What is the Rarest Peace Silver Dollar?
At a Glance:
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- The rarest Peace dollar is likely the 1964-D, of which no verified specimens exist.
- The regular strike Peace dollar with the lowest mintage is the 1928-P Peace dollar.
- With only 10 estimated surviving coins, the 1922 High Relief Matt Proof Peace dollar is also very rare.
- On this page, learn the story behind the rarest Peace silver dollars.
What is the Rarest Peace Silver Dollar?
The Peace dollar is one of the most popular and iconic coins in U.S. history. Minted with 90% silver, the coin’s instantly recognizable designs and place in American history make it a staple for rare coin collections everywhere. The first Peace dollar was minted in 1921, and the series continued until its discontinuation in 1935.
For coin collectors, building a full set of Peace dollars can be a challenge, but it’s certainly not impossible. Unlike the Morgan dollar, this series has few true stoppers, or coins that are too expensive for the majority of investors to afford. That being said, there are several rare Peace dollars that are more difficult for collectors to get their hands on.
What is the rarest Peace silver dollar? The rarest Peace dollar is technically the 1928-P Peace silver dollar, although the ultra-rare 1922 High Relief Matte Proof Peace dollar is typically more valuable. The 1964-D Peace dollar is truly the “holy grail” of Peace dollars, but these coins were melted down by the U.S. Mint and are very likely legal to own.
On this page, read more about the rarest, most valuable, and most elusive Peace dollars in the world.
The Rarest Peace Dollars Explained
The Peace dollar was immediately popular following its introduction in 1921. As a consequence, the series featured extraordinarily high mintage figures in 1922, 1923, 1924, and 1925, before production slowed beginning in 1926. Even the lowest mintage Peace dollar, the 1928-P, saw over 360,000 coins produced, making the entire series relatively easy for collectors to source.
For the Peace dollar, it can be difficult to determine which coin is the rarest. On one hand, the 1928-P Peace dollar features – by far – the lowest mintage in the series among regular strike coins. If we consider all varieties and strikes, however, the 1922 High Relief Matte Proof Peace dollar is indisputably the rarest Peace dollar. With an extremely limited mintage, this coin fetches tens of thousands of dollars, even in poor condition.
Finally, any guide about rare Peace dollars would be incomplete without discussing the potentially mythical 1964-D Peace dollar. All 1964 Peace dollars, a one-time experiment by the U.S. Mint, were supposedly melted down before reaching the public. Although rumors persist that some specimens made it out of the mint, no 1964-D Peace dollar has ever been spotted, and most numismatists believe that owning one would be illegal.
Below, we’ll take a look at these three candidates for the title of the rarest Peace dollar.
1928-P Peace Dollar – The Lowest Mintage Peace Silver Dollar
Where mintage figures are concerned, the rarest Peace silver dollar is the 1928 Peace dollar. Only 360,649 1928-P Peace dollars were minted, which is less than half of the number of Peace dollars minted in 1927, the second lowest mintage year in the series. As such, the coin is considered a key date of the Peace dollar series, with even highly circulated 1928-P Peace dollars selling for hundreds of dollars at auction.
It’s important for collectors to note that the key date 1928 Peace dollar is the 1928-P, which was produced at the Philadelphia Mint and includes no mint mark. The San Francisco Mint also minted Peace dollars in 1928, but the 1928-S Peace dollar has a considerably higher mintage (1,632,000) and is not considered a key date of the Peace dollar series.
1928 Peace Dollar Mintages, Value, and Auction Records
Excluding the Peace dollar re-releases in the 2020s, the 1928 Peace dollar boasts the lowest mintage in the Peace silver dollar series. Only 360,649 Peace dollars were minted at the Philadelphia Mint in 1928, the lowest mintage number of all regular strike Peace dollars. The next-lowest mintage in the series is the 1927-P Peace dollar, which was minted 848,000 times.
Values for the 1928-P Peace dollar begin at $185, as of January 2026. Market value for the 1928-P Peace dollar increases as the grade of a given coin increases, with the most valuable 1928-P Peace dollars being those in Mint State (MS) uncirculated condition.
