Discover the Value of the 1922 Peace Dollar: High Relief and Normal Relief Designs

The 1922 Peace Dollar remains a significant piece of American coinage, celebrated for its design, historical context, and value among collectors. This article covers the features, history, and value of the 1922 Peace Dollar and provides key insights for collectors and coin experts. Whether you’re a seasoned collector or just beginning, understanding this coin’s nuances can enhance your appreciation and guide your investment decisions.

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What Is the 1922 Peace Dollar?

The 1922 Peace Dollar holds a special place in the history of U.S. coinage. The coin symbolizes peace. It was first minted in 1921 to mark the end of World War I. The Peace Dollar features a striking design by Anthony de Francisci. It shows Lady Liberty on the front and an eagle with an olive branch on the back.

The 1922 Peace Dollar was minted in large quantities, making it one of the most common issues in the series. However, its historical significance and artistic design continue to attract collectors. The coin’s composition includes 90% silver, adding intrinsic value to its numismatic appeal.

Why Is the 1922 Peace Dollar Highly Regarded Among Collectors?

Collectors prize the 1922 Peace Dollar for several reasons. First, it represents a pivotal moment in American history, marking the nation’s transition from war to peace. The coin’s design reflects this theme, with Lady Liberty’s serene expression and the eagle symbolizing strength and peace.

Additionally, the 1922 Peace Dollar’s high silver content makes it valuable not just as a collectible but also as an investment in precious metals. Collectors often seek out coins that combine historical significance with intrinsic value, making the Peace Dollar a prized addition to any collection.

How to Identify the High Relief 1922 Peace Dollar

The high-relief design of the 1922 Peace Dollar stands out for its detailed and elevated features. Early in 1922, the U.S. Mint produced a limited number of these high-relief coins before switching to a lower-relief design for mass production. The high-relief coins display more pronounced details, particularly in Lady Liberty’s crown and the eagle’s feathers.

Identifying a high-relief 1922 Peace Dollar involves examining the depth and clarity of the design. Coins with sharper, more elevated features are likely high-relief. These coins are rarer and more valuable than their normal-relief counterparts, making them highly sought after by collectors.

How many Modified High Relief 1922 Peace Dollars were struck, and what happened to them?

In 1922, the United States Mint struck only 3,200 Modified High Relief Peace Dollars. Unfortunately, these coins faced production challenges similar to their predecessors, leading to frequent die breakages. As a result, they were intended to be melted down, similar to the fate of the 35,401 High Relief 1922 dollars that preceded them. However, it’s uncertain whether all of the Modified High Relief coins met the same destiny in the melting pot.

The 1922 High Relief Proof Peace Dollar with a matte finish has achieved remarkable auction results. Notably, it reached a record-setting price of $458,250 in PR67 condition. This impressive figure reflects the coin’s rarity and desirability among collectors. These auction results underscore the high value and significance placed on this unique and historical coin.

In 1922, the first production of Peace dollars began with a high relief design similar to the previous year’s 1921 issue. Chief Engraver Morgan made small modifications to the design, but the initial run faced production issues. A total of 35,401 coins were struck before production was abruptly stopped due to frequent die breakage—four obverse and nine reverse dies failed quickly.

Realizing that producing the large quantity needed was impossible with such a high failure rate, the Mint decided to halt further minting and melted down the entire batch of these coins. During this process, adjustments were made to extend the durability of the dies. Despite the complete meltdown of the initial mintage, one High Relief 1922 Peace dollar remarkably survived and even entered circulation. This singular coin, later found and graded as VF20, stands as a unique testament to that original mintage.

To enhance the durability of the dies used in striking the Peace dollar, significant modifications were implemented in its design. Initially, numerous trials failed to deliver durable results. Subsequently, designer Anthony de Francisci collaborated with US Mint Chief Engraver George T. Morgan to create a new low-relief design. This innovative approach significantly reduced the frequency of die breakage, ensuring a more robust production process. This modification became the standard for the Peace dollar and was used consistently until the coin’s production ceased in 1935.

The high relief Peace dollar dies experienced frequent failures due to their unique design requirements. Unlike Morgan dollar dies, which could handle about 250,000 strikes before needing replacement, the Peace dollar dies averaged only about 25,000 strikes. This stark contrast is primarily because the intricate high relief design of the Peace dollar demanded more from the dies.

