The 1922 Silver Dollar is a fascinating and important piece of American history that was minted in the aftermath of World War I as a symbol of peace. Though millions were produced, certain varieties, conditions, and errors make some 1922 Peace Dollars incredibly valuable.
With multiple mint marks, errors, and special VAMs varieties, we’ll explore how the 1922 Peace Dollar provides a wide range of opportunities for every budget.
A New Era of Peace Following World War I
Following the end of World War I, the Peace Dollar was introduced in 1921. With revised production lines at the Philadelphia, Denver, and San Francisco Mints, 1922 saw the highest mintage of the Peace Dollar series, making it one of the most affordable silver dollars to collect. The 1922 mintage year was the first mass-production of the low-relief design.
Peace Dollar Design
The obverse (front) of the 1922 Peace Dollar features a portrait of Liberty with a radiant crown, designed by Anthony de Francisci to symbolize freedom. The word “LIBERTY” arcs above her head, with the date “1922” positioned below her neck. The motto “IN GOD WE TRUST” is prominently displayed, with the V in TRUST representing the Latin U.
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The reverse (back) shows a bald eagle perched on a rock, clutching an olive branch, symbolizing peace. The words “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM” appear above, with the denomination “ONE DOLLAR” along the bottom edge.
The reeded edge of the 1922 Peace Dollar contains 192 reeds, a feature used to deter counterfeiting and coin clipping.
1922 Silver Dollar Value Chart
The value of most 1922 Silver Dollars will depend on the condition and which mint issued it. Coins in higher grades or with minting errors can significantly increase the value.
| Grade | Philadelphia (No Mint Mark) | Denver (D) | San Francisco (S) |
|---|---|---|---|
| Good | $30 – $35 | $30 – $35 | $30 – $35 |
| Fine | $32 – $38 | $32 – $38 | $35 – $40 |
| XF45 | $38 – $45 | $40 – $50 | $50 – $60 |
| About Uncirculated | $45 – $60 | $55 – $70 | $65 – $80 |
| Brilliant Uncirculated | $60 – $85 | $80 – $100 | $90 – $120 |
| Certified MS65 | $200 – $350 | $300 – $450 | $500 – $2,500 |
Values can fluctuate based on, spot silver price, market conditions and the coin’s specific appeal (such as attractive toning or low wear).
1922 Silver Dollar Specifications and Composition
The 1922 Peace Dollar is composed of 90% silver and 10% copper, a common alloy for U.S. silver coins at the time. Each coin contains 0.7734 troy ounces of silver. Its physical specifications are as follows:
- Weight: 26.73 grams
- Diameter: 38.1 mm
- Thickness: 2.8 mm
- Edge: Reeded with 192 reeds
1922 No Mint Mark Standard Circulation Strike
The 1922 Philadelphia Mint Peace Dollar is the most common variety, struck in low relief to following production issues with the earlier high-relief 1921 version. These coins do not have a mint mark.
- Mintage: 51,737,000
- Typical Value:
- Good (G) – $30 to $35
- Fine (F) – $32 to $38
- About Uncirculated (AU) – $45 to $60
- Mint State 65 (MS65) – $200 to $350
- Mint State 66 (MS66) – $800 to $1,200
These coins are readily available from coin stores and online bullion dealers, but values increase significantly for higher-grade examples.
1922 Silver Dollar Error Coins
While the 1922 Peace Dollar is common, certain coins with errors or rare die-pair variations can be worth significantly more. Let’s explore some valuable 1922 error coins that are distinct and affordable to collect.
1922 $1 Cracked Planchet
A Cracked Planchet occurs when a coin is struck on a blank (planchet) that has structural flaws such as cracks or splits that can form during the manufacturing process. As a result, cracks appear as visible imperfections on the surface of the coin.
The location and severity of the crack affect collectibility and value. In some cases, the cracks appear along the edge or across the design.
There are thousands of graded and certified 1922 Cracked Planchet Silver Dollars available in the market due to the large mintages, making these error coins an affordable way to add an interesting piece to your collection. Cracked planchet errors can sometimes be confused with die cracks, but they are fundamentally different.
