1924 Silver Dollar Value: How Much is it Worth Today?
The Peace Dollars were minted from 1921 to 1935 and are popular among collectors for various reasons.
Compared to other coins of the category, the 1924 silver dollar is somewhat scarce, especially if it has a mint mark. So, if you are a numismatist, it is a must for you to know the 1924 silver dollar inside out!
That is why we have compiled this guide– continue reading on to learn more about coinage, pricing, errors, grading, and other things that impact the 1924 silver dollar value.
1924 Silver Dollar Value Chart
|1924 No Mint Mark Silver Dollar Value||$30||$32.50||$45.00||$600|
|1924 S Mint Mark Silver Dollar Value||$35||$70||$245||$40,000|
By 1924, the demand for silver dollars was declining; as a result, the Denver mint produced no peace dollars during that year. Even the San Francisco Mint minted significantly fewer coins than the Philadelphia mint.
Despite the low demand, the state produced the 1924 silver dollars for socially significant reasons, i.e., the coins officially commemorated the end of the First World War.
The government also considered the symbolism; the dollar symbolized renewed hope after five years of the war. At that time, America also faced economic regression due to currency inadequacy. So, Nevada senator Key Pittman sponsored an act legalizing silver dollars.
The Pittman Act also made bullion sales legal and restricted the mints to purchase a maximum of 350,000,000 silver to produce silver dollars. Additionally, the act rendered Morgan Silver Dollars obsolete.
1924 No Mint Mark Silver Dollar Value
The Philadelphia Mint produced 11,811,000 — nearly 12 million– coins. Even though this makes it easy to find them today, commerce did not need such a large mintage at that time. Consequently, many bags went and remained in storage for years.
These bags never got into circulation, but many came out by 1950, and by the 60s, there were fewer hoard coin bags, but there was also very little dealer interest.
In 1934, the June issue of The Numismatist stated that the worth of 1924 silver dollars was still the same as the face value and the charges of first-class mail.
Identifying a 1924 silver dollar from this mint is easy– check if it has a mint mark— the ones from the Philadelphia mint have none.
The coinage context of this variety is also interesting: It has a weight of 26.73g, a diameter of 38.1 mm, reeded edges, and a melt value is $17.34. Their composition is 90% silver and 10% copper.
Despite the large mintage, the 1924 coins from the Philadelphia mint are more valuable than their counterparts because finding a gem level 1924 no mint mark silver dollar is extremely rare.
Circulated coins have mostly been subject to wear and tear. In fact, so far, NGC has only graded one no-mint mark 1924 silver dollar to be above the gem level grade.
Finding 1924 silver dollars at an MS-67 grade or less is much easier. These grades are of good quality with a satiny and attractive luster, but some might be dull with a grainy surface.
Anthony de Francisci designed both sides and all varieties of the 1924 silver dollar. For his wife, Teresa, this opportunity was a dream come true.
In high school, Teresa couldn’t act as an American Goddess in a high school history drama and always felt sad seeing the Statue of Liberty as it symbolized the American Goddess.
When Anthony de Francisci, her husband, got the opportunity to design the peace dollar, he did not forget about Teresa’s dream. Anthony honored his wife by using her portrait as the woman on the coin, finally fulfilling and even immortalizing her high school dream.
The text on the obverse side reads “Liberty; In God We Trust” followed by the year. It also depicts the bust of a female, who we know as Teresa, with flowing hair and a pointed crown facing her left.
On the reverse side, the coin features “United States of America E Pluribus Unum; One Dollar; Peace.” In the middle, there’s a seated eagle on a rock and rays in the background. The luster of the coin varies between soft, frosty, bright, and flashy.
As per the NGC Price Guide, the value of a 1924 no-mint-mark silver dollar is between $28 to $39. However, an uncirculated one can be priced for as much as $50,000. The auction record for these coins by the PCGS is $54,625 for an MS65.
1924 S Mint Mark Silver Dollar Value
The San Francisco mint produced only 1,728,000 Silver Dollars with the S mint mark. It was also designed by Anthony de Francisci and has all the same features as its Philadelphia counterparts.
Composed of Silver and Copper, these coins have reeded edges and a fineness of 0.9. They weigh about 26.73g, have a diameter of 38.1 mm, and have a melt value of $17.35.
In the San Francisco facility, 1924 was the year with the lowest mintage quantity compared to the mintage in 1922 and 1923. Due to this, the availability of these coins has been limited from the start, especially in the case of mint-sealed bags.
In the late 1950s, a few bags of these coins were released. Collectors were interested in buying these, unlike what happened with the Philadelphia ones. The bags quickly absorbed at double face value, which was a lot for that time.
As they were scarce, some estates only got a couple of hundred uncirculated coins; as a result, very few mint state bags survived.