To extend the lifespan of these dies, the pressure settings on the coin presses were reduced. However, this reduced pressure often resulted in coins where the highest points of the design were not fully detailed. Thus, the demand for intricate, high relief designs led to a higher stress on the dies, causing them to wear out more quickly.

In the final four days of 1921, the United States Mint crafted just over one million high relief Peace dollars.

The 1922 Modified High Relief Proof Peace Dollar with a sandblasted finish holds an intriguing provenance. Experts believe that the only remaining example of this coin was likely sent to the renowned numismatist, Farran Zerbe. Although there isn’t definitive proof linking this coin to Zerbe, many in the numismatic community support this theory due to historical records and associations.

Mintage and Survival Estimate

• Mintage: Included in the total production figures of 1922
• Survivors: 1

This coin is a rare artifact from 1922, reflecting the era’s design experimentation in U.S. Coinage. Its scarcity further elevates its status among collectors today, making it a coveted piece for enthusiasts and historians alike. The combination of its unique sandblasted finish and the mystery surrounding its origins only adds to its allure, cementing its place in numismatic history.

The first Modified High Relief Peace dollar was identified in 2001, almost 79 years after its original minting. Initially, these coins were indistinguishable from the regular 1922 Peace dollars, with their unique characteristics going unnoticed. It wasn’t until careful analysis revealed subtle variations that the first Modified High Relief coin was recognized. This coin had been hidden among other 1922 Peace dollars, and its discovery marked a significant moment in numismatic history. The coin, graded at AU55, showcased enough distinct features to set it apart from its counterparts.

Characteristics of the 1922 Modified High Relief Proof Peace Dollar with Satin Finish

The 1922 Modified High Relief Proof Peace Dollar is a notable numismatic rarity, distinguished for its specific features and limited survival. Here’s what makes this coin special:

• Unique Finish: This dollar boasts a satin finish, setting it apart from other coins of similar era and design. The satin texture gives it a distinctive sheen and visual appeal.
• Mintage Details: While exact numbers for this particular finish aren’t specified separately from the overall mintage, it is incredibly rare, suggesting it was not widely produced.
• Surviving Specimens:Only a single known example of this high-relief proof coin exists today. It’s graded PF67, which indicates a near-perfect condition, maintaining a strong appeal to collectors.
  In the realm of numismatics, rarity is key. With approximately ten 1922 High Relief Matte Finish Peace dollars known, the allure of these coins intensifies. Of these, eight boast a sandblasted finish, adding an extra layer of exclusivity and intrigue for enthusiasts and investors alike.
  The scarcity of these coins, coupled with their unique finishes and high-grade conditions, positions them as coveted treasures in any collection. Whether you’re a seasoned collector or a passionate newcomer, understanding the subtle differences and rarity levels can transform your numismatic journey into a rewarding adventure.
  This exclusive piece, with a satin finish, is part of the 1922 modified high relief Peace dollar series. Although the mintage is not separately listed, it’s understood to be a part of the broader production figures for that year.

  Key Details:

  • Survivors: 1 known example
  • Current Owner: Mint Director Raymond T. Baker

  These unique aspects make it not only a rarity but also a historical artifact, coveted by numismatists worldwide.

• Historical Importance: This coin’s survival, associated with former Mint Director Raymond T. Baker, adds an intriguing historical layer, adding to its desirability among numismatists.

Overall, the 1922 Modified High Relief Proof Peace Dollar is a striking piece of American numismatic history, cherished for its rarity, condition, and unique characteristics.

The 1922 High Relief Proof Peace Dollars are incredibly rare, especially those with a sandblasted finish. Only eight of these unique sandblasted coins are known to exist, making them a prized possession for collectors.

Approximately ten 1922 High Relief Proof Peace Dollars feature a matte finish. These rare coins are a part of the limited number of High Relief Peace dollars produced that year. Two different finishes were created: matte and sandblasted. Among them, the matte finish stands out with around ten known examples.
There are approximately ten 1922 High Relief Matte Finish Peace dollars known, making them exceptionally rare in the numismatic world. Additionally, eight versions with a sandblasted finish have been identified. This dual-release adds a layer of intrigue and desirability for collectors, emphasizing their unique place in coin history.
Such limited numbers highlight the exclusivity of these coins, offering a fascinating glimpse into the minting variations of the era. Whether you’re a seasoned collector or a new enthusiast, understanding the rarity of these finishes can enhance your appreciation of these historical treasures.

