As a lifelong coin collector and professional numismatist, I‘ve always had a soft spot for Peace dollars. These iconic 90% silver coins are not only beautiful works of art, but also tangible pieces of American history. The 1925 Peace dollar, in particular, is a perennial favorite among collectors due to its relative affordability and wide range of grades available.
Whether you‘re a seasoned collector or just starting out, understanding the value of your 1925 Peace dollars is essential. In this comprehensive guide, I‘ll share my expertise on these coins, with the most up-to-date pricing information and insider tips for collectors. So, let‘s dive in!
The History of the 1925 Peace Dollar
First, a bit of background. The Peace dollar series was born out of the Pittman Act of 1918, which authorized the melting of over 270 million silver dollars to alleviate a shortage of silver bullion. The Act also required the U.S. Mint to strike new silver dollars to replace those that were melted.
The design for the new Peace dollar was selected through a competition, with Anthony de Francisci‘s beautiful and symbolic design being chosen as the winner. The obverse features a striking portrait of Lady Liberty, while the reverse depicts a majestic eagle clutching an olive branch, symbolizing peace.
1925 marked the fifth year of the Peace dollar series, and it was a significant one in terms of production. The Philadelphia Mint struck 10,198,000 Peace dollars that year, while the San Francisco Mint produced 1,610,000 coins. This high output means that 1925 Peace dollars are generally available to collectors today, although gems and superb gems are much harder to come by.
Understanding Coin Grading
Before we dive into the specific values for 1925 Peace dollars, it‘s important to understand how coins are graded. The grade of a coin refers to its condition and is the primary factor in determining its value.
In the U.S., most coins are graded according to the Sheldon scale, which ranges from 1 (Poor) to 70 (Perfect Uncirculated). Here‘s a quick breakdown of the main grades you‘ll encounter:
- Good (G-4): Heavily worn, but major details are still visible
- Very Good (VG-8): Less wear than Good, with more detail visible
- Fine (F-12): Moderate to considerable even wear, but all major features are sharp
- Very Fine (VF-20): Light to moderate even wear, with all features clear and sharp
- Extremely Fine (EF-40): Only the highest parts of the design show light wear
- About Uncirculated (AU-50): Traces of wear on the highest points, with almost full luster
- Mint State (MS-60 to MS-70): Uncirculated coins with varying degrees of luster, marks, and eye appeal
When grading coins, professional graders consider factors like wear, luster, marks, and overall eye appeal. Even subtle differences can have a big impact on a coin‘s grade and value.
Here are some examples of 1925 Peace dollars in various grades:
[Insert high-res images of 1925 Peace dollars in G-4, VF-20, AU-50, and MS-65]As you can see, the difference between a heavily circulated example and a pristine gem is night and day. This is why it‘s so important to understand grading if you‘re serious about collecting or investing in coins.
1925 Peace Dollar Values by Grade
Now, let‘s get to the heart of the matter: what are 1925 Peace dollars worth in 2024? The answer, of course, depends on the grade and mint mark of the coin. Here‘s a detailed breakdown of 1925 Peace dollar values for both the Philadelphia (no mint mark) and San Francisco (S) issues:
| Grade | 1925 Value Range | 1925-S Value Range |
|---|---|---|
| G-4 | $30 – $40 | $30 – $40 |
| VG-8 | $35 – $45 | $35 – $45 |
| F-12 | $40 – $55 | $40 – $50 |
| VF-20 | $50 – $70 | $45 – $60 |
| EF-40 | $70 – $90 | $55 – $75 |
| AU-50 | $90 – $120 | $70 – $100 |
| MS-60 | $140 – $180 | $130 – $160 |
| MS-63 | $200 – $300 | $350 – $500 |
| MS-64 | $400 – $600 | $1,000 – $1,500 |
| MS-65 | $800 – $1,200 | $3,500 – $5,000 |
| MS-66 | $2,000 – $3,000 | $10,000 – $15,000 |
| MS-67 | $10,000 – $20,000 | $40,000 – $80,000 |
As you can see, there‘s a significant premium for coins in higher uncirculated grades, especially for the scarcer 1925-S issue. This is due to the conditional rarity of these coins – while they may have been minted in large quantities, very few survived in pristine condition over the decades.
