The 1922 silver dollar currently has a minimum value of $15.24. However, the state of the coin plays a vital role in determining its value. The reason is that a 1922 peace silver dollar in good condition will cost much less than one in uncirculated condition.
As the second most popular United States silver dollar among collectors, it has become a must for anyone building a collection to acquire this coin. This post will explain everything you need to know about the 1922 silver dollar. Whether you simply want to know its value or learn about its history and types, we have got you covered.
The 1922 Silver Dollar
The peace silver dollar was produced from December 1921 to 1928 and again in 1934 through 1935. It returned in 2021 to celebrate 100 years since its first production and will begin to circulate in 2023.
Also known as the 1922 peace silver dollar, this coin has a fascinating history that reveals the average American’s patriotism and unity in action. Another unique fact about it is that the 1922 silver dollar was the last coin minted in silver.
Of course, its silver constituent (90%) plays a role in increasing its value in addition to the coin’s beautiful appearance. On another note, making this coin brought about the fulfilment of a woman’s childhood dreams.
When the Great War ended in 1918, the United States Mint had to fulfill the Pittman Act by striking millions of silver dollars. This obligation arose from the need to earn money for the war effort, allowing the US to convert millions of standard silver dollars into bullion on the condition of replacing them after the war.
Once the war ended, the country’s mint had to purchase silver from American mines and use them to produce the exact number of converted silver dollars. The fulfillment of this Act initially started with the production of Morgan coins but would later become replaced by the peace silver dollar.
When the production of Morgan coins started, some Numismatists began to push for releasing a coin that would celebrate the peace. Although they couldn’t sway Congress, they succeeded in getting Treasury Secretary Andrew Mellon to approve the Peace dollar in December 1921.
A competition was held among invited sculptors for the design the US Mint would adopt for the coin. Anthony de Francisci emerged the winner with a design for the coin’s obverse and two designs for the reverse. Using his wife as the model for Liberty’s profile, Anthony de Francisci fulfilled her childhood dream representing the famous symbol of peace.
However, the general public disliked the initial design of the coin’s reverse because of the decision to include a broken sword. As explained by the New York Herald, the broken sword represented defeat, not peace. The new design then went into production in December 1921.
Features of the 1922 Silver Dollar
You can easily recognize the 1922 peace silver dollar by the obverse and reverse features on the coin. Knowing these features can also help you differentiate a fake one from an original, although without the experience and training of a professional, it can be pretty tricky.
The coin’s obverse carries Liberty’s profile at its centre with the word “LIBERTY” written above it. Written across the coin but truncated by Liberty’s neck, you will find the famous sentence “IN GOD WE TRUST.”
Finally, the coin’s year, which in this case is 1922, is struck at the bottom of the coin. It is important to note that the liberty silver dollar shows one of the best profile details in the uncirculated form.
On the coin’s reverse, you will see a bald eagle facing the right and holding an olive branch. Above the eagle are the words “E PLURIBUS UNUM,” which directly translates to “Out of Many, One,” and above that are the words “UNITED STATES OF AMERICA.”
Across the lower part of the coin, you will see its face value in words, i.e., ONE DOLLAR, truncated by the eagle’s profile. You can determine a coin’s mint by looking at the area below “ONE” and the eagle’s tail.
The United States Mint initially struck the 1922 liberty silver dollar in high relief but later switched to normal relief. Producing the coins in high relief ensured more details on them but was difficult, and seeing the amount that needed to be made, it had to be stopped.
However, coin collectors simply categorize the peace silver dollars based on their mint mark. Although this factor does little to affect their prices, it is still an excellent way to differentiate the types.
1922-D Silver Dollar
This coin carried the ‘D’ mark on its reverse under the eagle’s tail. It shows that the Denver mint struck it.
1922-P Silver Dollar
This coin has no mint mark because the Philadelphia mint struck it. Coins minted at this facility generally do not carry any mint mark.
1922-S Silver Dollar
Any coin bearing the ‘S’ mint mark indicates that the San Francisco mint struck it.
|Mint Type||Quantity Struck|
|1922-D Silver Dollar||15,063,000|
|1922-S Silver Dollar||17,475,000|
|1922 Silver Dollar (No Mint mark)||51,737,000|
|1922 Silver Dollar (No Mint Mark) High Relief||35,401|
From these figures, you will realize that the peace silver dollar is common in normal relief. However, finding one in high relief is very rare and would fetch a lot of money.
How Rare is the 1922 Silver Dollar?
Coin collectors generally agree that a coin can be considered common if its total struck amount equals or exceeds 10 million. In this case, the total number of minted 1922 silver dollars equals 84,310,401, putting them in the very common category.
Of all its types, the Philadelphia normal relief mint is the most common, followed by the Denver and San Fransisco mints. However, the Philadelphia high relief mint had a total of just 35,401, making it by far the rarest of the 1922 silver dollar.
