1922 Peace Dollar Value (“D” & “S” Marks, VAMs, & More)

Due to their short-lived journey, Peace Dollars are seen as a numismatic gem in American coinage. And so is the 1922 Peace Dollar! Marking the record highest mintage of this series, the 1922 silver dollar can be worth up to thousands today!

But, like their historical value, do all 1922 dollars have the same monetary value? Of course not! There are multiple factors that decide how much a 1922 dollar will fetch. Get into the details of this 1922 silver dollar value guide to know all about it!

Key Takeaways

  • 1922 was the year the highest number of peace dollars were minted from 1921 to 1928. 
  • The Peace Dollars are popular for their customary silver composition of 90% silver and 10% copper. 
  • Due to their scarcity, the 1922 Peace Dollar Matte Finish High-Relief coins are significantly expensive, some of them having been sold for $300,000 or more. 
  • The 1922 silver dollar has many VAM errors, like “doubled leaves,” “field break,” “line in Tiara,” etc., that hike its value up to twice or even thrice. 

Exciting History of the 1922 Peace Silver Dollar

1922 Peace Dollar History

Let’s take a walk down memory lane to see the rise and decline of 1922 silver dollars:

  • 1921: After World War II, the Peace Dollars, portraying the Liberty on the obverse and the eagle on the reverse, replaced the previous Morgan Dollars. The minting of high-relief peace dollars started in Philadelphia. 
  • 1922 – 1928: The minting process of Peace Dollars started at the Denver & San Francisco mints, with the introduction of low-relief peace dollars, which continued till 1928. 
  • 1929 – 1933: The peace dollar’s production halted due to less or no demand in the last year. 
  • 1934-1935: Due to the act that needed the Mint to buy huge amounts of silver, the Mint restarted the production of peace dollars. 
  • 1936 – 2020: No dollars were struck during the period because of no demand in the USA. 
  • 2021 – Present: Inaugurated by President Donald Trump, the modern Peace Dollars, along with Morgan Dollars, were released as uncirculated coins.
1922 Peace Silver Dollar Key Facts
Material (Composition)Silver (90%), Copper (10%)
Minting Location Philadelphia, Denver, San Francisco
Year of Minting 1922
Weight26.73 g
Diameter38.1 mm
Thickness2.4 mm
EdgeReeded
DesignerAnthony de Francisci
Face Value$1
Mint Marks“D” (Denver Mint)“S” (San Francisco Mint)No mint mark (Philadelphia)
Total Mintage 84,275,000 (All Three Facilities)

Design Features on the 1922 Peace Dollar Coin

1922 Peace Silver Dollar Obverse Design

Prepared by Italian-American sculptor Anthony de Francisci, the 1922 peace dollar coin displays some interesting historical design features as follows:

1. 1922 Peace Silver Dollar Obverse:

Here’s what you’ll find on a 1922 dollar’s obverse:

  • A left-facing profile of Lady Liberty, based on Anthony’s wife, Teresa de Francisci
  • Tiara spikes on Lady’s head
  • The word “LIBERTY” running all along the upper half rim, right above Lady Liberty’s head
  • The words “IN GOD WE” of the US motto etched on the bottom left side, in front of Lady’s neck, and “TRVST” written on the bottom right
  • The mint date “1922” carved below the neck/truncation line along the lower edge

2. 1922 Peace Silver Dollar Reverse:

The reverse or tails of the 1922 dollar will bear the following design:

  • A huge heraldic eagle resting on a rock right at the center
  • The word “PEACE” etched at the bottom of the rock
  • An olive branch in the eagle’s talons/claws
  • The country’s name, “UNITED STATES OF AMERICA,” running along the upper half edge of the reverse
  • The US motto, “E. PLURIBUS UNUM,” written below the nation’s name, the letters “S” and “U,” of which are partially hidden behind the bald eagle’s head
  • Rays in the background, emerging from the bottom-right side

3. Coin Composition & Dimensions of the 1922 Silver Dollar:

The 1922 Peace Dollar can be identified with its silver-dominant composition of 90% silver and 10% copper. Besides, this dollar coin weighs 26.73 grams, with a diameter of 38.1 mm and a height/thickness of 2.4 mm.

The 1922 peace dollar coin also features a well-defined reeded edge, just like the preceding Morgan dollar.

4. Unique Identifying Mint Marks

Where the 1921 peace dollars were minted only in Philadelphia, in 1922, all three mints began striking peace dollars.

Among these, the Philadelphia-minted 1922 dollars had no special mintmarks, but the Denver and San Francisco ones did.

  • 1922-S Peace Dollar: You can spot the 1922 $1 coins struck at the San Francisco Mint by a very tiny “S” mintmark etched on the reverse right above the end of the eagle’s tail.
  • 1922-D Peace Dollar: This 1922-dollar coin produced by the Denver Mint will bear a small “D” near the eagle’s tail on the reverse. The 1922-D $1 coin can fetch up to $80 in Almost Uncirculated condition and up to $50,000 or more for the highest mint state grades. 

4 Factors That Affect the 1922 Peace Silver Dollar Value

Scroll down to know which factors and features determine the final price of a 1922 $1 coin!

1. 1922 Dollar Mintage & Rarity

As a matter of fact, the total number of 1922 peace dollars minted was 84,275,000. Among these, the most dollar coins were minted in Philadelphia, making them common and less expensive than the low-mintage Denver and San Francisco-minted ones.

1922 Peace DollarsMintage
1922 Peace Silver Dollar (No Mint Mark)51,737,000
1922-D Silver Dollar (D Mint Mark)15,063,000
192-S Peace Silver Dollar (S Mint Mark)17,475,000

2. Condition & Grading of 1922 Peace Silver Dollar

1922 Silver Dollar Value

The 1922 Peace Dollars hold great value in the realm of historic silver dollars. And that’s why these coins are quite valuable and are treasured by collectors.