Who was Raymond T. Baker, and What is His Connection to the 1922 Modified High Relief Peace Dollars?

Raymond T. Baker served as the Director of the United States Mint from 1917 to 1922. During his tenure, Baker played a pivotal role in overseeing the production of various coin trials. Among these were the rare 1922 Modified High Relief Peace Dollars, which are of particular historical and numismatic interest.

His Connection to the Coins

The Philadelphia Mint, known for its coin production, regularly sent Baker samples of these experimental coin strikes. Among these samples were three of the five known surviving 1922 Modified High Relief Peace Dollars. The trio includes a matte or sandblasted proof, a satin (also referred to as “bright”) proof, and the last Modified High Relief Peace Dollar intended for circulation, famously marked as “3200.”

Tracing Provenance

The satin proof and the “3200” business strike coin maintain an unbroken line of provenance back to Baker, underscoring their historical significance. While it’s widely believed that the only existing sandblasted proof was also sent to Baker, concrete proof of this connection remains elusive.

Through these rare coins, Baker’s legacy continues to intrigue collectors and historians alike, marking a unique chapter in the history of U.S. Currency.

What Is the Value of a 1922 Peace Dollar?

The value of a 1922 Peace Dollar depends on several factors, including its condition, relief type, and mint mark. High relief coins, due to their rarity, typically command higher prices. Coins in mint state (uncirculated) condition also hold greater value. Consulting a price guide, such as the NGC Price Guide, can provide accurate estimates.

The melt value of the 1922 Peace Dollar, based on its silver content, serves as a baseline for its worth. However, the numismatic value often exceeds the melt value, especially for well-preserved coins. Accurate Precious Metals can help determine the specific value of your 1922 Peace Dollar based on these factors.

When estimating the value of the 1922 High Relief Proof Peace Dollar, both circulated and uncirculated conditions hold significant allure for collectors. Here’s a breakdown of their respective price ranges:

Circulated Grades

• Very Fine: Expect a market value around $40,000.
• Extremely Fine: Prices typically reach $60,000.
• About Uncirculated: These coins can command a price close to $80,000.

Uncirculated (Mint State) Grades

For those in mint condition, the values rise considerably:

• Mint State 61: Typically valued at $100,000.
• Mint State 63: These coins may be priced around $230,000.
• Mint State 65: High-grade conditions can fetch up to $350,000.

An extraordinary piece, auctioned in a condition labeled as PR67, set a record with a sale price of $458,250. This illustrates the premium collectors are willing to pay for top-condition proof coins.

How Does the Mint Mark Affect the 1922 Peace Dollar’s Value?

Mint marks play a crucial role in determining the value of the 1922 Peace Dollar. Coins minted at the Philadelphia Mint lack a mint mark, while those from the Denver Mint feature a ‘D’ and those from the San Francisco Mint bear an ‘S.‘ The presence of a mint mark can significantly impact the coin’s value, with San Francisco Mint coins often commanding higher prices due to their relative scarcity.

Checking the mint mark is essential when evaluating a 1922 Peace Dollar. Collectors should also consider the coin’s condition and relief type to get a comprehensive understanding of its value. Accurate Precious Metals offers resources and expertise to help identify and value coins based on these attributes.

What Is the Historical Significance of the 1922 Peace Dollar?

The 1922 Peace Dollar reflects a momentous period in U.S. History, transitioning from the turmoil of World War I to a hopeful era of peace. The coin’s creation was part of a broader effort to celebrate peace and recovery. The design by Anthony de Francisci, chosen through a national competition, embodies these themes with its serene and powerful imagery.

The Peace Dollar series lasted from 1921 to 1935. It was the last series of silver dollars meant for use in the U.S. The 1922 issue, in particular, marked the start of large-scale production. This makes it a cornerstone of the series. Its historical context and design continue to resonate with collectors and historians alike.

The Challenges Behind the 1922 High Relief Design

The journey to producing the 1922 Peace Dollar was not without its challenges. Initially, the U.S. Mint aimed to continue the high relief design from 1921. However, this proved problematic due to the significant political pressure applied to mint coins with the 1921 date, resulting in an extraordinary number of broken dies. Each high relief die failed after approximately 25,000 strikes—a stark contrast to the 250,000 strikes typical for Morgan dollar dies.

