Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia

1926 Peace Dollar

Coinage Context

Low mintage: The production of 1,939,000 1926 Philadelphia Mint Peace dollars is the lowest Philadelphia Mint figure since 1921.

Numismatic Information

Commentary: In November 1941 in an advertisement in The Numismatist, the Hollinbeck Stamp & Coin Stores referred to the 1926 Peace dollar as the scarcest coin in the series, and offered Uncirculated coins for $4.50, each. The honor for the scarcest is" sue changed from time to time, as hoards Were dispersed. Later, the 1926 became common. In 1944, bags, Were released; several authorities, John Highfill, Walter Breen, and Wayne Miller among them, report that most of these were extensively bagmarked.

In 1953 and 1954, a large number of bags came out through Eastern banks, but they were generally ignored. It was felt that 1926 dollars would be, forever common. However, these bags were soon dispersed, and as the decade wore on, not many others came to light, although-a few are said to have emerged in 1962-64.

Circulated grades: The 1926 Peace dollar is common in worn grades, up to and including AU. Many seem to be in the higher grade ranges, indicating that they may have been put into circulation in the 1940s orearly 1950s. Probably, several hundred thousand exist.

Mint State grades: Many Mint State coins survive.

Most are in grades from MS-60 to MS-63; but MS-64 coins are not rare, and MS-65 pieces Can be located without difficulty. The typical specimen is well struck with nice lustre. Bagmarks, when present, are apt to be light. Cherrypicking is worth doing, but you will not have to look long or hard to find a quality piece.

The 1926 is usually not available in large quantities. Most on the market are encountered a coin or two at a time.

Varieties

Business strikes:
1. Normal reverse: Breen-5724. Hub combination II-B2. VAM-1. Standard variety with normal reverse. 2. Doubled die reverse: VAM-2. Doubling plainest on claws and leaves. Discovered by Fred White. Listed in new VAM 3rd edition.

1926 Peace: Market Values

1926 Peace: Summary of Characteristics

Business Strikes:
Enabling legislation: As earlier; plus bullion authorized by the Pittman Act, April 23, 1918

Designer: Anthony de Francisci
Weight and composition: 412.5 grains; .900 silver, . 100 copper
Melt-down (silver value) in year minted: $0.48284
Dies prepared: Obverse: Unknown; Reverse: Unknown.
Business strike mintage: 1,939,000
Estimated quantity melted: Unknown.
Approximate population MS-65 or better: 2,500 to 4,500 (URS-13)
Approximate population MS-64: 7,000 to 14,000 (URS-14)
Approximate population MS-63: 15,000 to 30,000 (URS-15)
Approximate population MS-60 to 62: 32,500 to 65,000 (URS-17)
Approximate population VF-20 to AU-58: 150,000 to 300,000 (URS-19)
Characteristics of striking: Usually well struck, lustrous, and attractive .
Known hoards of Mint State coins: Many bags were released by the Treasury in 1944; others were released from then through 1962-64, but not enough to make this a "common date."

Proofs:
None

Commentary
Mint State 1926 Peace dollars usually have very attractive surfaces.