The Value and Rarity of the 1923 Liberty Silver Dollar

Whether you own a 1923 Peace dollar or are considering buying one, this article will provide you with valuable information about its worth and the factors that influence its price. From conservation and mintmarks to errors, these factors play a crucial role in determining the auction value of this numismatic treasure.

The Value of the 1923 Silver Dollar

The estimated value of the 1923 Silver Dollar, according to, can vary significantly. Factors such as the coin’s condition, mint, and unique characteristics can greatly impact its price. Below is a breakdown of the estimated values for different grades:

  • MS60: $22-23
  • MS61: $22-23
  • MS62: $22-23
  • MS63: $22-23
  • MS64: $22-23
  • MS65: $22-23
  • MS66: $22-23
  • MS67: $22-23
  • Peace Dollar 1923: $22-23
  • Peace Dollar 1923 (D): $22-23
  • Peace Dollar 1923 (S): $22-23

In 1921, the United States transitioned from the Morgan Dollar to the Peace Dollar design. The Peace Dollar design remained in circulation until 1935, making the 1923 Silver Dollar the last silver dollar designed for general circulation. Nowadays, silver dollars are produced using copper, zinc, manganese, and nickel. 1923 silver dollar value - Liberty

Specifications of the 1923 Peace Dollar

Here are the key specifications of the 1923 Peace Dollar:

  • Type: Peace Dollar
  • Year: 1923
  • Face Value: $1.00
  • Composition: 90% silver, 10% copper
  • Silver Weight: 0.77344 oz.
  • Total Weight: 26.73 grams
  • Current Silver Bullion Value: $17.53
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The 1923 silver dollar minted in the United States lacks a mint mark, except for the 1923 D silver dollar and the 1923 S silver dollar. In other cases, the mintmark can be found on the back of the coin, just below the word “ONE.”

How Much is a 1923 Silver Dollar Worth?

The value of a 1923 Silver Dollar varies based on several factors. Depending on these factors, the price can range from a modest $22-23 to as high as $120,000.

Grading Your 1923 Liberty Dollar is Key

First and foremost, the coin’s condition or grade significantly affects its value. Determining the grade can be challenging for those not well-versed in numismatics or the specific coin in question. Nevertheless, understanding the grade is crucial when buying or selling the coin.

To evaluate the condition of your 1923 Peace Dollar, professional appraisal companies known as Third Party Grading Services (TPG) can assist. These services provide a numeric grade and also authenticate the coin. The TPG encapsulates your coin in a certificate, complete with its data and a barcode and serial number specific to your coin. value 1923 silver dollar - capsule

If you want to learn more about coin grading, click here.

Identifying the Mint of Your Coin

The coin’s mint of origin is the second factor that influences its price. Each mint produces different quantities of coins, which affects the rarity of the 1923 Liberty Dollar. In the case of the 1923 Peace Dollar, there are three different mints:

  • Philadelphia: No mint mark, with a mintage of 30,800,000 coins.
  • Denver (D): Mintmark on the reverse, with a mintage of 6,811,000 silver dollars.
  • San Francisco (S): Mintmark on the reverse, with a mintage of 19,020,000 units.
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Before we delve into errors, which are the third factor influencing the price of these dollars, you can refer to the table below for prices based on the previously explained factors.

We can observe a significant price jump between the MS64 and MS65 grades, indicating that finding units of exceptional condition becomes increasingly challenging. Collectors are willing to pay high amounts to acquire exceptional specimens.

Of course, any appraisal is merely an approximation and may change over time or due to additional features that increase or decrease the price.

An example of a factor that can significantly impact the price, without being considered an error, is the coin’s color or patina. The patina, acquired over time based on preservation conditions, can give the silver dollar a whimsical rainbow tone called “iridescent patina.” Collectors find this captivating and it can increase the coin’s value. The combination of high quality and a beautiful patina can result in very high prices.

Value Perspectives

In general, 1923 silver dollars have remained relatively stable over time. However, like any currency, their value fluctuates to some extent based on trends and market conditions.

In recent years, especially between the MS60 and MS65 grades, Philadelphia mint peace dollars have shown a slight increase in price. Other mints have also experienced an upward trend, with MS64 grades from the San Francisco mint reaching prices as high as $1,050 in 1989.

It’s important to view these exceptional cases as outliers and focus on the stability observed in recent years, backed by existing quantity data and databases with certified and auctioned grades.

Considering the current prices, investing in a 1923 Silver Dollar is a wise decision that provides a glimpse into the past.

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The 1923 Peace Dollar has a few distinctive characteristics that make it more valuable due to its rarity. These unique features have earned specific names based on design changes. Let’s explore them further.

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