Peace Dollars are a United States dollar coin that was minted through certain periods of time. For those who are wanting to delve in the world of coin collecting or have been collecting coins for years, Peace Dollars are an area worth exploring.
However, there are certain factors that you need to be aware of which is why we have curated this extensive guide so you can see for yourself whether they are a good investment. This will help to provide you with plenty of knowledge so you can make a well-informed investment with confidence and see if it is the right investment for you.
What are Peace Dollars?
Before you learn whether Peace Dollars are a good investment, it’s important to learn about the history of the Peace Dollar and its production history. This will help you to gain further knowledge of your investment so you can appreciate the background of your purchase.
As mentioned before, Peace Dollars are United States dollar coins that have been minted for circulation through certain periods of time. Prior to the release of the first Peace Dollars in 1921, there was a competition to find the best design that promoted peace. Anthony de Francisci’s design was the winner which has a profile of the Goddess of Liberty on the head side and the reverse side depicting a bald eagle resting on an olive branch.
The first run of Peace Dollars were minted between 1921 to 1928 and again between 1934 and 1935 before beginning once again in 2021.
There was an initial plan to release more Peace Dollars in 1965 and Denver Mint melted over 300,000 Peace Dollars when the plans were abandoned.
These coins are often referred to as the 1964-D Peace Dollar It is thought that all the coins were melted but if any survived or escaped then it is actually illegal to own these coins because they were never authneticated for circulation. Although there have been persistent rumors among the coin collecting community that there are 1964-D Peace Dollars in existence, none have officially been confirmed.
If there was one officially confirmed then this would undoubtedly be one of the most valuable coins ever documented due to the rarity of the product.
What are the most valuable Peace Dollars?
As previously discussed, the 1964-D Peace Dollar would be the most valuable coin if there was one that was officially confirmed; however, as it is thought that all coins were melted and none have been confirmed since, there are plenty of other valuable Peace Dollar coin that you can look out for.
In order to understand why some are more valuable than others, it’s important to understand the circulation process of the Peace Dollar. This is because some Peace Dollars were minted more than others which makes them less desirable as they are less scarce than ones that didn’t have as high a circulation or had an error.
Peace Dollars were produced by three United States Mints: Denver, Philadelphia, and San Francisco overseeing the minting process of the coins. Between the two initial runs of 1921-1928 and 1934-1935, it is thought that around 190,577,000 Peace Dollars were minted in total.
This is an extremely huge number but it is important to note that some years saw more circulation than others. The lowest number of Peace Dollars minted were in 1921 as the production didn’t start until the December of that year. Compared to the 86,730,000 Morgan dollars that were minted in 1921, there were only 1,006,473 Peace Dollars minted that year meaning that their scarcity ranks it among the most valuable Peace Dollars.
The subsequent two years, 1922 and 1923, saw a huge increase in Peace Dollar production as 84,275,000 were released in the former and the 56,631,000 were minted in the latter making them the most common dates that you will most likely come across. The reason why these two dates are so common is because all three mints were taking part in the Peace Dollar production.
Just because some coins are worth more than others, doesn’t mean that purchasing a Peace Dollar from 1922 or 1923 can be a bad investment.
But for those wanting to ensure that they are investing in a coin that is certain to increase in profit over time, it’s worth knowing what coins are likely to generate a high demand. Here are the top 10 valuable Peace Dollars that you should keep an eye out for and their current value:
The most valuable Peace Dollar is the 1924-S which is worth around $1,728,000.
The second most valuable Peace Dollar is the 1928-S which is worth around $1,632,000.
The third most valuable Peace Dollar is the 1934-D which is worth around $1,569,500.
The fourth most valuable Peace Dollar is the 1927-D which is worth around $1,268,900.
The fifth most valuable Peace Dollar is the 1934-S which is worth around $1,011,000.
The sixth most valuable Peace Dollar is the 1934-S which is worth around $1,006,473.
The seventh most valuable Peace Dollar is the 1934-S which is worth around $954,057.
The eighth most valuable Peace Dollar is the 1927-S which is worth around $866,000.
The ninth most valuable Peace Dollar is the 1927 which is worth around $848,000.
