination of historical resonance, substantial silver content, and accessible pricing for common dates makes it a compelling choice for both new and experienced precious metals investors.

For live melt values based on current silver prices, use our silver coin melt value calculator. Consult a qualified numismatist before purchasing key-date specimens.