The 1924-S Peace Dollar, part of the United States Peace Dollar series, stands out for its significance and collectible value among coin enthusiasts. Designed by Anthony de Francisci, the Peace Dollar commemorates the end of World War I and was the first U.S. silver dollar minted after the Morgan Dollar era.
This guide explores the history, mintage details, scarcity, and value of the 1924-S Peace Dollar—one of the more sought-after pieces in the series.
The Historical Background of the Peace Dollar
The Peace Dollar series began in 1921 as a tribute to peace following the First World War. However, its origins date back to the Pittman Act of 1918. This Act mandated the melting down of nearly half a billion Morgan Silver Dollars, which were then sold to the United Kingdom and re-coined into Indian Rupees.
As part of the deal, the U.S. government was required to repurchase and re-coin an equivalent amount of silver. The Morgan Dollar design was initially revived for this purpose, but public input led to a new design that would celebrate peace. This brought about the Peace Dollar, minted from 1921 to 1935.
1924: A Significant Year for Peace Dollars
By 1924, the U.S. Mint had already produced over 200 million of the 270 million silver dollars mandated by Congress. Production began to slow, particularly at the San Francisco Mint, which struck only 1,728,000 Peace Dollars that year—one of the lowest mintage numbers for the series.
The Denver Mint didn’t produce any Peace Dollars in 1924, leaving Philadelphia and San Francisco to meet the remaining demand.
| Mint Location | 1924 Peace Dollar Mintage | 1924-S Peace Dollar Mintage |
|---|---|---|
| Philadelphia | 11,811,000 | – |
| San Francisco | – | 1,728,000 |
| Denver | – | – |
The 1924-S Peace Dollar: Rarity and Grading
With only 1,728,000 coins struck, the 1924-S Peace Dollar is considered a semi-key date, meaning it is relatively rare and valued among collectors. The scarcity is especially noticeable in higher-grade examples.
For collectors, the quality of a coin significantly impacts its value:
- MS63 (Mint State 63): Decent luster with some visible marks; commonly available.
- MS65 (Gem Mint State 65): Scarce and highly sought after, with only a few light marks and strong eye appeal.
- MS66 and above: Extremely rare, with exceptional condition and minimal flaws.
The Redfield Hoard and 1924-S Peace Dollar Market
In the 1970s, a major coin collection known as the Redfield Hoard was discovered, containing numerous Peace Dollars, including the 1924-S. Coins from this hoard were sold in bulk, sometimes affecting their market value.
In January 1976, dealers were offering as much as $1,600 for a roll of Brilliant Uncirculated (BU) 1924-S Peace Dollars. Later that year, individual coins from the Redfield Hoard were selling for around $165 in Gem BU condition.
This collection helped solidify the 1924-S as a desirable piece in the market, although its value has fluctuated over time.
Conclusion
The 1924-S Peace Dollar holds a unique place in U.S. numismatic history as a collectible coin. Its limited mintage, historical significance, and scarcity in higher grades make it a treasure among coin collectors.
Whether you’re a seasoned numismatist or a new collector, adding a 1924-S Peace Dollar to your collection can be both a rewarding experience and a wise investment.
FAQs
The 1924-S Peace Dollar is valuable due to its low mintage and scarcity in higher grades. Its rarity, especially in Gem Mint conditions, makes it a prized piece among collectors.
In coin collecting, a semi-key date is a coin with a lower mintage than others in its series, making it rarer and more valuable but not the rarest of the series. The 1924-S Peace Dollar is a semi-key date in the Peace Dollar series.
The Redfield Hoard is a famous collection of silver dollars amassed by collector LaVere Redfield. Discovered in the 1970s, it included many Peace Dollars, such as the 1924-S, which were sold in large quantities and added to the availability of the coin.
When purchasing a 1924-S Peace Dollar, focus on the coin’s grade, luster, and eye appeal. Higher-grade coins (MS65 or above) are rare and more valuable.
Authentic 1924-S Peace Dollars feature specific design elements and mintmarks. To verify authenticity, have the coin evaluated by a professional grading service.
READ MORE: US Mint 2024 Limited Edition Silver Proof Set Available Nov. 5