To address these challenges, the pressure on the coin presses was reduced, which, unfortunately, led to the high points of the design not being fully struck. Despite various experiments, satisfactory results were elusive until Anthony de Francisci collaborated with Chief Engraver George T. Morgan to develop a more practical low-relief design. This adjustment enabled the Mint to meet production demands without frequent die failures, ensuring the Peace Dollar’s continued production until 1935.

The Unique Legacy of the 1922 High Relief Peace Dollar

In a fascinating twist of history, the first mintage of 1922 Peace Dollars, retaining the high relief design, resulted in the breaking of multiple dies after just 35,401 coins. Consequently, the Mint melted down the entire mintage to reformulate a more durable design. Astonishingly, one high relief 1922 Peace Dollar survived this process and was later discovered in circulation. Graded VF20, this unique coin adds a layer of intrigue and rarity to the series, further cementing its historical significance.

This narrative of design evolution and technical triumph makes the 1922 Peace Dollar not just a piece of currency, but a testament to the ingenuity and resilience of its time.

How to Determine the Condition of a 1922 Peace Dollar

Determining the condition of a 1922 Peace Dollar involves examining its wear, detail, and overall preservation. Coins in mint state (M.S.) condition, with no signs of wear, typically hold the highest value. Grading services like NGC and PCGS provide professional evaluations, assigning grades from Poor (P-1) to Perfect (MS-70).

Factors such as luster, strike quality, and surface marks influence the grade. High relief coins, due to their intricate design, may show wear more prominently, affecting their grade. Accurate Precious Metals can assist in evaluating the condition and grade of your 1922 Peace Dollar, ensuring an accurate assessment of its value.

What Are the Characteristics of the 1922 High Relief Peace Dollar?

The 1922 high-relief Peace Dollar is distinguished by its elevated design features, particularly in Lady Liberty’s crown and the eagle’s feathers. These coins struck early in 1922 showcase more pronounced and detailed imagery compared to the normal relief versions. The high-relief design aimed to enhance the coin’s aesthetic appeal but proved challenging for mass production.

Collectors highly value these high-relief coins due to their rarity and detailed design. Identifying a high-relief Peace Dollar involves examining the depth and sharpness of its features. Coins with clear, elevated details are likely high relief, making them a prized addition to any collection.

The 1922 High Relief Peace Dollar stands out as a remarkable piece of numismatic history due to its rarity and the story of its survival. Only one such coin has been discovered from this striking year, making its existence extraordinarily rare. What adds intrigue is that this coin was actually circulated—a surprising detail given its scarcity. It was eventually graded as VF20, which means it shows moderate wear but remains a significant find for collectors and enthusiasts alike. The combination of its high relief design, limited existence, and circulation makes this coin truly one-of-a-kind.

1922 High Relief Proof Peace Dollars: A Deeper Dive

Beyond the general high-relief Peace Dollars, some of these coins were struck as proofs, adding another layer of rarity and interest. There are two types of 1922 High Relief Proof Peace Dollars:

• Matte Finish: Approximately ten of these coins are known to exist. The finest known grade is PF67 (NGC) and PR67 (PCGS), with an auction record of $458,250, reflecting their high demand and collector interest.
• Sandblasted Finish: Even scarcer, about eight of these coins have survived. Their auction record is set at $192,000 for an SP64 graded coin, demonstrating how sought-after these particular pieces are.

These proofs, included in the total mintage of 35,401 high-relief Peace Dollars, are celebrated for their unique finishes and the formidable challenges they present to collectors. Each proof type not only elevates the aesthetic appeal of the coin but also contributes significantly to its historical and market value.

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The Legacy of the 1922 Modified High Relief Peace Dollars

The 1922 Modified High Relief Peace Dollar is a fascinating chapter in numismatic history, with only a handful surviving today, making them extremely rare and valuable to collectors. Here’s what we know about these treasures:

Surviving Pieces

• Modified High Relief Coins: Initially, 3,200 were minted, but only three examples are known to exist today. Among these, one is historically linked to Mint Director Raymond T. Baker, and the coins have been graded as AU55, AU50, and MS65, respectively.

