The top 10 most valuable Peace Dollars range from rare key dates to experimental proof strikes that have shattered records at auction. Struck from 1921 to 1935, Peace Dollars were the last circulating silver dollars of the United States, designed to celebrate peace after World War I.
While most Peace Dollars trade close to their silver melt value, certain dates, mintmarks, and varieties are worth thousands—or even hundreds of thousands—of dollars. This guide covers the 10 most valuable Peace Dollars, ranked from the priciest rarities to more affordable key dates, with values for circulated and uncirculated examples.
Table of Contents
1) 1922 High Relief Matte Proof – $465,000+
Why It’s Valuable: The crown jewel of Peace Dollars, this experimental proof combines the dramatic high-relief design of 1921 with a matte finish. Only a handful exist, making it one of the rarest and most desirable U.S. silver dollars ever produced.
- Circulated: N/A (proof-only coin)
- Uncirculated (Proof): $200,000–$460,000+
Collector’s Note: These are not circulation coins but experimental strikes. Their artistry and extreme rarity make them centerpiece coins in elite collections.
2) 1922 Medium Relief Proof (Judd-2020) – $380,000+
Why It’s Valuable: A prototype struck in medium relief, bridging the transition between the 1921 high-relief design and later low-relief coins. These proofs display incredible mirrored surfaces and are among the most breathtaking Peace Dollars known.
- Circulated: N/A (proof-only coin)
- Uncirculated (Proof): $150,000–$380,000+
Collector’s Tip: These coins are technically patterns, but collectors view them as essential high-end Peace Dollar rarities.
Explore The Peace Dollars History
3) 1921 Sandblasted Antique Finish – $130,000+
Why It’s Valuable: A special-finish Peace Dollar struck in 1921 with a sandblasted surface, giving it an antique appearance. Few exist, and their unusual look makes them highly collectible.
- Circulated: N/A (special finish only)
- Uncirculated: $75,000–$130,000+
Quick Fact: Unlike the standard 1921 High Relief circulation strike, this coin was an experimental finish, rarely seen on the market.
4) 1922 Low Relief Matte Proof – $75,000+
Why It’s Valuable: Another experimental proof, this coin has a matte finish but was struck in lower relief than the 1921 issues. With only about 10 believed to exist, they are considered one of the great Peace Dollar rarities.
- Circulated: N/A (proof-only coin)
- Uncirculated (Proof): $50,000–$75,000+
Collector’s Note: They may look dull compared to traditional proofs but are sharply struck with a unique surface texture.
5) 1964-D Peace Dollar (Trial Strike) – $69,000+
Why It’s Valuable: In 1964, the Denver Mint struck over 300,000 Peace Dollars, but the entire mintage was ordered melted before release. Rumors persist that a few survived. If one were ever confirmed, it could fetch millions, though owning one is illegal.
- Circulated: N/A (trial strikes only)
- Uncirculated: Illegal to own; estimated six figures+
Collector’s Note: A legendary coin, comparable to the 1933 Saint-Gaudens Double Eagle in controversy and mystique.
6) 1928 Peace Dollar (Philadelphia) – $30,000+
Why It’s Valuable: The rarest regular-issue Peace Dollar, with a mintage of only 360,649. Even in low grades, it commands strong premiums, and gem Mint State examples are trophy coins.
- Circulated: $250–$400+
- Uncirculated (MS-60+): $700–$2,500+
- Gem MS-65: $20,000–$30,000+
Quick Fact: Known as the “King of Circulation Strike Peace Dollars,” the 1928 is essential for completing a set.
7) 1934-S Peace Dollar – $20,000+
Why It’s Valuable: With just over 1 million minted, the 1934-S is common in lower grades but extremely rare in Mint State. High-grade examples bring five figures at auction.
- Circulated: $40–$80+
- Uncirculated (MS-60+): $1,500–$10,000+
- Gem MS-65: $15,000–$20,000+
Collector’s Note: This is a classic “condition rarity”—affordable in circulated grades but a monster in Mint State.
8) 1927-D Peace Dollar – $10,000+
Why It’s Valuable: With a mintage of just 1.27 million, most entered circulation. Uncirculated survivors are scarce, and gem coins are highly desirable.
- Circulated: $35–$75+
- Uncirculated (MS-60+): $1,000–$3,000+
- Gem MS-65: $7,500–$10,000+
Pro Tip: Many have been cleaned. Original surfaces bring strong premiums.
