1926 Peace Silver Dollar

The story of the 1926

Production at Philadelphia fell off a cliff in 1926. Only 1,939,000 were made, against 10 million the year before. That drop is why the 1926 is the one people look for. The next year it made 848,000 (1927).

1926-D came to 2.3 million and 1926-S came to 7 million, so neither mint's 1926 coin is much scarcer than the other. In the whole series, its mintage sits closest to the 1935-S (1,964,000) and the 1924-S (1,728,000).

Philadelphia struck the Peace Silver Dollar in 10 issues between 1921 and 1935. By mintage this one lands in the more common half, while the key for that mint is the 1928 (360,649). Within the 1920s it's 9th smallest of 19, between the 1924-S (1.7 million) and the 1926-D (2.3 million).

More on the 1926

Philadelphia made only 1,939,000 Peace dollars in 1926, the smallest of the three 1926 issues and a steep drop from 10,198,000 the year before. Both Denver and San Francisco outproduced it, with San Francisco's 6,980,000 more than three times as large. Philadelphia's figure fell further still in 1927, to 848,000.

It was a busy year at Philadelphia for special coins: the Sesquicentennial half dollar and quarter eagle, made for the 150th anniversary of independence, were struck there alongside these dollars. Collectors treat the 1926 as a better date. Circulated coins sit a little above metal value and uncirculated ones carry a collector premium, though it's not in the league of the scarce San Francisco dates in high grades. Look for even luster and check the cheek and the eagle's shoulder for marks. With no mint mark below ONE, you have the Philadelphia coin. Avoid coins that look unnaturally bright, since cleaning hurts the value badly.

Pittman Act coinage winds down (1923 to 1928)

Peace dollars continued in large numbers to replace the coins melted under the Pittman Act, with Philadelphia striking 30.8 million in 1923. Output fell after that year. San Francisco's 1924-S and 1925-S, each under two million, are scarce in high grades. Denver made no dollars in 1924 or 1925.

The 1927 issues from all three mints are relatively scarce. The 1928 from Philadelphia, with only 360,649 struck, is the lowest mintage of the series and is often confused with the more common 1928-S. Pittman purchases were complete in 1928 and coinage stopped. San Francisco dollars of these years are often softly struck. Many survivors show heavy bag marks from storage in Treasury vaults. Bags of Peace dollars also emerged in the Treasury releases of the early 1960s.