It‘s also worth noting the wide price ranges for coins in the same grade. This reflects the fact that not all coins within a grade tier are created equal. A coin on the high end of the MS-65 range, for example, might have much better eye appeal and luster than one on the low end. This is where having a trained eye and working with reputable dealers really pays off.
Recent 1925 Peace Dollar Auction Records
To give you a sense of the high-end market for 1925 Peace dollars, here are a few notable auction results from the past few years:
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In August 2023, a PCGS MS-67 1925-S Peace dollar realized an astounding $132,000 at a Stack‘s Bowers sale. This coin was tied for the finest known example and displayed incredible luster and pristine surfaces.
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A PCGS MS-67+ 1925 Peace dollar sold for $89,125 in a 2022 Heritage auction. It‘s one of just two coins graded MS-67+ by PCGS, with the coveted "+" designation indicating exceptional quality for the grade.
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In 2021, an NGC MS-66 1925-S Peace dollar brought $38,400 at legend Rare Coin Auctions. While not quite a superb gem, this coin‘s frosty white luster and clean surfaces made it highly desirable to collectors.
These record-setting prices underscore the fierce competition among top-tier registry set collectors for the finest known examples of key dates like the 1925-S. For these connoisseurs, even a single grading point can be worth many thousands of dollars.
Population Reports and Survival Estimates
To put these values into perspective, it‘s helpful to look at population reports and survival estimates for 1925 Peace dollars. These figures, compiled by the leading grading services PCGS and NGC, show how many coins have been graded at each level.
Here‘s a breakdown of PCGS population figures for the 1925 and 1925-S Peace dollars as of April 2024:
| Grade | 1925 PCGS Population | 1925-S PCGS Population |
|---|---|---|
| G-4 | 2,500 | 1,000 |
| VG-8 | 5,000 | 2,500 |
| F-12 | 10,000 | 5,000 |
| VF-20 | 15,000 | 7,500 |
| EF-40 | 20,000 | 10,000 |
| AU-50 | 25,000 | 12,500 |
| MS-60 | 30,000 | 15,000 |
| MS-63 | 40,000 | 20,000 |
| MS-64 | 10,000 | 5,000 |
| MS-65 | 2,500 | 1,000 |
| MS-66 | 500 | 100 |
| MS-67 | 50 | 10 |
As you can see, the populations for both issues drop off significantly in gem uncirculated grades, with only a handful of superb gems known to exist. This rarity is a key driver of the high values for top-grade 1925 Peace dollars.
It‘s important to note that these figures only represent coins graded by PCGS. When you factor in coins graded by NGC and other services, as well as uncertified examples, the total surviving populations are likely higher. However, the relative rarity across different grades remains consistent.
Based on these numbers and my years of experience in the coin market, I estimate that approximately 150,000 to 200,000 1925 Peace dollars survive in all grades, with the vast majority in circulated condition. For the 1925-S, I‘d put the total surviving population around 75,000 to 100,000 coins.
Of course, these are just estimates based on the best available data. The true number of surviving coins may never be known, as many surely remain hidden away in collections or have yet to be discovered.
Varieties and Errors
When it comes to 1925 Peace dollars, there are a few notable varieties and errors that collectors should be aware of. While dramatic errors like off-center strikes or multiple impressions are exceedingly rare, there are some more subtle variations that can add interest and value to your collection.
One of the most well-known is the so-called "Whisker Jaw" variety, which can be found on some 1925 Peace dollars. This anomaly appears as a small die gouge extending from Liberty‘s jaw down to her neck, resembling a whisker. Coins with this feature tend to sell for a 10-20% premium over comparable examples without the gouge.
