Though out of date, the 1923 Peace Silver Dollar is still widely recognized as one of those coins made by the United States Mint. The Silver Peace Dollar was primarily created as a symbol of peace following the First World War. It was the second silver dollar issued after the Morgan Dollar. It has been around for about 100 years.
The 1923 Silver Peace Dollar represents America’s post-First World War peace. It features a portrait similar to the Statue of Liberty.
If you collect vintage coins, this is one of the most sought-after dollar coins you should have in your collection. Continue reading to learn more about some of the 1923 peace coin’s standard design features, values, and little-known facts.
What is The 1923 Peace Silver Dollar?
One of the coins the United States minted between 1921 and 1928, 1934 and 1935, is the famous 1923 Peace Dollar. Renowned sculptor Anthony de Francisci designed it, and the Peace coin was the last one made for circulation in America.
Even though the United States minted its last peace dollar in 1935, investors and hobbyists continue to endorse it.
1923 Peace Silver Dollar Design
The peace dollar features a young woman with a crown resembling a ray over her head. The woman’s magnificent statue reflects the Liberty Statue in New York Harbor.
The obverse and reverse faces of the coin are described below:
The Obverse
As mentioned above, the obverse features a prominent representation of a woman known as “Miss Liberty.” She has a sparkling crown of radiant rays on her head. Although some untied hair strands hang along the neck, her hair is nicely shaped and knotted at the back of the head.
The word “LIBERTY” is inscribed over her head along the coin’s rim. At the base of Liberty’s neck, along the coin’s lower rim, is the year 1923. The coin also has a motto inscription, “IN GOD WE TRUST,” written across the lower portion of the design.
Strikingly, the letter’ U’ in the word ‘TRUST’ is written as ‘V.’ You could understandably assume that the sculptor made a mistake, but the twist was undoubtedly done on purpose to stand for the letter “V” for victory. Finally, just below Miss Liberty’s neck, the sculptor’s signature appears as ‘AF.’
The Reverse
The bald eagle depicted on the reverse is perched on a mountain peak. According to popular belief, the olive branch on the American eagle’s claws represents peace. The 1923 peace coin lacks arrow bands, which are frequently linked to military might and are present on other coins with an avian emblem.
The eagle is artistically depicted facing the general direction of the sunrise to convey hope and assurance of a new day of peace. Along the rim of the coin’s top, the words “UNITED STATES OF AMERICA” are inscribed.
Below the nation’s legend is the motto “E PLURIBUS UNUM,” which is also shown on the coin’s reverse. There is a noticeable dot between the first two words of the phrase, and the Latin expression means “one out of many.” This effectively illustrates the US’s resolve and capacity to rally various states to create a single, cohesive nation.
The coin’s denomination is legibly written as ‘ONE DOLLAR’ in a single line at the bottom of the reverse face. The words that make up the denomination are split into two parts by the eagle’s tail feathers. To intentionally convey a solid artistic idea of peaceful coexistence on the coin, the word “PEACE” is positioned on top of the rock on which the bird is perched.
The 1923 Peace Coin’s Dimensions and Composition
Only 30, 800,000 copies of the 1923 Peace Silver Dollar were produced. It has a diameter of 38.10 and a weight of about 26.73 grams, and it is made up of 90% silver and 10% copper.
According to statistics, each silver dollar coin contains an estimated 0.77344 troy ounces of silver. As a result, most silver enthusiasts prefer to keep them.
Significance And Relevance Of Its Design
Persistent lobbying to mark the end of World War I led to the creation of the peace dollar. As a result, it was published five years after the First World War to symbolize a new commitment to coexistence. The coin’s artistic designer’s family life was also significantly impacted, and Anthony de Francisco and his wife Teresa had a happy relationship. Early in her schooling, Teresa was denied the opportunity to play the role of American goodness in a school play.
She became even more upset when she occasionally went on cruises and saw the Statue of Liberty in New York. Anthony used the coin’s design to help his wife achieve her longtime goal of becoming an American model, and she was the model for the coin’s design.
SEE: What is the Value of a Bicentennial Quarter?
Value Of The 1923 Peace Silver Dollar
The silver dollar has an estimated value of $ 29 in average condition and $ 50–$ 172 in uncirculated, mint condition, per old data from the USA Coin Book. Additionally, it has a melt value of $18.11, which indicates that its value was greatly diminished when the coin was melted.