9) 1924-S Peace Dollar – $10,000+
Why It’s Valuable: Over 1.7 million were minted, but nearly all circulated heavily. Mint State examples are extremely rare, especially with full strikes.
- Circulated: $25–$50+
- Uncirculated (MS-60+): $500–$2,500+
- Gem MS-65: $7,500–$10,000+
Market Insight: Most 1924-S coins are weakly struck. Sharp, lustrous examples are true rarities.
10) 1934-D Peace Dollar (Small D / Medium D Double Die Obverse) – $2,000+
Why It’s Valuable: Some 1934-D coins feature a doubled die obverse, visible on Liberty’s nose and forehead. The small D variety is more valuable than the medium D.
- Circulated: $60–$300
- Uncirculated (MS-60+): $1,000–$2,000+
- High-End MS-65: $3,000+
Collector’s Note: These varieties appeal to VAM collectors and variety specialists.
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Peace Dollar Value Chart
| Date / Variety | Circulated Value | Uncirculated Value |
|---|---|---|
| 1922 High Relief Matte Proof | N/A | $200,000–$460,000+ |
| 1922 Medium Relief Proof | N/A | $150,000–$380,000+ |
| 1921 Sandblasted Finish | N/A | $75,000–$130,000+ |
| 1922 Low Relief Matte Proof | N/A | $50,000–$75,000+ |
| 1964-D Trial Strike | N/A | Six Figures+ (Illegal) |
| 1928 (Philadelphia) | $250–$400+ | $700–$30,000+ |
| 1934-S | $40–$80+ | $1,500–$20,000+ |
| 1927-D | $35–$75+ | $1,000–$10,000+ |
| 1924-S | $25–$50+ | $500–$10,000+ |
| 1934-D DDO (Small D) | $60–$300 | $1,000–$3,000+ |
(Values are estimates based on recent auction results; actual prices vary by grade, luster, and strike quality.)
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How to Spot Rare Peace Dollars
- Relief Levels: 1921 is high relief; 1922 switched to low relief, with rare experimental proofs.
- Mintmarks: Pay close attention to S and D issues—many key rarities are from these mints.
- Varieties: Look for doubled dies, die breaks (like the 1922 VAM-2 Ear Break), and unusual surfaces.
- Certification: Coins worth $500+ should be graded by PCGS or NGC for authentication and value protection.
GoldSilverStacks Key Insights
Peace Dollars are a fascinating series, offering affordable silver coins for beginners and six-figure rarities for advanced collectors. From the legendary 1922 High Relief Matte Proof to the key-date 1928 Philadelphia, these coins highlight the artistry and history of American numismatics.
Key Takeaways
- The 1922 High Relief Matte Proof is the most valuable Peace Dollar at $460,000+.
- The 1928 Philadelphia is the rarest circulation strike.
- Condition rarities like the 1934-S, 1924-S, and 1927-D bring huge premiums in Mint State.
- Experimental proofs and finishes dominate the high end of the market.
- Even lesser-known varieties like the 1934-D DDO can be worth thousands.
How to Authenticate and Grade Peace Dollars
- Counterfeits: Fake 1928s and altered mintmarks are common.
- Strike Quality: Many S-mint issues are weakly struck—grading services weigh strike heavily.
- Certification: For coins worth $200+, professional grading (PCGS, NGC) is highly recommended.
- Tools: Use a 10x loupe, good lighting, and reference images for varieties.
GoldSilverStacks Insights on Rare Peace Dollars
From the one-year 1921 High Relief to the low-mintage 1928, certain Peace Dollars are true keys to the series. While most coins trade near silver melt value, condition rarities and major varieties can command thousands. Collectors value originality, luster, and strike quality above all.
Key Takeaways
- The 1928 Peace Dollar is the rarest regular issue.
- The 1934-S is a top rarity in Mint State.
- High-relief strikes (1921, 1922 proofs) are among the most coveted.
- Certification adds confidence and value for serious buyers.
- Even common dates can surprise in high-grade condition.
Peace Dollars remain one of the most rewarding series in American numismatics. From affordable circulated examples to six-figure rarities, they capture both history and artistry in silver. Always pay attention to strike quality, originality, and certification when considering a purchase—those details often make the biggest difference in value. And remember, even a common-date Peace Dollar can surprise in high grades, making every find worth a closer look.
