The Morgan dollar era : ended in 1921, the U.S. Mint began work on a new coin honoring 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 crowning her, exuded optimism and strength. On the reverse, a bald eagle perched on a rock holding an olive branch, left no doubt—this coin was a symbol of peace, not war.
The Morgan dollar era: The Peace dollar wasn’t mandated by Congress—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?
The Peace dollar is a combination of artistry, silver content, and historical symbolism that very few coins have. 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.
- Attractive design – A departure from militaristic symbolism, with soft features and graceful lines.
- Silver content – Each coin contains 0.77344 troy ounces of silver.
- Limited quantity – Minted from 1921 to 1935, none were produced during the Great Depression (1929-1933).
- Accessibility for collectors – Many coins are affordable, while others—such as high-grade 1921 and 1928 specimens—make excellent gifts.
Where to start: 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): First year of issuance; minted in high relief and only at the Philadelphia Mint.
- 1928 (Philadelphia): The lowest mintage of this series, with only 360,649 coins produced.
- 1934-S: Often hard to find in high grades and worth more in AU or better grades.
Fun fact: The 1921 Peace Dollar was minted in high relief, which resulted in the die wearing out quickly. The design was scaled down in 1922 for mass production.
2 The Morgan dollar era – Understand the 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 to the left of the eagle’s tail feathers, near the edge. - Need help identifying mint marks? Download our free Mint Mark Reference Guide.
3. Pay attention to grades and attractive designs
- Peace Dollars are often found in circulation, but uncirculated specimens—especially those with strong luster and minimal markings—are highly desirable.
- Common circulating 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
- Choose coins with clean fields, sharp details, and natural hues. Avoid coins that are overly cleaned—they lose both visual appeal and value.
- Where to buy Peace Dollars
- Coin shows – great for checking luster, strikes, and original surfaces.
- Trusted sellers – look for coins graded by PCGS or NGC.
- Online platforms – eBay, Great Collections, and Heritage Auctions offer a wide selection, but check seller reviews carefully.
- Local shops – a great way to start your collection and ask questions in person.
The Morgan dollar era : Start with common dates (1922-1925) to make grading and visual appealing.
when buying high-value coins, buy certified coins.
Track your collection by date, mint mark, grade and purchase price.
Join collector communities (such as the ANA or online forums) to share knowledge and get tips.
A Lasting Legacy
The Peace Dollar is not just a silver coin—it’s a message. It reflects the optimism of postwar America, the power of numismatic artistry, and the enduring spirit of freedom and peace. Whether you collect for beauty, silver or symbolism, the Peace Dollar is a perfect companion to Morgan—and a natural next chapter in any collection.