The tenth most valuable Peace Dollar is the 1928 which is worth around $360,649
What to look out for when doing your research?
There are certain things you need to consider when looking up the Peace Dollar to ensure that you are getting a good investment. This will mean that you can make a purchase with the confidence that you’ll be able to sell it on in the future for a larger profit margin. Here are some of the factors that you need to consider:
The first thing you need to think about as with any investment is the condition of the coin. The more pristine the coin appears, the more value it will hold. If there is a certified error or misprint on the coin then this doesn’t mean that the coin will suffer in condition and can sometimes even increase the value. The condition of the coin is essential as you want to be sure that you can see all the details.
The next thing you will need to consider is the demand for the coin. The reason why the listed Peace Dollar above are so valuable is because there is such a high level of demand for them. Following on from the condition, coins that have errors or printing mistakes such as the 1922 run can also drive up the demand as the number of coins with a confirmed error will be very limited and therefore drive the scarcity and rarity up.
Knowing which coins are actively selling successfully on the market is always a great place to start as you can see which ones are definitely worth the investment and which ones have the potential to be a good investment.
Where it was minted
As you can see from the sections above, some Peace Dollars have letters next to their name such as 1964-D and others have no letter at all. This will determine where the coin was minted.
All three United States minting presses were involved in the production and circulation of the Peace Dollar with Denver, Philedelphia, and San Francisco mints all producing them. If a Peace Dollar has a “D” besides its name then it was minted in Denver, if it has an “S” besides its name then it was minted in San Francisco, and if it has no letter besides its name then it was minted in Philedelphia.
The reason why this is important is because the demand for specific coins can be determined on where it was minted. This could be due to an error on the coin or if there was a low amount of coins minted from that particular mint which in turn drives up the rarity. Keeping the location of where the Peace Dollar was minted in mind will ensure that you can gage what the demand for the coin is realistically like.
Are Peace Dollars a good investment?
As you can see, there is a lot of information and history to take in but are Peace Dollars a good investment? Technically, yes as they have a composition that is made up of 90% silver meaning that regardless of the year or rarity of the Peace Dollar, it should have a value of at least $15 just because of the silver content alone.
Naturally, the older the Peace Dollar, the more scarce it will be meaning that you are more likely to make even more money from this. For those who are skeptical about investing in a 2021 Peace Dollar, the silver content of the coin is worth considering alone as this will help to retain its value while also driving up its demand in years to come thanks to the large gap between the last official circulation of Peace Dollars.
What year Peace Dollars are valuable?
It probably comes as no surprise that some Peace Dollars are rarer than others. The rarest and most valuable Peace Dollar is the 1964-D. This is because the Denver Mint melted 300,000 Peace Dollars that had the 1964 date printed on them due to a new law that came in that deemed them illegal to own in 1973.
Why is it illegal to own a 1964 Peace Dollar?
Owning a 1964-D Peace Dollar is illegal and they can actually be confiscated by the Treasury Department. This is because they passed a law in 1973 that owning a 1964-D Peace Dollar is illegal after resuming the Peace Dollar production was halted in 1965 and all samples of the 1964-D Peace Dollars were subsequently melted.
There are no authenticated examples of the coin that have arisen in the marketplace although there have been rumors that some coins survived the melting and exist. The United States Mint board officially state that no 1964-D coins survived or escaped the melting meaning that they all remain in the government’s property.
What is the error on the 1922 Peace Dollar?
Some of the most valuable Peace Dollars are so in demand due to errors. One such example is the 1922 Peace Dollar which has an error on the reverse side that is visible without needing any magnification.
When the coins were minted, the Philadelphia mint didn’t recognize a deteriorating die that was included which resulted in a crack on the reverse side that caused a blob of metal. This can be seen above the word “dollar” and below the eagle.
Peace Dollars can be a great investment if you are willing to put the time and effort into sourcing them. Due to their history and scarcity, they can be difficult to come by, but you are sure to generate a profit if you can find one in great condition.
Even purchasing a 2021 for future selling is a smart idea because they have 90% silver content meaning that you can be sure that you will get a profit, even if it is a small margin. So whether you are delving into the world of coin collecting or have been collecting coins for years, Peace Dollars are definitely worth your consideration.