1934 Peace Silver Dollar Value Guide

The 1934 Peace silver dollar has a little higher value than the other pieces in the series, and it can be difficult to locate one in pristine condition. The three mints made these silver dollars and occasionally contained rare and valuable errors.

Remember that the United States Mint only produced proof coins in 1921 and 1922; therefore, you will not find any from 1934. As a result, your objective is to select the regular coinage that is in the best condition.

Learn more about the 1934 Peace silver dollar below.

What Is the 1934 Peace Silver Dollar Made Of?

Designed by Anthony de Francisci, an Italian-American sculptor who designed several United States coins and medals, the 1934 Peace silver dollar has a face value of one dollar. It has a reeded edge and a metal composition of 90% Silver and 10% Copper. The coin weighs 26.73 grams and has a diameter of 38.10 millimeters.

Image Source: USA Coin Book

Even though it never attained the popularity of the Morgan silver dollar, the Peace silver dollar is a special piece. Lady Liberty is depicted wearing a crown or tiara on the coin’s obverse, and the word LIBERTY is displayed behind her. Along with the year of minting, which can be found below Lady Liberty, the phrase IN GOD WE TRUST is included in its simple design.

The coin’s reverse features a perched American eagle with its wings folded. The Latin phrase E PLURIBUS UNUM, which translates to “Out of many, one,” is inscribed under the country’s name, UNITED STATES OF AMERICA, on the coin’s top portion.

Sun rays, the word PEACE, and the denomination of ONE DOLLAR are all embellished on the lower portion of the coin’s reverse.

You can find the mint mark for the Peace silver dollars minted in Denver and San Francisco under the word ONE on the coin’s reverse. However, the coins minted in Philadelphia do not bear any mint mark.

1934 Peace Silver Dollar Varieties

Denver had the largest mintage for the 1934 Peace silver dollar coin, while the San Francisco mint produced over a million coins. Surprisingly, Philadelphia had the lowest number in mintage, which was unusual then.

Here are the 1934 Peace Silver Dollar varieties:

With that said, continue reading to get a deeper look at the 1934 Peace silver dollar varieties.

1934 D Peace Silver Dollar

Image Source: PCGS

The 1934 D Peace silver dollar seems to have been disregarded or forgotten. Despite a large mintage, there aren’t many documented hoards that have hit the market. The mintage likely trickled into the commercial channels over time. As a result, they received little consideration from numismatists.

In the range of VF-20 to AU-58, the 1934 D Peace silver dollar is neither fish nor fowl, meaning it falls somewhere between being both scarce and common. Although easily accessible, uncirculated coins are not valued as highly as some of the other issues in the series. Most coins are in lesser grades, such as MS-60, MS-63, or even MS-64. Given the issue’s late date in the series, MS-65 coins are remarkably uncommon.

A 1934 Peace silver dollar in the circulated condition is worth between $34 and $145 as of February 2023 (NGC Price Guide). On the open market, however, this coin can fetch up to $70,000 if in pristine, uncirculated condition.

1934 S Peace Silver Dollar

Image Source: PCGS

The production of Peace silver dollars resumed in 1934. The last silver dollars were produced in 1928, and domestic silver reserves were depleted. The Mint did not buy silver from world markets to make more Peace silver dollars until 1934.

The 1934 S Peace silver dollar did not survive in quite the same quantities as the Philadelphia mint version, although having a little higher mintage. In Mint State grades up to MS-64, it is currently regarded as the rarest variation. Only 17 coins (including 4 MS65+ coins) have been graded higher than Gem state.

Based on the NGC Price Guide, the 1934 Peace silver dollar is valued between $40 and $1975 (as of February 2023). However, you can sell one in pristine, uncirculated condition on the open market for as much as $135,000!

1934 P Peace Silver Dollar

Image Source: PCGS

Less than a million Peace silver dollar coins were struck in 1934, making this issue a semi-key in the series. Because they were not very skillfully made, they are much rarer above gem condition.

Circulated coins in VF-20 to AU-58 are generally rarer and are likely the second scarcest in the series after the 1928 issue. In numismatic channels, uncirculated coins are widely available.

