1922 Peace dollars, as you are probably aware, are stunning, and many people desire to have at least one in their collections. These coins’ value is surprisingly low, mainly because they are not rare.
In fact, about 84,275,000 silver dollars were minted in 1922, making it the highest in American history. As a result, aside from a few special pieces, almost all of them are inexpensive. Let’s find out how much a silver dollar from 1922 is currently worth.
The Production of the 1922 Silver Dollars
The year 1922 saw the production of nearly 45% of all Silver Dollars ever minted. That year alone, 84,275,000 coins were produced out of 109,577,279 minted over the course of fifteen years, from 1921 to 1935.
They were mostly melted in the 1960s. However, they are still very plentiful. Professional estimates place their number at over 15 million, including roughly:
- 10 million 1922 coins totaling 51,737,000 were produced in Philadelphia without a mintmark.
- Denver produced 3 million of the 15,063,000 1922-D coins.
- San Francisco issued 2 million 1922-S coins totaling 17,475,000.
Why did the US Mint produce so many Silver Dollars in 1922? The World War I silver law was the main reason. With the help of the Pittman Act, the government was granted permission to melt 270 million silver dollars in 1918, but it was required to replace them after the war.
1922 Peace Dollar Condition
Preserving coins in top-notch condition can bring decent earnings to collectors. A strong strike with exceptionally full details makes some of the 1922 Peace Silver Dollars highly valued.
Maintaining coins in excellent condition can help collectors make a decent income.
Some of the 1922 Silver Dollars have exceptional full details and a strong strike, which adds to their high value. For instance, a 1922 D Peace Silver Dollar in good condition costs around $20, but a flawless example sold for $690 at a David Lawrence rare coin auction.
SEE: What is the Value of a Bicentennial Quarter?
What is the Value of the 1922 Silver Dollar?
Because there are so many of them, most collectors believe that 1922 Peace Silver Dollars are worthless. On the contrary, it is more valuable than its face value. The reason is that it contains 90% silver. However, your coin type and condition will determine the exact value.
You should be aware that the 1922 Silver Dollar is valued at $17 per troy ounce of silver bullion. The price will differ depending on the coins’ variety, condition, and errors.
The US Mint started creating silver dollars with the new Peace design to honor the peace that followed World War One. Initially, the high relief method was employed by the designer Anthony de Francisci, but this design resulted in many dies breaking due to increased stress.
As a result, the US Mint modified this concept, and coins made between February 13th, 1922, and 1935 were made in low relief. Due to their widespread production, these coins have little value. Except for a few special pieces, their price ranges from $18 to $50. For instance, it is known that in 1922, mints only managed to produce 35,401 high-relief Silver Dollars. A single one, valued at an estimated $137,776, was left after they were all melted.
In addition, only 11 of a small number of high-relief matte-proof 1922 Silver Dollars produced in January and February of 1922 are still in existence. There are hints that a few more have recently been found, but this is still unconfirmed.
Each piece is reportedly worth more than $100,000. Unbelievable as it may seem, one of them recently sold for $329,000 at auction.
1922 Peace Silver Dollar (Normal Relief)
It is an early silver dollar that was struck in Philadelphia without a mintmark and had a typical relief design. It has a diameter of 38.1 mm, weighs 26.73 g (0.8593 troy ounces), and is 90% silver and 10% copper.
In 1922, 51,737,000 copies of the Anthony de Francisci design were produced. In good condition, the coin is worth between $20 and $30, and it still has a value greater than the cost of silver in melt form.
A coin can cost between $52 and $174 in uncirculated (MS+) mint condition. Lastly, a rare proof coin is worth over $82,000.
1922 Peace Silver Dollar (High Relief)
It is an early silver dollar struck in Philadelphia without a mintmark and features a high relief design. It is 38.1 mm in diameter, 26.73 g (0.8593 troy ounces) in weight, and contains 90% silver and 10% copper.