The coin is now highly prized by investors and coin collectors worldwide. The two main criteria collectors use to evaluate and assign value to silver coins are general condition and mintmark.
By 2021, the coin had a silver melt value calculated using the silver spot price of $18.31. One ounce of silver costs $ 23.68 at the spot price.
The current silver dollar prices are listed below:
1923 Silver Dollar Without A Mint Mark
The silver dollar without a mintmark is worth $ 25 in fine condition, and if the condition is in excellent condition, the value rises to $27. A silver coin with an MS 60 grade is worth $30 in uncirculated condition and $110 in uncirculated condition and an MS 65 grade.
1923 D Silver Dollar
1923 D silver dollar in very fine condition is valued at $28 and $30, depending on how fine it is. An MS 60-graded uncirculated dollar coin costs $50.
How To Grade The Peace Dollar
If you’re a coin collector or a silver enthusiast, you might be curious about the state of your century-old coin minted. Even the most seasoned collectors need years to master the art of coin grading.
So how do you evaluate a 1923 peace silver coin’s quality? The three main criteria for assessing the peace dollar are as follows:
Uncirculated
There are no indications of physical abuse or alterations on an uncirculated silver dollar coin. Even though it might be old, it should look like it just came out of the mint. Although its color and tone suggest that it is old, the pictures and the text shouldn’t show any deterioration. Use a magnifying lens to get a clear, distinct view of your coin.
Extremely Fine
An extremely fine coin’s texture, images, and words show little to no tearing or wear. In exceptional cases, Miss Liberty’s crown may appear slightly worn on the 1923 peace dollar coin. The entire coin or some components may feel smooth to the touch because many hands have passed it between various users for years. Yet it still looks good and is in excellent shape.
Fine
The coin can be classified as fine if the text and images on a 1923 peace dollar are clear and in good condition. It should, however, show obvious signs of tearing and wear, and a fine coin might also have a plain appearance.
Good
Good Long-term touching and hand-to-hand contact between multiple users can cause a good coin to lose its best shape and form. It may be challenging to distinguish the coin’s basic features due to significant wear to its writing and imagery. You might need to look closer with a magnifying glass to see its distinctive features.
| Good(G-4) | Very Good(VG-8) | Fine(F-12) | Very Fine(VF-20) | Extremely Fine(EF-40) | About Uncirculated(AU-50) | Unc(MS-60) | Unc(MS-65) | Proof(PR-65) |
| $26 | $29 | $34 | $40 | $40 | $44 | $50 | $172 | – |
SEE: Morgan Silver Dollar Value
1923 Silver Dollar Error
The Philadelphia Mint employees attempted to correct a deterioration in 1922. As a result, it’s simple to spot a metal blob directly beneath the eagle and above the word “dollar.” This error was caused by a crack that mint workers discovered on the die’s back. Even without a magnifying glass, it is pretty simple to see silver dollar coins with this error.
Rare errors on old coins can fetch very high prices. It is worthwhile learning more about the 1923 silver dollar’s notable errors to either acquire a rare coin or sell your coin for a nice profit.
Where To Buy 1923 Peace Silver Dollar?
Dealers and collectors of coins are constantly searching for rare coins to enhance the value of their holdings. The 1923 Peace Silver Dollar has actually experienced a fair amount of price growth in the numismatic market.
Even though some dealers might be more willing to sell their coins for less, it is usually better to find a dealer ready to deal at a higher price. There are a few places you can go if you want to buy your own 1923 Peace Silver Dollar.
One option is to go to an online auction site like Amazon.com or eBay. You can shop around and compare offers from various sellers while taking this route, even though it may only occasionally offer the best prices.
Another option is to go to a coin or currency dealer who specializes in rare coins. These dealers are more likely to have access to specimens of higher quality than those found online, and they will also be more open to providing you with a genuine estimate of your coin’s value.
If you cannot locate a dealer in your area, consider paying for a third-party numismatic evaluation service from a company like NumisMedia.com or PCGS Coin Evaluation Services. With these services, you can estimate the value of your coin and receive detailed images and specifications of each sample they have assessed.