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1923 US Peace SILVER DOLLAR
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Defective silver dollars made in 1921

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February 2014                        

What's the value of a 1923 Silver Dollar?   

    Like most silver dollars minted years ago, a 1923 Silver Dollar's value is affected by the coin's condition and the quantity of coins produced.  Demand from investors and collectors, as well as the number of coins that remain in existence today also impact the value of a silver dollar.

Number of 1923 silver dollar's produced

    During the years 1923 and 1922 the mintages of Peace dollar coins was high. Because of demand from the public the US Mint made a large number of coins. The year 1922 was the most common year for the United States Peace Silver Dollars, with over 50 million dollars produced at the Philadelphia US mint. In 1923 over 30 million dollar coins were produced in Philadelphia. 

(See our silver dollar mintages page for the quantity of each year and mint mark that were produced.)

High Mintages Don't Always Mean a Coin is Common

     The number of 1923 silver dollars that remain in existence today is far less than the number of coins that were originally produced.  Tons and tons of silver coins were melted by the US government at various times.  During World War 2 large number of dollars were melted for the value of the silver in them and the silver was  shipped to foreign countries for war materials.  At other times large quantities of silver dollars were melted by investors and traders for their silver value.  This occurred many times, particularly when spot silver prices rose and the premium over the silver price for dollar coins disappeared temporarily.  The result is that there are way fewer silver dollars that exist today, but no one knows how exactly many remain.

The 1923 Silver Dollar Value

     Even though 1923 it is a common date coin it's selling price today carries a premium over its silver content.  (The silver contained in a typical US Peace silver dollar is around 77% of an ounce.)  In circulated condition a 1923 US Peace dollar will sell for between $20 and $30 depending on the profit that a seller wants to make and how much their original cost was.  Because silver prices vary most every day and peace dollar coins contain so much silver, the value will change if the value of silver increases or decreases very much. 

Uncirculated Silver Dollars Are Worth More

     Coin collectors place a lot of value on a coin's condition and the nicer the condition usually means there are fewer of those quality coins that exist.  Uncirculated coins do not show evidence of wear, and will bring higher sell prices than one that has wear.  Uncirculated coins are often said to be in "mint condition".  The grading scale of uncirculated coins goes from MS-60 (the lowest possible uncirculated grade) to the highest grade of MS-70.  See more information about silver dollar values on our Silver Dollar Price Guide chart page.
   


 
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