Peace Dollar Value: What Yours Is Worth
Every Peace silver dollar is worth at least its silver content — about 0.7734 troy ounces — and the scarcer dates and high grades are worth much more. Struck from 1921 to 1928 and again in 1934 and 1935, the Peace dollar is a 90% silver coin that collectors value for its design and investors value for its metal. This guide covers the silver content, the key dates worth knowing, how grade drives value, and how to tell what your coin is worth.
Key takeaways
- Peace dollars were struck 1921–1928 and 1934–1935, are 90% silver, and contain about 0.7734 troy ounces of silver each.
- Common-date Peace dollars trade near their silver value in circulated grades, with collector premiums rising sharply in high grades.
- Key dates include the 1928 (lowest mintage), the 1934-S in high grade, and the first-year 1921 high relief issue.
- Condition matters enormously: the same date can be worth a small premium worn and a large multiple in mint state.
- A modern 2021 Peace dollar was struck as a collector coin and is separate from the original 1921–1935 series.
How much is a Peace dollar worth?
A common-date Peace dollar in circulated condition is worth close to its silver value — its melt value — which acts as a price floor. Scarcer dates and high-grade examples carry collector premiums on top of that.
So the answer comes in two parts: the silver content sets the minimum, and the date plus the grade set how far above that minimum a coin trades.
How much silver is in a Peace dollar?
Each Peace dollar is 90% silver and contains about 0.7734 troy ounces of pure silver, the same as a Morgan dollar. That metal value is the foundation of every Peace dollar's worth.
At a silver price of, say, $30 per ounce, the melt value is roughly 0.7734 x $30 = about $23.20. Silver moves daily, so check the precious metals value calculator for a current figure.
Which years were Peace dollars made?
The series ran from 1921 through 1928, paused, then resumed for 1934 and 1935. The first-year 1921 coins were struck in a distinctive high relief that wore quickly and was lowered in 1922.
Decades later, in 2021, the U.S. Mint issued a modern Peace dollar as a collector item to mark the design's centennial. It is a separate coin from the original series and is bought and sold on its own terms.
What are the key dates to look for?
The classic keys are the 1928 (the lowest-mintage Philadelphia issue), the 1934-S (common in low grades but a major rarity in mint state), and the first-year 1921 high relief. The 1927 and 1934-D are semi-keys worth noting.
The mint mark — a small letter (D for Denver, S for San Francisco, none for Philadelphia) on the reverse near the eagle — is essential to identifying these dates.
| Date | Why it matters |
|---|---|
| 1921 (high relief) | First year; distinctive high-relief design |
| 1928 | Lowest mintage; classic key date |
| 1934-S | Scarce and valuable in high grade |
| 1927, 1934-D | Semi-key dates worth a premium |
| Common dates (e.g., 1922–1925) | Trade near silver value when circulated |
How much does grade affect Peace dollar value?
Enormously. A common date worn smooth is worth little more than its silver, while the same date in a high mint-state grade can be worth many times more. This is condition rarity at work.
For coins you think are high grade or scarce dates, a trusted grade matters — see coin grading explained and which grading companies to trust before paying a big premium.
How does the Peace dollar compare to the Morgan?
The Peace dollar replaced the Morgan dollar and shares its 90% silver content and 0.7734-ounce silver weight. Many collectors pursue both, and our Morgan silver dollar value guide covers that companion series.
For a broader look at silver dollars overall, including modern issues, see are dollar coins worth anything.
Where should you sell a Peace dollar?
For common dates, an established coin shop or gold and silver buyer will pay based on silver content; ask how the offer compares to melt. For key dates and high grades, a rare coin dealer may pay a strong collector premium.
Get more than one offer on better coins, and leave the coins uncleaned — cleaning a Peace dollar lowers its value.
Frequently asked questions
How much silver is in a Peace dollar?+
About 0.7734 troy ounces of pure silver, since the coin is 90% silver — the same silver content as a Morgan dollar.
What is the rarest Peace dollar?+
In high grade, the 1934-S is the major rarity, while the 1928 has the lowest mintage of the series. The 1921 high relief is the prized first-year issue.
Is a common Peace dollar worth more than its silver?+
In circulated condition, common dates trade close to their silver melt value. Premiums grow with higher grades and scarcer dates.
Is the 2021 Peace dollar the same as the originals?+
No. The 2021 Peace dollar is a modern collector coin struck for the design's centennial. It is separate from the 1921–1935 series and is valued on its own.