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How Much is a 1923 Peace Silver Dollar Worth?

Coin collectors are often looking for the rarest coins with the highest value to add to their collection. One coin that has garnered the attention of many collectors is the 1923 peace silver dollar. The value of this coin varies and can be anything from $30 to $800 and more.

The peace silver dollar is a coin you want to know more about. In this guide, we will be talking all about this coin, its history, and its value. With our guide, you will be able to determine whether you need a 1923 peace silver coin in your collection or not.

How much is the 1923 peace silver dollar worth?

The 1923 silver peace solar is worth much more than its face value today. It is regarded as a vintage coin which means that it is highly regarded among collectors. The value of the coin depends on many factors that have to do with its state and condition.

On average, the peace silver coin can go for about $29 in a fairly circulated condition. This price can be attributed to the precious metal of the coin as well as the coin’s value as a collectible. In uncirculated conditions, the coin can go for hundreds of dollars.

The coin can also be priced by its melt value which is about $18, but this is significantly lower than its average selling piece and is not advisable. We will go further into the exact prices of the coin, the amounts it has been sold for, and the coin grading for 1923 peace silver dollars.

History of the 1923 peace silver dollar


Peace dollars refer to the coins minted by the United States between the years 1921-1928 and in the years 1934 and 1935. The peace dollars were the last silver coins struck by the United States for circulation. They were designed by the sculptor, Anthony de Francisci, and have an interesting history.

The peace dollar was designed as a way to commemorate the end of the First World War. There was a lot of talk about designing something long-lasting to mark the victory so, five years after the war ended, the coin was designed.

The peace dollar coin was supposed to represent a new hope for the world after the war with a focus on peaceful coexistence. The design of the coin has a double history for the country and the designer, Anthony de Francisco.

Anthony was an Italian-American sculptor. He was married to Teresa de Francisco and used her as a muse for the coin design. When Teresa was in school as an actress, she auditioned to play an American goddess in a school play and was rejected.

Due to this, she felt upset whenever she would see the Statue of Liberty. Anthony decided to honor his wife and her dream to be an American model by designing the image on the coin with her as the muse.

Qualities of the 1923 peace silver dollar

For more detailed information about the features of the 1923 peace dollar coin, you can watch this video

The table below shows the face value features of the coin:

Face value price 18 dollars
Materials 905 silver, 10% copper
Weight 26.73 grams
Diameter 38.10 millimeters
Shape Round
Mintage 30,800,000

How does the 1923 peace dollar look?

The peace dollar is one of the United States coins that does not have the image of a past president or historical figure on its surface. Rather, this coin features the image of a young woman, seemingly designed to resemble the Statue of Liberty.

Obverse side


The obverse side of the coin is dominated by the image of a woman, commonly referred to as Lady Liberty or Miss Liberty. The woman’s head is framed by a crown of rays, portraying her radiance and extending to the edge of the coin.

The woman’s hair is styled in a bun behind her head with a few tendrils framing her face and hanging loose at the back. Her face is firm and stoic.

Above Lady Liberty is the inscription of the word “LIBERTY” along the rim of the coin. Below the bust of the woman, the year “1923” is inscribed along the lower rim. A motto is also written across the coin, separated by the woman’s neck and reading “IN GOD WE TRUST” although the “U” is written as a “V”.

Beneath Lady Liberty’s neck is also the signature of the designer. This is a simple and small inscription of the initials “AF”.

Reverse side


On the reverse side of the coin, the dominating image is that of a bald eagle. The bird is perched at the top of a mountain though only the top tip of the mountain is shown on the coin. The eagle is a common American symbol.

On the coin, the bird holds an olive branch in its claw. The branch is representative of the peace that the creation of the coin represents. While other coins that bear bird images have arrow bands to represent military strength, this 1923 peace dollar does not have this symbol.

To the bottom right side of the eagle, there is the impression of rays of light that represent the sunrise. The eagle facing this sunrise depicts hope for dawning peace. Along the top rim of the coin is the inscription “UNITED STATES OF AMERICA”.

Below the first inscription is another saying “E PLURIBUS UNUM” with the first two words of the phrase being separated by a dot. The Latin phrase stands for ‘one out of many’ and represents the strength of the United States and its unity as a country.

Cutting across the bald eagle is the denomination of the coin, written in a bold “ONE DOLLAR” with each word on either side of the poem. Below the bird within the tip of the mountain showed is the single word “PEACE”. This reinforces the message of the coin.

Why does the peace dollar say “TRVST” instead of “TRUST”?

