1923-P Peace Silver Dollar BU

Peace Dollars Are Hot!

2022 is the 100th anniversary of the first low-relief design 1922 Peace Dollar. The coin’s introduction, the 1921 high relief Peace Dollar was intended to be a one-year only issue commemorative, but the design was so well-received the mint lowered the relief and continued to strike the series. Because of the anniversary, the Peace Dollar market is on fire and is rivaling the popularity of the Morgan Silver Dollars, but the problem is that, according to respected numismatist Q. David Bowers, only 16% of all Peace Dollars ever struck still exist today in any condition

After Morgans Went To War, A New U.S. Silver Dollar Forged The Peace

America’s Peace Dollar was the nation’s the last circulating silver dollar struck in highly pure 90% fine silver and came to be as a direct result of the Pittman Act in 1918, which authorized the melting of some 270 million Morgan Silver Dollars for the war effort. It included the stipulation that following the war’s end, all those melted silver dollars would have to be replaced. So, production of a newly-designed silver dollar began in December of 1921, when, for a few short weeks, the mint attempted a high-relief design like the Saint-Gaudens gold piece. But the coins were just too difficult to strike. Since the mint needed to replace a considerable number of melted Morgans, it made a smart and timely decision: opting to strike a low-relief version for 1923’s first full year of Peace Dollar production. Every Peace Dollar afterwards would follow suit.

Brilliant Uncirculated Peace Dollars From The Mother Mint

These Peace Dollars were struck at the “Mother Mint” in Philadelphia in 1923. That was the same year the Hollywood sign was inaugurated and the year the Yankees played their first home game in the old stadium. The Philadelphia Mint struck 30,800,000 Peace Dollars in 1923. But due to heavy usage during the Great Depression and numerous melts in the years that followed, the number of remaining coins is significantly less than when they were issued.

So, if you were lucky enough to have a 1923 Peace Dollar back then, it’s likely you would have spent it on bread, milk, or gas. They bought a lot. And they were used over and over again until they wore out. But each of the Brilliant Uncirculated (BU) condition coins we have available here look almost as new as they did when they were struck by the Philadelphia Mint a century ago. Three times fewer Peace Dollars were struck for circulation than their older silver sibling, the Morgan. But, as the heir to the throne, this 1923 Silver Dollar is one that no Morgan collection should be without! Order yours now!

COIN HIGHLIGHTS:

• LOW-RELIEF PEACE DOLLAR – When it was first issued in 1921, America’s Peace Silver Dollar was struck in high relief as a commemorative coin. The high relief caused problems on the coining presses and bankers complained they didn’t stack properly. The U.S. Mint altered the coin beginning in 1922 with “low relief” coins.
• A BEAUTIFUL COIN RICH IN SYMBOLISM – The Peace Dollar is a true American symbol of peace. Fascinated by the Statue of Liberty, designer Anthony De Francisci’s obverse presents Lady Liberty wearing a crown of rays, like that on the Statue of Liberty. The reverse features an eagle holding the olive branches of peace, rather than the typical olive branches and arrows of war.
• STRUCK IN GLEAMING SILVER – These Peace Silver Dollars were struck in 1923 at the Philadelphia Mint in 26.73 grams of highly pure 90% fine silver and measure 38.1 mm in diameter.
• LEGAL-TENDER U.S. COINAGE – These coins were $1 legal tender in the United States and circulated widely during the Roaring ’20s and Depression-era ’30s.
• BRILLIANT UNCIRCULATED CONDITION – Your 1923-P Peace Silver Dollar will come in Brilliant Uncirculated (BU) condition.
• THE CASE OF THE DISAPPEARING PEACE DOLLAR – Despite millions of Peace Silver Dollars being struck from 1921 to 1935, most were lost in circulation or melted down in mass silver meltings. In fact, coin experts believe that only 16% of all Peace Dollars remain in existence today!

Here’s your chance to begin or add to your Peace Silver Dollar collection with a 1923 coin from the Philadelphia Mint! Click it to your cart today!