High Relief
Deep modeling gives Liberty’s portrait and the eagle unusual sculptural presence, but the relief was difficult to strike fully.
Classic American Silver Dollars • 1921–1935 • Modern Issues
Peace Silver Dollars
Peace dollars commemorate the end of World War I with a bold Art Deco design. The series includes the one-year 1921 High Relief, a compact classic date run, a clear low-mintage key, difficult branch-mint condition rarities, VAM varieties, and modern .999 silver collector issues.
1921–1928 • 1934–1935Classic issues
Anthony de FrancisciDesigner
90% SilverClassic composition
0.77344 Troy Oz.Silver when new
Collector Guide
The last classic U.S. silver dollar
Anthony de Francisci designed the Peace dollar to commemorate peace following World War I. Liberty wears a radiant crown on the obverse; the reverse shows an eagle at rest above the word PEACE.
The first coins appeared in late 1921 with dramatic high relief. A lower-relief version followed in 1922 for practical mass production. Classic coinage continued through 1928, paused, and returned for 1934 and 1935.
The United States Mint revived the design in 2021 in a modern .999 fine silver format. Modern Mint products differ from classic Peace dollars in weight, fineness, manufacture, and market.
The First-Year Type
1921 High Relief Peace dollars
The 1921 is more than the first date—it is a distinct one-year design type with its own grading and strike challenges.
Modified Relief
The Mint lowered the relief to improve production. This practical redesign continued through the remainder of the classic series.
Hair and central detail
Many 1921 coins are weak at the center. Sharply struck hair over Liberty’s ear and strong eagle detail bring premiums.
Coins to Check Carefully
Key Dates & Better Dates
The series is compact, but several branch-mint issues become difficult in attractive Mint State grades.
1928 Philadelphia
The 1928 has the lowest regular mintage of the classic series and is the principal date-set key. Altered dates and counterfeits exist.
1934-S
The 1934-S is available circulated but becomes a major rarity in high Mint State grades with strong luster and acceptable surfaces.
Dates to set aside
- 1924-S and 1925-S
- 1927-D and 1927-S
- 1928-S
- 1934-D and 1935-S
1921 High Relief
Every 1921 is a distinct High Relief type. Grade, central strike, luster, and originality create wide price differences.
1927
The 1927 Philadelphia issue has a lower mintage than most early Peace dollars and deserves separation from common 1922–1925 coins.
VAM collecting
Peace-dollar VAMs include doubled dies, die breaks, clashes, and other die marriages. Only some are broadly collected or premium varieties.
Grade, Strike & Luster
How to evaluate a Peace dollar
Peace dollars are frequently weakly struck and heavily marked, making originality and accurate grading essential.
Confirm date and mint
Look for D or S on the lower-left reverse below ONE. No mintmark indicates Philadelphia.
Check high points
Inspect Liberty’s hair over the ear, cheek, and neck, plus the eagle’s shoulder and wing for friction or wear.
Separate wear from weak strike
Weak central detail may be mint-made. Original luster across the high points helps distinguish Mint State from About Uncirculated.
Judge surfaces and eye appeal
Look for cartwheel luster, cheek and field marks, attractive natural color, and freedom from cleaning or artificial toning.
Do not clean a Peace dollar. Polishing, dipping, and rubbing can destroy luster and create obvious hairlines. Counterfeits, altered dates, and artificial toning are common in this heavily traded series.
Understanding Value
What makes a Peace dollar valuable?
Date & Mintmark
The 1928 is the principal mintage key, while 1934-S and several late branch mints become condition rarities.
Grade
Wear, luster, marks, strike, and eye appeal determine grade. Small differences in Mint State can create large premiums.
Strike
Central hair detail and eagle feathers are often weak. Sharply struck 1921 and branch-mint coins can be especially desirable.
Original Surfaces
Natural luster and color matter. Cleaning, scratches, dull surfaces, stains, and artificial toning reduce liquidity.
Variety
Selected VAM varieties attract specialist demand, but correct attribution requires exact die diagnostics.
Certification
Professional grading helps with expensive dates, authentication, Mint State distinctions, and recognized varieties.
The 1964-D Story & Modern Coins
Two chapters outside the classic set
Struck, then destroyed
The Denver Mint struck 1964-dated Peace dollars in 1965, but the issue was canceled and the coins were ordered destroyed. No example is officially recognized as surviving or legally collectible.
Apparent 1964-D coins
Pieces offered publicly as 1964-D Peace dollars are replicas, fantasy pieces, or alterations unless proven otherwise. They are not part of the collectible federal series.
Modern Peace Dollars
The Mint revived the design in .999 fine silver for collectors. Modern issues should be evaluated by exact product, finish, packaging, grade, and mintage.
NumisMaverick
Buying & Selling Peace Dollars
NumisMaverick buys and sells Peace dollars across the market: common circulated silver dollars, Mint State coins, rolls and groups, 1921 High Relief pieces, key and better dates, VAMs, certified coins, and modern Mint releases.
Keep modern coins in original packaging when possible. Do not clean, polish, dip, or attempt to improve the appearance of classic coins before requesting an evaluation.
Common circulated Peace dollars
Mint State dollars and rolls
1921 High Relief coins
1928 and better dates
VAMs and certified coins
Modern Mint Peace dollars
Common Questions
Peace Dollar FAQ
Are all classic Peace dollars 90% silver?
Yes. Classic 1921–1935 issues are 90% silver. Modern Mint Peace dollars use .999 fine silver and different specifications.
Where is the mintmark?
The D or S appears on the lower-left reverse below ONE near the eagle’s tail. No mintmark indicates Philadelphia.
Why is the 1921 different?
It uses the original High Relief design. The relief was lowered in 1922 to improve mass production.
Is the 1934-S the lowest mintage?
No. The 1928 has the lowest regular mintage. The 1934-S is famous because it becomes very scarce in higher Mint State grades.
Can I own a genuine 1964-D?
No example is officially recognized as surviving or legally collectible. Publicly offered pieces are replicas, fantasy issues, or alterations.
Does NumisMaverick buy common Peace dollars?
Yes. We consider common circulated and Mint State coins, rolls, better dates, varieties, certified coins, modern issues, and collections.
Buying • Selling • Appraisals
Talk with NumisMaverick
Selling Peace dollars, evaluating a 1921 High Relief, or looking for a key date? Contact NumisMaverick. Appointments are scheduled in advance.
Please contact NumisMaverick before visiting.Text is the easiest way to request an appointment.