The highest price ever realized at an auction for a 1928-P Peace dollar was $129,250, the sale price for an MS66+ 1928-P Peace dollar at a 2023 auction by Legend Rare Coin Auctions. Collectors on a budget who want to build a full date set of Peace dollars should strive to target mid-grade 1928-P Peace dollars, as prices increase considerably in higher grades.
1922 High Relief Matte Proof Peace Dollar – Most Valuable Rare Peace Dollar
If we’re including non-regular strikes, the rarest Peace silver dollar is the 1922 High Relief Matte Proof Peace dollar. Only 10 of these coins are estimated to exist, making it one of the scarcest coins in all of U.S. numismatics. Even in poor condition, the 1922 High Relief Matte Proof Peace dollar’s value is estimated to be approximately $40,000, per PCGS.
Auction records climb considerably as the condition/grade of a 1922 High Relief Matte Proof Peace dollar increases, with high-grade uncirculated specimens routinely fetching hundreds of thousands of dollars at auction.
1922 High Relief Matte Proof Peace Dollar Mintages and Auction Records
The value of a 1922 High Relief Matte Proof Peace dollar depends primarily on its condition. With only 10 estimated surviving coins, the 1922 High Relief Matte Proof Peace dollar is one of the world’s rarest coins. The highest price ever achieved at auction by a 1922 High Relief Matte Proof Peace dollar is $458,250 at a 2014 auction by Goldberg Auctioneers for a coin with a PCGS grade of MS67.
Since this auction occurred over a decade ago, it is likely that another 1922 High Relief Matte Proof Peace dollar would sell for even more in the same grade.
1964-D Peace Dollar – Potentially Mythical and Illegal-to-Own Peace Dollar
We’ve covered two of the rarest and most valuable Peace dollars. The 1928-P Peace dollar boasts the lowest mintage among all regular strike Peace dollars, but the ultra-rare 1922 High Relief Matte Proof Peace dollar is far scarcer and more valuable within the series. For collectors who want a truly complete set of Peace dollars, the 1922 High Relief Matte Proof coin is the big stopper.
But there is one Peace dollar that makes both of these coins look common. The 1964-D Peace dollar is a potentially mythical coin in the Peace dollar series. Like many of the rarest treasures in U.S. coinage, the 1964 Peace dollar is a coin that was never supposed to make its way into the hands of the public.
The Denver Mint produced over 316,000 Peace dollars in 1964, but all were supposedly melted down before being distributed to Americans. Although collectors theorize that at least a couple of these mythical coins escaped the U.S. Mint, there is presently no evidence that any genuine 1964-D Peace dollars exist.
The 1964-D Peace Dollar: A Numismatist’s Dream
Numerous attempts have been made to locate a genuine 1964-D Peace dollar. At one point, the Professional Coin Grading Service (PCGS) even offered a $100,000 reward to any collector who would allow them to look at the mythically rare silver dollar. Despite these efforts, nobody has been able to locate an actual 1964-D Peace dollar.
Complicating matters even more, any genuine 1964-D Peace dollar would likely be illegal to own. Because it’s unlikely that any Peace dollar could have been legally taken from the mint, possessing one would very likely be against the law. While it could potentially be possible for a collector to keep one of these coins, doing so would almost certainly require an extensive legal battle with an uncertain outcome.
Ultimately, there’s no disputing that the 1964-D Peace dollar is the rarest and most sought-after Peace silver dollar. That being said, there’s no evidence that any of these coins avoided their fate of being melted down in 1964 at the Denver Mint. Even if one of the coins managed to surface, it would probably be illegal to own.
So, what’s the rarest Peace dollar? The 1964-D Peace dollar is technically the rarest Peace dollar, since none are currently known to exist. Among actually obtainable Peace dollars, the rarest coins are the 1928-P Peace dollar and the 1922 High Relief Matte Proof Peace dollar.