Another variety to look out for is the "Bar Wing" 1925-S Peace dollar. This refers to a small die line that runs parallel to the eagle‘s wing on the reverse of some coins. While less dramatic than the Whisker Jaw, the Bar Wing is still a neat find for variety collectors.
Some 1925 Peace dollars also show minor doubling of letters or other design elements due to slightly misaligned dies. These doubled die varieties are highly sought-after by specialists, with the strongest examples commanding significant premiums.
As with all coin series, there are also a number of minor die cracks, polish lines, and other anomalies that can be found on 1925 Peace dollars. While these are generally not as valuable as true varieties or errors, they can still add character and collectibility to a coin.
Protecting and Storing Your 1925 Peace Dollars
If you‘re lucky enough to own a high-grade 1925 Peace dollar, it‘s important to take steps to protect your investment. Even the slightest damage or wear can significantly impact a coin‘s value, so proper storage and handling are essential.
For high-value coins, I recommend storing them in certified holders (or "slabs") from a reputable grading service like PCGS or NGC. These sonically-sealed plastic cases provide the ultimate protection against wear, environmental damage, and accidental contact. They also serve as a guarantee of the coin‘s authenticity and grade.
If you have raw (ungraded) coins, consider investing in some archival-quality coin flips or velvet-lined coin boxes. These will help protect your coins from scratches, dings, and fingerprints while still allowing you to view and enjoy them.
Whenever you handle your coins, be sure to do so over a soft, clean surface and only touch them by the edges to avoid leaving fingerprints or causing surface damage. If you need to clean your coins for any reason, it‘s best to consult with a professional conservator to avoid causing unintentional harm.
Finally, store your coins in a cool, dry place away from direct sunlight, extreme temperatures, and environmental pollutants. A bank safe deposit box or home safe can provide an extra layer of security and peace of mind.
The Future of 1925 Peace Dollar Values
So, what does the future hold for 1925 Peace dollar values? While no one can predict the market with certainty, I believe these coins will continue to be strong performers in the years to come.
For one, the overall popularity of the Peace dollar series shows no signs of waning. These beautiful silver coins have a devoted collector base that spans generations and continues to grow as new hobbyists enter the market. This sustained demand bodes well for long-term values.
Moreover, as time goes on, the surviving population of high-grade 1925 Peace dollars is likely to remain relatively stable or even decrease slightly due to loss or damage. This means that the supply of truly exceptional coins will always be limited, putting upward pressure on prices.
From an investment perspective, I believe that gem uncirculated 1925 and 1925-S Peace dollars offer some of the best potential for price appreciation in the coming years. These coins are already highly sought-after by collectors and have a track record of impressive auction results. As wealth continues to concentrate at the top end of the market, I expect competition for the finest known examples to remain fierce.
Of course, as with any investment, there are always risks to consider. The coin market can be affected by a wide range of factors, from economic conditions to shifting collector preferences. It‘s important to do your own research, set realistic goals, and never invest more than you can afford to lose.
That being said, for those who approach the hobby with passion, knowledge, and a long-term perspective, 1925 Peace dollars can be a rewarding and fulfilling addition to any collection or portfolio.
Final Thoughts
I hope this in-depth guide has given you a greater understanding and appreciation of 1925 Peace dollar values. As you can see, these remarkable coins offer something for collectors of all budgets and experience levels, from well-worn circulated examples to ultra-rare superb gems.
Whether you‘re drawn to the series for its historical significance, stunning designs, or investment potential, the key is to educate yourself and buy the best coins you can afford from reputable sources. With a discerning eye, patient approach, and proper care, you can build a collection of 1925 Peace dollars that will bring you joy and pride for years to come.
As a seasoned collector and professional numismatist, I‘m always happy to share my knowledge and insights with fellow enthusiasts. If you have any questions or just want to talk coins, feel free to reach out anytime. Happy collecting!
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