With the right knowledge and resources, you can determine the exact value of your 1924 silver dollar. Knowing how much it’s worth will help you make informed decisions about selling or trading it for other items on the market. Let's get started!
Even as we continue to enter a new frontier of currency, many of us still hold a wistful interest in collecting coins from our past. With this in mind, you may be motivated to determine the 1924 silver dollar value. When discussing cleaning a coin or confirming its authenticity, this silver dollar is a hot topic for collectors.
It is one of the most in-demand coins ever minted and was created in 1924. The valuation of an old silver dollar depends on several factors, including the condition in which you hold it. Read on to find out more information about the valuation of this coin.
1924 Silver Dollar Value
The NGC Price Guide (a resource used by coin collectors to assess the value of their coins) states that a 1924 Peace Dollar in the circulated condition is worth between $30.50 and $39.50 as of January 2023. On the open market, 1924 Silver Dollars in pristine condition can sell for up to $50000.
Many factors determine the value of an old, rare coin. Here are some of the most important:
1. The Grading System
The grading system is one of the most critical factors in determining the value of any coin. Grading a coin is simply determining its condition based on standards. Coins are graded on a scale from 1 to 70, with 70 being the highest grade possible. The lower the grade, the more valuable the coin.
2. Uncirculated 1924 Silver Dollars
The value of a 1924 Silver Dollar depends on its condition. The most valuable silver dollars are those in uncirculated condition, meaning they still have their original luster and have not been used as currency. Uncirculated coins also have no scratches or wear marks on them.
If a coin is in flawless condition, the MS 60 grade can sell for around $45. On the other hand, coins with an MS 65 grade that have never been circulated are typically worth about $160.
A “Good” condition coin has been well-circulated and shows signs of wear. Coins in “Good” condition are usually worth less than those in “Fine” or “Very Fine” condition. It's usually around $25.
4. Fine Condition
A 1924 Silver Dollar in Fine condition (or better) is worth much more than one in poor condition. Typically, its value can reach up to $33. A coin that has been damaged or worn by circulation or mishandling will not have as much value as one that has not been damaged.
5. Extremely Fine Condition
The condition of your 1924 silver dollar is one of the most important factors in determining its value. Extremely Fine (X.F.) is considered to be in 45-50% condition, and Very Fine (V.F.) is in 30-35% condition. In excellent condition, silver dollars are an attractive and valuable piece for any collector. Their average price is around $40.
6. Error Coin
The 1924 Peace Dollar contains noticeable flaws, such as weak reverse strikes or patches of Lady Liberty's hair missing from the front. These errors make them unique and highly sought after by collectors.
Error coins have interestingly been referred to as “Broken Jaw”, “Extra Hair” and “Clashed E”. For instance, the 1924 ‘Broken Wing' Peace dollar was highly sought after in 2015 and went for an impressive $2,232.50 at an auction!
History Of The 1924 Silver Dollar
The history of the 1924 Silver Dollar begins with the end of World War I. In the 1920s, the United States Mint created a silver coin series called “Peace Dollars” to commemorate a period of peace in Europe after World War I. The coins were struck from 1921 through 1928. These coins were designed by Anthony de Francisci, who was also responsible for designing other U.S. coins and medals.
Francisci is best known for his artwork on the Peace Dollar, which has become a beloved part of U.S. numismatic history. Francisci's design embodied a strong sense of peace and would carry that message as a torch to the American public for years. The Peace Dollar was designed as a circulating coin that could be used for commerce. Still, it also had another purpose: to teach Americans about their history and heritage through numismatics.
The 1924 Peace Dollar Design
The final design of the silver peace dollar was chosen through a competition. The Italian sculptor Anthony de Francisci was chosen to design this important coin. The sculptor created a work that captured the “spirit of the country—its intellectual speed, vigor, and vitality.”
His study of ancient Greek coins influenced De Francisci's work on the Peace Dollar design. The artist believed that Greek coins had been designed to be looked at and not just handled. He sought to capture this beauty in his work so that it could be appreciated by everyone who saw it, no matter where they lived or what language they spoke.
Features Of The 1924 Silver Dollar
The 1924 Silver Dollar is a beautiful coin with many features that make it very special. It was designed by Anthony De Francisci, known for his work on the Buffalo nickel and Mercury dime.
1. Obverse Side
The obverse side of the 1924 Peace dollar shows a left-facing portrait of Lady Liberty wearing her radiant crown. The word “LIBERTY” encircles her crown, along with the motto IN GOD WE TRUST and the date below. Below her chin is a small block containing the mint mark for Philadelphia (P) or San Francisco (S).
2. Reverse Side
The coin's reverse side is engraved with an image of a bald eagle sitting on an olive branch. The olive branch, a symbol of peace and friendship, lies beneath the bird. The words “UNITED STATES OF AMERICA” are inscribed above the eagle's head, while “IN GOD WE TRUST” is inscribed below it.
The phrase “E PLURIBUS UNUM” is engraved above the eagle's head, while “LIBERTY” is engraved below it. The word “PEACE,” written below the eagle on a banner in this design, reinforces its message of unity and order.
3. Metal Composition
The 1924 Silver Dollar features 90% silver and 10% copper. This is one of the last coins to be minted with that composition.
4. Mint Mark
The mint mark on these coins is located below the word “ONE” on the reverse side of the coin, to the right of the eagle's tail. The mark indicates which branch minted these coins: D = Denver Mint; S = San Francisco Mint; P = Philadelphia Mint; O = New Orleans Mint; C = Carson City Mint; L = London Mint.
5. Weight and Size
The 1924 silver dollar, which measures 38.1 millimeters in diameter and weighs 26.73 grams (0.944 ounces), is a large coin compared to most coins today—made from cheaper alloys of precious metals like copper or nickel that weigh less than 12 grams each. The silver coin is the largest United States coin ever produced by weight.
Silver dollars minted in the year 1924 are quite valuable. With their weight and purity, they can range anywhere from just a few dollars each to hundreds of dollars. It all depends on how many were made and their condition.