Due to their comparatively low availability, even Good to Very Fine condition 1922 peace dollars can fetch up to $30. On the other hand, the high-quality, high-graded mint state 1922 dollars have sold for over $20,000 in previous auctions.

Here are the estimated values a 1922 $1 coin can fetch based on its grade. This price chart is prepared with extensive research of sites like eBay and Etsy and auction houses like Heritage Auctions, Stack’s Bowers, etc.

Coin’s Condition1922 $1 Coin Value 1922-D $1 Coin Value1922-S $1 Coin Value
Good to Very Fine (VF20+) $10 – $20$10 – $25Up to $30 
Extremely Fine (XF40) – Almost Uncirculated (AU50+)$15 – $100$20 – $80$20 – $85
Mint State (MS60 – 65)$30 – $350$25 – $1,000+$20 – $1,600
MS 66+ $400 – $22,000$950 – $60,000+$1,800 – $40,000

3. 1922 Silver Dollar Proof Coins

In 1922, the Philadelphia Mint produced highly detailed proof coins of two varieties: high-relief and low-relief. Besides, the Mint also used two types of finishes for both coins: satin and matte finish.

Very few such proof coins have been found to date, making them extremely expensive in the coin market. In fact, no 1922 Peace Satin Finish High-Relief coins have been spotted or sold so far!

1922 Silver Dollar Matte Finish High Relief Proof Value

Based on some previous auctions, here are the estimated values of 1922 peace dollar proof coins:

1922 $1 Proof Grades1922 Peace Satin Finish Low-Relief Proof Coins1922 Peace Matte Finish Proof Coins
Low ReliefHigh ReliefLow Relief
Below PR60N/A$10,000 – $38,000N/A
PR60 – PR65$20,000 – $108,000$20,000 – $102,000$10,500 – $199,000
PR66 or more N/A$71,000 – $450,000+N/A

In addition, you can also get your hands on the rare 1922 Peace “Die Adjustment Strike” coin, costing $400 – $1,500 in great condition. 

4. 1922 Peace Dollar VAM and Minting Errors

You’ll find many VAM errors in the 1922 peace dollars, which can double or triple the price of a regular 1922 $1 coin!

Here are the 11 most interesting and valuable 1922 Peace Dollar VAMs:

1. Line in Tiara: A small, thin line running across the tiara spikes above the lady’s head, costing up to $400 for an MS64 or 65 grade 1922 $1. 

2. Field Break: A visible breakage in the field on the coin’s reverse. This VAM coin may cost up to $1,500 for high grades like MS64. 

3. Earring: A blob-like hollow break on Lady Liberty’s hair, right where her earring would have been, hiking the 1922 $1 price up to $1,600 (MS64) or $2,500 (MS65). 

4. Extra Hair: A visible break in Liberty’s hair relief, appearing like an extra hair, costing $600 – $1,000 for an MS64 or MS65 grade 1922 silver dollar. 

5. Wing Break: A visible blobby break on the lower wings of the eagle on the reverse, hiking the price up to $800 for high mint state grades. 

6. Doubled Motto: Doubled designer’s mark & letters of the motto “IN GOD WE TRUST” with clear separation lines, costing up to $700 for high grades. 

7. Doubled or Tripled Leaves: Visible double or triple shelving around the olive branch leaves on the reverse. It can hike the 1922 silver dollar up to $750 for a high-grade mint state. 

8. Scar Cheek: A clear breakage line on Lady Liberty’s cheek, looking like a scar, hiking the 1922 dollar value up from $900 – $1,500 for an MS65 grade. 

9. Doubled Tiara: Double-struck tiara lines with prominently visible separation lines near the head. It can be valued up to $1,500 for an MS65 1922 peace coin. 

10. Mustache: A visible relief cut above the upper lip of Lady Liberty, appearing like a mustache, costing up to $1,500 for high-grade mint state 1922 dollars. 

Apart from these VAMs, you can also find the following minting errors in 1922 silver dollars:

11. 1922 Peace Dollar Flipped Over Double Struck: This minting error happens when a struck coin is flipped over in the collar and is struck again. You can spot it by visible traces of the eagle’s wings & rays on the obverse and portrait traces on the reverse. 

This 1922 Peace Dollar error coin is rare and can cost up to $7,000, even in Almost Uncirculated condition. 

Is Your 1922 Peace Dollar Coin Fake?

Since 1922 silver dollars have been greatly demanded by collectors, and some sellers trick them into buying a forged one.

This is why you MUST spot these fake features in a 1922 peace dollar to know if it’s a counterfeit coin or not:

  • Lacking details in the obverse & reverse design
  • Badly shaped/molded letters
  • Weird raised lumps on the surface
  • Colored or finished to look old and circulated 
  • Visible copper lines on the edge
  • Varying weight and measurements than 26.73 grams, 38.1 mm diameter, and 2.4 mm thickness
  • Unnatural lines on the field and relief

One of the most significant dollars in American coinage, the 1922 silver dollar is seen as a precious collectible, just like the 1921 peace dollars. But if you’re confused about how to appraise one correctly, use this price guide, and you won’t need anything else! Happy collecting!

Judith Miller
Judith Miller

Judith is an antique expert with nearly 20 years of experience in the field of antique identification and valuation. She has reviewed over 30 thousand vintage items and has worked with numerous antique shops. She enjoys seeing new places, attending antique shows and events, and sharing her knowledge with people! Know more about me

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