As we mentioned above, the inscription on the obverse side of the coin says “IN GOD WE TRVST” instead of “IN GOD WE TRUST”. Some may presume this to be a mistake but it was actually an intentional move by the designer.

The “U” was replaced with a “V” as a subtle nod to the message the coin is meant to convey. The seemingly out-of-place “V” stands for victory and represents the end of the war.

How much is the 1923 peace silver dollar worth today?

The value of the 1923 peace silver dollar varies according to its condition, mint mark, and many other factors. We will be going over different versions of 1923 silver dollars and how the prices of these versions vary.

Firstly, an average 1923 peace silver value can be valued at an estimated $29. If the coin is in uncirculated condition or mint condition, it could potentially go for up to $180. With a grading of MS 60, the 1923 peace dollar could be sold for $50 while grading of MS 65 can be sold for thousands of dollars.

1923 peace silver dollar with no mint mark

1923 peace silver dollar with no mint mark

If a 1923 silver dollar has no mint mark, this means that it was minted at the Philadelphia mint. The value of a 1923 dollar without a mint mark today is about $25 in fine condition. In extremely fine conditions, the value can increase to up to $27.

Uncirculated 1923 silver dollars with a grading of MS 60 can be valued at $30 while one with a grade of MS 65 can be valued for up to $110.

1923 D silver dollar and S silver dollar

1923 D silver dollar and S silver dollar

With the mint mark, the 1923 silver dollar value is not so much higher than without. A fine condition 1923 peace dollar with a mint mark can be valued for $28. In extremely fine conditions, the value increases to $30. An uncirculated 1923 dollar of MS 60 grade can go for $75.

An uncirculated 1923 peace dollar with a mint mark and grading of MS 65 can be valued for $850.

The markets for the 1923 peace silver dollar

For the 1923 silver dollar, there are two main categories. These are the uncirculated coins and the circulated condition coins. For circulated coins which are usually worn and used, the price of the coin is usually tied to the silver price

Silver is a precious metal and the value of the metal rises and falls. As this price fluctuates, the value of circulated coins also does the same. For people seeking a position in silver bullion, these coins are popular and useful.

For collectors, uncirculated coins are more relevant. Uncirculated coins are also called coins in mint state. We will go further into the different conditions of coins further on in the guide. The silver market does not affect these coins at all.

The value of mint state-grade coins depends on the quality of the coin and the demand for the coin. The top tier of mint state coins are referred to as “gem” mint state and are constantly in demand for their rarity and quality.

1923 price value and grading

Coin grading is usually carried out by numismatic bodies. However, that doesn’t stop individual coin collectors from learning how to grade coins and applying those skills to themselves. Coin grading can be subjective which is why it is usually carried out by bodies with different members.

So, how do you go about grading your 1923 silver coins as an individual? The following guide can help you out.

Uncirculated condition


The uncirculated peace coin can be identified by its unblemished state. The coin doesn’t have any signs of deterioration or errors. It should look freshly minted. While the color of the coin might give away its age, the state of the images and words are clearly visible and show no sign of damage.

Extremely fine condition or very fine condition


A coin with this grade is only slightly worn. The features of Lady Liberty such as her crown may be faded or eroded. The coin may also feel smooth to the touch due to it being passed around for some time.

Fine condition


The fine condition of the coin shows that the words and images are easily recognizable but very faded. The signs of wear and tear are very visible and the appearance of the coin is dull and slightly unattractive. The coin may have a few stains that show its age and use.

Good condition


This coin is not of great quality. The image and wording are very faded and some of the words will be completely rubbed away. The basic features of the coin may still be recognizable but the distinct features will be heavily altered.

The coin value chart below shows the average prices of 1923 silver coins of different grades.

Good (G – 4) $26
Very Good (VG – 8) $29
Fine (F – 12) $34
Very Fine (VF – 20) $40
Extremely Fine (EF – 40) $40
 About Circulated (AU – 50) $44
Uncirculated (MS – 60) $50
Uncirculated (MS – 65) $172

You can purchase a 1923 peace silver dollar on many platforms, both physical and online.


The 1923 peace silver dollar is a unique coin with a rich and interesting history. Like many silver coins, its value far surpasses face value and depends on many different factors. Adding one of these coins to your collection will be an asset.

This coin also provides unique value to collectors of silver coins specifically or collectors who are looking for peace dollars for their collection. While coins in mint and uncirculated state can be very rare, they are not impossible to find.

The 1923 peace coin only had a limited amount made so the value of good quality peace coins remains very high. There are still many uncirculated and extremely fine 1923 peace dollars available.

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