The value of a 1923 silver dollar (also known as a Peace dollar) depends heavily on its condition, also referred to as its grade, and the mintmark.
Here’s a breakdown of factors affecting the value:
- Silver Content (Melt Value): Each 1923 Peace Dollar contains 0.7734 troy ounces of pure silver. As of August 2025, the price of silver is approximately $31.44 USD per ounce, making the intrinsic silver value roughly $24.30.
- Condition (Grade): Coins in better condition (higher grade) are worth more. Grading ranges from Poor (heavily worn) to Perfect Uncirculated (flawless). For instance, a circulated 1923 S Peace Dollar is valued between $42 and $51, while a pristine, uncirculated one could sell for as much as $29,000.
- Mint Mark: The mintmark indicates where the coin was minted.
– “S” (San Francisco Mint): Coins with the “S” mintmark, particularly in higher grades, can be quite valuable.
– “D” (Denver Mint): While generally more available than the “S”, higher-grade Denver minted coins can still fetch a good price.
– No Mint Mark (Philadelphia Mint): These are generally the most common.
- Rarity and Demand: Fewer coins minted or surviving in higher grades increase a coin’s rarity and drive up its value due to higher demand among collectors.
- Errors and Varieties: Coins with unique errors or varieties are rarer and more desirable to collectors.
Examples of 1923 Peace Dollar Values:
- Circulated Condition (1923 S Mint): Between $42 and $51.
- Uncirculated Condition (1923 S Mint): Up to $29,000.
- Extremely High Grade (MS67+): An elite 1923 Peace Dollar from the Philadelphia Mint graded PCGS MS67+ (CAC) has been offered for $33617.99.
- Very High Grade (MS66 – S Mint): An auction record for a 1923 S $1 MS66 Peace Dollar shows a sale for $29,000.
- Mint State Grades (Various Mint Marks): Prices increase significantly with higher grades, as seen in the NGC Price Guide table, ranging from around $45 for a lower Mint State grade to thousands for a gem.
Note: Coin values can fluctuate based on market conditions, the specific grade assigned by a reputable grading service (like NGC or PCGS), and collector interest. It’s always best to consult with a professional coin dealer or utilize online coin price guides for the most up-to-date and accurate valuations.
Is a 1923 Peace Dollar pure silver?
Great question! Issued from 1921-1935, the Peace dollar is the only U.S. silver dollar struck to commemorate peace. This 90%-silver coin was struck by the prestigious San Francisco Mint during the third year of the series.
Where do I find the mint mark on a 1923 Peace Dollar?
In 1923 mints in Philadelphia, Denver, and San Francisco struck Peace dollars. On the reverse, two of the mints added small mintmarks, “D” to identify Denver and “S” San Francisco. If no mintmark is present, Philadelphia struck the coin.