1923-S Peace Dollar

The 1923-S Peace Dollar is widely considered to be the worst Peace dollar mint marked and ever circulated. To be poorly struck was typical of the San Francisco Mint, so the appearance of the 1923-S Peace silver dollar typically contains light striking on both sides. Due to this, most of the 1923-S coins have been 63 graded with only one graded a 67. The rarity of such a coin makes the 1923-S all the more exciting.

History of the 1923-S Peace Dollar

This was a record-breaking Peace silver dollar for the San Francisco mint with over 19 million of the 1923-S being struck. A large amount of the coins began to be circulated straight away but millions were kept in banking vaults for years.

Unlike some other variations of the 1923 Peace silver dollar, for collectors and investors, the 1923-S Peace dollar remained relatively inexpensive for a long time. In 1934, the 1923-S Peace silver dollar value was still only worth a little over its face value. Any increase in value over the rest of the 1930s was soon to be wiped out. The Mint began to release the millions worth it had been keeping in vaults.

It’s believed that the treasury was still releasing the 1923-S Peace silver dollar all the way up until 1964. With bags of the coins still in abundance in the 1960s, it’s no wonder that so many of the lower grade coins still exist in collections today.