1923 Peace Dollar
As the series entered its third year of release, mintage levels saw a general decline. The 1923 Peace Dollar was struck at the Philadelphia, Denver, and San Francisco Mints. These issues are all readily available in circulated grades, however in higher mint state grades, there is plenty of distinction in availability and values.
The Philadelphia Mint issue had the highest mintage at 30,800,000 pieces. Due to the high number of silver dollars produced and released into circulation in the prior year, many of these coins were held in vaults, preserving their condition. As a result, there is broad availability in mint state grades up to MS66. Availability drops after that point with approximately 130 pieces graded MS67 by either PCGS or NGC, with none graded higher.
The 1923-D Peace Dollar is usually found with a sharp strike, although excessive bag marks can be a problem. From the mintage of 6,811,000, few pieces survive in grades MS65 and higher. The finest known specimens are graded MS66.
The 1923-S Peace Dollar can be difficult to locate in true gem condition. The coins are commonly found with weak strikes, heavy abrasions, and other surface problems associated with the San Francisco Mint issues. As a result, coins graded MS65 or higher are rare and bring high premiums. Many of the pieces graded as gems will still suffer from poor eye appeal, so patience is suggested in selecting an attractive specimen.
1923 Peace Dollar Mintage and Specifications
Mintages: 30,800,000 (Philadelphia), 6,811,000 (Denver), 19,020,000 (San Francisco)
Designer: Anthony de Francisci
Composition: 90% silver, 10% copper
Weight: 26.73 grams
Diameter: 38.1 mm
Edge: reeded
