Peace Silver Dollar Mint Marks – An Illustrated Guide
At a Glance:
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- Peace Dollars were minted from 1921–1928 and then again from 1934–1935.
- These 90% silver dollars were minted at one of three mints: San Francisco, Denver, and Philadelphia.
- Some mint marks are rarer than others, such as the 1934-Philadelphia Peace Dollar.
- On this page, learn more about the rarity (and value) of various Peace Silver Dollar mint marks.
Peace Silver Dollar Mint Marks – An Illustrated Guide
Minted from 1921 until 1928 and then briefly from 1934 to 1935, the Peace Silver Dollar is one of the most recognizable United States coins. Since Peace Dollars contain 90% real silver and feature a set of gorgeous designs penned by artist Anthony de Francisci, they remain popular collectible items for silver investors and numismatists today.
Like most U.S. coins, each Peace Dollar includes a mint mark, which is a small letter signifying which U.S. Mint location produced the coin. For the Peace Dollar, three mint marks are possible. A Peace Dollar featuring no mint mark was produced in Philadelphia, the main and largest mint in the U.S. minting system. Peace Dollars with an “S” mint mark were minted in San Francisco, and Peace Dollars bearing a “D” mint mark were minted at the Denver Mint.
The mint mark on a Peace Dollar can directly influence its value. Since mintage figures for the Peace Silver Dollar vary based on both the year of minting and the mint of origin, some mint marks can make a Peace Dollar more valuable than others.
On this page, learn more about Peace Silver Dollar mint marks. Who knows – you might have a rare, hidden gem in your collection of old U.S. coins!
First- What is a Mint Mark?
So what is a mint mark? Put simply, a mint mark is a small letter placed on a coin to tell holders which mint produced their coins. Mint marks can appear on either the obverse or reverse of a coin, depending on the coin series. On the Peace Dollar, mint marks are located on the reverse side.
Mint marks are important to collectors for a couple of different reasons. First, a mint mark tells investors which mint was responsible for producing their coin, which makes it easier for investors to collect a full set of a given coin. More importantly, mint marks are an essential part of what makes certain Peace Silver Dollars rare and valuable. Since some mints produced abnormally low numbers of Peace Dollars in certain years, some coins are harder to find – and more expensive – than others.
In other words, locating the mint mark on a Peace Silver dollar is a good way to figure out how valuable your coin could be.
Where to Find the Mint Mark on a Peace Dollar
Where is the mint mark on a Peace Dollar? Peace Dollar mint marks are located in the bottom-left quadrant of the reverse side, right above the tip of the bald eagle’s wings. Some Peace Dollars have no mint mark, which means that they were produced at the Philadelphia Mint.
Mint marks on modern U.S. coins are usually on the obverse side. This change occurred in 1968, three years after the Coinage Act of 1965 removed mint marks from currency coins in order to discourage collectors from buying up circulating supplies of popular series. But for Peace Dollars, you’ll find a coin’s mint mark on the reverse side above the bald eagle’s wings.
A Brief Primer On the Peace Silver Dollar
The first Peace Silver Dollars were minted in 1921, three years following the end of World War One. After the greatest challenge to peace the world had ever seen, American coin collectors lobbied Congress to create a coin that would commemorate the conclusion of the war. The result was the Peace Dollar, an iconic coin designed by Italian-American sculptor Anthony de Francisci.
Did You Know?
Artist Anthony de Francisci actually used his wife as the model found on the obverse of the Peace Silver Dollar. Learn more about the history of America’s “Lady Liberty” models below!
Before the release of this coin in 1921, the Morgan Dollar was slated to be reintroduced into the economy after the passage of the Pittman Act, which required the U.S. Mint to begin producing a greater number of silver dollars. After intense lobbying from coin collectors, the U.S. Mint settled on a new coin – the Peace Silver Dollar. On the reverse side, the coin features an American bald eagle perched as it watches a rising sun. The inscription “PEACE” rests underneath its talons.
Peace Silver Dollar Mint Marks: Complete Overview
Although Peace Silver Dollars were produced by three separate U.S. Mints, only two mint marks are available from the series. This is because coins minted at the largest U.S. Mint, the Philadelphia Mint, feature no mint mark. What does no mint mark mean on a Peace Dollar? If your Peace Dollar features no mint mark, then it was minted at the original U.S. Mint in Philadelphia.
Below, we’ll take a look at all three possible mint marks that collectors can find on Peace Silver Dollars.