It would not be difficult to locate a 1934 Peace silver dollar that meets your needs, whether an MS-60 or MS-65, though the latter can be quite expensive. Nevertheless, the 1934 Peace silver dollar appears to be undervalued.

In circulated condition, the NGC Price Guide estimates the value of a 1934 Peace silver dollar to be between $34 and $135 (as of February 2023). But if you sell or buy these coins on the open market, particularly in pristine, uncirculated condition, they will cost up to $55,000!

List Of 1934 Peace Silver Dollar Errors

There were more than three million 1934 Peace silver dollar coins that the US Mint issued. While this mintage figure isn’t that big compared to other US coins, it still didn’t escape the fact that it had some error coins.

This series’s most common type of error is the doubled die error.

The 1934 D Peace silver dollar coin below features a Doubled Die error on its obverse and a micro “D” mint mark on its reverse. A doubled die obverse (DDO) error happens when there is a duplication of design elements on a working die. This duplication is caused by a misalignment of the die or hub during the hubbing process.

Image Source: PCGS

Image Source: PCGS

How Much Is The 1934 Peace Silver Dollar Worth Today?

As of January 2023, the NGC Price Guide on their website set the 1934 Peace Silver dollar’s melt value at $18.38. It has a face value of $1.00 or one dollar.

The USA Coin Book estimates the 1934 Peace Silver dollar’s value between $43 (Denver and Philadelphia mint variants) to $84 (San Francisco mint variants) in average condition.

However, buy or sell these coins in pristine, uncirculated condition on the open market. You can make up to $176 to $2,065 (Denver mint variant), $2,284 to $9,103 (San Francisco mint variant), and $138 to $854 (Philadelphia mint variant) or more in Uncirculated (MS+) Mint Condition.

How Does The Grading System Work?

Coin appraisers frequently use a magnifying glass or a coin microscope to evaluate the value and condition of coins that go through their fingers. To estimate its value, they look at a coin’s brilliance, strike, color, preservation, attractiveness, and other attributes.

Suppose you require assistance from experts in the coin grading sector. In that case, you should contact organizations like the Numismatic Guaranty Corporation (NGC) or the Professional Coin Grading Service (PCGS). With their assistance, your coin can acquire an official grade, so its value might significantly increase.

Image Source: GSI Exchange

Aside from using these tools, these professionals also assess coins using the Sheldon Scale. This 70-point grading system enables you to classify your coin into the PR (Proof) or MS (Mint State) categories.

A grade of 60 to 70 on the scale indicates a coin in MS condition, implying that you would require a coin microscope to detect any flaws or blemishes on the coin.

Where To Buy Or Sell 1934 Peace Silver Dollar?

Even though it is harder to find one in coin or antique shops, you might be able to find a 1934 Peace silver dollar there. But why go through the trouble when you can quickly search online for stores that sell these coins?

To look for 1934 Peace silver dollars, you can explore online markets and auction sites like Amazon, eBay, Etsy, or Craigslist.

You can also consult with coin grading service industry experts, such as the Numismatic Guaranty Company (NGC) or the Professional Coin Grading Service (PCGS). Contact them if you want professionals to help you with your coin collection. These organizations will be able to provide you with information on where best to sell or buy your 1934 Peace silver dollars.

FAQs

What is a 1934 one dollar silver certificate worth?

According to Old Currency Values, the 1934 one-dollar silver certificate sells relatively cheaply because there are no varieties. The price of a note in average condition is about $12. A brand-new pack of 100 consecutive notes costs about $6,000.

Where is the mint mark on a 1934 silver dollar?

You can find the mint mark for the Peace silver dollars minted in Denver and San Francisco under the word ONE on the coin’s reverse. However, the coins minted in Philadelphia do not bear any mint mark.

How much does a 1934 silver dollar weigh?

The 1934 Peace silver dollar coin weighs 26.73 grams.

What makes a 1934 silver dollar rare?

According to NGC, the 1934 Peace silver dollar coins were poorly produced. As a result, these particular coins are quite rare above gem condition.