The worth of the 1924 S Silver Dollar is typically more than the ones without a mint mark. Starting at $35, they can also cost as much as $40,000.
When it comes to rarity, these are relatively easier to find in circulated grades. However, they have been subject to wear and tear over the years and have heavily abraded surfaces.
Circulated grades are scarce compared to other coins of the Peace category. In fact, there are 24 Peace dollar varieties, and experts agree that the 1924-S Silver Dollar in circulated and worn grades classifies among the top 8 scarcest. Despite that, they are still of low value due to their condition.
In gem condition, the 1924 S silver dollars are extremely rare. Unlike the Philadelphia variety, the San Francisco ones are a rare find from grade MS66 and above. In Mint State, these coins are more scarce. MS63 onwards, it gets difficult to find a specimen. As a result, the price increases too.
Whether circulated or uncirculated, the 1924-S coins also have other factors that impact their worth. One of these is striking. For example, most coins minted in the San Francisco facility are lightly struck on the reverse side, and their value depreciates because of this.
There are exceptions where the coins are well-struck, and their value appreciates because of this.
The other factor is luster. Typically, these coins have a frosty luster. Some, however, have a matted surface because of acid etching the dies’ surface. Some coins also have bag marks, which decreases their worth.
There is no standard price for a mint state 1924-S Silver Dollar as there is no set standard quality. It is also important to remember that these are always more expensive than the Philadelphia variety.
According to NGC, in circulated conditions, the 1924 S Mint Mark value can range anywhere between $35 to $245. However, the same coin in an uncirculated and pristine condition is worth $40,000.
1924 Silver Dollar Grading
The value of a 1924 silver dollar without a mint mark can range anywhere between $30 to $600 based on its grade. However, within the same grades, a 1924 silver dollar minted in San Francisco starts from $35 and goes up to $40,000.
The difference in value reinforces the need to know your silver dollar through and through. So, after you have identified which mint the coin comes from, the next step should be to examine its condition and evaluate its grade. As always, we recommend getting the professionals involved so you can avoid any chance of error.
Here’s a video about grading peace dollars to help you out:
Rare 1924 Silver Dollar Error Lists
The 1924 Silver Dollar is scarce and considered valuable by numismatists due to its limited availability. Due to low mintage, some of the varieties, for example, the “S” variety, have become even more valuable.
Error coins classify as rare 1924 Silver Dollars, and value more than the regular ones. Due to rarity, these are highly sought after by collectors.
If you come across one of these, the chances of having come across a fortune are highly likely. Below, we have shared a list of known rare error coins from the 1924 peace dollar.
If you don’t find the coin you own in the list but suspect that it’s an error coin, you might have stumbled across the first of its kind! In such a circumstance, it will be more helpful to get a professional involved.
1924 Silver Dollar Curved Clip Error
The first error on the list is the 1924 Silver Dollar Curved Clip Error, which occurs when a metal piece gets clipped away from the coin. Thus, the curved edge of the coin is left with a clipped shape. Coins with this error will value more, but it also depends on their condition. So far, two of these coins have been listed and sold at an auction for $100.
1924 Silver Dollar Strikethrough Error
The Strikethrough Error occurs when something gets stuck between the dies while striking. Ultimately, this produces coins with a slight pattern on their surface. The overall design isn’t very defined either. Coins with this error can value anywhere between $48 to $250.
1924 Silver Dollar Lamination Error
Next on the list is the lamination error, in which a substance gets stuck between the layers of metal and results in a flay look on the surface of the coin. A 1924 silver dollar in poor condition having this error is worth $50 to $75.
A coin with this error was sold recently in an auction. It had an “S” mint mark on it and was in poor condition. Despite that, it was sold at a high price due to the error and the “S” mint mark.
Another one of these coins in pristine condition was sold at an auction for $400.
1924 Silver Dollar Broken Die Error
The last commonly known error in the 1924 Silver Dollar range is the broken die error, which occurs when the striking die gets cracked or broken.
Coins with this error have a cracked design on the surface of the obverse side or the reverse side or both. Two 1924 silver dollars with a broken die error have been recorded recently.
Since they both had a crack on the reverse side across the eagle’s wing, they were given the nickname “Broken Wing.” One of these was sold at $55, and the other one at $150. The price difference was due to the condition that both the coins were in.
1924 Silver Dollar FAQ
How much is a 1924 silver dollar coin worth?
A 1924 silver dollar in circulated condition can range anywhere between $28 to $45. However, an uncirculated 1924 silver dollar in gem condition is rare, and its price can go up to $40000. It depends on where the coin was minted, its condition, and the errors.
What makes a 1924 silver dollar valuable?
Low mintage, rarity, and limited availability make the 1924 silver dollar incredibly valuable to collectors. What makes it even more valuable is its social and symbolic significance. The coin was produced to commemorate the end of the First World War and served as the symbol of renewed hope.