Philadelphia (No Mint Mark) Peace Dollars
From the series’ inception in 1921 until the last circulating Peace Dollar was minted, the Philadelphia Mint produced over 111 million Peace Silver Dollars. This makes the Philadelphia mint mark the most common to find in circulation. Philadelphia Peace Dollars don’t actually feature a mint mark, since the Philadelphia Mint usually doesn’t place a mint mark on coins produced at its facility.
Peace Dollars from Philadelphia usually are not rare, but mintage figures for Philadelphia Peace Dollars in 1928 were the lowest in the entire series. Only 360,649 Peace Dollars were minted at the Philadelphia Mint in 1928, making this coin especially rare and valuable to collectors.
Denver (D) Peace Dollars
Technically, the Denver (D) mint mark is the rarest of all three possible Peace Dollar mint marks. Over the course of the series’ production, the Denver Mint produced just over 27 million Peace Silver Dollars, compared to over 52 million from San Francisco and 111 million from the Philadelphia Mint.
In reality, most Denver Peace Dollars aren’t particularly rare. In each year where the Denver Mint produced Peace Dollars, it minted well over 1,000,000. The least common Denver Peace Dollar is the 1927-D Peace Dollar, of which only 1,268,900 were produced.
San Francisco (S) Peace Dollars
The San Francisco Mint produced the second highest total number of Peace Silver Dollars. Peace Dollars from San Francisco will include a small “S” mint mark on the reverse side above the bald eagle’s wings. In total, the San Francisco Mint produced 52,286,000 Peace Dollars, with dates ranging from 1922-1935.
The rarest “S” Peace Dollar was minted by the San Francisco Mint in 1927. Only 866,000 Peace Dollars were produced that year, compared to the next lowest mintage number, which was 1,011,000 in 1934. 1927-S Peace Dollars are some of the most desirable coins in the series, since they were minted in such low numbers.
Rarest Peace Silver Dollar Mint Marks and Dates
Like all circulating U.S. coins, Peace Silver Dollar values vary based on a combination of factors, including mint marks. Generally, the rarest (and most valuable) Peace Dollars are those that come from low mintage years. The two rarest regular strike Peace Dollars are the 1928 and 1927 Peace Silver Dollars minted in Philadelphia.
All three possible mint marks can be key dates, which are valuable or desirable dates to coin collectors. Below, you’ll find a breakdown of the rarest Peace Dollar year for each mint mark, along with that coin’s mintage.
| Mint Name | Year | Mintage Figures |
|---|---|---|
| Philadelphia (No Mint Mark) | 1928 | 360,649 |
| Denver (D) | 1927 | 1,268,900 |
| San Francisco (S) | 1927 | 866,000 |
What is the Rarest Peace Silver Dollar Mint Mark?
What’s the rarest Peace Dollar? According to the U.S. Mint’s mintage figures, the rarest Peace Silver Dollar is the 1928 Peace Dollar minted in Philadelphia. Only 360,649 Peace Dollars were produced at the Philadelphia Mint in 1928, making it by far the rarest mint mark and date combination in the series.
Although a no mint mark 1928 Peace Dollar is considered the rarest regular strike coin in the series, certain Peace Dollars are far more valuable. Generally, the most expensive Peace Dollars to buy are coins with rare errors and coins in exceptional condition. Even common date Peace Dollars graded MS66 or above can be worth thousands of dollars.
Like all circulation U.S. coins, the value of a Peace Dollar depends on three main factors:
- Rarity
- Condition
- Silver Content
Modern Peace Dollars: Here’s What Investors Should Know
In 2021, the U.S. Mint began the production of a brand new bullion series of Peace Silver Dollars. The new coin was released in 2023, along with the bullion Morgan Silver Dollar, to celebrate the 100-year anniversary of the historic transition between the two distinct coin designs in 1921. While the original Morgan and Peace Dollars were struck using 90% pure silver, the modern variants of these coins feature 99.9% fine silver bullion.
It’s only been one year since these coins hit markets, but they are already proving to be a smash hit among investors. What is the mint mark on a 2023 Peace Dollar? Since the 2023 Peace Dollar was only minted at the Philadelphia Mint, these coins feature no mint mark.
Final Thoughts: Revisiting a Classic Silver Dollar Coin
For nearly 100 years, the Peace Silver Dollar has been one of America’s most recognizable silver coins. Peace Dollars were minted at three mints: Philadelphia, Denver, and San Francisco. Coins minted in Philadelphia feature no mint mark, while Peace Dollars minted at Denver and San Francisco include “D” and “S” mint marks, respectively.
To find the mint mark on your Peace Dollar, look for a tiny letter directly above the tip of the bald eagle’s wings on the reverse of the coin. Some Peace Dollar mint marks are rarer than others, so be sure to give your coins a close inspection before putting them up for sale!
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About The Author
Michael Roets
Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.