The 1924-S Peace Dollar is a famous symbol of American history and numismatic value. The Peace Dollar series was designed to commemorate the end of World War I and the amicable ties between the US and Germany.
It was released at first to take the place of the Morgan Dollar. The unique design, limited manufacture, and historical value of the 1924-S Peace Dollar continue to make it a highly demanded item among collectors.
This article highlights the coin’s value to numismatic aficionados by discussing its design, history, rarity, and value.
Introduction
The 1924-S Peace Dollar is a physical representation of America’s post-war optimism and is much more than just a silver coin. It was created in the early years of the Peace Dollar series and, following the destruction of World War I, it stands for peace, hope, and rebirth. Collectors are quite interested in this coin because of its complex design and small manufacturing facilities.
However, why is the 1924-S Peace Dollar so valuable and rare? Let’s examine its intriguing past and distinctive features in more detail.
The Origin of Peace Dollars
The famous Morgan Dollar was replaced in 1921 by the Peace Dollar. It was made to commemorate the post-World War I pact between Germany and the Allied Powers. The Peace Dollar, designed by Anthony de Francisci, is unique in that it emphasizes peace above economic or industrial might, which was the Morgan Dollar’s main subject.
The coin’s design, which shows a country prepared to rebuild after the war, is a symbol of optimism and regeneration. A favorite among collectors and historical enthusiasts alike, its debut represented the start of a new era in American coinage.
The Impact of the Pittman Act
The Pittman Act of 1918 is partially responsible for the creation of the Peace Dollar. This law made it possible to melt more than 270 million Morgan dollars and turn them into silver bullion. In the UK, most of them of this silver was sold and re-minted as Indian Rupees.
The Pittman Act also mandated that the U.S. government buy-back silver and manufacture it again into new coins, which resulted in the creation of the Peace Dollar. The Peace Dollar became an essential part of American economic strategy as a result of the legislation, which helped domestic mining interests while stabilizing the world silver market.
1924 Peace Dollar Production
The Pittman Act mandated the U.S. Mint to strike more than 200 million silver dollars by 1924. That year, however, the output became significant.
- Philadelphia Mint: Produced 11,811,000 Peace Dollars, making it the primary mint for this year’s coinage.
- San Francisco Mint: Produced just 1,728,000 coins, accounting for less than 15% of the year’s total mintage.
- Denver Mint: Did not have Peace Dollars in 1924.
The reduced production at the San Francisco Mint made the 1924-S Peace Dollar a relatively rare coin, especially in high-grade conditions.
Mintage Numbers for the 1924-S Peace Dollar
The total mintage for the 1924-S Peace Dollar was 1,728,000 pieces, significantly lower than the output of the Philadelphia Mint. This lower mintage contributes to its scarcity and makes it one of the semi-key dates in the Peace Dollar series.
Key Features of the 1924 Peace Dollar
The 1924-S Peace Dollar is a beautiful and meticulously crafted coin, with features that set it apart from other silver dollars:
- Composition: 90% silver and 10% copper, weighing 26.73 grams.
- Diameter: 38.1 mm (1.5 inches).
- Edge: Reeded.
Obverse Design
The Obverse side of the coin has a stunning description of Lady Liberty, wearing a bright crown representing freedom and enlightenment. The word “LIBERTY” is inscribed above her head, while the phrase “IN GOD WE TRUST” is shown below in classical Latin spelling.
Lady Liberty’s profile was modeled after the artist’s wife, Teresa de Francisci. Her serene expression and flowing hair bring a sense of hope and peace, reflecting the coin’s purpose.
Reverse Design
The reverse shows a superb bald eagle perched on a rock, having an olive branch—a universal symbol of peace. Behind the eagle, rays of sunlight rise, representing hope and renewal. The word “PEACE” is prominently shown below the eagle, emphasizing the coin’s message.
Why the 1924-S Peace Dollar is Rare
The 1924-S Peace Dollar is rare because of a mixture of factors:
- Low Mintage: Only 1,728,000 coins were made at the San Francisco Mint, making it one of the lower Peace Dollars.
- Condition Rarity: High-grade examples (MS65 and above) are very scarce. Many coins were poorly struck at the San Francisco Mint, which affected their overall grade.
- Historical Significance: As part of the Peace Dollar series, it has a special place in U.S. history as a symbol of peace after World War I.
Historical Pricing of the 1924-S Peace Dollar
A large collection of silver coins known as the Redfield Hoard had several uncirculated 1924-S Peace Dollars that were found in the 1970s. Gem samples were as affordable as $165 at the time.
The value of these coins has increased greatly in recent years, especially those that are premium examples. For example, in 2011, an MS66-graded coin fetched $54,625 at auction.
Current Value of the 1924-S Peace Dollar
The value of a 1924-S Peace Dollar depends on its condition and grade:
- Circulated Grades:
- Good to Very Fine: $35 to $70
- Extra Fine: $70 to $95
- AU (About Uncirculated): $90 to $186
- Uncirculated Grades:
- MS 60: $245 to $300
- MS 65: $6,000 to $7,200
- MS 66: $40,000 to $45,000
Rare high-grade coins can command prices well beyond these ranges, reflecting their scarcity and demand among collectors.
Grading the 1924-S Peace Dollar
A 1924-S Peace Dollar’s value primarily depends by its grade. The Sheldon Scale, which goes from Poor (P-1) to Perfect Mint State (MS-70), is used to grade coins.
Expert grading organizations such as PCGS and NGC offer certifications that guarantee the coin’s grade and validity, allowing collectors to feel secure about their purchasing.
Conclusion
After World War I, the country’s desire for peace and renewal was expressed by the 1924-S Peace Dollar, a fascinating piece of American history. It is a valuable addition to any coin collection because of its rarity, exquisite design, and historical significance.
You can commemorate the timeless value of peace and connect with a special period of American history by collecting a 1924-S Peace Dollar, whatever your level of experience collecting them.