1922 Die Crack Error
Die Cracks and Die Breaks occur when worn or damaged dies are used to strike coins, resulting in visible cracks or breaks on the coin’s surface that can create unique patterns that make the coin stand out. Because of the large 1922 mintage, there have been thousands of die break coins discovered, graded and certified that are easy to identify by their VAM designation. Many collectors find this appealing and coins with noticeable die cracks are more valuable.
Curved Clip Peace Dollar
A Curved Clip error occurs when the planchet is improperly punched from the sheet, causing a missing inwardly curving portion along the edge. A 1922 Curved Clip Peace Dollar shows a distinct missing part of its edge pattern and reeds in a crescent shape. On average, these coins are worth $150 to $250, making them valuable and affordable to collect.
Lamination Errors
A lamination error occurs when a thin layer of metal peels away from the surface of the coin. This happens due to impurities, defects, or improper bonding of the metal during the minting process.
As a result, it’s common to find 1922 Peace Dollars that exhibit visible flakes, gaps, or rough textures near parts of the eagle design on the reverse side. Peeling also appears surrounding the legends “UNITED STATES OF AMERICA” or “ONE DOLLAR.”
Those with lamination errors from Denver and San Francisco can be more valuable than those from the Philadelphia Mint, which lacks a mint mark.
1922 High Relief Silver Dollar Satin Finish
The Satin Finish High Relief Peace Dollar is a extremely scarce prototype strike that was issued in very limited numbers by the Philadelphia Mint.
These coins retain the high-relief design similar to the 1921 Peace Dollar, with sharper detail on Liberty’s portrait and the eagle on the reverse. However, the high-relief design was abandoned early in 1922 due to difficulties in mass production.
- Mintage: Likely around 10 pieces (prototypes only)
- Typical Value:
- AU – $20,000 to $30,000
- MS63 – $50,000 to $75,000
- MS65 – $100,000+
These coins are incredibly rare, with most known examples residing in museums or high-end private collections. If one of these coins were to go to auction, it would likely fetch hundreds of thousands of dollars.
1922 Silver Dollar – “Moustache” Variety (VAM-12A)
The VAM-12A “Moustache” Variety is a notable error variety caused by a die defect. The defect gives Liberty the appearance of having a mustache on her upper lip, making this variety stand out. The error is more noticeable on coins with minimal wear and is often found only on early strikes.
- Mintage: Unknown (Error variety)
- Typical Value:
- Fine (F) – $100 to $150
- Extra Fine (XF45) – $250 to $400
- Mint State 63 (MS63) – $1,500 to $2,500
This variety is relatively rare, and prices increase significantly for coins in better condition.
Affordable 1922 VAM Varieties to Collect
The VAM (Van Allen-Mallis) system catalogs small differences in Peace Dollars resulting from die pair variations.
Some of the most notable 1922 VAM error coins include:
| VAM | Description | Typical Value |
|---|---|---|
| VAM-2 | Clashed Dies: Transfers parts of the design from one die to the other, creating an unintended impression. | XF – $50 to $100; MS63 – $500 to $1,000 |
| VAM-3 | Die Break on Obverse: Shows a noticeable die crack near Liberty’s hairline. | XF – $40 to $70; MS63 – $300 to $500 |
| VAM-5A | “Spike in Eagle’s Shoulder” Variety: Displays a small raised line on the eagle’s shoulder, resulting from a die gouge. | XF – $60 to $120; MS63 – $400 to $800 |
These VAM variations are valued for their unique characteristics, rarity and condition.
Storing and Protecting Peace Dollars Silver Dollars
To maintain the value and condition, Peace Dollars should be kept in air-tight holders or coin flips to prevent damage or scratches from handling. They provide much more protection that 2×2 flips and are readily available at your local coin shop, Amazon, eBay and hobby shops.
Always have the coin authenticated by a professional coin dealer if you believe it may hold significant value, especially for rare varieties or high-grade examples.
Due to the intrinsic value of the metal, even in heavily worn or cull condition, a 1922 Peace Dollar is worth melt value.
While circulated grades are most common, finding higher-grade coins or rare error varieties can be both challenging and rewarding. Understanding the value, design features, and composition of the 1922 Silver Dollar can help you make informed decisions when collecting or investing in these iconic coins.