1924 Peace Dollar

With a massive mintage of nearly 12 million 1924 Peace dollars, it is no wonder that this is a very common date in many coin collections. While the 1924 date is not as common as the 1923 or 1922, you would not have to look far to find a mint state example.

The strike is generally strong and above average with a satiny lustre. However, there are a lot of coins in existence that are dull and grainy.

History of the 1924 Peace Dollar

As with the 1923 version, so many of the 1924 Peace dollars were minted but not needed in circulation. Millions of the coins were bagged and put into storage for decades to come. In September of 1924, the treasury was already aware of the issue and actually put a 1924 Peace silver dollar into the pay envelope of every treasury employee to get them into circulation.

Despite this small effort, there was still a relatively small amount in circulation.

Bags over the years were slowly released but it wasn’t until between 1949-1950 that a large amount of the 1924 Peace dollar were sent into commerce.

By the early 1950s, there were still a huge quantity of 1000 coin bags in bank vaults. Collectors and investors had little interest in buying them so they remained for the rest of the decade.

In a strange twist of fate, by the time the 1960s were in full swing, the bags became relatively scarce, even compared to the 1922, 1923 and 1925 Peace silver dollars.