Collecting Peace Silver Dollars
The Peace silver dollar is one of the most recognizable U.S. silver coins, and collecting this coin has been popular among hobbyists for nearly a century. The coin’s designs, meant to celebrate America’s victory in World War One, demonstrate some of the finest art and craftsmanship in American coinage history. Today, many collectors build stunning type and date sets of the Peace dollar.
Because of its popularity, the Peace dollar is available at a range of local and online coin and bullion dealers. For the rarest Peace dollars, auction houses are always going to be your best bet. Like other U.S. coins, the value of a Peace dollar hinges on several factors, including:
- Date and Mint Mark (Rarity).
- Condition or Grade.
- Errors or Varieties (If Applicable).
Which Peace dollar should you buy first? That’s entirely up to you, but we usually recommend beginning with lower grades to build your set. After you’ve completed an affordable set of Peace dollars in low-mid grades, you can always sell your coins and slowly “level up” by replacing them with progressively higher grades. Completing a type or date set this way can help collectors save money while still enjoying the satisfaction of completing a set.
What is a Peace Dollar Date/Type Set?
Date and type sets are two types of sets collectors can build for a particular coin or category of coins. A type set refers to all types of coins in a given date range. Alternatively, building a date set means collecting a coin from each year of a given coin’s mintage run. Date sets are popular among Peace dollar collectors, since the Peace dollar series includes a total of 10 unique dates.
For more advanced collectors, consider building a date and mint mark set of Peace dollars. Doing so expands the number of coins required to complete your collection, increasing the total number of coins from 10 to 24. In a date and mint mark set, a collector will compile every year and mint mark available in the series. For the Peace dollar, mint marks include:
- Philadelphia (No Mint Mark).
- Denver (‘D’ Mint Mark).
- San Francisco (‘S’ Mint Mark).
Completing a full set of Peace dollars is a fantastic achievement for collectors. Peace dollars are a good coin for new collectors to focus on, since few coins in a full date and mint mark set are extremely expensive. In fact, most Peace dollars are very affordable, especially in lower grades. The coin also offers a fair bit of challenge to more experienced collectors, since higher-grade Peace dollars can be considerably more expensive.
Where to Buy Peace Silver Dollars
You can buy Peace dollars at a variety of online and local dealers. Some collectors prefer buying their numismatic coins locally, and there are a few reasons why. To start, local dealers help collectors save money on shipping fees, since you do not need to pay for shipping when you pick an item up from a brick-and-mortar shop. Local dealers might also specialize in rarer Peace dollars and other coins than the average online retailer. Finally, your local dealer can help you get more involved with your local coin-collecting community, which is always a plus.
On the flip side, a growing number of coin collectors are taking advantage of the low prices, large inventories, and unparalleled convenience associated with buying rare coins online.
Buying Peace Dollars Online
Buying Peace dollars online is an increasingly popular way to collect one of the world’s most iconic numismatic coins. Whether you’re after a common, standard Peace dollar or the ultra-rare 1922 High Relief Matte Proof Peace dollar, online retailers can help you find the next coin for your collection. While most online dealers don’t specialize in extremely rare and valuable numismatic coins, you can find many of these rarer U.S. coins online through auction sites.
Hero Bullion is a leading online dealer of Peace dollars, along with other rare and bullion coins. Take advantage of industry-leading pricing, fast shipping, and free shipping on qualifying orders when you buy your next Peace silver dollar online through Hero Bullion’s convenient platform!
Final Thoughts: What is the Rarest Peace Silver Dollar?
Finding the rarest Peace dollar is a bit harder than it looks. Technically, the rarest Peace dollar is the 1964-D Peace dollar, which is not confirmed to exist and may be illegal to own. Among the Peace dollars actually available to collectors, the rarest Peace silver dollars include the 1928-P Peace dollar and the much rarer 1922 High Relief Matte Proof Peace dollar.
To recap, the rarest regular strike Peace dollar is the 1928-P Peace dollar. The rarest and most valuable Peace silver dollar overall is the 1922 High Relief Matte Proof Peace dollar. And the mythical King of all Peace dollars, with bounties on its head and a court case likely waiting for whoever manages to find one, is the collector’s dream, the 1964-D Peace dollar.
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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.