In 1922, 35,401 pieces were produced following Anthony de Francisci’s design. According to USA Coin Book, the only 11 proof coins still exist are individually worth $137,776. One non-proof business striking coin with this design has been documented to exist.
1922 D Peace Silver Dollar
It is an early silver dollar minted in Denver. It weighs 26.73 g (0.8593 troy ounces), has 38.1 mm in diameter, and contains 90% silver and 10% copper.
After Anthony de Francisci designed it, 15,063,000 pieces were minted in 1922. The coin’s value in decent condition is approximately $20 to $30. Most of these are low-quality coins since people often use them in Nevada casinos.
According to USA Coin Book, a piece in uncirculated (MS 65) mint condition reaches $650. The finest-known coin is worth $90,000.
1922 S Peace Silver Dollar
It is a historic San Francisco silver dollar. It is 38.1 mm in diameter, 26.73 g (0.8593 troy ounces) in weight, and includes 90% silver and 10% copper.
Anthony de Francisci designed it, and in 1922, 17,475,000 pieces were produced. In good condition, the coin is worth between $20 and $30.
According to USA Coin Book, a coin may cost up to $2,591 in uncirculated (MS 65) mint condition. The most valuable coin is valued at $41,125.
SEE: 1916-1945 Mercury Dime Value
How to Sell a 1922 Silver Dollar
Getting your 1922 Peace Silver Dollar evaluated is the first thing you should do before selling it. For regular coins, experts use the PR scale, which ranges from 1 to 70, and the condition scale includes the following:
Poor (P – 1), Fair (FR – 2), and About Good (AG – 3) – These coins typically lack apparent features and are smudged and worthless.
Good (G-4) – Because the coin was in circulation for so long, there is significant wear and little to no fine detail. It is not a collectible; hence its value will continue to be low. It is popular right now as a bullion silver coin.
Very Good (VG-8) – Although the coin is severely worn out, the features are still clear.
Fine (F-12) – Liberty’s hair shows signs of wear and tear, yet details can be seen, including big strands that have split.
Very fine (VF-20) – Although Liberty’s hair is thinning, a few distinct hair strands are left. Additionally, some of the eagle’s feathers may be seen.
Extremely fine (EF-40) – The eagle’s feathers are discernible but a little faint, and the hairlines are slightly worn but strong.
MS 60 uncirculated (MS-60) — This coin is bright and free of wear; however, the surface does have some blemishes, stains, and abrasions.
MS 65 gem uncirculated (MS-65) – This coin’s high shine, eye-catching design, and scarcely visible contact marks make it a desirable investment.
Perfect (MS-70) – Under 8x microscopic magnification, the coin is completely faultless. It is a priceless antique piece.
Proof (PR – 65): For proof coins, experts utilize the PR scale, which runs from 1 to 70, like the MS scale. Proof coins with surfaces that resemble mirrors are produced longer under high pressure. They are extremely valuable, highly collectible, and only available in cases or sets.
1922 Silver Dollar Price Chart
| Coin condition | 1922 Peace Silver Dollar (normal relief) | 1922 Peace Silver Dollar (high relief) | 1922 D Peace Silver Dollar | 1922 S Peace Silver Dollar |
| G-4 | $28 | / | $28 | $28 |
| VG-8 | $31 | / | $31 | $31 |
| F-12 | $36 | / | $36 | $36 |
| VF-20 | $42 | / | $42 | $42 |
| EF-40 | $42 | / | $42 | $42 |
| AU-50 | $44 | / | $46 | $46 |
| MS-60 | $52 | / | $62 | $62 |
| MS-65 | $174 | / | $650 | $2,591 |
| PR-65 | $82,493 | $137,776 | / | / |
Summary
From 1921 until 1935, Peace silver dollars were issued in place of Morgan silver dollars. Although some of these coins have survived to the present day, others are rare and expensive.
The tradition claims that Anthony de Francisci was inspired by his wife Teresa to create the new coin, yet the Statue of Liberty’s rays may be seen on Miss Liberty’s head. An American eagle, representing the American dream, is shown on the opposite side.