It is important to note that despite how common this coin is, it remains a solid part of any collection. However, getting one in uncirculated condition will require some patience and a measure of effort.
How much is a 1922 silver dollar worth?
The 1922 silver dollar is worth a little bit more than its weight in silver, with a minimum of $15.24 in theory. However, the prices of sold coins show that it sells for even more, especially in the right conditions.
A coin’s grade determines its grade when selling and directly influences its value. Generally, there are four main grades for a coin, and they are as follows:
Coins in this condition display serious wear. Details like Liberty’s hair strands have blended together, letterings have become shallow, and some would have faded. 1922 silver dollars in good condition won’t fetch much but are said to be in demand as bullion silver coins.
For coins in fine condition, features on the obverse and reverse display wear, and some damage. However, you can see all letterings with the naked eye and most of the profile details.
Extremely Fine Condition
You will notice light wear on a coin in extremely fine condition, especially in the areas of the hair strands above Liberty’s eye and behind her neck. This condition generally depicts a coin’s best condition in a circulated state. As such, it adds more value if your coin is in this condition.
This condition indicates that the coin has never been in circulation. Examining a coin in uncirculated condition under a single light source will reveal an unbroken luster. Look out for any sign of wear around the cheek area of Liberty’s profile. Naturally, there should be no sign of wear.
A coin in an Uncirculated condition has the highest value outside of error and proof coins.
1922-D silver dollar value
Even with barely discernable lettering, a 1922-D silver dollar in good condition sold for $25 on eBay. This sale is quite surprising, but then it shows that your coin can fetch good prices on the right platforms.
Another in about circulated/minted states sold for $28.39, while an uncirculated 1922-D silver dollar sold for as much as $41. Uncirculated 1922-D peace silver dollars with higher grading sell at even higher prices.
1922-S silver dollar value
A 1922-S silver dollar depicted to be above average sold for $31 on eBay, while another went for $34.99 in about uncirculated condition. While this amount looks good for a common coin, others in the uncirculated condition sold for even more.
The prices of 1922-S silver dollars in uncirculated states vary based on grade level. One with an MS-60 grade sold for $80, while another with an MS-62 grade went for $90. With an even higher grade, another sold for $120 at MS-63 grade.
1922 No Mint Silver Dollar Value
The Philadelphia mint struck 1922 peace silver dollars with no mint mark. They are the most common type because of the high total amount of struck coins. Because of their availability, these coins are generally cheaper than the other types.
A 1922 peace silver dollar with no mint mark sold for $25 in good condition. In about uncirculated condition (BU), one sold for $48. Looking at coins with higher grades shows an increase in prices but still not as much as their counterparts of different mints.
An MS-63 went for $115, while another with an MS-64 grade sold for $99.99. Furthermore, we found a 1922 silver dollar with no mint mark that sold for $183.50 at MS-65. Finally, one with an MS-66 grade went for $659.95.
These sorts of coins carry one or more errors that range from double dies to double tiaras. Prices don’t really vary much from standard versions except if the coin has a high uncirculated grade. Generally, you will find 1922 silver dollars with one error of the other selling for $35.61 in about uncirculated condition.
Error coins with higher grades, such as an MS-62, sold for as much as $115.
1922 High Relief Peace Dollar
We mentioned earlier that 1922 peace silver dollars struck in high relief are very rare. According to Coins World, two of these coins sold for much more than their estimated worth.
The first one was graded Proof 67 by the PCGS and sold for $458,250 instead of the estimated $250,000+. On the other hand, the second one had a Proof 64 grade and sold for $102,813 instead of $75,000.
These prices are normal because only 35,401 1922 silver dollars were struck in high relief. Based on this number, finding one in the uncirculated condition is quite a feat, hence, its high value.
Where Can You Sell Your 1922 Silver Dollar?
If you have a 1922 silver dollar to sell, you can choose one of three options to use. The first one is a local coin dealer with the upside of getting the coin graded for free before selling. Another option is the pawn shop, with the same advantage as the first option. However, the downside to both options is that you will most likely get less value for your coin.
The final and better option is to auction it off on an online platform. While you will need to grade the coin before listing, it is not a most, and auctions generally fetch better prices than local coin and pawn shops.
It is important to note that although you don’t have to grade your coin beforehand, doing so will increase the chances of getting more value for it.
The liberty silver dollar took its name from Liberty’s profile on its obverse and celebrates the peace after World War I. It represents the average American’s hope, demonstrating the general public’s power in influencing the outcomes of important decisions.
Coin collectors consider the 1922 peace silver dollar to be common but also agree that it is an important part of any collection. However, finding one struck in high relief is a great achievement and can yield a lot of money.