Unique Proof Variants

• Satin Finish Proof: This unique version shares its mintage origins with the general Modified High Relief runs, yet only a single piece in this finish has survived. Graded PF67, this coin resides in the collection of Raymond T. Baker.
• Sandblasted Finish Proof: Like its satin counterpart, the sandblasted finish is extraordinarily rare, with just one surviving example. While it’s widely assumed that this piece was also sent to Raymond T. Baker, definitive proof is lacking.

Historical Context and Provenance

During his tenure from 1917 to 1922, Raymond T. Baker, the Director of the US Mint, received various trial strikes. These included the noteworthy Modified High Relief Peace dollars, exemplifying different finishes like matte and satin. The “3200” marked coin is notably the last of its kind and traces its history directly back to Baker.

In summary, the Modified High Relief 1922 Peace Dollars are more than mere coins; they are a narrative carried through time, defined by rarity and their intimate association with a pivotal figure in the Mint’s history.

How Does the U.S. Mint’s History Affect the 1922 Peace Dollar?

The history of the U.S. Mint significantly influences the value and desirability of the 1922 Peace Dollar. The Mint’s decision to make the Peace Dollar series marked a key moment in American coinage. It showed the nation’s hope for peace and recovery after World War I. The 1922 issue was the first big production year and is historically important.

The Mint’s craftsmanship and production techniques also impact the coin’s quality and preservation. High-relief coins, requiring more skill and precision, exemplify the Mint’s commitment to aesthetic excellence. Understanding the U.S. Mint’s history provides valuable context for appreciating the 1922 Peace Dollar’s significance.

Is the 1922 Peace Dollar a Good Investment?

The 1922 Peace Dollar offers a compelling investment opportunity due to its historical significance, artistic design, and silver content. High-relief and well-preserved coins, in particular, can be appreciated significantly over time. The coin’s 90% silver composition adds intrinsic value, making it a stable investment in precious metals.

Investing in 1922 Peace Dollars requires careful consideration of factors such as condition, relief type, and market trends. Consult with experts and reputable dealers like Accurate Precious Metals. The combination of numismatic and intrinsic value makes the 1922 Peace Dollar a prudent addition to any investment portfolio.

Summary

• 1922 Peace Dollar: Celebrates peace post-World War I, designed by Anthony de Francisci.
• Collector’s Appeal: High relief design, historical context, and silver content.
• High Relief Identification: Elevated features, sharper details, valuable and rare.
• Value Determination: Condition, mint mark, and relief type impact value.
• Historical Significance: Reflects peace and recovery, part of the last silver dollar series for circulation.
• Condition Assessment: Graded by professional services, factors like luster and strike quality are considered.
• U.S. Mint’s Role: Craftsmanship and historical context add to the coin’s value.
• Investment Potential: Historical significance, artistic design, and intrinsic value make it a sound investment.

Sources

• “The History of the Peace Dollar.“ Coin World, 2023, Coin World
• “Understanding Coin Grading.“ NGC Coin, 2023, NGC Coin
• “Investing in Silver Coins.“ Investopedia, 2022, Investopedia

Frequently Asked Questions

What is the value of a 1922 peace silver dollar?

The value of a 1922 peace silver dollar can vary depending on its condition, mint mark, and other factors. On average, a circulated 1922 peace silver dollar is valued around $20-$30, while a mint condition piece can be worth over $100.

How can I determine the coin value of a 1922 silver dollar?

To determine the coin value of a 1922 silver dollar, you should consider its condition, rarity, and demand in the market. You can also consult price charts and online resources for updated valuations.

Does the U.S. Mint mint the 1922-s peace dollar?

Yes, the 1922-s peace dollar was indeed minted by the U.S. Mint. The “s“ mint mark indicates that the coin was produced at the San Francisco Mint.

What factors determine the dollar value of a peace dollar?

The dollar value of a peace dollar is influenced by its rarity, condition, mint mark, and overall demand in the numismatic market. Factors such as high relief proof, mintage figures, and historical significance can also affect its value.

How does a proof peace dollar differ from a regular 1922 peace dollar?

A proof peace dollar is a specially produced coin with highly polished planchets and dies, resulting in a mirror-like finish and sharp details. In contrast, a regularly circulated 1922 peace dollar may show signs of wear and circulation.

What is the significance of the 90 fine silver content in a silver dollar?

The 90 fine silver content in a silver dollar indicates that the coin is composed of 90% silver and 10% copper. This standard was commonly used for circulating U.S. silver coins until 1964.